Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "North America Tipper Truck Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
The latest market research publication highlights substantial growth within the North America Tipper Truck Market, fuelled by the robust expansion in the construction sector and the advent of cutting-edge technologies. With economic and infrastructural developments witnessing a surge, the market is anticipated to flourish, posting strong gains through the forecast period.
Currently standing at a notable valuation of USD 8.14 Billion as of 2022, the North America Tipper Truck Market is projected to maintain a healthy growth trajectory, with an expected Compound Annual Growth Rate (CAGR) of 6.34% towards 2028. This market evolution is predominantly driven by significant demand from construction projects, mining activities, and initiatives to enhance environmental sustainability across the industry.
The dynamic market landscape is shaped by major factors including infrastructural advances and the integration of emergent technologies. Implementation of stringent emission standards and the push towards electrification are transforming manufacturing practices and influencing market competitiveness. Furthermore, the escalating commitment to technological enhancements such as telematics and advanced safety systems is elevating operational standards and redefining fleet management within the sector.
Key Market Drivers:
- Robust Infrastructure Construction: Urban development initiatives and infrastructure enhancements are generating considerable demand for tipper trucks, vital for the efficient transport of construction materials.
- Active Mining and Quarrying Industries: The pivotal role of mining in the movement of minerals and raw materials necessitates durable and capable tipper trucks, bolstering market growth.
- Environmental and Sustainability Focus: A shift towards reduced-emission vehicles, including electric and hybrid models, reflects the region's dedication to environmental conservation.
- Innovative Technological Integration: Advanced technologies enhance safety and performance, catering to the region's prioritization of innovation and stringent safety standards.
Segmental Insights:
- Vehicle Type Insights: The market offers a broad spectrum of tipper trucks, each serving distinct industries and applications, highlighting the versatility and customization potential of the industry.
- Application Type Insights: Diverse applications across construction, mining, and waste management areas underscore the importance of tipper trucks in supporting North America's economy.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $8.14 Billion |
| Forecasted Market Value (USD) by 2028 | $11.68 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | North America |
A selection of companies mentioned in this report includes
- AB Volvo
- Tata Motors Limited
- Caterpillar Inc.
- OJSC Belaz
- Hitachi Construction Machinery Co. Ltd.
- MAN Truck & Bus AG
- BEML Limited
- Komatsu Limited
- Scania AB
For more information about this report visit https://www.researchandmarkets.com/r/cycsfp
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