Lucintel’s latest market report analyzed that mining truck provides attractive opportunities in the coal mining, iron mining, copper mining, and aluminium mining markets. The mining truck market is expected to reach $33.6 billion by 2028 with a CAGR of 4.5%. In this market, 90 ≤ 149 metric tons is the largest segment by payload capacity, whereas coal mining is largest by application.
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Based on payload capacity, the mining truck market is segmented into 90 metric tons, 90≤149 metric tons, 150≤290 metric tons, and >290 metric tons The 90 ≤ 149 metric tons segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, because it is widely used in small mining sites.
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The Mining Truck Market is marked by the presence of several big and small players. Some of the prominent players offering mining truck include BEML Limited, Bryan Industries, Caterpillar, CNH Industrial, Deere & Company, Doosan Corporation, Hitachi Construction Machinery, Komatsu, Kress Corporation, Voltas Limited, Volvo Group, and XCMG Group.
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