Tipper Trucks Market by Application and Geography - Forecast and Analysis 2021-2025

According to our tipper trucks market research report, the market will witness a CAGR of 2% which is expected to increase by USD 4 billion for the forecast period 2020 to 2025.

This market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (construction, mining, and agriculture) and geography (APAC, North America, Europe, South America, and MEA). The tipper trucks market report also offers information on several market vendors, including AB Volvo, BELAZ-HOLDING, Caterpillar Inc., Daimler AG, Hinduja Group Ltd., Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., MAN SE, Scania AB, and Tata Motors Ltd. among others.

What will the Tipper Trucks Market Size be During the Forecast Period?

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Parent Market Analysis

Our Technavio Research categorizes the global tipper trucks market belonging to the Machinery industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Tipper Trucks Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2020 as the base year, and 2021 as the estimated year, and produced drivers, trends and challenges for the market. During the COVID-19 pandemic, the demand for tipper trucks has been impacted a lot but a holistic analysis of drivers will help in refining marketing strategies to gain a competitive advantage.

Key Tipper Trucks Market Driver

One of the key factors driving growth in the market is the rapid growth in the construction industry. The growth in the global construction industry fostered the growth of the global market over the last few years. Developed markets such as the US and Western Europe witnessed rapid growth in building construction and renovation in 2019. Owing to the implementation of the Energy Efficiency Directive (EED) formulated by the EC in 2012, Western Europe witnessed the renovation of public buildings, with the goal to achieve zero building emissions by 2020. This will continue to drive the growth of the construction and renovation sectors in Europe during the forecast period. Emerging economies in APAC, particularly India, China, and countries in South-East Asia, also recorded a rapid increase in construction activities in 2019. The accumulated building value in South-East Asian countries such as Singapore, Malaysia, Indonesia, the Philippines, Thailand, Vietnam, and Hong Kong exhibited growth of almost 50% during the last five years. The flexibility and operational speed offered by tipper trucks for applications in the construction industry, especially for repeated material handling tasks, will foster the adoption of tipper trucks in the construction industry, thereby driving the growth of the global market during the forecast period. 

Key Tipper Trucks Market Challenge

The shortage of skilled operators will be a major challenge for the market during the forecast period. Tipper truck operators in the mining industry and the construction industry are required to undergo rigorous training to earn a certification to operate the equipment. Mining truck operators are exposed to topographic and climatic conditions. However, there is a shortage of specialized personnel who can operate mining and construction trucks because of the challenging nature of the job. Mining and construction truck operators must operate this equipment in extreme geographical and climatic conditions. The level of precision needed for operating construction and mining trucks is high, as the risks associated with accidents because of human error can prove to be fatal. Owing to the rigorous training schedule and high level of risk associated with the job, finding skilled operators for mining and construction trucks becomes a tough task for mining and construction companies. The lack of skilled operators is primarily due to the over-dependence on the existing certified truck operators, leading to higher wages and overuse of these truck operators. Also, the lack of skilled operators contributes to the delay and loss in the profitability of projects. The shortage of skilled operators for mining and construction trucks will continue to pose a challenge to the growth of the global market during the forecast period. 

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Tipper Trucks Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• AB Volvo
• BELAZ-HOLDING
• Caterpillar Inc.
• Daimler AG
• Hinduja Group Ltd.
• Hitachi Construction Machinery Co. Ltd.
• Komatsu Ltd.
• MAN SE
• Scania AB
• Tata Motors Ltd.

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth organic and inorganic strategies to compete in the market.

Product Insights and News

• AB Volvo - The company offers two types of tipper trucks Volvo FMX 460 8x4 - 20.3 Cu.M tipper and Volvo FMX 460 8x4 - 33 Cu.M tipper. The Trucks segment focuses on manufacturing, development and sales of trucks. The Construction Equipment segment focuses on manufacturing, development, innovation and sales of construction equipment.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market report contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.

Tipper Trucks Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Tipper Trucks Market?

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35% of the market’s growth will originate from North America during the forecast period. The US is the key market for tipper trucks in North America. Market growth in this region will be faster than the growth of the market in the APAC regions.

APAC will be one of the fastest-growing markets for tipper trucks during the forecast period. The growing population and economic development in emerging countries in APAC are driving the growth of the construction industry in the region. The market in APAC is driven by the rising number of manufacturing plants and the presence of favourable government policies for foreign direct investments (FDIs). This will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Tipper Trucks Market?

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The market share growth by the construction segment will be significant during the forecast period. Construction companies are involved in preparing sites; building houses, buildings, roads, and communities; and expanding cities. Tipper trucks are of great importance to the construction industry. Tipper trucks constitute the main part of any construction operation. These trucks are ideal for transporting loose construction materials such as dirt, excavated dirt, sand, or gravel safely and quickly from a construction job site to any location. Owing to their advantages, tipper trucks are extensively used by construction companies. The growing number of large-scale construction projects across the world has boosted the construction industry growth, which in turn has boosted the demand for tipper trucks in the construction industry during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Tipper Trucks Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 2%
Market growth 2021-2025	$ 4 billion
Market structure	Fragmented
YoY growth (%)	0.93
Regional analysis	APAC, North America, Europe, South America, and MEA
Performing market contribution	North America at 35%
Key consumer countries	US, China, Germany, India, and UK
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	AB Volvo, BELAZ-HOLDING, Caterpillar Inc., Daimler AG, Hinduja Group Ltd., Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., MAN SE, Scania AB, and Tata Motors Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Tipper Trucks Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the tipper trucks industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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