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2021
Haul Truck Market

Haul Truck Market by Capacity (Less than 5.5 tons, 5.5 to 8.5 tons, 8.5 to 12 tons, 12 to 15 tons, 15 to 20 tons, and more than 20 tons), Engine Type (Diesel, and Electric), and Application (Building Construction, and Mining Industry): Global Opportunity Analysis and Industry Forecast, 2021–2030

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Dec 2021 | 163 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Haul trucks are rigid off-highway, rigid trucks specifically engineered for use in high-production mining and heavy-duty construction environments. Haul trucks are also used for transporting construction equipment from one location to another. In fast-growing economies and developing markets, the construction industry is expected to grow significantly in the coming years. Advancements in the construction and mining industries have led to the higher acceptance of off-road vehicles such as haul trucks, which are used for transporting loose materials (gravel, sand, etc.). Different types of haul trucks are available based on payload capacity. The highest payload capacity haul truck is generally known as ultra-class trucks. Ultra-class trucks can carry a payload capacity of above 300 tons. The haul trucks market is transitioning between the growth and mature stages, and the haul truck production is directly related to the expansion in the construction sector. Moreover, a strong outlook of the construction and mining industry in the coming years will provide significant opportunities for haul truck manufacturers.

Market Scope and Structure Analysis:

Report Metric

Details

  Market size available for years

  2020–2030

  Base year considered

  2020

  Forecast period 

  2021–2030

  Forecast units

  Value (USD)

  Segments covered

  Capacity, Engine Type, Application, and Region

  Regions covered

  North America, Europe, Asia-Pacific, LAMEA

  Companies covered

Caterpillar Inc., Komatsu Ltd., OJSC BELAZ, Dheere & Company, AB Volvo, Hitachi Construction Machinery Co Ltd., Terex Trucks, The Liebherr Group, KGHM Zanam SA, and DUX Machinery Corporation.

 

COVID-19 Impact Analysis

  • The transportation industry has completely been shut due to the pandemic which has created new challenges for the cargo and production houses to move their goods from one place to another. The fear of spreading COVID-19 to coworkers, along with drastically diminished demand and has allegedly forced workers not to operate in contaminated places or cities resulting in huge problem. The Original Equipment Manufacturer (OEM) is doing what they can to manage the situation. Many weeks of halt on the production to reduce the virus spread among coworkers while simultaneously preparing for far lower sales to minimize their losses. The spread of the virus has caused significant impact for the transportation department as they have to encore new investments to protect their employees from getting affected. In the unlock ongoing process, the transporting companies are coming up with new rules and regulations to face these difficult situations 

Top Impacting Factors
Increase in infrastructure investments globally, increased supply of goods and materials to various end-users, and rise in underground mining projects drive the growth of the market.
High capital investment hinders the growth of the market.
Rise in global economy, and rise in demand for lead & other minerals act as an opportunity for the market investments.

The Haul Truck Market Trends are as Follows:
Increasing Infrastructure Investments Globally 

  • The governments globally are getting more concerned about the infrastructure and working on it to enhance it due to several reasons including attracting international tourism, and to promote economic recoveries. Furthermore, governments across the globe are taking initiatives to educate people about waste management and recycling. This, in turn, is expected to drive the global haul truck market. Furthermore, the trucks manufactured presently are more reliable, effective, fuel-efficient, and have a higher load-carrying capacity, as compared to previously manufactured trucks which have created significant market opportunities for the haul truck market which will expand further throughout the forecast period.

High Capital Investment 

  • Haul trucks require high capital investment as well as high maintenance costs, which is anticipated to be a prime factor hampering the growth of the haul trucks market soon. Moreover, haul trucks need qualified drivers to handle the vehicles, which would serve as a restraining factor for the growth of the haul trucks market throughout the forecast period.

Key Segments Covered:

Segments

Sub-segments

  Capacity

  • Less than 5.5 tons
  • 5.5 to 8.5 tons
  • 8.5 to 12 tons
  • 12 to 15 tons
  • 15 to 20 tons
  • More than 20 tons

  Engine Type

  • Diesel
  • Electric

  Application

  • Building Construction
  • Mining Industry

  Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the haul truck market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the haul truck market.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the haul truck market.
  • The report provides a detailed haul truck market analysis based on competitive intensity and the competition that will take shape in coming years.

Questions Answered in the Haul Truck Market Research Report:

  • Who are the leading market players active in the haul truck market?
  • What would be the detailed impact of COVID-19 on the market?
  • What are the current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the haul truck market?
  • What are the future projections that would help in taking further strategic steps? 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
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  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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