Global Haulage Equipment Market Size, Trends & Analysis – Forecasts To 2026 By Type (Crane, Bulldozers, Loaders, Shovels, Tractors, Trucks, others), By Workflow (Mine Development, Mining Process, Mine Maintenance), By Capacity (High Capacity, Medium Capacity, Low Capacity), By Mine Type (Surface Mines, Underground Mines), By Region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa); Vendor Landscape, and Company Market Share & Competitor Analysis.
Global Haulage Equipment Market Insights
The global haulage equipment market is estimated to grow at a significant CAGR during the forecast period. Significant rise in the production of trucks across the globe is one of the major factors expected to propel the market of haulage equipment over the forecast period. Haulage is the business of transporting commodities. It includes the horizontal transport of coal, ore, waste, and supplies also known as drayage or cartage. Increased demand for haulage equipment for various applications in mining industry is among the major factors expected to propel the growth of haulage equipment market across the globe. Transportation of coal by truck is usually limited to short distance haulage, but is rapidly growing method of transport.
Haulage Equipment Market: By Type
The global haulage equipment market is segmented on the basis of type into crane, bulldozers, loaders, shovels, tractors, and trucks among others. In year 2018, the market for truck segment is estimated to dominate the haulage equipment market. Increased demand for the trucks by wide range of end use industry verticals including mining, logistics, and pharmaceutical industries among others is one of the major factors expected to propel the market of trucks during the forecast period. Trucks as a haulage equipment finds its usage to transport commodities within the domestic boundaries and even to the neighboring countries. Fast growing logistics industries along with favorable government initiatives such as roadways construction, and maintenance are some of the other factors expected to positively influence the growth of the market during the forecast period.
Haulage Equipment Market: By Workflow
The haulage equipment market is segmented on the basis of workflow into mine development, mining process, and mine maintenance. Mine development is further segmented into tunnel boring, construction of access roads, and site preparation and clearing. Mine maintenance is further segmented into HVAC, and mine dewatering. On the basis of workflow, mine development is segment is expected to dominate the market of haulage equipment in 2018, and is also expected to grow at highest CAGR during the forecast period. Increasing mining activities, along with the increased demand for construction of access roads are some of the major factors expected to propel the growth of market. Mining activities often takes place in remote areas with little or no access to roads, thereby leading to the preparation of site.
Haulage Equipment Market: By Capacity
The market for haulage equipment is segmented on the basis of capacity into high, medium, and low capacity. High capacity haulage equipment is expected to dominate the market of haulage equipment. Increased demand for high capacity haulage equipment can be attributed to increasing wastes and pollutants near the mining sites. Fast growing mining activity coupled with increased production and exploration activities are some of the other factors expected to propel the market growth. Increased preference for high capacity haulage equipment to reduce the transportation costs and time is one of the major factors expected to propel the growth of market growth.
Haulage Equipment Market: By Mine Type
The market for haulage equipment is segmented on the basis of mine type into surface mines and underground mines. Increasing mining activities both underground and surface mining is one of the major factors expected to propel the growth of global haulage equipment market. In underground mining, haulage equipment finds its usage in mine dewatering, and HVAC among other applications. Whereas, in surface mining, haulage equipment finds its usage in construction of access sites, site preparation & clearing, and tunneling activities among others. Surface mining is a mining form of mining operation, often practiced across the world for extracting minerals that occur near the surface, including metallic minerals such as iron, gold, copper, and bauxite among others.
On the basis of region the market for Haulage Equipment is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. North American market for Haulage Equipment is expected to generate highest market share in terms of both value and volume. The U.S. is anticipated to dominate the Haulage Equipment market in the North American region. Increased mining activities across the region are among the major factors expected to propel the growth of haulage equipment market. Presence of major haulage equipment manufacturers in the region is expected to spur the market growth. Canada is the global leader in mining operations in the world, with active production of more than 60 metals and minerals. Presence of vast resource of precious minerals and metals coupled with flexible legal requirements along with presence of cheap and skilled labor are some of the factors expected to drive the growth of market in the region.
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to Haulage Equipment in the coming years. Some companies currently using Haulage Equipment and are likely to purchase it in future are Rio Tinto, BHP, and Glencore among others.
Haulage Equipment: Market Share & Competitor Analysis
Some of the key players operating in the Haulage Equipment market are Metso Corporation, Komatsu Ltd., Caterpillar, AB Volvo, Autonomous Solutions Inc., Scania, Hitachi, Ltd., Liebherr, Sany, Zoomlion, and Terex among others.
In February 2019, Volvo Trucks announced the launch of upgraded D13 diesel engines for Euro 3, Euro 4, Euro 5 and EEV markets. The new function of Volvo Torque Assist is intended to reduce fuel consumption by offering more efficient driving even when cruise control is not activated
In July 2018, Caterpillar announced that it will independently begin designing and manufacturing of its vocational truck product family at its plant in Victoria, Texas
The global Haulage Equipment Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Haulage Equipment Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies.
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