Impact of COVID-19 on Track Dumper Market
Track dumpers are widely used in construction, agriculture, and manufacturing for carrying heavy loads and dumping them at the end-location. These heavy-duty machines receive a widespread adoption, thanks to their ease-of-use, effective application, and heavy-duty demand in end-industries. The track dumper market is expected to register modest growth during 2018-2026. The increasing automation, engineering marvels like 3D printing and material innovation, and growing expansion of public infrastructure in the construction sector are expected to remain major wave of growth in the track dumper market.
Track Dumper Market: Notable Developments
As players in the track dumper market continue to debate whether electric vehicles and heavy-duty vehicles go hand-in-hand, a new electric dumper has made its way to the fore. Elektro dumper weighs at 111 tonnes and is 10 m long. This one is loaded with a 4.4 tonne battery which carries the capacity of 600k Wh. The dumper is a major advancement in the truck dumper market as it promises to save over 50,000 litres of diesel each year for end-players. This is a considerable benefit for the end-player as fuel prices continue to rise. Additionally, diesel vehicles also remain prone to high maintenance costs. The carbon emissions might be secondary to various industries. However, the rising regulations requiring them to cut-down fuel emissions are likely to drive significant growth for the truck dumper market in the near future.
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Coal India, a mining giant in India has started the process to procure 7,000 cr. worth of heavy-duty equipment like earth movers, and truck dumpers. The company is on track to move its operations quickly to open cast mines at the earliest. This is a major investment by Coal India and is in line with the company’s earlier efforts to procure indigenous materials. The move is likely to create significant opportunities for players in the truck dumper market.
Truck Dumper Market: Drivers and Restraints
The global truck dumper market is likely to witness major growth in the near future. The construction sector is expected to double till 2030 as major economies including China, the US, and India are expected to undertake major reforms to improve infrastructure. Additionally, growing investments in trade collaborations including building ports, improving connectivity, and notable initiatives like the Belt and Road initiatives are expected to drive growth for the truck dumper market.
The growing demand for truck and dumpers in environmental applications in also on the rise. As waste cleaning becomes more essential, truck dumpers provide a safe way to handle large quanties of toxic waste and transport them to dumb sites. The growing use of truck dumpers in industries, as well as by waste management authorities are expected to result in major opportunities for players in the truck dumper market.
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Truck Dumper Market: Geographical Analysis
Truck dumper market is expected to witness major growth in North America region. The growing demand for heavy-duty applications in construction and smaller applications in growing sectors like Food and Beverage are also expected to drive significant growth for the market. Additionally, automation advancements are expected to increase quality of offerings. Additionally, reliance on alternative fuels is also expected to address costs of heavy-duty industries which are expected to rise in the near future. The truck dumper market is expected to drive significant growth in Asia Pacific region as well.
