Heavy Hauler Market: Introduction
According to recent research estimates, Heavy Hauler market is expected to experience substantial growth, with prediction around 3% to 3.5% CAGR from 2021 to 2031. The market growth is expected to be driven by bulk material handling and transportation of heavy equipment. Due to the outbreak of COVID-19 pandemic in 2020, the industrial sector comprising of mining and, manufacturing plummeted in terms of annual growth coupled with disruption of output production rate and supply based activities.
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Heavy Hauler Market: Dynamics
Hauler trucks are used to transport heavyweight components, manufacturing equipment, and construction machinery. The bulk material handling activities involved in mining, construction, rail and sea based freight centers has incorporated the use of heavy hauler trucks to a healthy extent. Because of new power plant installations and the modern construction industry, freight transportation requires large equipment to move components such as boilers, flyovers, and walls.
The CAPEX investments in end use sector is perceived to have a proportionate effect in terms of sales growth rate of the vehicle. Also industrial facilities in terms of transport of heavy machinery and off-road vehicles is expected to drive the market growth.
Use of hybrid fuel based operating prototypes is expected to be the major trend in shaping up the demand of the device in upcoming years. Owing to labour costs savings, reduced emissions and effectively lead time. The ongoing construction projects related to civic, energy and industrial infrastructure is expected to fuel the demand of heavy haulers in the upcoming years.
Heavy Hauler Market: Segmentation
Carriage of large assembly components for power generations such as turbines, blades, propeller units has been undertaken by heavy haulers in recent times for the reason that the vehicle has heavy load carrying capacity of over 100 Tons. In addition to bulk materials and commodities, the heavy logistics sector will provide growth opportunities for the market.
The supply chain system loopholes and challenges will create opportunities for Hauler manufactures and diversify their product according to the need of work. Mainly, countries are focusing more on convenient and suitable technologies to enhance productivity by carrying more loads.
The market is primarily characterized by rental based device usage wherein appropriate subscription rates and servicing options are also provided by rental service operators.
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Heavy Hauler Market: Regional Outlook
China is expected to be a leading regional market in terms of heavy hauler usage across construction, energy and industrial domains with the ongoing infrastructure projects in the nation and also assistance in overseas contractual infrastructure set up and maintenance projects in Asia and Central America.
Latin America is also identified as an emerging and high growth market for the device in upcoming years. This is owing to ongoing projects in mining and energy infrastructure projects in nations of Chile and Peru where transportation of bulk commodities and structural heavy components will be highly sought. Also, Brazil serving as a regional naval based bulk trade hub will imbibe a sound rate of heavy haulers in the forecast period.
Heavy Hauler Market: Key Players
Key examples of manufacturers involved in Heavy Hauler manufacturing are
- Daimler AG
- Volvo Group
- Bell Trucks America Inc.
- Komatsu Ltd.
- Deere & Company
- Caterpillar Inc.
- Hitachi Construction Machinery Co. Ltd.
- Liebherr Group
- Doosan Corporation
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