Electric Dump Truck Market - By Type (Articulated, Rigid), By Application (Mining, Construction), By Propulsion Systems (Battery Electric, Fuel Cell Electric, Hybrid Electric), Forecast 2023

Description

List of Tables

Global Electric Dump Truck Market size will exhibit 6% CAGR from 2023 to 2032, owing to the expanding electric vehicle charging infrastructure worldwide. The availability of more charging stations helps electric dump truck operators enjoy increased convenience, reduced downtime, and enhanced operational efficiency. This infrastructure expansion encourages the adoption of electric dump trucks and prompts truck manufacturers globally to foray into the EV space, contributing to market growth.

For instance, in November 2022, Caterpillar Inc. announced a successful demonstration of its inaugural battery-electric 793 large mining truck. Additionally, the company has made a substantial investment that aims to convert its proving ground in Arizona into a state-of-the-art testing and validation center focused on sustainability. Caterpillar's achievement in developing the first battery-electric 793 prototype was made possible with active involvement from significant mining customers who are part of Caterpillar's Early Learner program. Notable participants with firm electrification agreements include Freeport-McMoRan, BHP, Newmont Corporation, Teck Resources Limited, and Rio Tinto.

The overall electric dump truck market is categorized based on type, application, propulsion systems, and region.

Articulated electric dump trucks industry will record a healthy growth rate between 2023 and 2032 due to the eco-friendliness and cost-efficiency associated with articulated electric dump trucks. These trucks offer reduced emissions, contributing to cleaner environments. Moreover, their electric drivetrains result in lower operational costs, making them an attractive choice for construction and mining industries looking to reduce both their carbon footprint and operating expenses.

Construction could remain a key application segment for the electric dump trucks market. Dump trucks are in high demand for construction applications because they play a crucial role in material transport and site preparation. Their versatility in hauling heavy loads of construction materials like dirt, gravel, and debris helps streamline construction processes, improve efficiency, and meet project timelines, making them indispensable in the industry.

North America dump truck industry is expanding significantly due to robust infrastructure development and construction activities. Growing urbanization, maintenance of road networks, and investments in large-scale construction projects are driving demand. Moreover, the versatility of dump trucks makes them essential in various industries, further fueling their growth. This apart, increasing product rollouts in countries such as the U.S. and Canada will favor market dynamics in the region.

For instance, in August 2023, Daimler Truck Group unveiled a range of electric trucks, including the e18L, e16L, and e16M models, under the new Rizon brand name for the U.S. market. These vehicles and the Rizon brand made their debut at the Advanced Clean Transportation (ACT) Expo held in Anaheim, California, in May 2023. The electric trucks, falling under Class 4 and 5 medium-duty battery-electric vehicles, offer weight capacities from 15,995 lbs to 17,995 lbs GVW, catering to diverse applications like dry vans, flatbeds, landscape dumps, and reefers.

Product Code: 6217

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Electric dump trucks market 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Type trends
2.5 Application trends
2.6 Propulsion Systems trends

Chapter 3 Electric Dump Trucks Market Industry Insights

3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
- 3.8.1 Partnership/Collaboration
- 3.8.2 Merger/Acquisition
- 3.8.3 Investment
- 3.8.4 Type launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Rising construction and mining activities in Asia Pacific
  - 3.10.1.2 Increasing government focus on environmental concerns
  - 3.10.1.3 Rapid technology advancement in electric dump trucks battery
  - 3.10.1.4 Increasing electric vehicles charging infrastructure
- 3.10.2 Industry pitfalls & challenges
  - 3.10.2.1 High initiate cost associated with electric dump truck
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 BYD
- 4.3.2 Caterpillar
- 4.3.3 Komatsu
- 4.3.4 XCMG
- 4.3.5 Hitachi
- 4.3.6 Liebherr Group
- 4.3.7 Sany
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Electric Dump Trucks Market Estimates & Forecast, By Type (Revenue & Units)

5.1 Key trends, by type
5.2 Articulated
5.3 Rigid

Chapter 6 Electric Dump Trucks Market Estimates & Forecast, By Application (Revenue & Units)

6.1 Key trends, by application
6.2 Mining
6.3 Construction

Chapter 7 Electric Dump Trucks Market Estimates & Forecast, By Propulsion Systems (Revenue & Units)

7.1 Key trends, by propulsion systems
7.2 Battery Electric
7.3 Fuel Cell Electric
7.4 Hybrid Electric

Chapter 8 Electric Dump Trucks Market Estimates & Forecast, By Region (Revenue & Units)

8.1 Key trends, by region
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Russia
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
8.6 MEA
- 8.6.1 GCC
- 8.6.2 South Africa

Chapter 9 Company Profiles

9.1 BEML Limited
9.2 BYD
9.3 Caterpillar
9.4 Daimler
9.5 Epiroc Mining
9.6 Hitachi
9.7 Komatsu
9.8 Kuhn Schweiz AG
9.9 Liebherr Group
9.10 Sany
9.11 XCMG
9.12 ZOOMLION