What is the current market size and future outlook for the dump trucks market?
The dump trucks market size has grown strongly in recent years. It will grow from $55.79 billion in 2024 to $60.12 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to market expansion and globalization, material innovation in manufacturing, economic growth and demand, safety and efficiency standards, urbanization and development.
The dump trucks market size is expected to see strong growth in the next few years. It will grow to $84.61 billion in 2029 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to adoption of advanced telematics, rise in infrastructure development, demand for efficient hauling solutions, shift towards electric and hybrid models, focus on safety and automation. Major trends in the forecast period include regulatory compliance and emission standards, efforts for ergonomic and comfort features, increased payload capacity, rise in mining and construction activities, modular and versatile designs.
Get Your Free Sample of The Global Dump Trucks Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6682&type=smp
Which Market drivers have played a significant role in driving the dump trucks market?
The increase in government funding for substantial infrastructure is expected to drive the growth of the dump trucks market. There is an increase in government spending on roads, transport, defense, healthcare, and other infrastructures to foster economic growth. The infrastructure activities such as construction require dump trucks for loading and unloading the construction materials and wastes. In turn, it created a huge demand created for dump trucks in response to the increasing government funding for substantial infrastructure as they are widely employed in infrastructure construction. For instance, in July 2024, according to the Office for National Statistics (ONS), a UK-based government agency, total investment by the UK general government in infrastructure rose by 9.6% to £26.0 billion ($32.5 billion) in current prices in 2022 compared to 2021. Therefore, increased government funding for infrastructure is expected to boost demand for dump trucks market during the forecast period.
What are the key segments within the dump trucks market?
The dump trucks market covered in this report is segmented –
1) By Type: Rear Dump Trucks, Side Dump Trucks, Roll-Off Dump Trucks
2) By Engine: Internal Combustion Engine (ICE), Electric Engine
3) By End User: Mining, Construction, Infrastructure, Military, Agriculture, Other End Users
Subsegments:
1) By Rear Dump Trucks: Standard Rear Dump Trucks, Articulated Rear Dump Trucks
2) By Side Dump Trucks: Single Side Dump Trucks, Dual Side Dump Trucks
3) By Roll-Off Dump Trucks: Open-Top Roll-Off Trucks, Container Roll-Off Trucks
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/dump-trucks-global-market-report
Which key players are shaping the dump trucks market?
Major companies operating in the dump trucks market include BYD Company Limited, FAW Group Corporation, Caterpillar Inc., Daimler Group, Deere & Company, Volvo Group, TATA Motors Limited, Sany Heavy Industry Co. Ltd., PACCAR Inc., Komatsu Limited, CNH Industrial NV, Scania AB, Iveco S.p.A., Mahindra & Mahindra Ltd., Liebherr Group, Xuzhou Construction Machinery Group Co. Ltd., Doosan Corporation, Hino Motors Ltd., MAN Truck & Bus AG, Hitachi Construction Machinery Co. Ltd., Sinotruk Limited, Hyundai Heavy Industries Co. Ltd., Ashok Leyland Ltd., BAS Mining Trucks, Terex Corporation, XCMG Group, Kenworth Truck Company, OJSC BELAZ, Mack Trucks lnc., Bell Equipment Company SA, Curry Supply Company, Bell Trucks America Inc.
Which transformative trends will shape the dump trucks market landscape?
Major companies operating in the dump trucks market are developing technological developments, such as automatic fire extinguishers, to enhance safety protocols, mitigate fire risks, and improve the reliability of their vehicles in demanding operational conditions. Automatic fire extinguishers are devices that autonomously detect and extinguish fires, utilizing different agents like water or foam. They activate on their own to reduce damage and improve safety in high-risk areas. For instance, in December 2023, Propel Industries Private Limited, an India-based company that specializes in manufacturing crushing and screening equipment, launched two electric vehicle (EV) dump trucks, the 470 MEV and 470 HEV, at EXCON 2023. These trucks, designed for the Indian mining sector, feature customizable battery packs ranging from 171 to 450 kWh, allowing for 6 to 12 hours of driving on a single charge, with rapid 0-100% charging in one hour. The EV dump trucks significantly reduce operating costs to one-third or one-fifth compared to fossil fuel trucks. They are built with a reinforced chassis for durability and equipped with advanced safety features, including anti-lock braking systems (ABS) with hill start assist and heavy-duty hub reduction axles.
How do regional factors impact the dump trucks market, and which region is the largest contributor?
The countries covered in the dump trucks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Dump Trucks Market Report 2025 Offer?
The dump trucks market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The dump trucks refer to large machinery which carries huge quantities of loose materials including soil, sand, ores, gravel, and construction wastes. The dump trucks are equipped with special tillage opening that allows the dumping of materials. They are used for earthmoving, construction, and mining operations.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6682
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
