Understanding Impact of COVID-19 on Mining Dump Trucks Market
Mining dump trucks are utilized for the transportation of released rocks and bits during the mining process. These released rocks and bits are transported to end-users’ sites. Contractors engaged in the general construction business are switching from highly priced dumping trucks to mining dump trucks, as they are low-priced and with high operational efficiency.
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Mining trucks with different pay-load capacities are permitted to ply on the highways. Due to increase in mining activities and development of new mining sites, especially new coalfields; the production of rigid machines such as mining dump trucks has increased over the years. Demand from construction and cement sectors also remains buoyant.
Based on product type, the global mining dump trucks market can be segmented into rear dump trucks, bottom dump trucks, lube trucks, tow trucks, water trucks, and others. Mining dump trucks are large-bottom dump trucks, which transport or haul a large amount of materials. The choice of the type and size of a mining dump truck would depends on numerous factors including the size of mine, type of mine, mined minerals, excavation machinery available, and the capital investable or invested.
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Based on capacity, the mining dump trucks market can be segmented into: 90–110 metric tons, 127–150 metric tons, 154–190 metric tons, 218–255 metric tons, 290 metric tons, and 308–363 metric tons. Based on mining type, the market can be segregated into open-pit mining and underground mining. There are several companies involved in the supply of dumping trucks. Generally, they have short-term or long-term contracts with the mining companies.
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Several mining companies across the globe are opting for high-capacity mining dump trucks with greater operational efficiency. Increase in the exploration of new coalfields and mining of precious metals are the key factors promoting the growth of the mining dump trucks market. Mining trucks, also known as haul trucks, can be efficiently used in off-road and off-highway conditions. Cutting-edge design and technology allow the companies to avoid any breakdown or delay. Mining dump trucks are specifically engineered for use in mining environments and heavy-duty working conditions.
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In 2012, Hitachi launched EH5000AC-3, which is a large-sized, rigid–frame, dump truck. Payload capacity of this truck is 326 tons and the overall length of 15.5 meters. Caterpillar launched 795F AC, a truck with the payload capacity of 345 tons. OJSC BELAZ, a Russian company, launched the 75600 series of mining dump trucks. These are currently one of the largest mining dump trucks in the world. Terex Corporation launched the MT 5500AC series of mining dump trucks with payload capacity of 598 tons.
Growth of the mining industry is the primary driver for the mining dump trucks market. Use of coal as an energy source is increasing in several end-use industries such as steel. The growing mining industry across the globe, especially Asia Pacific, is likely to result in significant growth of the global mining dump trucks market. Furthermore, increasing demand for electricity is expected to augment the global demand for coal, which would lead to mining dump trucks witnessing high demand in the next few years. Globally, China accounts for the maximum coal production, followed by the U.S. In Europe, Russia leads in terms of coal production, followed by Germany and Poland.
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Key manufacturers and suppliers of mining dump trucks include Caterpillar, Inc., European Truck Factory GmbH, Hitachi Construction Machinery Co., Ltd., AB Volvo, Komatsu Ltd., BAS Mining Trucks, and OJSC Belaz.
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