Menu ×

AUTOMOTIVE & TRANSPORTATION

India Tipper Truck Market Segmentation By Vehicle Type (Rigid and Articulated); By Truck Type (Semi Trailer End Dump Truck, Standard Dump Truck, Side Tipper Dump Truck, Bottom Dump Truck and Others); By End User (Mining, Construction and Others) and By Tonnage Capacity (Light Tipper Trucks, Medium Tipper Trucks and Large Tipper Trucks) - Industry Demand Analysis and Opportunity Assessment 2018-2024

  • Text Size:

Extensive insights into the Growth of India Tipper Truck Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More
IN THE NEWS
  • December 2017: Tata Motors announced that it has launched the new and innovative Heavy-Duty Tipper range with ULTIMAAX™ suspension at EXCON.

  • January 2020: Ashok Leyland announced that the company picked up in demand for tippers and intermediate commercial vehicles. The company spent USD 71.02 million in BS-VI research, including innovative platforms and its novel technology known as iGen6, which will be an arrangement of its iEGR (intelligent exhaust gas recirculation) technology.

Market Overview

The India tipper truck market is thriving on the back if increasing opportunities generated by the rising coal mining in the country and the economy bounce back after the downfall due to Covid-19 pandemic, coupled with the growing trends in the change in GST implementation and the growing transition in the BS (Bharat Stage) standards. The government of India is planning to increase its coal mining in the country, which will create direct demand for tipper trucks in the coming year. In 2018, around 15-20% of tipper trucks were used in coal mining only, making it one of the most important customer segments for the market. This increased domestic output of coal will reduce the dependency on imports. Moreover, as coal mining is increasing, the demand for tipper trucks will increase as it is responsible for transporting the coal to nearby destinations from mines. Coal India is planning to transport coal by road as a matter of fact that various mines are located in the remote areas of the states and cannot be connected via railways. The India tipper truck market was valued at USD 3766.0 million in the year 2018 and is expected to garner USD 6049.0 million by the end of 2024 by registering a CAGR of 4.89% across the globe over the forecast period, i.e. 2019-2024. Additionally, the market is anticipated to grow by 1.26x and further gain an incremental $ opportunity of USD 1284 million during the forecast period.

Market Segmentation Synopsis

By Truck Type

The India tipper truck market has been segmented on the basis of truck type into semi-trailer end dump truck, standard dump truck, side tipper dump truck, bottom dump truck and others. The standard dump truck segment registered the largest market share of 56.01% in the year 2018 and is expected to grow with the highest CAGR of 5.23% during the forecast period. Moreover, the segment, which held a market value of USD 2109.2 million in the year 2018 is anticipated to grow by 1.29x during the forecast period and further gain an absolute $ opportunity of USD 777.0 million during the forecast period. Standard dump trucks hold the largest share of the market owing to the fact that it operates on hydraulic systems. These types of dump trucks employ fluid pressure to generate power which helps in the lifting process. On account of its power capacity, standard tipper trucks can vary in payloads from the standard 10-15 tonne to 35 to 40 tonne which makes it more maneuverable than the higher capacity semi-trailer dump trucks. The hydraulic system of the dump truck helps the bed to raise by a vertical hydraulic ram which is mounted under the front body or horizontal ram and lever arrangement between the frame rails. Further, the back of the bed is hinged at the back of the truck. CLICK TO DOWNLOAD SAMPLE REPORT

/India-Tipper-Truck-Market

Market Drivers and Challenges

Growth Indicators

Increasing Industrial Activity in Construction Sector

The increasing number of infrastructure and major construction projects which are in ongoing developmental phase have resulted in increased demand for tipper trucks. Road construction projects such as Golden Quadrilateral and Pradhan Mantri Grameen Sadak Yojana along with irrigation and quarry are fueling the growth of tipper truck market. Additionally, increasing need for transporting high volumes of aggregates, along with the significant demand for multi-axle trucks, backed by the rise in hauling and tipping more output per day are some of the major factors driving the growth of the India tipper truck market. The market is also driven by the rising government expenditure on urban infrastructure projects along with the emergence of fuel-efficient tipper trucks to prevent growing pollution level.

Expanding Mining Sector

Mining activity demands off-site and far-away operations which requires heavy commercial vehicles such as tipper trucks to handle the material transportation needs. Rising mining projects especially for coal production, generates a huge demand for medium or heavy tipper trucks in India. Tipper trucks are technologically most advanced and the safest trucks to operate in high demanding and tough mining conditions. Additionally, the demand for power and cement industries has resulted in the growth of mining sector. According to the Ministry of Mines, India is considered as 7th largest country with bauxite reserves which accounts for approximately 2,908.85 million tonne in the year 2018. Additionally, in the year 2019, FDI inflows in the mining, diamond, gold ornaments and coal production sectors stood at US$ 2,652.60 million, US$ 1,165.01 and US$ 27.73 million, respectively.

Barriers

Revised Axle-Load Norms

The law for new axle load norms was applied from July 2018 according to which the allowed GVW (Gross Vehicle Weight) limit for all the trucks in India was increased. These changes in loading capacity norms lead to the decrease in tipper truck demand in the market as the caring capacity of the already in place trucks was increased. The government motive behind this change in regulation was to reduce congestion and regulate carbon footprint in the country. Such a factor is anticipated to act as a barrier to the growth of the India tipper truck market.

Competitive Landscape

Some of the affluent industry leaders in the India tipper truck market are Tata Motors Limited, Ashok Leyland, AB Volvo, Daimler AG (BharatBenz), Eicher Motors Limited, Mahindra & Mahindra Ltd., Scania, SML Isuzu Limited, MAN SE and Asia Motor Works Limited.

 

FREQUENTLY ASKED QUESTIONS

ndia Tipper Truck Market

Part 1 Market Definition and Research Methodology

• Market Definition

• Research Objective

• Research Methodology

Part 2 Executive Summary

Part 3 Market Dynamics

• Drivers

• Restrains

• Opportunities

• Trends

Part 4 Industry Analysis

• Regulatory Landscape

• Construction Sector in India

• Mining Sector in India

• Truck Rental Service Market in India

Part 5 India Tipper Truck Market

• Market Overview – Market Size (2018–2024)

• Market segmentation by:

o Vehicle Type

o Truck Type

o End-user

o Sales Channel

o Tonnage Capacity

o Region

Part 6 North India Tipper Truck Market

• Market Overview – Market Size (2018–2024)

• Market segmentation by:

o Component

o Application

o End-user

o States

o Major City Analysis

Part 7 East India Tipper Truck Market

• Market Overview – Market Size (2018–2024)

• Market segmentation by:

o Component

o Application

o End-user

o States

o Major City Analysis

Part 8 West India Tipper Truck Market

• Market Overview – Market Size (2018–2024)

• Market segmentation by:

o Component

o Application

o End-user

o States

o Major City Analysis

Part 9 South India Tipper Truck Market

• Market Overview – Market Size (2018–2024)

• Market segmentation by:

o Component

o Application

o End-user

o States

o Major City Analysis

Part 10 Competitive Landscape

• Company Profiles of Key Players

Part 11 Primary Interview Analysis


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2020 Research Nester. All Rights Reserved