New Mining Truck Market Research 2020-2024 Delineates Negative and Inferior Growth | Technavio

LONDON--(BUSINESS WIRE)--The new mining truck market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the mining truck market.

Get FREE report sample within MINUTES

"One of the primary growth drivers for this market is the growth of the mining industry,” says a senior analyst for industrials at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the mining truck market size to grow by USD 861.57 million during the period 2020-2024.

Mining Truck Market Segment Highlights for 2020

• The mining truck market is expected to post a year-over-year growth rate of -18.21%.
• Based on the product, the 90-150-tons trucks segment led the market in 2019. The increase in the adoption of 90-150-tons mining trucks and the support for small-scale mining are driving the growth of the segment.
• The market growth in the segment will be significant during the forecast period.

Regional Analysis

• 56% of the growth will originate from the APAC region.
• The growing developments in the mining industry of the emerging economies will significantly drive mining truck market growth in APAC during the forecast period.
• China, Australia, and India are the key markets for mining trucks in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Related Reports on Industrials Include:

Global Mining Waste Management Market- The mining waste management market is segmented by geography (APAC, North America, Europe, South America, and MEA). Click Here to Get an Exclusive Free Sample Report

Global Mining Ventilation Systems Market- The mining ventilation systems market is segmented by product (hardware, software, and services) and geography (APAC, North America, South America, MEA, and Europe). Click Here to Get an Exclusive Free Sample Report

Notes:

• The mining truck market size is expected to accelerate at a CAGR of over 3% during the forecast period.
• The mining truck market is segmented by product (90-150 tons, 154-255 tons, and 290-363 tons) and geography (APAC, Europe, North America, South America, and MEA).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including AB Volvo, BAS Holding BV, BEML Ltd., Caterpillar Inc., Epiroc AB, Hitachi Ltd., Komatsu Ltd., Liebherr-International AG, SANY Group Co. Ltd., and Tata Motors Ltd.

Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.