Mining Truck Market: Trend
Companies are automating their mining operations to improve productivity and decrease the number of accidents. Hence, vendors are investing significantly in offering automated solutions. Moreover, there have been recent developments related to automated trucks in the mining industry. Therefore, the rising adoption of automation is expected to drive the growth of the global mining truck market during the forecast period.
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Mining Truck Market: Segmentation Analysis
The mining truck market has been segmented by product (90-150 tons, 154-255 tons, and 290-363 tons) and geography (APAC, Europe, North America, South America, and MEA).
By product, the 90-150 tons segment will have significant market share growth during the forecast period. These trucks are widely used in small mining sites. For the last few years, mining companies have been investing in low-cost operations due to the downturn of the mining industry. This is driving the growth of this segment. Moreover, another factor propelling the growth of the segment is the support for small-scale mining.
By geography, APAC is expected to account for 53% of the market's growth during the forecast period, with China, Australia, and India being the key countries. The rising investments in coal-fired power generation projects will drive the growth of the mining truck market growth in APAC. Moreover, market growth in APAC will be faster when compared to other regions.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Mining Truck Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.86% |
Market growth 2021-2025 |
USD 991.95 million |
Market structure |
Fragmented |
YoY growth (%) |
3.92 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 53% |
Key consumer countries |
China, US, Russian Federation, Australia, and India |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AB Volvo, BAS Holding BV, BEML Ltd., Caterpillar Inc., Epiroc AB, Hitachi Ltd., Komatsu Ltd., Liebherr-International AG, SANY Group, 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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