Global Dump and Mining Trucks Market
Dump and Mining Trucks Market size was valued at USD 26 billion in 2024 and is anticipated to reach a valuation of USD 70.4 billion by the end of 2037, rising at a CAGR of 5.7% during the forecast period, i.e., 2025-2037. In 2025, the industry size of dump and mining trucks is evaluated at USD 27 billion.
The dump and mining trucks market is expanding due to the global demand for heavy-duty vehicles, essential for large-scale mining operations, construction projects and infrastructure development, and continues to grow. Furthermore, the key players are pressing towards automation, electrification, and decarbonization in order to achieve efficiency and lower environmental impact. In July 2024, Fortescue and Liebherr Mining built a strategic partnership to develop zero-emission haul trucks, marking a revolution for mining practices. As part of the broader trend of the industry looking for innovative solutions to meet global sustainability goals and governmental mandates, this partnership demonstrates the companies’ commitment to long-term resilience within the sector.
The industry is witnessing heavy investments in infrastructure and renewable energy projects, leading to higher demand for high-capacity mining vehicles and driving technological development within the industry. Electrified, hybrid, and autonomous mining trucks are now transforming operations through increased productivity and decreased carbon footprints. In January 2024, Hitachi Construction Machinery unveiled its prototype fully electric dump truck powered by ABB's cutting-edge battery systems, representing a milestone in low-emission mining equipment. These public-private partnerships and technological investments highlight the significance of sustainable growth and innovation in the mining and heavy machinery sectors around the globe.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.7% |
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Base Year Market Size (2024) |
USD 26 billion |
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Forecast Year Market Size (2037) |
USD 70.4 billion |
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Regional Scope |
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Truck Type (Rigid, Articulated, Others)
Rigid truck segment is anticipated to capture over 58% dump and mining trucks market share by 2037. Rigid trucks are very popular for their durability and high payload capacity and for their ability to work in heavy-duty mining conditions. At MINExpo 2024 in October 2024, Hitachi Construction Machinery introduced the EH4000AC-5 rigid dump truck to underline the importance of rigid trucks in big mining projects. This launch underscores the need to put resources into sturdy, durable trucks that can endure tough usage in the course of mining operations in order to increase efficiency and safety across mining endeavors across the world.
Capacity (Less than 50 Tons, 50 to 150 Tons, Above 150 Tons)
By the end of 2037, 50 to 150 tons segment is projected to dominate around 48.3% dump and mining trucks market share, due to the need for medium-capacity vehicles that provide increased working range and payload utilization. In April 2024, Sany India launched the SKT105E Electric Dump Truck in response to the growing trend towards sustainable mid-capacity trucks that will help reduce carbon footprint. This segment is fast becoming popular due to its versatility in managing various mining operations while optimizing cost and environmental impact, thus suitable for medium to large scale mining operations.
Our in-depth analysis of the dump and mining trucks market includes the following segments:
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Truck Type |
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Capacity |
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Propulsion Type |
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End use Application |
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Asia Pacific Market Statistics
APEJ dump and mining trucks market revenue is expected to cross USD 24.3 billion by the end of 2037, due to the increased industrialization, expansion of mining operations, and rising need for minerals. The mining industry in the region is underpinned by innovation in heavy machinery and equipment, as well as the transition to electric and self-driven vehicles. With governments across Asia giving importance to the development of infrastructure, the dump and mining trucks market is projected to record strong growth. The region's leading position in terms of global mineral production continues to fuel the need for new-age mining trucks.
India mining industry is steadily inclining due to booming infrastructure projects and a rising demand for minerals within the country. Since mining plays a major role in the Indian economy, there is a steady increase in investments in upgrading fleets and introducing electric mining trucks. The Indian government is also supporting sustainable mining by implementing the use of fuel-efficient and self-driving vehicles. This trend is in line with the increasing focus on improving efficiency and minimizing the effects of operations on the environment, making India a strategic dump and mining trucks market for dump and mining trucks in the region.
As per statistics, China is expected to account for the largest share of the APEJ mining truck market in 2023, with a 10% share of the global market, making it the biggest producer globally. The nation's mining industry and the expansion of infrastructure development necessitate the need for dump and mining trucks. With the enhanced focus on renewable energy in China, mining companies are also using battery-electric mining vehicles to cut emissions. Owing to government support of green technology, China is expected to continue dominating the market for mining equipment while promoting autonomous and electric mining fleets.
North America Market Analysis
North America dump and mining trucks market is set to register growth of more than 5.8% from 2025 to 2037, owing to the rising spending on mining automation and environmental management. The increasing emphasis on emission cuts and improved efficiency is driving the use of electric and self-driving mining trucks in the region. In an attempt to conform to environmental requirements, the use of battery-electric mining vehicles is gradually gaining significance. Also, collaborations between the truck makers and the AI technology suppliers are rapidly enhancing the self-governed hauling systems in mining activities within the region.
In the U.S., mining operations are changing at a very fast rate through the incorporation of artificial intelligence and self-governance technology in large mining trucks. Bell Trucks America signed a deal with Pronto AI in March 2022 to launch autonomous systems on articulated dump trucks to improve efficiency and safety in U.S. mining operations. This partnership is in line with the increasing digitalization in the industry. The automation of the U.S. mining industry is expected to cut down operational costs and enhance efficiency in the mining processes, thus cementing the U.S. as the global leader in mining technology.
Canada dump and mining trucks industry has been focusing on the reduction of carbon footprint and mine site sustainability, which is fostering the electrification of dump and mining trucks. In September 2022, Newcrest Mining, a gold producer based in Australia, said it would transition the Brucejack gold-silver mine located in British Columbia to using only electric trucks. This initiative plans to reduce CO2 emissions by 65,000 tons by 2030, which is the mining sector’s contribution towards sustainable mining. Canada has developed a strong focus on the use of renewable energy and sustainable mining solutions, which makes it one of the most environmentally conscious mining nations in the region.
The dump and mining trucks market is highly competitive, with the key players emphasizing concepts such as sustainability, innovation, and the use of technologies. The key industry participants, including Caterpillar, Komatsu, Liebherr, Hitachi Construction Machinery, and Volvo, are fueling the dump and mining trucks market growth through product portfolio expansion and the development of new autonomous, electric, and hybrid offerings. This competitive environment is driving innovation that focuses on fuel economy, operational technology, and emissions-cutting, making these firms leaders in the industry.
In July 2024, SANY released the SET320S, a 300-ton hybrid mining truck that is suitable for large-scale open-pit mining. This model is an indication of the trend towards the use of both electric and diesel power to achieve increased efficiency in the automotive industry. With an emphasis on the advancement of new-generation mining trucks, key vendors are consolidating their market standing and underlining their strategic interest in the dump and mining trucks category.
Here are some leading companies in the dump and mining trucks market:
Author Credits: Shweta Patidar
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