Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 545 Million | USD 901 Million | 6.5% | 2022 |
The global track dumper market size was worth around USD 545 million in 2022 and is predicted to grow to around USD 901 million by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2023 and 2030.
Bulk material transporting vehicles that operate on tracks are known as track dumpers. Rubber tracks, which are mostly utilized, are what give track dumpers their excellent weight-carrying capacity. To move materials from one place to another, track dumpers are mostly employed in the mining and construction industries. The size of the track dumpers is divided into large and mini track dumpers. Mini-track dumpers are mostly utilized in agriculture and on construction projects for buildings or roads. However, mining locations make use of the large track dumpers.
Infrastructure development propels market growth
The demand for track dumpers is driven by rising investments in infrastructure projects including highways, bridges, tunnels, and urban expansion. These tools are necessary for moving building supplies around construction sites and navigating difficult terrain. For instance, the government-sponsored NIIF will receive funds from the multilateral organization Asian Development Bank (ADB) totaling USD 100 million for the Indian infrastructure sector.
India needs foreign investments to rebuild its infrastructure, including its ports, airports, and motorways, to spur economic growth. One of the industries that receives the most foreign direct investment (FDI) is infrastructure. The 'Housing for All' and 'Smart Cities Mission' programs have benefited from these expenditures. Saudi Arabia is seeking to spend up to $100 billion in India in the fields of energy, petrochemicals, refinery, infrastructure, agriculture, minerals, and mining. Therefore, these facts support the track dumper market growth over the projection period.
High cost limits the market growth to a certain extent
When compared to conventional wheeled dump trucks, track dumpers are often more expensive upfront. For smaller construction firms and organizations with limited resources, the initial acquisition cost might be a significant hurdle. Although track dumpers are renowned for their longevity, they nevertheless need routine maintenance, such as track replacement and hydraulic system servicing. Throughout the machine's life, maintenance expenses may increase, restraining the track dumper industry growth.
Increasing product launches offer a lucrative opportunity for market growth
The increasing product launches are expected to offer a lucrative opportunity for track dumper market growth during the forecast period. For instance, in April 2022, with the introduction of a new electric model, the KC70VSL-4 e, and a new diesel machine, the KC110SL-4, Kubota increased its wide selection of tracked dumpers. Based on the KC70H-4 e, the KC70VSL-4 e includes a lithium battery pack with a 48V and 120 Ah capacity.
Due to its quiet functioning, the new model will be the ideal choice for consumers who operate in city centers. The tracked dumper, which has a changeable track and a self-loading system, offers greater adaptability than the KC70H-4e. The model can move huge amounts of stuff quickly and has a maximum load capacity of 700 kg. The machine's 758 mm width (with the rails retracted) enables users to operate in confined spaces. Additionally, electrically driven, the tracks allow for greater effectiveness and reduced energy usage. The device can be fully charged in three hours and get to 80% in 1.5 hours. A full charge enables a full day of work.
High operational cost poses a major challenge to market growth
Track dumpers can have greater operational expenses due to fuel consumption, maintenance, and track wear & tear, despite being adaptable and capable in difficult terrain. To keep their profitability, businesses must carefully control these costs. Therefore, the high operational cost poses a major challenge to the market growth.
The global Track Dumper industry is segmented based on type, load capacity, application, and region.
Based on the type, the global market is bifurcated into mini track dumper and large track dumper. The mini-track dumper is expected to hold the largest market share over the forecast period. Mini-track dumpers are smaller than regular-track dumpers in size. They are perfect for construction sites with restricted access or cramped conditions since they are built to maneuver through small places. Additionally, mini-track dumpers are adaptable and may be fitted with a variety of accessories and attachments, including cranes, flatbeds, forks, and dump beds. They are excellent for a variety of applications due to their adaptability. Thereby, driving market growth.
Based on the load capacity, the track dumper industry is bifurcated into less than 500 kg, 500-1500 kg, and above 1500 kg.
Based on the application, the global track dumper market is bifurcated into construction, mining, and others. The mining segment is expected to dominate the market during the forecast period. The segment growth is attributed to the rising mining industries.
These dumpers are used in the mining sector for various applications including material transport, underground mining, tailings management, and others. For instance, transporting different commodities, including ore, waste rock, coal, and minerals, from the mining face to processing facilities or stockpiles is the main usage of track dumpers in the mining industry. Moreover, this is also employed to transport tailings, which are waste materials from mining operations, to designated disposal areas, such as tailings ponds or repositories. Thereby, driving market growth.
Report Attributes | Report Details |
---|---|
Report Name | Track Dumper Market |
Market Size in 2022 | USD 545 Million |
Market Forecast in 2030 | USD 901 Million |
Growth Rate | CAGR of 6.5% |
Number of Pages | 206 |
Key Companies Covered | Prinoth, Morooka, Canycom, Yanmar, Takeuchi, Menzi Muck, Kubota, Terramac, Merlo, Kubota, IHIMER, Winbull Yamaguchi Morooka, Canycom, Prinoth, Winbull Yamaguchi, Takeuchi, Menzi Muck, Yanmar, IHIMER, Bergmann, and others. |
Segments Covered | By Type, By Load Capacity, By Application, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Asia Pacific is expected to dominate the market growth over the forecast period
The Asia Pacific is expected to dominate the global track dumper market over the forecast period due to the growing urbanization. A rise in demand for housing, commercial space, and urban infrastructure is a result of the Asia-Pacific region's growing urbanization trend.
Due to their portability and small size, small track dumpers are particularly well-liked in densely populated metropolitan areas. For instance, according to the United Nations report, in the Asia-Pacific area, urbanization is still a defining megatrend. Asia is home to more than 2.2 billion people or 54% of the world's metropolitan population. In Asia, an extra 1.2 billion people will live in urban areas by 2050, a growth of 50%. Additionally, the growing infrastructure development in the region is another important factor that propels the market growth over the forecast period.
The development of infrastructure, such as the building of roads, bridges, railroads, airports, and urban development projects, is being substantially funded by several nations in the Asia-Pacific area. Transporting building supplies and equipment inside of these projects requires the use of track dumpers. For instance, China intended to establish a 15-year plan to build up its transportation system. By 2035, the nation hopes to have doubled the size of its high-speed rail system.
Beijing also plans to boost the length of the nation's high-speed rail network by more than 84% from 2020 to 70,000 km (43,500 miles) by 2035. A 460,000 km network of national expressways and regular highways as well as a 25,000 km system of high-quality inland waterways are also part of the plan. However, the operating length of China's railroad network increased by 2.5% in 2021 to 150,000 km. Therefore, the aforementioned stats drive the market growth during the forecast period.
The global Track Dumper market is dominated by players like:
By Type
By Load Capacity
By Application
FrequentlyAsked Questions
Bulk material transporting vehicles that operate on tracks are known as track dumpers. Rubber tracks, which are mostly utilized, are what give track dumpers their excellent weight-carrying capacity. To move materials from one place to another, track dumpers are mostly employed in the mining and construction industries. The size of the track dumpers is divided into large and mini-track dumpers. Mini track dumpers are mostly utilized in agriculture and on construction projects for buildings or roads. However, mining locations make use of the large track dumpers.
One of the most important reasons driving the growth of the global track dumper market is the expansion of infrastructure investments in the global region. Due to the rising demand for construction, mining operations, and a heavy emphasis on R&D by major players, the worldwide track dumper market is predicted to expand.
According to the report, the global track dumper market size was worth around USD 545 million in 2022 and is predicted to grow to around USD 901 million by 2030.
The global Track Dumper market is expected to grow at a CAGR of 6.5% during the forecast period.
The global Track Dumper market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market due to the growing construction sector.
The global Track Dumper market is dominated by players like Prinoth, Morooka, Canycom, Yanmar, Takeuchi, Menzi Muck, Kubota, Terramac, Merlo, Kubota, IHIMER, Winbull Yamaguchi Morooka, Canycom, Prinoth, Winbull Yamaguchi, Takeuchi, Menzi Muck, Yanmar, IHIMER and Bergmann among others.
The Track Dumper market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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