Belaz and Caterpillar Continue to Dominate Tipper Truck Market Forecasted to Reach $48 Bn by 2023
Growing construction, infrastructure and
mining sectors coupled with improving road infrastructure to propel demand for
tipper trucks across the globe through 2023
According to TechSci Research report, “Global
Tipper Truck Market By Vehicle Type, By Size, By Application, By Region, Competition
Forecast & Opportunities, 2013–2023”, the global tipper truck market is projected
to cross $ 48 billion by 2023, owing to anticipated growth in the infrastructure
and construction sectors, globally, in the coming years. Few of the major construction
projects such as Al Maktoum Airport (Dubai), Jubail II (Saudi Arabia), Dubailand
(Dubai), London Crossrail Project (China), Three Gorges Dam (China), Beijing Airport (China), Great Man-Made River
Project (Libya), etc., are in the pipeline, and these projects would significantly
boost the demand for tipper trucks during the forecast period.
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market data Figures and Tables spread through 260 Pages and an in-depth TOC on "Global
Tipper Truck Market"
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According to a consumer survey conducted by TechSci Research, more than
76% customers are not willing to change their tipper truck brand. Belaz and Caterpillar
grabbed the highest satisfaction level among customers in terms of product
quality, availability and service of tipper trucks, globally. Belaz and Caterpillar are the market leaders with
a cumulative share of more than 30% in the global tipper truck market in 2017, and
both of these companies are expected to lead the market during the forecast
period as well, owing to continuing collaborations with construction and mining companies coupled
with the companies’ strong sales network across the globe. In 2017, 6-Wheeler rigid
tipper trucks dominated the global tipper truck market and this trend is likely
to continue during the forecast period as well, owing to their use across small
as well as large construction and mining projects. Asia-Pacific is the
dominating region in global tipper truck market where a huge number of
large-scale construction and mining projects are being undertaken, followed by Europe
& CIS, North America, South America, Middle East & Africa.
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“Various upcoming greenfield and
brownfield infrastructure projects coupled with rising government expenditure across
the globe towards industrial and construction sectors would fuel demand for tipper
trucks, globally, over the course of next five years. Among different
applications, tippers trucks are extensively used in the construction sector and
this sector generated the highest demand for tipper trucks in 2017, and the
trend is expected to prevail during the forecast period.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Tipper Truck
Market By Vehicle Type, By Size, By Application, By Region, Competition
Forecast & Opportunities, 2013–2023” has analyzed the potential
of tipper truck market
across the globe, and provides statistics and information on market sizes,
shares and trends. The report will suffice in providing the intending clients
with cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by the global tipper
truck market.
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