Global Mining Truck Market 2018-2022 | Rising Adoption of Automation to Boost Growth | Technavio

December 27, 2018

LONDON--(BUSINESS WIRE)--Dec 27, 2018-- analysts forecast the global mining truck market to grow at a CAGR of close to 5% during the forecast period, according to their latest market research report.

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Technavio has released a new market research report on the global mining truck market for the period 2018-2022. (Graphic: Business Wire)

The rising use of electric vehicles (EVs) is one of the major trends being witnessed in the . The demand and popularity of electric vehicles is growing rapidly worldwide. As the entry of several companies that manufacture EVs has reduced their cost, the use of EVs is increasing and several companies have also started manufacturing electric trucks. The use of electric trucks improves the efficiency and reduce the emission of GHG of mining operations. Thus, the rising use of EVs will fuel the growth of the market.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global mining truck market is the rising adoption of automation:

Global mining truck market: Rising adoption of automation

Many companies in the market are automating their mining operations to improve productivity and reduce the number of accidents. The vendors are also making significant investments to offer automated solutions. Several leading vendors have launched different autonomous haulage systems. For instance, in 2016, Komatsu launched 830E and 930E Autonomous Haulage Vehicles. They are also equipping their trucks with technologies such as perception technology, global positioning systems (GPS), onboard intelligence, and sensors such as radars and lasers. Thus, the rising adoption of automation is expected to trigger the growth of the market.

According to a senior analyst at Technavio, “With the recovery of commodity prices and the cost-cutting measures of mining companies, the global mining industry is strongly recovering from the financial crisis of 2008. In addition, the investments in mining activities are also increasing across the world. This is expected to fuel the growth of the global mining truck market during the forecast period.”

Global mining truck market: Segmentation analysis

The global mining truck market research report provides market segmentation by product (90-150 tons, 154-255 tons, and 290-363 tons) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The APAC region held the largest share of the market in 2017, accounting for more than 55% share, followed by the Americas and EMEA respectively. The APAC region is likely to continue dominating the market during the forecast period with the highest incremental growth.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

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SOURCE: Technavio Research

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PUB: 12/27/2018 11:13 AM/DISC: 12/27/2018 11:12 AM


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