Construction Dumper Market Revenue Growth Predicted by 2025
Several causes of dumper accident includes overturning, collisions at the blind spots, and incompetence of the drivers among few others. According to our research, around 35% of the overall accounted incidents in the infrastructure segment reported, were related these heavy load vehicles. Requirement to reduce the accidents is expected to be the prominent challenge for the industry participants. Moreover, high total cost of ownership (TCO) is expected to remain the primary challenge for the new equipment sales. Thus, rental segment is expected to present considerable growth prospects for the industry participants, which will lead to significant decline in the new product sales.
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Construction dumpers find major application in transportation of loose materials such as gravel, sand, aggregates and other related materials and equipment. It consists of an open bed box at the back-end of the truck, with a hydraulic piston to lift the trailer or hauler for dumping the material at the required location. Several factors that include growth of infrastructure activities, growth of rental equipment industry, smart city infrastructure demands and the changing regulatory scenario for the emission standards are expected to fuel the industry growth through the forecast timeframe.
Growing infrastructure activities, specifically for residential and transportation, are anticipated to be the primary growth factor
According to Coherent Market Insights, global construction market is expected to witness growth at over 3% CAGR over the forecast period, owing to high infrastructural developments taking place across the major economies, specifically that includes Middle East countries and emerging economies in Asia Pacific such as India, Malaysia and Indonesia. Moreover, proliferating smart city projects, government initiatives regarding provision of residence to the middle and lower economic class population, and the requirement to enhance transport facilities to boost the trade avenues of the country are projected to present strong growth prospects for construction dumper market over the forecast period.
For instance, a white paper released by Government Technology under the name, “Evolution of Smart Cities and Connected Communities”, co-sponsored by the United Parcel Service (UPS) and the Consumer Technology Association, have reported development of around 600 smart city projects in India and around 285 similar projects in China. Interest subsidies for first time home buyers in India, government initiatives to help build new residences on brownfield lands in UK are few of the instances supporting the development of residential sector. This are few of the many factors that will fuel the infrastructure demands which will in turn drive the construction dumper market.
Development of regulations to restrict the greenhouse gas (GHG) emissions are expected to drive the innovation in the heavy load vehicle
EU and U.S. among few other regions are taking substantial leaps to reduce the emission of pollutants and their impacts on the environment, in conjunction with the increased fuel economies. For instance, Environmental protection Agency (EPA) and National Highway Traffic Safety Administration (NHTSA) in U.S have introduced the requirement of reduction in emissions over the next few for heavy vehicles manufacturers. Similarly, European Council (EC) has set certain fuel economy related expectations to be met in the coming years. Such initiatives are expected to propel the innovation and developments in the construction dumper market through the forecast period.
Industry is highly consolidated owing to the presence of international players providing extensive portfolio for infrastructural development. However, industry is expected to remain moderately competitive owing to presence of regional dealers and contractors intervening the businesses in some regions. Key players in the construction dumper market include Caterpillar, Komatsu, J.C. Bamford Excavators, Ashok Leyland, AB Volvo, BEML, Asia Motor Works, CNH Industrial America, Deere & Company, Hitachi Construction Machinery, Kenworth, KAMAZ Motors, Mercedes-Benz, New Holland, Liebherr Group, and Navistar.
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