India Tipper Truck Market

India Tipper Truck Market Analysis 2018-2024

Tipper trucks are referred to the trucks that are used for taking dumps and are equipped with an open-box bed at the rear. The box bed is equipped with hydraulic rams which is used to lift the front of the open-box bed, which further allows the material inside the bed to be deposited on the ground. They are mostly used in the construction industry or mining industry for carrying of gravel, sand or demolition waste or carrying coal. The India tipper truck market is anticipated to achieve a CAGR of 4.89% across the globe over the forecast period, i.e. 2019-2024. Factors such as increasing opportunities generated by the rising coal mining in the country, the rising trends in the change in GST implementation, growing transition in the BS (Bharat Stage) standards, along with the economy bounce back after the downfall due to Covid-19 pandemic are anticipated to promote towards the growth of the India tipper truck market. Additionally, factors such as the significant increase in the number of infrastructures, along with several number of major construction projects, which are in the ongoing developmental phase are anticipated to drive the growth of the India tipper truck market.

The India tipper truck market consists of various segments that are segmented by vehicle type, truck type, end user and tonnage capacity. The end user segment is further sub-divided into mining, construction and others. Out of these, the construction segment held the largest market share of around 61% in the year 2018, and is expected to achieve a CAGR of around 5% throughout the forecast period. Further, the segment is also anticipated to reach a value of around USD 3700 million by the end of 2024. On the other hand, the segment is also anticipated to gain an absolute $ opportunity of around USD 818 million during the forecast period.

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.