Global Load Haul and Dump Trucks Market is Expected to Witness 6.5% CAGR in the Forecast Period 2018-2026

Published On : Jun 23, 2018

Global load haul and dump trucks market is expected to exhibit a CAGR of 6.5% in the forecast period, according to a new market research report Global Load haul and dump trucks Market Report, By Engine Type (Diesel Engine and Electric Engine), By Mining Type (Underground Mining and Surface Mining)  and by Geography.

Manufacturers in the market are focusing on innovations in load haul and dump trucks, which is expected to be a major factor for growth of the global load haul and dump trucks market. This is in order to improve productivity and to increase safety of personnel. Load haul and dump trucks are used in underground mining for loading and transporting of minerals or ore. Integration of automatic control system in load haul and dump trucks helps in controlling LHD from a distance and does not require operators at the sight. This helps in increasing productive and security. For instance, HLS Hard-Line Solutions Inc. is a Canada-based company that provides LDH remote control systems. The company’s radio remote control system permits to operate the load haul dump truck from remote location. Moreover, in 2016, the Ashele Copper Mining Plant launched remote control 2 cubic load haul dump.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/load-haul-and-dump-trucks-market-1851

Browse 15 market data tables* and 27 figures* on "Load haul and dump trucks Market” - Global forecast to 2026.

Key Takeaways of the Market:

  • Asia Pacific held the dominant position in the load haul and dump trucks market in 2017 and is projected to retain its dominance throughout the forecast period. India and China are growth engines in the Asia Pacific market. Growth in the mining industry in the region is one of the major driving factors for growth of the load haul and dump trucks market in this region. For instance, according to World Mining Congress, in 2016, the Asia Pacific region held near 65.1% share of the world’s mining production. China held the dominant position in Asia Pacific mining production in 2016. According to the same source, China held a share of around 40.7% of the total Asia Pacific mining production in 2016.
  • The electric engine based load haul dump truck segment is projected to exhibit the highest CAGR in the forecast period. This growth is attributed to advantages such as zero exhaust emissions, less initial cost, less maintenance cost, and long lifespan. Anchises Technologies Co., Ltd, Caterpillar Inc., and GHH Fahrzeuge are some of the electric load haul dump trucks manufacturing companies. Furthermore, stringent regulations by governments of various countries for reduction of vehicle gas emission have also accelerated demand for electric engines in the global load haul dump truck market. For instance, in 2016, the Indian Ministry of Road Transport and Highways have issued a notification of Bharat Stage (BS) VI emission standards for all vehicle companies to reduce carbon emission. Similarly, Corporate Average Fuel Economy (CAFE) Standards in the U.S. is propagating adoption of energy-efficient automotive by formulating regulations for reduction of petroleum consumption. It is also focused on reducing greenhouse emissions and promoting development of innovative technologies to increase reliance on renewable and conservation of energy sources.
  • The major players operating in the global load haul and dump trucks market are Anchises Technologies Co. Ltd., Atlas Copco, Caterpillar Inc., DUX Machinery Corporation, Eimco Elecon (India) Ltd., GHH Fahrzeuge, Hensley Industries, Inc., Joy Global Inc., KGHM ZANAM S.A, and Mining Technologies International Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

Coherent Market Insights Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.