On the basis of drive options, the global mining truck market can be segmented as a mechanical or electrical drive. The market on the basis of the number of axles can be given as 2, 3, 4 or more axle trucks. Advances in transmission and drive trains in mechanical trucks are likely to boost demand for this market segment in the near future. Stringent production standards set by mining companies to meet the unprecedented demand for materials mined, various equipment manufacturers are laying emphasis on building larger and efficient trucks to suit unique challenges and environment.
The need for efficient and smooth transfer of large quantity mined material is likely to play an important role in the growth of this market. Technological advances by the market players, such as Autonomous Haulage System( AHS) by Komatsu, are anticipated to provide ample growth opportunities in the global mining truck market. The market is likely to grow at a significant rate in the future. Product development by various market players such as Komatsu, Hitachi, Belaz and Terex is likely to boost growth across all the regions.
Some of the key players in the global mining trucks market include BAS Mining Trucks, Caterpillar, Inc., European Truck Factory GmbH, H-E Parts International, LLC, Hitachi Construction Machinery Co., Ltd., Komatsu Ltd., Liebherr, OJSC Belaz, Terex Corporation, and The Parker Bay Company.
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