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Articulated Hauler Market

Articulated Hauler Market

Articulated Hauler Market Analysis 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, by Region - Global Forecast 2022-2032

Articulated Hauler Market
FACT2234MR

Global Articulated Hauler Market Outlook

The global articulated hauler market is estimated at USD 6.0 Billion in 2022 and is forecast to surpass USD 10.9 Billion by 2032, growing at a CAGR of 6% during 2022-2032.

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%

Collective Value Share (China, USA, Germany) 2021: Top 3 Countries

~41%

Top 5 Companies Market Share in 2021

~27%

Key Companies Profiled

  • 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

The fast-growing requirement for construction machinery has driven the demand for various types of trucks, cranes globally. As per a recent industry analysis by Fact.MR - market research and competitive intelligence provider, the global construction machinery market is expected to reach a valuation of around USD 208 Billion by 2022 and is likely to grow at 4.3% CAGR during the forecast period of 2022-2032.

The global articulated hauler market accounts for ~3% revenue generation for the global construction machinery market. It is projected to rise with a CAGR of 6% and generate an absolute dollar opportunity of nearly USD 5.5 billion between 2022 & 2032.

Governments have increased the investments in industrialized and emerging countries for the development of infrastructure projects are anticipated to drive market growth. For instance, according to the Euro construct report, in 2019, construction output reached about USD 1,900 Billion in European countries.

According to a Fact.MR report, the construction industry constant demand for articulated haulers underlies the articulated hauler market's consistent expansion. Manufacturers in the articulated hauler market continually propose new B2C business models that supply improved service offerings to clients to efficiently satisfy demand from end-user industries and increase stabilized sales through the dealer network.

2017-2021 Global articulated hauler Market Outlook in Comparison to 2022-2032 Growth Forecast

Historically, the market value of the articulated hauler industry showed a growth of 4.2% CAGR from 2017 to 2021. The global articulated hauler market has generated an absolute dollar opportunity of around USD 1.3 billion in the last half-decade. It is estimated to generate opportunities of around USD 2.3 billion and 5.5 billion by the mid (2022-27) and long-term (2022-2032) respectively.

The demand for articulated hauler has been increased significantly owing to increased investment in construction tech, for instance, as per the research, nearly USD 8 billion were invested during 2009-13 which have been increased by 3X between 2014-18 and reached USD 25 billion. Solely in the year 2019, nearly USD 5 billion were invested.

Besides, the North American articulated hauler market holds the 3rd largest market share in the global articulated hauler market which is projected to gain 179 BPS with the growth of 3.8% CAGR. Further, the United States articulated hauler market is the largest contributor in the regional market with more than 4/5th market share in the North American region.

The East Asian articulated hauler market accounts for ~26% of the global articulated hauler market in 2022. It is estimated to have an absolute $ opportunity of USD 1.2 Billion during the forecast period of 2022-2032.

In addition, in terms of value, the Japanese articulated hauler market is the second-largest market in the global as well as the East Asian market. It is likely to grow with a 2.8% CAGR and provide remarkable absolute dollar opportunities during the forecast period.

From the segmental analysis, based on payload capacity, the 30-40 Million Tons segment is the largest market shareholder. It has grabbed nearly 2/3rd market share and is projected to grow at the CAGR of 6.5% during 2022-2032.

Further, South Asia & Oceania articulated hauler market has shown significant growth in the last few years. It has acquired nearly 1/5th market share in the global market with a growth of 5.3%. The growing investment in the construction and mining industry is expected to boost the demand for articulated haulers in the region. South Asia & Oceania is likely to grow at the CAGR of 7.8% and generate annually incremental opportunities of around USD 95 million amid 2022 & 2032.

From the segmental analysis, the demand for a different type of articulated haulers grew 1.1X in the last half-decade and it is anticipated to grow by 1.9X demand in the mining industry. The mining industry is projected to rise at the CAGR of 4% and generate an absolute dollar opportunity of nearly USD 873 million by 2032.

Fact.MR projects the articulated hauler market is expected to witness exhibiting growth at 6% CAGR during 2022-2032 in comparison to a CAGR of 4.2% with which it grew from 2017 to 2021.

Equipment Rental Remains a Key for Articulated Hauler Manufacturers to Leverage Temporary Equipment Solutions Requirements

Increased building construction in metropolitan areas, combined with rising rental demand, will drive demand for articulated haulers in the global market. With the economic recovery in markets, buildings and heavy loads are expanding on crowded city sites, requiring the use of articulated haulers. Further,

Further, the construction equipment rental market is gaining traction as a result of increasing economic uncertainty, growing equipment costs, and technological advancement, a shortage of cash, and unpredictable building and infrastructure growth. Rising infrastructure development projects all around the world will fuel the construction equipment rental industry.

Manufacturers are also seeing an increase in the number of articulated hauler models. Growing efforts to develop dams, highways, railways, and roads are expected to fuel demand for articulated haulers during the forecast period.

Automobile Industry Likely to Boost the Sales of Articulated Haulers

The application of articulated haulers in the automobile sector has been increased significantly in the last few years. Owing to the use of articulated haulers, fast response time, improved engine performance, superior engine control, high resistance, stumpy air flow constraint among others and durability may transform the global articulated hauler market during 2022 & 2032.

Ongoing projects include: CRL – Cross rail Development – U.K.; HS2 – High Speed 2 Rail Link – U.K.; LTF – Lyon-Turin High Speed Rail – France; Cargiant/LRP/QPR/GLA – Old Oak Common Regeneration –concrete building in Montreal (Canada) is undergoing a USD 100 Million refurbishment for new occupant.

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Growth of the Industrial and Utility Sector Driving Demand for Articulated Haulers

The growth of the industrial and utility sector is expected to create opportunities for articulated haulers. The continuing rise in the utility and industrial sector, particularly in emerging economies such as Brazil, India, China and others is driving the demand for construction equipment.

Moreover, initiatives taken by infrastructure planning commissions and policymakers are further supporting the growth of the industry in such countries. Rural and urban infrastructure projects associated with oil & refineries, mining & roads, dams, highways, railways & metros and power infrastructure development are expected to create value propositions for the articulated hauler Market in the coming years.

Robust Urbanization to Support the Growth of the Market

Urbanization across the globe is expanding at a positive rate, especially in emerging economies such as India, China, Argentina, Mexico and Brazil, which, in turn, is contributing to the growth of the construction industry. The construction activities in both commercial and residential areas are rising owing to increasing population and growing demands for roads & transport infrastructure, which is expected to drive the demand for articulated hauler worldwide.

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Region-wise Insights

Which Region Accounts for More Enhanced Demand for articulated hauler Market?

Asia Pacific region has been segregated into two regions includes East Asia and South Asia & Oceania. East Asia articulated hauler market is the one furthermost profitable market. It has acquired more than 1/4th market share of the global market.

In addition, the East Asian market is largely dominated by the Chinese articulated hauler market which has acquired more than 3/4th market share followed by Japan and South Korea. East Asia is projected to grow at a CAGR of 6.1% and generate an absolute dollar opportunity of more than USD 1.2 billion by the end of 2032.

Further, as many articulated hauler companies are based in East Asia Region, the demand for articulated haulers in Japan and South Korea is projected to grow at a CAGR of 5% over the assessment years of 2022-2032. Additionally, investments in the articulated hauler market it is expected to trigger market growth in the coming years.

What is the European articulated hauler Market Scenario?

The European articulated hauler market consists of numerous regional markets such as Germany, Italy, France, Spain etc. Europe holds nearly 17.3% of the overall market share and is projected to rise at a CAGR of 3.8% in the coming years. This is attributed to the escalating demand for up to 400 HP, engine power, in countries like the United Kingdom and Germany.

The European region is bound to create growth advances for articulated hauler manufacturers owing to the investment in different end-use industries such as Automotive, etc. This is powering the growth in the articulated hauler market in the European region in the coming years.

articulated hauler market by Fact.MR

Category-wise Insights

Which Payload Capacity of Articulated Haulers is expected to be the Largest Contributor during the Forecast Period in Articulated Hauler Market?

Based on payload capacity, the global articulated hauler market has been segregated into three categories including less than 30 Million tons, 30-40 Million Tons, more than 40 Million Tons. Payload capacity 30-40 Million tons is the leading segment that has acquired nearly 60% market share in the overall market. It is projected to increase at a CAGR of 6.5% between 2022 & 2032.

Which End-Use Industry is poised to Show lucrative Growth in Articulated Hauler Market?

Articulated Haulers have been used in Mining, Construction, Forest & Agriculture industries. Mining is the second-largest market shareholder in the global market. The mining industry’s current situation creates a need and an opportunity to address the financing challenges of the industry. Prices have abruptly declined since January 2020 in many commodities, including thermal zinc, coal, steel, aluminum, copper, lead, iron ore, nickel, and metallurgical coal.

However, increasing demand for raw materials such as zinc, steel etc. may boost the global mining industry. In turn, this is projected to drive demand for articulated haulers to use in mining to transport the ore and other materials.

Competitive Landscape: Top Companies in Articulated Hauler Market

The global articulated hauler market is fragmented due to the presence of several regional and domestic players. The players have adopted numerous such as mergers and acquisitions, expansions, collaborations and partnerships to expand the consumer base globally.

Also, the leading companies have adopted new product development as a key strategy to upscale their market presence among consumers. These strategies have resulted in the integration of advanced articulated hauler.

Fact.MR has provided detailed information about price points of top manufacturers of articulated hauler market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  • On 7th July 2021, Terex has acquired an Ireland based a multinational company MDS International. Through this acquisition, company will be able to expand its operations as well as consumer base.
  • On 29th October 2021, Rokbak has launched the new RA30 and RA40 articulated haulers in the UK market. Through this launch company has taken entry in the region to acquire consumers and compete with leading companies.

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

- FAQs -

The global value of Articulated Hauler market is estimated to be worth over USD 6 Billion in 2022.
The demand is anticipated to surpass USD 10.9 Billion by 2032 end.
During 2017-2021, global Articulated Hauler market grew at 4.2% CAGR.
Some of the prominent players in Articulated Hauler market are Terex Trucks, Volvo, Caterpillar, Komatsu, John Deere etc.
East Asia tops the global Articulated Hauler market accounting for 25.7% of global market share in 2022.
Up to 400 HP under engine power contributes 49.3% of market share in global sales of Articulated Hauler.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

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