Tipper Body Market Is Expected to Witness CAGR of 4.3 % During the Forecasted period (2019-2027) - Coherent Market Insights

The “Global Tipper Body Market, by Tipper Type (Roll – Off Tipper Body, 3 – Way Tipper Body and Rear Tipper Body), by Load Carrying Capacity (Below 15 Tons, 15 – 30 Tons and 30 Tons & Above), by Mechanism (Hydraulic and Pneumatic), by Frame Material (Steel and Aluminum) by Load Carrying Capacity (Mining, Construction, Waste Management, Marine Services, and Others) and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 5,209.2 million by 2027, witnessing a CAGR of 4.3% during the forecast period (2019-2027), as highlighted in a report published by . Market Overview Tipper body is installed on dump trucks or tipper trucks and finds major applications in construction industry to perform tasks such as loading, shifting, and transportation of various materials. The tipper body is comprised of cylinder, tipper body frame, and tipper frame. The dimensions of tipper body frame and tipper frame vary according to the dimension of vehicle chassis. It is typically used for heavy commercial vehicles and light commercial vehicles where human interventions are not required. The tipper body is operated with the help of hydraulic or pneumatic lifting arrangements. Tipper body has provide better alternative to traditional tractor trailers, which has increased its demand in the recent past.  The global tipper body market is estimated to account for US$ 3,727.1 Mn in terms of value and 72.3 thousand units in terms of volume by the end of 2019 Market Driver Increasing environmental issues and stringent polices regarding waste management are expected to drive the global tipper body market during the forecast period Rising environmental issues worldwide is and strict regulatory policies formed by the government regarding dumping of waste is the major factor driving the market growth. According to The World Bank, the world generates 2.01 billion ton of municipal solid waste annually, of which 33% is not managed in an environmentally safe manner. This has warranted the disposal of solid waste at safe place that will not harm the surrounding environment, which in turn, is expected to drive the market growth in the near future. Market Opportunities Proactive research and development activities to innovate new technology and product are major growth opportunities in the market Market players around the world are involved in research and development activities, in order to innovate advanced technologies. Increasing demand for automation in tipper vehicles and comfort in operation is expected to pose excellent growth opportunities for market players in the near future. For instance, introduction of advanced components in the driver’s cabin that have enhanced the efficiency in all adverse weather conditions.       Market Restraints Strict regulatory policies regarding manufacturing of tipping body is expected to restrain the global tipper body market growth over the forecast period Passenger vehicles and trucks are identified major reasons behind air pollution. According to the World Health Organization (WHO), in 2012, air pollution caused deaths of around 3.7 million people aged 60 years and below. Passenger cars and trucks account for maximum emission of nitrogen oxide, carbon monoxide, and other pollutants. Moreover, transportation leads to more than half of carbon monoxide and nitrogen oxides production. For instance, China and India are major automotive hubs in South Asia where national capitals Beijing and New Delhi respectively have started facing air pollution problems due to uncontrolled limit. However, other vehicles are effective alternative to curb pollution and are promoted by the authorities to reduce such complications. Key Takeaways

• The global tipper body market is projected to witness CAGR of 4.2% during the forecast period (2019- 2027), owing to increasing demand for heavy duty vehicles and increasing environmental issues.
• Asia Pacific held the dominant position in the global tipper body market in 2019, and is expected to retain its dominance throughout the forecast period. This is owing to huge customer base in this region and large automobile market and manufacturers present in this region.
• North America is expected to show substantial growth throughout the forecast period, owing to the several rules, regulations, and standards put forward for regarding waste management.
• Among frame type, the steel segment held dominant position in the market in 2019, and is expected to retain its dominance during the forecast period. This is owing to availability of steel at low cost compared to aluminum and steel also offer high strength then aluminum.
• Key players operating in the global tipper body market are Schmitz Cargobull AG, Crysteel Manufacturing Inc., Thompsons (UK) Ltd., Ingimex Ltd., VFS (Southampton) Ltd, and Cantoni & C S.p.A.  and others

Market Trends

1. Research and development in latest technologies is one of the major trends the market

Key companies in the market are investing heavily in research and development activities. Companies are focused on developing novel products with increased capacity of work and enhanced efficiency that will improve the work experience for the vehicle operator. This, in turn, is expected to increase the demand from developed regions, owing to rising construction activities. For instance, the Innovative Autonomous Haulage Vehicle (IAHV) developed by Komatsu, can travel at a top speed of 40 mph and can haul a payload of 230 metric ton, which is typically required for construction and mining works.

2. Production of cost-effective products is another prominent trend in the market

Tipper vehicles are extremely expensive and not affordable to all business persons in emerging economies. Thus, companies are focused on developing cost-effective products for emerging economies such as India, China, and South Africa that are equipped with enhanced load capacity and efficient overall performance. This, in turn, is expected to propel the global tipper body market growth in the near future. Key Developments

1. Key companies in the market are launching new products, to gain competitive edge in the market. For instance, in April 2016, Crysteel Manufacturing, Inc. introduced new Aluminum Landscape line with lightweight efficiency and durability.
2. Key players are focused on gain regulatory approval, to enhance their global presence. For instance, in 2016, Ingimex Ltd. received European Council approval for the Mercedes Sprinter chassis cab conversion range. The approval is for company’s N1 (up to 3.5 ton) range for Mercedes Sprinter chassis cabs.

Segmentation Market Taxonomy:

1. By Tipper Type

• Roll – Off Tipper Body
• 3 – Way Tipper Body
• Rear Tipper Body

2. By Load Carrying Capacity

• Below 15 Tons
• 15 – 30 Tons
• 30 Tons & Above

3. By Mechanism

• Pneumatic
• Hydraulic

4. By Frame Material

• Steel
• Aluminum

5. By End-use Industry

• Mining
• Construction
• Waste Management
• Marine Services
• Others

6. By Region

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East
• Africa