The global articulated hauler market was valued at USD 6.0 billion in 2022 and is projected to exceed USD 10.9 billion by 2032, expanding at a CAGR of 6% during the forecast period (2022–2032).
The increasing demand for construction machinery has significantly boosted the adoption of various types of trucks and cranes worldwide. According to a recent industry analysis by Fact.MR, a leading market research and competitive intelligence provider, the global construction machinery market is anticipated to reach approximately USD 208 billion in 2022 and is expected to grow at a CAGR of 4.3% through 2032.
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Region-wise Insights
The Asia Pacific region is categorized into two sub-regions: East Asia and South Asia & Oceania. Among these, the East Asia articulated hauler market emerges as the most lucrative, accounting for over one-fourth of the global market share.
China dominates the East Asian articulated hauler market, holding more than three-fourths of the regional share, followed by Japan and South Korea. The East Asia market is projected to grow at a CAGR of 6.1%, creating an absolute dollar opportunity exceeding USD 1.2 billion by 2032.
Moreover, with several articulated hauler manufacturers based in East Asia, demand in Japan and South Korea is expected to expand at a CAGR of 5% during the forecast period (2022–2032). Additionally, increasing investments in the articulated hauler market are anticipated to drive further growth in the coming years.
Category-wise Insights
The global articulated hauler market is segmented by payload capacity into three categories: less than 30 million tons, 30–40 million tons, and more than 40 million tons. Among these, the 30–40 million-ton segment leads the market, accounting for nearly 60% of the total share. This segment is projected to grow at a CAGR of 6.5% between 2022 and 2032.
Articulated haulers are widely used across various industries, including mining, construction, forestry, and agriculture. The mining sector holds the second-largest market share globally. The industry's current financial landscape presents both challenges and opportunities, particularly in addressing funding constraints. Since January 2020, prices of key commodities such as thermal coal, zinc, steel, aluminum, copper, lead, iron ore, nickel, and metallurgical coal have experienced significant declines, impacting market dynamics.
Competitive Landscape:
The global articulated hauler market is highly fragmented, with numerous regional and domestic players competing for market share. Companies are leveraging strategies such as mergers and acquisitions, expansions, collaborations, and partnerships to strengthen their global presence and expand their customer base.
Leading manufacturers are also focusing on new product development to enhance their market positioning. These efforts have led to the integration of advanced technologies into articulated haulers, improving efficiency and performance.
Fact.MR’s latest report provides in-depth insights into the pricing strategies of top manufacturers, regional sales growth, production capacities, and potential technological advancements shaping the market.
For instance:
- On July 7, 2021, Terex acquired Ireland-based multinational company MDS International. This acquisition is expected to enhance Terex’s operational capabilities and broaden its customer reach.
- On October 29, 2021, Rokbak introduced the RA30 and RA40 articulated haulers in the UK market. This launch marks the company’s entry into the region, positioning it to attract new customers and compete with industry leaders.
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
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