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The global market for articulated haulers is anticipated to be worth USD 6.0 billion in 2022 and will likely surpass USD 10.9 billion by 2032, expanding at a CAGR of 6% over the assessment period of 2022-2032.
The use of articulated haulers in the automotive industry has grown significantly over the past few years. Between 2022 and 2032, the global articulated hauler market may undergo a revolution due to factors such as quick response times, improved engine performance, improved engine management, high resistance, stumpy air flow constraints, and durability.
Among the ongoing projects are CRL (Cross Rail Development) in the United Kingdom, HS2 (High Speed 2 Rail Link) in the United Kingdom, LTF (Lyon-Turin High Speed Rail) in France, and Cargiant/LRP/QPR/GLA (Old Oak Common Regeneration) in Montreal (Canada), which is renovating an old concrete structure for new tenants for $100 million.
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Increased urban building construction and rising rental demand will drive up demand for articulated haulers on the global market. As markets recover, big loads and buildings are growing on congested city sites, necessitating the use of articulated haulers.
Opportunities for articulated haulers will likely arise from the expansion of the industrial and utility sectors. The continued expansion of the industrial and utility sectors, particularly in developing economies like Brazil, India, China, and others, is what is driving demand for construction equipment.
Additionally, officials who oversee infrastructure planning and public policy are taking action to promote the industry's growth in these nations.
In 2022, the market for articulated haulers in East Asia will make up nearly 26% of the global market. During the forecast period of 2022–2032, it is predicted to have an absolute dollar opportunity of USD 1.2 billion.
The Japanese and East Asian markets for articulated haulers are the second-largest markets worldwide in terms of value. During the forecast period, it is anticipated to expand with a CAGR of 2.8% and present exceptional absolute dollar opportunities.
|
Report Attributes |
Details |
|
Base Year Value (2021A) |
USD 5.7 Billion |
|
Estimated Year Value (2022E) |
USD 6.0 Billion |
|
Projected Year Value (2032F) |
USD 10.9 Billion |
|
Global Growth Rate (2022-2032) |
CAGR 6% |
|
East Asia Market Share in 2021 |
~25% |
|
East Asia Growth Rate (2022-2032) |
CAGR 6.1% |
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Key Learnings:
· The global articulated hauler market, which is expected to grow by 3.8% CAGR and add 179 BPS, places the North American articulated hauler market in third place.
· By the end of the forecast period in 2032, East Asia is anticipated to grow at a CAGR of 6.1% and create an absolute dollar value opportunity of more than USD 1.2 billion.
· Over the assessment years of 2022–2032, the demand for articulated haulers is expected to increase in Japan and South Korea at a CAGR of 5%.
· Compared to the 4.2% CAGR it experienced from 2017 to 2021, the articulated hauler market is predicted to grow at a 6% CAGR from 2022 to 2032.
Growth Drivers:
· Governments in developed and developing nations have increased their investments in infrastructure projects, which is anticipated to fuel the growth of the articulated hauler market.
· The demand for articulated haulers is expected to increase due to growth in the construction and auto industries.
Competitive Environment
Due to the presence of numerous regional and domestic players, the global market for articulated haulers is fragmented. Additionally, the top businesses have made new product development a key component of their marketing plans to increase consumer awareness of them. These tactics have led to the incorporation of sophisticated articulated haulers.
· On July 7, 2021, Terex acquired MDS International, a global conglomerate with headquarters in Ireland. The company will be able to grow both its operations and customer base thanks to this acquisition.
· The new Rokbak RA30 and RA40 articulated haulers were introduced to the UK market on October 29, 2021.
Key Companies Profiled by Fact.MR:
Terex Trucks, Volvo, Caterpillar, Komatsu, John Deere, Hitachi Australia, Liebherr Group, Doosan, Bell Trucks America Inc., Hydrema, CNH Industrial N.V., XCMG, Other Key Players
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Global Articulated Hauler Market Categorized
- By Payload Capacity :
- Less than 30 Million Tons
- 30-40 Million Tons
- More than 40 Million Tons
- By Engine Power :
- Up to 400 HP
- 400-500 HP
- More than 500 HP
- By End Use Industry :
- Mining
- Construction
- Forest & Agriculture
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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