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Tipper Body Market Analysis | CMI

Read here the latest updates on the Tipper Body Market Analysis published by CMI team

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Tipper Body Market Analysis | CMI

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. TIPPER BODY MARKET ANALYSIS • Tipper Body Market, by Tipper Type (Roll – Off Tipper Body, 3 – Way Tipper Body and Rear Tipper Body), by Load Carrying Capacity (Below 15 Tons, 15 – 30 Tons and 30 Tons & Above), by Mechanism (Hydraulic and Pneumatic), by Frame Material (Steel and Aluminum) by Load Carrying Capacity (Mining, Construction, Waste Management, Marine Services, and Others) and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027 • The Global Tipper Body Market is estimated to account for US$ 3,727.1 Mn in terms of value and 72.3 thousand units in terms of volume by the end of 2019

  3. Market Drivers • Rampant growth of construction industry coupled with rapid urbanization is expected to drive growth of the global Tipper Body Market during the forecast period Tipper body are installed on a dumpster truck or tipper where they find extensive applications in the construction industry. These trucks are employed to perform tasks such as loading, lifting, and transportation of goods. Rapid growth of construction industry in the recent past coupled with rampant urbanization is expected to propel the global tipper body market over the forecast period. For instance, the global construction industry was valued at US$ 8.0 trillion in 2012, and is expected to reach US$ 15 trillion by 2025. Furthermore, rapid urbanization in the recent past is expected to boost the demand for tipper body and construction trucks.

  4. Development of novel technology and automation is expected to boost the construction activities Growing technology and automation has enhanced the quality of dumper trucks and tipping body equipment. This, in turn, has led to increasing demand for such advanced equipment to perform heavy-duty work at construction sites. Key players in the market are focused on developing strong and robust equipment with lasting chassis, in order to survive daunting working conditions and extreme loads. Moreover, advancement in material science technology has led to utilization of various alloys of aluminum and steel, which has made tipper body sturdier than ever. Thus, advancement in technology and automation are expected to fuel the market growth in the near future.

  5. Statistics: Asia pacific region dominated the global tipper body market in 2019, accounting for 32.2% share in terms of volume, followed by North America and Latin America, respective

  6. Market Restraints • High initial and maintenance cost associated with tipper bodies are expected to restrain growth of the global tipper body market over the forecast period Initial cost as well as maintenance cost of tipping equipment is significantly high, which as influenced outright purchase of these equipment. Industry experts and leading rental companies recommend that it is more economical to rent a dumping vehicle if the use of an equipment is not two-thirds of its average life. Moreover, the maintenance cost for these dumpster and tipper vehicles is extremely high whereas maintenance must be done at regular intervals. This, in turn, is expected hinder the demand for tipper body and thereby restrain the market growth in the near future.

  7. Lack of skilled personnel for accurate dumping and tipping operations and absence of proper manufacturing standards to avoid road accidents are expected to hamper the global tipper body market growth in the near future Lack of trained professionals can directly affect the safety at worksite leading to accidents and injuries. Some specific machines require high trained professionals, in order to execute the work properly. Moreover, dumpster truck is built such as that they can withstand off-road or construction site conditions. However, the main disadvantage it has that in a collision with standard passenger car, the entire section goes under the truck where passenger and the car could get severely injured. Thus, these factors are expected restrain the market growth in the near future.

  8. Market Opportunities • High growth of construction, waste management, and mining industries is expected to pose significant growth opportunities for market players in the near future Tipper trucks are extensively used in various industries including waste management, construction, mining, etc. They more productive and efficient as compared to other transportation vehicles, hence, are preferred more for various pick and drop operations. Furthermore, the global mining industry is expected witness significant growth in the near future, owing to increasing need for natural minerals and resources. Waste management, too, is a major industry, which is expected exhibit significant CAGR over the forecast period, owing to growing awareness regarding healthcare. According to United Nations Environment Programme Organization (UNEP), around 2 billion ton of municipal solid waste and 7-10 billion ton of urban waste is generated every year.

  9. Product innovation in the global tipper body market is expected to offer lucrative growth opportunities for market players Buyers in developed regions such as Europe and North America are looking for advanced equipment with efficient performance and automation. Constant R&D activities in this market has improved the consumer response and has created significant growth opportunities in the market.

  10. Market Trends • Constant research and development activities to innovate novel products is a major trend in the market Key players in the market are involved in research and development activities, in order to innovate novel products. Introduction of advanced technologies has led to increase in demand for tipper body and vehicles and thereby driving the market growth. For instance, Komatsu’s latest design, the new 27-foot-wide and 49-foot-long giant, powered with 2700 HP engine is Innovative Autonomous Haulage Vehicle (IAHV). • Development of cost-competitive products to enhance the market penetration is another key trend in the market Key players in the market are focused on developing cost-competitive products, in order to increase their penetration in emerging economies such as India, South Africa, and China. Development of efficient tipper with enhance load capacity is expected to drive the market growth in the near future.

  11. Segment Information: • Global tipper body market, by mechanism type segment, hydraulic sub-segment was valued at US$3235.2 Mn in 2019 and is expected to grow at a CAGR of 4.3 % between 2019 and 2027

  12. Competitive Section • Key players operating in the global tipper body market are Schmitz Cargobull AG, Crysteel Manufacturing Inc., Thompsons (UK) Ltd., Ingimex Ltd., VFS (Southampton) Ltd, and Cantoni & C S.p.A.

  13. Key Developments • In June 2019, Schmitz Cargobull announced that they have entered into partnership with PEMA GmbH which is a vehicle leasing company in Europe to build Schmitz Cargobull entire product spectrum, ranging from state-of-the-art refrigerated semi-trailers to universal curtainsiders and tipper trailers for agricultural harvesting. • In July 2017, Scania CV India Pvt. Ltd which is into manufacturing of commercial vehicles and engine announced that they have launched a new P 440 8X4 20.2 Cu.m U-BODY tipper. This new design of tipper will help to increase the productivity of mining tippers and improve the total operating economy.

  14. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Reference : https://www.coherentmarketinsights.com/market-insight/tipper-body-market-3141

  15. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  16. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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