Overview:

The global track dumper market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Track dumpers are the bulk material carrying vehicles run on a tracked machine and tracks. The tracks are majorly used are of rubber and these tracks makes track dumper high load carrying vehicle. The track dumpers are majorly used in construction industry and mining field to carry material from one location to another.

The track dumpers are categorized based on their size viz. large and mini track dumpers. Mini track dumpers are majorly used at building or road construction sites and in agriculture. However, the large track dumpers are used at mining sites.

Market Dynamics:

Growing mining and construction activities around the globe is a major factor driving growth of the global track dumper market. Many companies operating in mining sector are focusing on capacity expansion and deep mining to increase the production resulting in increased mining activity across the globe. Also, growing urbanization leading to increasing construction activity specifically in emerging economies which is expected to propel growth of the global track dumper market over the forecast period.

In addition, technological advancement in track dumpers and rising development of track dumpers having different capacity is fueling growth of the global market. Many key players are engaged in development of customized and advanced size track dumpers according to specific requirement of end users. For instance, Astrak Group have developed abrasion resistant rubber tracks that reduces the vibration inside the cabin of track dumper and helps to increase driver efficiency during the work process.

Key Trends:

Growing focus on product advancement by key players is key trend driving growth of the global track dumper market. For example, in August 2020, JCB has launched mini electric track dumper in the market. This electric track dumper having capacity to carry up to 500 Kg load. This type of initiatives expected to support growth of the target market over the forecast period.

Regional Analysis:

For detailed understanding of market dynamics, the global track dumper market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America track dumper market is accounted for the major revenue share in 2019. This is owing to growing mining activity in the countries in the region. Also, strong market presence of key players in the region is another factor aids in growth of the regional market.

The market in Asia Pacific region is expected to witness highest growth during the forecast period due to growing construction activity and rising adoption of various type of machinery to reduce the labor cost in countries such as China and India in the region.

Scope of the Report:

Detailed Segmentation:

Global Track Dumper Market, By Type:

• Large Track Dumper
• Mini Track Dumper

Global Track Dumper Market, By Application:

• Mining
• Construction
• Other Application (Agriculture, Forestry, etc.)

Key Players Covered:

Key players operating in the global track dumper market includes JCB, Chikusui Canycom Inc., MERLO S.p.A., Morooka Co. Ltd., Prinoth GmbH, KUBOTA Corporation, Yanmar Holdings Co., Ltd., Menzi Muck AG, Messersí S.p.A., and Terramac LLC.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Track Dumper Market by type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global track dumper market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.