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Market Forecast and CAGR
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.
The heavy hauler market has also been believed to be affected in its growth with stagnation of sales and reduced quota of new unit production. However, with gradual resumption of industrial activities taking place across regional markets via subsequent quarters, the heavy hauler market growth rate is expected to witness an uptick at a decent pace spanning next 3-4 quarters of next fiscal.
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With flexible production being in demand, autonomous handling systems and robots are expected to adapt to changing requirements faster. Besides, those moving around with “domain+” skills would be on the top of the recruiters’ agenda.
Augmented reality solutions are being asked for IoT functionality is capable of tracking and evaluating production quotas, expanding control rooms, and creating various models related to predictive maintenance. Industry 4.0 workforce would, indeed, be complementing robotics. Persistence Market Research is endowed with expertise herein in the form of consultants and analysts.
What is Driving Demand for Heavy Hauler?
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.
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China Demand Potential
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.
Who are the Key Manufacturers and Suppliers Of Heavy Hauler?
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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