PUBLISHER: TechSci Research | PRODUCT CODE: 1348741
PUBLISHER: TechSci Research | PRODUCT CODE: 1348741
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India Tipper Truck Market is anticipated to grow at a robust CAGR in the upcoming years. Tipper trucks are also known as dump trucks, dumpers, and tipper lorries. These trucks carry loose materials, such as gravel, stone chips, sand, and loose rocks, from one place to another. They have a material loading slot that is hinged at the back of the vehicle and pistons in the front to deposit or dump materials at the delivery site, such as open-pit mining sites.
The India tipper truck market derives significant growth from an increase in infrastructure projects and the availability of simple financing alternatives offered by financial institutions. The rise in the demand for logistics services is propelling the market substantially. Increased budgetary allocations to infrastructure and rural sectors, combined with rigorous regulatory rules governing vehicle length, are expected to benefit the country's tipper truck market over the next few years.
The rising number of infrastructure and big building projects in the planning stages has resulted in increased demand for tipper trucks. The increase in irrigation and mining activities and the surge in various road development initiatives, such as the Golden Quadrilateral and the Pradhan Mantri Grameen Sadak Yojana, are propelling the tipper truck market forward. Furthermore, the increasing need for transporting large quantities of aggregates, and the significant rise in the demand for multi-axle trucks, backed by an increase in hauling and tipping more output per day, are some of the key factors, driving the growth of the India tipper truck market. The industry is also being driven by the upswing in government spending on urban infrastructure projects and the introduction of fuel-efficient dump trucks to combat rising pollution.
Mining activity necessitates off-site and remote operations, which require the use of heavy commercial vehicles, such as tipper trucks, to handle material transportation. The rise in mining activities, particularly for coal production, has created a significant demand for medium and heavy tipper trucks in India. Tipper trucks are the most technologically advanced and safest trucks to operate in the most demanding and difficult mining situations.
Furthermore, the demand for tipper trucks in power and cement industries has resulted in the expansion of the mining sector. According to the Ministry of Mines, India is the seventh-largest country in terms of bauxite reserves, with roughly 2,908.85 million tons in 2018.
Day by day, tippers and dump trucks are becoming more advanced technologically. The truck range has a unique modular system that is beneficial for clients due to improved production, safety, and efficiency-enhancing features. Customers, in general, want higher operating efficiency in terms of payloads, capacity, mileage, and improved driving comfort. As a result, all new technology revolves around these.
Technological advancement is a significant trend that is gaining momentum in the dump truck industry. Companies in the dump truck business are focused on the development of electric dump trucks with AC control and other features to improve efficiency and production while lowering ownership costs and environmental effects. Telematics is one technology that is undoubtedly transforming the trucking sector, and Bharat Benz's 'Truckonnect' is a prime example. All Bharat Benz trucks come standard with a telematics solution based on Daimler's 'Truckonnect' platform. Customers can remotely monitor all critical performance parameters, including utilization, fuel and AdBlue use, fleet health, and driver behavior, with Truckonnect. Mahindra and Mahindra Ltd. has also introduced the telematics technology, 'DigiSENSE', for tipper trucks to access vital information on a real time basis.
The law for new axle-load norms went into effect in July 2018, raising the allowed Gross Vehicle Weight (GVW) limit for all trucks in India. As the caring capacity of the already-in-place trucks was increased because of the changes in loading capacity norms, the demand for tipper trucks decreased. The government's motivation for this policy change was to minimize congestion and lower the country's carbon footprint. This aspect is expected to stifle the expansion of the India tipper truck market during the forecast period.
Tipper trucks have a high maintenance cost since they are checked regularly, particularly for the tire pressure and suspension system. These trucks are not fuel-efficient as well. The fuel economy of a tipper truck is between 5 and 7 gallons per mile. Due to significant fuel usage, tipper trucks' maintenance costs are substantial.
Batteries, tires, and hydraulics are the three key parts of a tipper truck that require maintenance and can result in high costs. Tire maintenance also includes inspecting the alignment and tread to see if it is damaged. The dumping mechanism runs on its own batteries to maintain smooth operation. These parts are expensive and require regular maintenance, impeding market expansion.
The India tipper truck market is segmented by truck type, tonnage capacity, application, and region. Based on truck type, the market is segmented into light, medium, and large tipper trucks. Based on the tonnage capacity, the market is segmented into 2-16 tons, 16-31 tons, and 31-45 tons. Based on the application, the market is divided into construction, mining, and others. Regionally, the market is classified into North, East, West, and South.
Tata Motors Limited, Ashok Leyland Limited, VE Commercial Vehicles, Daimler India Commercial Vehicles, Mahindra & Mahindra Limited, Caterpillar India Pvt Ltd, Asia Motor Works Limited, MAN Truck & Bus Pvt Ltd., Scania CV Ind Pvt Ltd., and Sany Heavy Industry India Pvt. Ltd. are the key players in the India tipper truck market. These players are focusing on developing advanced technologies to stay competitive in the market and improving their product portfolio to entice consumers.
In this report, the India Tipper Truck Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the India tipper truck market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: