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Dump Trucks And Mining Trucks Market Expected to Reach $92.1 Billion by 2031
PORTLAND, OR, UNITED STATES, May 25, 2023 /einpresswire.com / -- Mining activity has increased as a result of the growing demand for key metals. The growth of the mining and construction industries has led to a greater acceptance of off-road vehicles, including dump trucks and mining trucks, which are used for transporting goods such as rock, sand, iron metal, and many others.
The global market is expected to expand significantly during the forecast period, as evidenced by the presentation of new coalfields and digging destinations for energy-creation activities in steel, concrete, and force area. Governments worldwide are increasing their investment in infrastructure and transportation. This increased interest in infrastructure and transportation will definitely benefit the global dump trucks and mining trucks market growth.
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AMR Says, The dump trucks and mining trucks market was valued at $45.45 billion in 2021, and is estimated to reach $92.1 billion by 2031, growing at a CAGR of 7.4% from 2022 to 2031.
Energy-efficient automobiles are being introduced by manufacturers to lessen the negative effects of mining and exploitation. Companies have been forced to offer a way for diesel motors to reduce their carbon footprint due to strict emission regulations. Simple electric dump trucks that adhere to discharge guidelines and satisfy customer requirements are now being produced by Manufacturers.
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The key players profiled in the dump trucks and mining trucks market report include SANY Group, Caterpillar, Hitachi Construction Machinery Co., Ltd., Liebherr, Volvo, Komatsu, Deere & Company, Zoomlion Heavy Industry Science and Technology Co., Ltd., XCMG Group, and Scania.
The global dump trucks and mining trucks market share is segmented based on type, payload class, engine type, end-use industry, and region. By type, it is classified into rigid and articulated. By payload class, it is classified into less than 100 tonnes and more than 100 tonnes. By engine type, it is classified into internal combustion and electric. By end-use industry, it is classified into construction, mining and others. By region, the dump trucks and mining trucks market analysis across North America, Europe, Asia-Pacific, and LAMEA.
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