PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1529001
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1529001
Mining Trucks Market Size - By Mode of Operation (Autonomous, Manual), By trucks (Rigid Frame Haul Trucks, Articulated Haul Trucks, Off-Highway Trucks, Underground Mining Trucks), By Payload Capacity, By Propulsion & Forecast, 2024 - 2032
Mining trucks market size is expected to witness over 5.5% CAGR between 2024 and 2032 driven by the increasing demand for minerals and metals across various industries, such as construction, manufacturing, and technology. With global urbanization and industrialization continuing to rise, there is a heightened need for raw materials like iron ore, copper, coal, and other essential minerals. As per Worldbank.org, the global urban population is projected to reach 6 billion by 2045. This demand is compelling mining companies to expand their operations and invest in more efficient and larger-capacity mining trucks to improve productivity and reduce operational costs.
Rising substantial investments in infrastructure development globally will also fuel market growth. Governments and private sectors are investing heavily in large-scale infrastructure projects, including roads, bridges, airports, and residential and commercial buildings, which require expansive construction materials sourced from mining activities.
The mining trucks industry is divided into modes of operation, trucks, payload capacity, propulsion, and region.
Based on trucks, the market size from the off-highway trucks segment is slated to depict significant growth between 2024 to 2032 due to their critical role in efficiently transporting large volumes of extracted materials in challenging mining environments. Off-highway trucks are specifically designed to operate in rugged terrains and under extreme conditions to offer superior durability, high payload capacity, and enhanced maneuverability.
Mining trucks market from the hybrid electric propulsion segment will record a significant growth rate through 2032 owing to its ability to significantly reduce fuel consumption and emissions while enhancing operational efficiency. Hybrid electric mining trucks combine traditional diesel engines with electric power, resulting in lower operating costs and reduced environmental footprints. Hybrid electric trucks also offer improved performance in terms of torque and power delivery, making them more suitable for the demanding conditions of mining operations.
North America mining trucks industry size will exhibit decent growth through 2032 fueled by the strong demand for minerals and metals used in various sectors, including technology, manufacturing, and renewable energy. The increasing adoption of automation and digital technologies in mining operations is enhancing the efficiency and productivity of mining trucks in the region, making them indispensable for modern mining projects.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Manufacturers
- 3.2.2 Technology providers
- 3.2.3 Raw material and component suppliers
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Patent analysis
- 3.6 Key news & initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Increased demand for minerals globally
- 3.8.1.2 Expansion of mining operations
- 3.8.1.3 Increasing technological advancements
- 3.8.1.4 Rising demand for autonomous mining trucks
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 Regulatory changes increase compliance costs for truck manufacturers
- 3.8.2.2 Fluctuating commodity prices affect mining investment decisions
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Mode of Operation, 2021 - 2032 ($Bn, Units)
- 5.1 Key trends
- 5.2 Autonomous
- 5.3 Manual
Chapter 6 Market Estimates & Forecast, By Trucks, 2021 - 2032 ($Bn, Units)
- 6.1 Key trends
- 6.2 Rigid frame haul trucks
- 6.3 Articulated haul trucks
- 6.4 Off-highway trucks
- 6.5 Underground mining trucks
Chapter 7 Market Estimates & Forecast, By Payload Capacity, 2021 - 2032 ($Bn, Units)
- 7.1 Key trends
- 7.2 Less than 100 tons
- 7.3 100-200 tons
- 7.4 200-300 tons
- 7.5 Above 300 tons
Chapter 8 Market Estimates & Forecast, By Propulsion, 2021 - 2032 ($Bn, Units)
- 8.1 Key trends
- 8.2 Diesel
- 8.3 Hybrid electric
- 8.4 Others
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Russia
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
- 9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA
Chapter 10 Company Profiles
- 10.1 Atlas Copco
- 10.2 BELAZ
- 10.3 Caterpillar Inc.
- 10.4 Daimler AG
- 10.5 Doosan Corporation
- 10.6 Epiroc AB
- 10.7 Hitachi Construction Machinery Co., Ltd.
- 10.8 Hyundai Construction Equipment
- 10.9 Komatsu Ltd.
- 10.10 Liebherr Group
- 10.11 Navistar
- 10.12 Paccar Inc
- 10.13 Sandvik AB
- 10.14 SANY Group
- 10.15 Terex
- 10.16 Terex Corporation
- 10.17 Traton
- 10.18 Volkswagen
- 10.19 Volvo Group
- 10.20 XCMG Group
