Articulated Hauler Market Expectation Based on Key Supporting Growth Factors between 2018 and 2028
Verfasser: ashwani_kailiya on Thursday, 20 February 2020Also known as articulated dump trucks, articulated haulers are large, heavy duty variants of dump trucks, which are primarily used to transport larger loads in rough terrain. Most of these vehicles are equipped with all wheel drives. While the vehicle was first developed to transport soil and other aggregates, in recent times these vehicles are also finding application in the fields of highway maintenance, agriculture, construction, and mining. The global articulated hauler market is largely controlled by a few companies, which hold control over most of the demand from haulers including end use industries, which has resulted in a consolidated business atmosphere.
Major players such as Hitachi construction, Caterpillar, Deere & Company, Komatsu, CNH Industrial N.V., and Volvo are increasing their investments into research and development activities, regional expansion, and the launch of new products, to maintain their greater market share. In addition, the European construction industry, which has been witnessing growth in recent years, has now plateaued, and will gradually decline in the near future. Consequently, vehicle manufacturers are reducing the production of equipment such as excavators, cranes and more.