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According to the estimates by IMARC Group, the global mining truck market is expected to grow at a CAGR of 4.7% during the forecast period (2021-2026).
A significant rise in the construction industry in recent years and an increase in the demand for smooth and efficient transportation of mined materials are spurring the market growth.
At present, several organizations are focusing on automating mining operations to enhance their productivity and reduce the damage caused by on-site accidents. This represents one of the major trends in the mining truck market.
The mining truck industry is experiencing negative growth due to lockdowns announced by governments of several countries to curb the spread of the coronavirus disease (COVID-19). This has led to human workforce shortage and suspension of operations at numerous mining sites.
On the basis of the type, the market has been classified into the bottom dump, rear dump, lube, tow, water and others.
The market has been analyzed based on the application into coal, iron, copper, aluminum and other mining.
Based on the payload capacity, the market has been categorized into < 90, 90 ≤ 149, 150 ≤ 290 and > 290 Metric Tons.
The market has been bifurcated on the basis of the drive into the mechanical and electrical segments.
On the geographical front, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
Leading industry players are BEML Limited, Bryan Industries Pty Ltd, Caterpillar Inc., CNH Industrial N.V., Deere & Company (Delaware Corporation), Doosan Corporation, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Kress Corporation, OJSC BELAZ (Management Company of Holding BELAZ-HOLDING), Sany Group, Voltas Limited, Volvo Group and XCMG Group.
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