The ‘Brazil Dump Truck Market Size, Share, Demand, Analysis, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Brazil dump truck market, assessing the market on the basis of its segments like types, engine types, capacities, end-uses, and major regions.
Brazil Dump Truck Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Around USD 320.8 Million
- Forecast CAGR (2023-2028): 7.40%
- Forecast Market Size (2028): Nearly USD 489.7 Million
A major driver of the Brazil dump truck market is the rising demand for dump trucks powered by electric engines due to their improved functionalities. Electric engines offer high efficiency, remote control, and low operational costs, eliminate the requirement for engine warm-up, and minimise occupancy. Moreover, such engines feature few mechanical parts to lower the necessity of maintenance and their regenerative braking allows the quick recovery of energy.
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The robustly growing agriculture sector in Brazil has led to an increase in the demand for dump trucks in areas with increased farming activities. These trucks are extensively utilised for the transportation of crops and fertilisers on an agricultural site. Furthermore, the growing demand for crops to ensure food security for the rising population is also expected to fuel the market in the coming years.
Another factor that bolsters the Brazil dump truck market is the rise in mining activities in the country due to the surge in demand for mineral and natural resources such as coal, and petroleum. Dump trucks provide higher speed for the rapid transportation of goods from the mining sites to industrial locations, enhancing the productivity of the mining projects.
Brazil Dump Truck Industry Definition and Major Segments
A dump truck, also known as a dump trailer or dump lorry, is used for the transportation of goods and materials to and from a construction or mining site. These trucks have a container attached on the back, which is utilised for loading, transporting, and unloading materials such as dirt, natural resources, and minerals.
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On the basis of type, the market is classified into:
- Rear Dump Trucks
- Side Dump Trucks
Based on engine type, the Brazil dump truck market is segmented into:
- Internal Combustion Engine (ICE)
- Electric Engine
On the basis of capacity, the market is categorised into:
- Less than 50 Metric Ton
- 50 – 100 Metric Ton
- More than 100 Metric Ton
Based on end-use, the market is classified into:
Based on region, the market is divided into:
- São Paulo
- Minas Gerais
- Rio de Janeiro
- Rio Grande do Sul
Brazil Dump Truck Market Trends
A key trend propelling the growth of the Brazil dump truck market is an increase in construction activities due to rapid urbanisation and rise in the population of Brazil. Several government initiatives to fund the development of infrastructure such as roads, highways, and commercial spaces, among others, also favour the market growth. Furthermore, the rising demand for residential units in urban cities is also expected to accelerate construction activities, consequently propelling the market demand.
Market players are developing dump trucks with advanced features such as GPS tracking, collision avoidance feature, and monitoring solutions to enhance the drivers’ safety and gain a competitive edge. Research and development activities aimed at surging the implementation of innovative measures for truck components are crucial Brazil dump truck market trends.
Manufacturers are attempting to develop and launch advanced components that can upgrade the functionality of the truck, which is further expected to catalyse the market value in the coming years.
Key Market Players
The major players in the Brazil dump truck market report are Caterpillar Inc., AB Volvo, Komatsu Ltd., The Liebherr Group, Deere & Company, Sandvik AB, Industries Machinery Perlini spa, and Trelleborg AB, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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