PUBLISHER: Allied Market Research | PRODUCT CODE: 1225005
PUBLISHER: Allied Market Research | PRODUCT CODE: 1225005
The report incorporates the study of the global electric drive mining truck market that focuses on the mining trucks that are an integral part of any mining activities such as transportation or hauling of mining extracts from mining sites to dumping locations. The mining trucks are used to transport heavy loads that cannot be transported by the ordinary load-carrying capacity trucks. These vehicles are specially designed to carry heavy loads and transport these loads from one place to another either on steep slopes or any off-road conditions. These vehicles are generally employed in underground & surface mining locations and proves to be very efficient in operation. Their weight carrying capacity ranges from 90 metric tons to 350 metric tons and above.
At present, government's focus toward extraction of minerals and ores across different locations along with the aim to achieve carbon neutral operation are encouraging OEMs to develop zero-emission high-performance mining trucks, which creates a booster for the growth of the market across the globe. The participants are establishing strategic partnerships to invent new technologies to minimize the carbon emission and to improve their market value by introducing superior quality mining trucks, which leads to the growth of the market across the globe.
The market for electric drive mining trucks is expanding across the globe due to reasons such as high payload capacity, increased credit availability, financing choices, and improved road infrastructure. Additionally, the growing need for transportation options in mining areas followed by the development of heavy-duty mining truck technology open up new market potential for the major players in the industry.
However, rising fuel prices and high truck maintenance costs and increasing carbon emissions from diesel fuel combustion are the factors that create a barrier in the growth of the market. For instance, the U.S. Energy Information Administration (EIA) estimates that in 2020, diesel (distillate) fuel consumption in the U.S. transportation sector resulted in the emission of about 432 million metric tons of carbon dioxide (CO2), a greenhouse gas. This amount was equal to about 26% of total U.S. transportation sector CO2 emissions and equal to about 9% of total U.S. energy-related CO2 emissions in 2020.
For the purpose of analysis, the global electric drive mining truck market is segmented on the basis of type, size, and region. By type, the market is divided into rear dump, bottom dump and others. By size, the market is fragmented into small (90-150 metric tons), medium (151-250 metric tons), large (251-350 metric tons) and ultra (above 351 metric tons). By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the electric drive mining truck market are Kuhn Schweiz AG, EPIROC, Voltas, Terex Corporation, Komatsu Ltd., Hitachi, Ltd., OJSC BELAZ, Caterpillar, BEML Limited and XCMG Group. These companies hold a prominent share in the global mining industry, due to a wider range of products and services offered by the companies to different mining locations across the globe.
Key Benefits For Stakeholders
By Type
By Size
By Region