Material Buggy Market
Material Buggy Market Analysis By Engine (Electric, Petrol, Diesel, Gas), By Type (Tracked, Wheel), By Pay load (Below 600 kg, 600 to 800 kg, 800 to 1000 kg), By Moving Speed (Less than 10 km/hr, 10 to 12 km/hr), By Engine Power (10-15 hp, 15-20 hp), By Region - Global Insights to 2033
Analysis of Material Buggy Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Material Buggy Market Growth Outlook (2023 to 2033)
Based on the analysis by Fact.MR, the global material buggy market is estimated to be valued at US$ 285.7 million in 2023 and it is anticipated to grow at a CAGR of 6.9% during the forecast period from 2023–2033.
Material buggy is widely used as material carrier at mining and construction sites, hence, the growing mining and construction industry drives the material buggy market growth. The technology and advances reframe the requirements and traditional buggies and also ease out the overall operations.
Material Buggy Market Size (2022A)
US$ 267.8 Million
Estimated Market Value (2023E)
US$ 285.7 Million
Forecasted Market Value (2033F)
US$ 561.4 Million
Global Market Growth Rate (2023–2033)
North America Market Share (2023)
China Market Growth Rate (2023–2033)
Key Companies Profiled
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Historic and Future Pathway Analysis for the Material Buggy Market
A material buggy is a construction equipment that helps to transport materials like soil, gravel, and concrete easily. It is used to work in close or narrow areas where exhaust fumes are not permitted and there is a need to control noise levels. For instance, mining sites, night works in cities, and works in high pedestrian traffic areas.
- Short Term (2023-2026): With technological advancements and the launch of electrical buggies creates lucrative opportunities for material buggies manufacturers.
- Medium Term (2026-2029): Increasing construction activities need equipment to easily handle and transfer construction materials such as soil, gravel, bricks, and debris. Owing to this the demand for material buggies is likely to increase as they can be used easily in both indoor and outdoor settings, creating growth opportunities for the material buggies market players.
- Long Term (2029-2033): Multiple construction projects especially across emerging economies coupled with growing mining activities are likely to drive the material buggy market in a long run.
On the back of the aforementioned facts, the market is anticipated to grow at a CAGR of 6.9% during the forecast period from 2023-2033, According to the Fact.MR, a market research and competitive intelligence provider.
Market Dynamics Overview
“Growing Construction Industry to Drive Material Buggy Market Growth”
With the growing construction industry, the demand for the material buggy is expected to rise as it has applications in transferring construction material across construction sites. Material buggy is sometimes also used for mixing concrete. Owing to the rising population, urbanization, and industrialization, there has been a significant increase in the construction industry.
- For instance, the global construction volume output is anticipated to grow by 85.0% to US$ 15.5 trillion worldwide by 2030. China, the US, and India are prominent countries projecting high construction growth opportunities accounting for 57.0% of the global market.
On the back of the thriving construction industry, the demand for the material buggy to transport construction materials such as gravel, sand, and others across the site is likely to drive the material buggy market during the forecast period.
“Challenges in the Material Buggy Market Growth”
The rising raw materials prices, including rubber chain wheels, engines, steel ore, electronic parts, and batteries, and high labor costs, for instance, the average labor cost at the global level is about US$ 34.5 hourly basis. Such factors affect the production cost of material buggies.
In the current scenario, several producers concentrating on using plastic pay-loading buckets instead of iron. Each material's significance in terms of pay loading capacity is different. In addition, manufacturers are investing heavily in R&D to create advanced materials for material buggies using AI-based technology.
Manufacturers have begun to consider viable alternatives that can replace specific labor force segments as a result of the ongoing rise in labor costs in North America and Europe. This prompted the development of remotely controlled material buggies. Remote control buggies will increase productivity and give more consistent results.
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What are the Factors Driving Material Buggy Demand Across the USA?
Material buggies are widely used to move gravel, construction materials, and other materials across the construction site. It is user-friendly and available on rentals as well.
Material buggies are easy to use in compact and closed areas. Mushrooming construction sector across the USA is anticipated to drive the material buggy market.
- For instance, the annual value of the US construction industry stood at US$ 1.7 trillion in 2022 from US$ 1.6 trillion in 2021 an absolute dollar opportunity of US$ 1.7 trillion.
- Based on the total construction in the USA in 2022 private construction accounts for the major share of total construction and stood for 79.8% of the share of total construction value, whereas public construction stood for 20.2%.
Thus, growing both public and private construction activities across the country drives the material buggy market in the long run.
Why is the Indian material buggy Market Expected to Be Highly Lucrative?
The Indian mining sector is flourishing which paves the way for the material buggy market growth as material buggies are used to carry debris, gravel, and other material across the site or nearby dumping space.
- The Indian mining industry is among the core industries of the economy. It provides numerous industries with basic raw materials. India is home to about 1,533 total operating mines and produces nearly 95 minerals, which include 3 atomic, 10 metallic, 4 fuels, 23 non-metallic, and 55 minor minerals.
- Further, India is the second most prominent producer of crude steel across the globe, in 2021, India produced around 120 MT of crude steel.
New mining sites for gold and lithium were also discovered in India lately. Hence, the thriving mining sector across the country bolsters the sales of the material buggy as it is small in size and easy to be operated in small and closed areas.
Which Product Type is Driving Material Buggy Market?
Wheel-based material buggies are dominating the material buggies market for a long-time, as they are easy to handle and also require less power to move, have fast speed, and are easy to use in compact and close areas. However, with the development of power buggies the use of tracked buggies is gaining traction.
Tracked buggies are easy to carry on rough terrains and hilly areas as the weight of the tracked buggy is spread evenly. Also, ASV Holdings is offering rubber-based tracks which will cater to the needs of the tracked buggy manufacturers and users. Hence, due to such factors, the demand for tracked material buggies is estimated to increase during the forecast period, especially from the mining sector.
Why Electric Engine Material Buggy to Witness Prominent Growth?
Over the years, fossil fuel has remained the ultimate source of energy for various industries. However, with the technological advances, power of research and development, and rise in crude oil prices, battery-powered or electrical energy sources have been developed to power machinery or vehicles. On the back of this, the launch of battery-powered buggies is gaining traction.
Electrical material buggies are cost-effective, have no pain points due to fluctuating fuel prices, and effective in low to no noise areas. Due to such factors, the electrical material buggies are anticipated to project high growth opportunities during the forecast period.
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Market Player’s Key Stratagems
Manufacturers such as Toro, Hinova, and others, are relying on advancing technologies and research and development to develop wholly automated and lightweight material buggies for easy handling at mining sites. Further, rental services and the adoption of the digital platform to display digital shelves coupled with low pricing are prominent strategies adopted by market players to remain competitive in the market.
Fact.MR has provided detailed information about the price points of key manufacturers of material buggy positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Material Buggy Industry Research
By Engine :
By Type :
By Payload :
- Below 600 kg
- 600 to 800 kg
- 800 to 1000 kg
- 1000 to 1200 kg
- More than 1200 kg
By Moving Speed :
- Less than 10 km/hr
- 10 to 12 km/hr
- 12 to 14 km/hr
- 14 to 16 km/hr
By Engine Power :
- Less than 10 hp
- 10 to 15 hp
- 15 to 20 hp
- 20 to 25 hp
By Sales Channel :
- Direct Sales
- Distributor Sales
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- FAQs -
The material buggy market is estimated to reach a valuation of US$ 561.4 million by the end of 2033.
Europe dominated the market in 2022, with a market share of 34.1%, and is estimated to grow at a rate of 6.6% during the forecast period.
The top-performing regions include Europe, MEA, and North America, they collectively account for a market share of 78.8% in the year 2022.
The growth rate of the material buggy market from 2018 to 2022 was 4.4% and was valued at US$ 267.8 million in 2022, a US$ 49.0 million growth from the value in 2018 i.e., US$ 218.8 million.
The electrical engine is estimated to project a prominent growth rate of 9.5% during the forecast period from 2023 to 2033.