Brazil Dump Truck Market Outlook
According to a new report by Expert Market Research titled “Brazil Dump Truck Market Size, Report, Share, Analysis, Demand, Forecast 2023-2028″, the Brazil dump truck market reached a value of approximately USD 320.8 million in 2022. Aided by the rising demand for natural resources, the market is projected to further grow at a CAGR of 7.40% between 2023 and 2028 to reach a value of USD 489.7 million by 2028.
Dump trucks, also known as tippers, are heavy-duty trucks used for trash management, mining, and transportation of loose materials. They are crucial for transporting heavy loads over short to medium distances, resulting in cost- and operational effectiveness.
The main drivers driving the Brazil dump truck market expansion are the country’s expanding mining and construction industries. In addition, the country’s infrastructure improvement, population growth, and continuous technological developments in the design and production of dump trucks are boosting market growth.
The market expansion has also been aided by the developing mining industry, which is a result of the vast mineral resources of Brazil and the increasing focus on effective waste management. Additionally, a significant driver of Brazil dump truck market development has been the expansion of waste management services. Due to their improved capabilities, durability, and fuel efficiency, dump trucks are now essential for heavy-duty transportation.
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Manufacturers are benefitting from technological advancements like automation and electromobility, which have produced more effective and environmentally friendly vehicles. These improvements increase the performance of the truck while simultaneously lowering operating expenses and pollutants, which appeals to purchasers. Also, the rise in interest in sustainable construction activities is anticipated to contribute to the Brazil dump truck market growth.
The market is further expanding as a result of rising demand for models with advanced technologies, including collision avoidance systems, driver monitoring systems, and GPS tracking. Furthermore, to support future market expansion, manufacturers are also concentrating on enhancing the efficiency and safety provided by dump trucks.
The demand for dump trucks in Brazil is also rising as a result of rising prices for minerals, natural resources, and commodities like iron ore and gold ore, among others. Mining industries have a tremendous need for smart mining equipment for both short- and long-term contracts. Transporting materials like sand and gravel, among other things needed in mining processes, is one of the most popular uses for dump trucks.
Brazil Dump Truck Market Segmentation
The market can be divided based on type, engine type, capacity, end-use, and region.
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Market Breakup by Type
- Rear Dump Trucks
- Side Dump Trucks
Market Breakup by Engine Type
- Internal Combustion Engine (ICE)
- Electric Engine
Market Breakup by Capacity
- Less than 50 Metric Ton
- 50 – 100 Metric Ton
- More than 100 Metric Ton
Market Breakup by End-Use
- Construction
- Mining
- Others
Market Breakup by Region
- São Paulo
- Minas Gerais
- Rio de Janeiro
- Bahia
- Rio Grande do Sul
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Brazil dump truck companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Caterpillar Inc.
- AB Volvo
- Komatsu Ltd.
- The Liebherr Group
- Deere & Company
- Sandvik AB
- Industries Machinery Perlini spa
- Trelleborg AB
- Others
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