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Mining Truck Market Trends and Forecast

The future of the global mining truck market looks promising with opportunities in the coal mining, iron mining, copper mining, and aluminium mining markets.  The global mining truck market is expected to reach an estimated $33.6 billion by 2028 with a CAGR of 4.5% from 2023 to 2028. The major drivers for this market are rapid industrialization, increasing demand for coal, iron ore, and metals, and growing adoption of autonomous or driverless electric vehicles in the mining industry.
Mining Truck Market by Type, Payload Capacity, Drive, and Application
A more than 150-page report is developed to help in your business decisions. A sample figure with some insights is shown below. 
Mining Truck Market by Segments

Mining Truck Market by Segment

The study includes trends and forecast for the global mining truck market by type, payload capacity, drive, application, and region, as follows:

Mining Truck Market by Type [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Bottom Dump
  • Rear Dump
  • Lube
  • Tow
  • Water
  • Others

Mining Truck Market by Payload Capacity [Value ($B) Shipment Analysis from 2017 to 2028]:

  • <90 Metric Tons
  • 90≤149 Metric Tons
  • 150≤290 Metric Tons
  • >290 Metric Tons

Mining Truck Market by Drive [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Mechanical Drive
  • Electrical Drive

Mining Truck Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Coal Mining
  • Iron Mining
  • Copper Mining
  • Aluminum Mining
  • Others

Mining Truck Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

List of Mining Truck Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, mining truck companies in the global market cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the mining truck companies in the global mining truck market profiled in this report include-

Mining Truck Market Insights

  • Lucintel forecasts that 90 ≤149 metric tons will remain the largest segment over the forecast period because it is widely used in small mining sites.
  • Within this market, coal mining segment will remain the largest due to growing usage coal as an energy source in the cement, steel, and power industries, which needs mining trucks to transport materials from mining sites to industries.
  • APAC will remain the largest region during the forecast period due to growing investments in coal-fired power generation projects and increasing demand for minerals and metals in the region.

Features of the Mining Truck Market

  • Market Size Estimates: Mining truck market size estimation in terms of value ($B)
  • Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Mining truck market size by various segments, such as by type, payload capacity, drive, application, and region
  • Regional Analysis: Mining truck market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different by type, payload capacity, drive, application, and regions for the mining truck market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the mining truck market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the mining truck market size?
Answer: The global mining truck market is expected to reach an estimated $33.6 billion by 2028.
Q2. What is the growth forecast for mining truck market?
Answer: The global mining truck market is expected to grow with a CAGR of 4.5% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the mining truck market?
Answer: The major drivers for this market are rapid industrialization, increasing demand for coal, iron ore, and metals, and growing adoption of autonomous or driverless electric vehicles in the mining industry.
Q4. What are the major segments for mining truck market?
Answer: The future of the global mining truck market looks promising with opportunities in the coal mining, iron mining, copper mining, and aluminium mining markets.  
Q5. Who are the key mining truck companies?
Answer: Some of the key mining truck companies are as follows:
  • BEML Limited
  • Bryan Industries
  • Caterpillar
  • CNH Industrial
  • Deere & Company
  • Doosan Corporation
  • Hitachi Construction Machinery
  • Komatsu
  • Kress Corporation
  • Voltas Limited
  • Volvo Group
  • XCMG Group  
Q6. Which mining truck segment will be the largest in future?
Answer: Lucintel forecasts that 90≤149 metric tons will remain the largest segment over the forecast period because it is widely used in small mining sites.
Q7. In mining truck market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region during the forecast period due to growing investments in coal-fired power generation projects and increasing demand for minerals and metals in the region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the mining truck market by type (bottom dump, rear dump, lube, tow, water, and others), payload capacity (90 metric tons, 90≤149 metric tons, 150≤290 metric tons, and >290 metric tons), drive (mechanical drive and electrical drive), application (coal mining, iron mining, copper mining, aluminium mining, and others),  and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and how did they impact the industry?
 
For any questions related to mining truck market or related to mining truck companies, consumer mining truck market size, mining truck market share, mining truck analysis, mining truck market growth, mining truck market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
Table of Contents
 
 
1. Executive Summary
 
2. Global Mining Truck Market: Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges 
 
3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends (2017-2022) and Forecast (2023-2028)
3.2: Global Mining Truck Market Trends (2017-2022) and Forecast (2023-2028)
3.3: Global Mining Truck Market by Type 
3.3.1: Bottom Dump
3.3.2: Rear Dump
3.3.3: Lube
3.3.4: Tow
3.3.5: Water
3.3.6: Others
3.4: Global Mining Truck Market by Payload Capacity 
3.4.1: <90 Metric Tons
3.4.2: 90≤149 Metric Tons
3.4.3: 150≤290 Metric Tons
3.4.4: >290 Metric Tons
3.5: Global Mining Truck Market by Drive 
3.5.1: Mechanical Drive 
3.5.2: Electrical Drive 
3.6: Global Mining Truck Market by Application 
3.6.1: Coal Mining
3.6.2: Iron Mining
3.6.3: Copper Mining
3.6.4: Aluminum Mining
3.6.5: Others
 
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
4.1: Mining Truck Market by Region
4.2: North American Mining Truck Market 
4.2.1: North American Mining Truck Market by Payload Capacity: 90 Metric Tons, 90≤149 Metric Tons, 150≤290 Metric Tons, and >290 Metric Tons
4.2.2:  North American Mining Truck Market by Application: Coal Mining, Iron Mining, Copper Mining, Aluminium Mining, and Others
4.3: European Mining Truck Market  
4.3.1: European Mining Truck Market by Payload Capacity: 90 Metric Tons, 90≤149 Metric Tons, 150≤290 Metric Tons, and >290 Metric Tons
4.3.2: European Mining Truck Market by Application: Coal Mining, Iron Mining, Copper Mining, Aluminium Mining, and Others
4.4: APAC Mining Truck Market  
4.4.1: APAC Mining Truck Market by Payload Capacity: 90 Metric Tons, 90≤149 Metric Tons, 150≤290 Metric Tons, and >290 Metric Tons
4.4.2: APAC Mining Truck Market by Application: Coal Mining, Iron Mining, Copper Mining, Aluminium Mining, and Others
4.5: ROW Mining Truck Market  
4.5.1: ROW Mining Truck Market by Payload Capacity: 90 Metric Tons, 90≤149 Metric Tons, 150≤290 Metric Tons, and >290 Metric Tons
4.5.2: ROW Mining Truck Market by Application: Coal Mining, Iron Mining, Copper Mining, Aluminium Mining, and Others
 
5. Competitor Analysis  
5.1: Product Portfolio Analysis  
5.2: Operational Integration  
5.3: Porter’s Five Forces Analysis   
 
6. Growth Opportunities and Strategic Analysis  
6.1: Growth Opportunity Analysis   
6.1.1: Growth Opportunities for the Global Mining Truck Market by Type
6.1.2: Growth Opportunities for the Global Mining Truck Market by Payload Capacity 
6.1.3: Growth Opportunities for the Global Mining Truck Market by Drive 
6.1.4: Growth Opportunities for the Global Mining Truck Market by Application 
6.1.5: Growth Opportunities for the Global Mining Truck Market by Region 
6.2: Emerging Trends in the Global Mining Truck Market   
6.3: Strategic Analysis   
6.3.1: New Product Development   
6.3.2: Capacity Expansion of the Global Mining Truck Market   
6.3.3:  Mergers, Acquisitions, and Joint Ventures in the Global Mining Truck Market      
6.3.4:  Certification and Licensing   
 
7. Company Profiles of Leading Players  
7.1: BEML Limited 
7.2: Bryan Industries
7.3: Caterpillar
7.4: CNH Industrial
7.5: Deere & Company
7.6: Doosan Corporation
7.7: Hitachi Construction Machinery
7.8: Komatsu
7.9: Kress Corporation
7.10: Voltas Limited
7.11: Volvo Group
7.12: XCMG Group  
 
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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