According to the report titled ‘Dump Trucks Market Size By Type (Articulated, Rigid), By Capacity (Below 25 Metric Ton, 25 To 50 Metric Ton, 51 To 150 Metric Ton, 151 To 300 Metric Ton, Above 300 Metric Ton), By End-use (Construction, Mining), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027, available with MarketStudyReport, global dump trucks market is anticipated to garner lucrative returns by the year 2027.

Growing investments in infrastructural development, favourable government initiatives regarding construction sector, the proliferation of recycling activities, rising urbanization, growing mining activities, widespread integration of new technologies, and focus towards replacing of aging truck fleet are some of the major factors driving the growth of global dump trucks market.

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Although the COVID-19 pandemic had severely disrupted the supply chain processes, easing lockdowns across the globe is likely to again add momentum to this business landscape in the ensuing years. Apart from this, continuous technological breakthroughs and strategic collaborations among the leading companies will also fuel the market size.

The market has been bifurcated on the basis of type, capacity, end-use spectrum, and regional contribution.

As per type, the rigid segment captured 65% market share is projected to grow at a significant pace over 2021-2027, on account of increasing mining activities and surging demand for high-speed machines for loading and unloading bulky loads.

Based on capacity type, the 151 to 300 metric ton segment is expected to showcase 6% CAGR during the forecast timeframe owing to the rising demand from construction and mining industries for lifting heavy loads.

Moving on to the end-user perspective, the construction segment is projected to witness substantial growth through 2027 owing to increasing construction activities of hotels, amusement parks, airports, and others.

Geographically, North America dump trucks market share is predicted to expand at a 6% CAGR over the forecast timeframe primarily attributed to the growing construction and mining activities across the region.

The key players in the global dump trucks market are Bell Trucks America Inc., CNH Industrial N.V., Doosan Corporation, Komatsu Ltd., OJSC Belaz, Terex Trucks, XCMG Co. Ltd., Caterpillar Inc., Deere & Company, Hitachi Construction Machinery Co. Ltd., Liebherr Group, Sany Heavy Industry Co. Ltd., and Volvo Group.