Articulated Dump Truck Market to Surpass a Valuation of USD 10.9 Billion by 2032
NEW YORK, February 8, 2022 /PRNewswire/ — The global articulated dump truck market should reach a valuation at $6.0 billion in 2022 and is expected to exceed $10.9 billion by the forecast period 2032, growing at a CAGR of 6% during the evaluation period 2022-2032
In recent years, the use of articulated dump trucks in the automotive industry has grown significantly. Fast response time, higher engine performance, better engine management, high strength, chunky airflow stress and durability among other factors could revolutionize the global articulated dump truck market between 2022 and 2032 .
Some of the current projects include: CRL – Cross Rail Development – UK; HS2 – High Speed Rail Link 2 – UK; LTF – Lyon-Turin High Speed Line – France; Cargiant/LRP/QPR/GLA – Old Oak Common Regeneration—concrete building Montreal (Canada) receives a $100 million renovation for new occupants.
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In the global market, increasing building construction in urban areas, along with rising rental demand, will fuel the demand for articulated dump trucks. Buildings and large loads thrive on crowded urban sites as markets recover, necessitating the use of articulated dump trucks.
The industrial and utility sectors are expected to grow, providing opportunities for articulated dump trucks. Construction Equipment Request is driven by continued growth in the utilities and industrial sectors, particularly in emerging economies such as Brazil, India, Chinaand others.
In addition, infrastructure planning commissioners and policy makers are taking steps to encourage the expansion of industry in these countries.
The East Asian articulated dump truck market represents nearly 26% of the global articulated dump truck market in 2022. It is estimated to have an absolute dollar opportunity to USD 1.2 Billion during the forecast period 2022-2032.
In terms of value, the second biggest The global market is the Japanese articulated dump truck market as well as the East Asian market. It is likely to grow with a 2.8% CAGR and provide remarkable absolute dollar opportunities over the forecast period.
Base year value (2021A)
Estimated annual value (2022E)
Projected year value (2032F)
World growth rate (2022-2032)
Key points to remember:
- The North American articulated dump truck market holds the 3rd the largest market share in the global articulated dump truck market, which is expected to win 179 BPS with the growth of 3.8% CAGR.
- East Asia is likely to grow at a CAGR of 6.1% and generate an absolute dollar value opportunity of more than $1.2 billion by the end of the 2032 forecast period
- The growth in demand for articulated dump trucks in Japan and South Korea is expected to grow at a CAGR of 5% over the 2022-2032 assessment years.
- the articulated dump truck market is expected to grow at 6% CAGR during 2022-2032 compared to a CAGR of 4.2% with whom he grew up from 2017 to 2021
- Governments have increased their investments in the infrastructure projects in both developed and developing countries, which is expected to drive the growth of the articulated transporters market.
- Growing demand from the construction industry and automotive industry to drive the demand for articulated dump trucks.
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The global articulated dump truck market is fragmented due to the presence of several regional and national players. In addition, leading companies have embraced new product development as a key strategy to increase their market presence among consumers. These strategies have resulted in the integration of advanced articulated dumpers.
- On July 7, 2021, Terex acquired a Ireland multinational company based MDS International. Thanks to this acquisition, the company will be able to expand its activities as well as its clientele.
- On October 29, 2021, Rokbak launched the new RA30 and RA40 articulated dump trucks on the UK market.
Top Companies Featured by Fact.MR
- Terex Trucks
- John Deere
- Hitachi Australia
- Liebherr Group
- Bell Trucks AmericaInc.
- CNH Industrial AG
More Valuable Insights on Articulated Dump Truck Market:
Fact.MR in its new report offers an unbiased analysis of the global Articulated Dump Truck market, analyzing forecast statistics to 2022 and beyond. The survey reveals growth projections of the Articulated Dump Truck market with detailed segmentation:
- Less than 30 million tons
- 30-40 million tons
- More than 40 million tons
- Up to 400 HP
- 400-500 HP
- More than 500 HP
- Forest & Agriculture
- North America
- Latin America
- East Asia
- South Asia & Oceania
Key questions answered in the Articulated Dump Trucks market report
- How high is global demand expected to reach during the forecast period?
- What has been the last 5 years CAGR for the demand in the Articulated Dump Truck market?
- Who are the key players in the Global Articulated Dump Trucks Market?
- What is the major region of the Articulated Transporter market?
- What type of output contributes to the maximum share of articulated sales?
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