Press release
Insights into the Global Construction Dumper Market Trends 2024: Size, Share, Report, Forecast To 2032
Construction Dumper Market
The construction dumper market is primarily driven by significant investments by governments, particularly in developing nations, aimed at constructing new infrastructures such as roads, dams, tunnels, residential and commercial buildings, and other public facilities. Furthermore, the expansion of the mining sector to extract metals, coal, and minerals contributes to market growth.
However, the relatively high cost of construction dumpers negatively affects the market. Additionally, challenges such as a shortage of skilled operators and a decline in new construction activities impede market expansion. Nevertheless, the introduction of technologically advanced equipment in the mining sector is expected to present future growth opportunities in the market.
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Market Outlook:
According to a new report published by Allied Market Research, titled, The global construction dumper market size was valued at $20.2 billion in 2022, and is estimated to reach $33.5 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032.
Key Segments:
By Product Type -
Articulated
Rigid
By Fuel Type -
Gasoline
Diesel
CNG
By Application -
Mining
Construction
Others
Top Players:
Liebherr, VOLVO, Hitachi, Komatsu, Caterpillar, John Deere, CNH, Doosan Corporation, JCB, Epiroc AB
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Impacting Factors:
Increase in investment in infrastructure construction activities in Japan boosts the construction dumper market growth. For instance, in March 2021, in collaboration with the Asian Development Bank (ADB), Japan will provide a total of approximately $110 billion of quality infrastructure investment in Asia over the next five years. Such factors will drive the construction dumper market growth.
There are several new projects announced such as Mumbai-Delhi Expressway, worth $2,000 million that will be completed by 2023. Moreover, a total of over $150 billion have been allocated for concrete road construction.
Moreover, in Union Budget 2022-23, The government has given a massive push to the infrastructure sector by allocating US$ 130.57 billion to enhance the infrastructure sector. In addition, many players are focusing on expansion and product launch of their mining equipment fuel type in India. For instance, in February 2022, Ashok Leyland launched India's first Tipper with 9-speed Automated Manual Transmission (AMT) - the AVTR 2825. The new AVTR 2825 with 9 speed AMT can operate in different transmission modes (automated and manual) and deliver high fuel efficiency with its acceleration-based gear shifting. Such strategic moves are expected to provide positive impact in construction dumper market.
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Read More Reports:
Heavy Construction Equipment Market - https://www.alliedmarketresearch.com/heavy-construction-equipment-market
Offsite Construction Market - https://www.alliedmarketresearch.com/offsite-construction-market-A12504
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