The global construction dumper market size was valued at $16.8 billion in 2021, and is estimated to reach $27 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.
Dumpers trucks are essential pieces of machinery designed to haul heavy loads of materials such as gravel or dirt. This construction equipment is highly adopted in mining, forestry & agriculture and construction sectors. However, there are two different kinds of construction dumpers trucks which include rigid and articulated. Articulated dump trucks provide greater flexibility by separating the cab and the body. However, rigid dump trucks may still prove more effective in certain working conditions and circumstances.
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Major driving factors of the construction dumper market are extensive increase in investments by governments, majorly in developing countries on constructing new infrastructures such as roads, dams, tunnels, residential & commercial buildings, and other public infrastructures. Moreover, expansion of mining sector for extracting metals, coal and minerals are fueling the construction dumper market growth. However, cost of construction dumpers is slightly high which negatively impacts the market. In addition, lack of skilled & qualified operators and decrease in new construction activity are few factors that hinder the market growth. Moreover, introduction of technologically advanced equipment in mining sector is expected to provide future growth opportunities in the market.
In 2021, Asia-Pacific dominated the global market and accounted for majority of construction dumper market share in terms of revenue. Moreover, the market in Asia-Pacific is growing with high CAGR, owing to urbanization, industrial & infrastructure development in countries such as China, India, and Japan. Moreover, favorable government investments to promote infrastructure construction such as roads, bridges, highways, and tunnels propel the market growth.
Furthermore, on the basis of application, the construction segment is anticipated to grow rapidly during the forecast period, owing to rise in investments in infrastructure activities, which further increases demand for construction dumper. For instance, in November 2021, the U.S. President Biden signed the Infrastructure Investment and Jobs Act (IIJA) also known as the Bipartisan Infrastructure Law. The Bipartisan Infrastructure Law is the largest long-term investment in infrastructure sector. It provides $550 billion over fiscal years 2022 through 2026 in infrastructure, including in roads, bridges, and mass transit, water infrastructure, resilience, and broadband. Thus, increasing construction activities are expected to boost the demand for construction dumper.
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However, during the COVID-19 pandemic, various manufacturers in the construction dumper market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of construction dumper companies. In addition, lack of manpower and raw materials also constricted supply of equipment of construction dumper system, which negatively influenced growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of construction dumper companies.
Key Findings of The Study
- The report provides an extensive analysis of the current and emerging global construction dumper market trends and dynamics.
- Depending on product type, the articulated segment has dominated the market, in terms of revenue in 2021 and rigid segment is projected to grow at a significant CAGR during the construction dumper market forecast period.
- By fuel type, the diesel segment has registered highest revenue in 2021.
- By application, construction segment has registered highest revenue in 2021.
- Asia-Pacific is projected to register highest growth rate in the coming years.
- The key players within the global construction dumper market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the construction dumper industry.
- The report provides an extensive analysis of the current trends and emerging opportunities of the market.
- In-depth global construction dumper market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
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