The market for load, haul and dump trucks (LHD) is expected to grow at a CAGR of 6.8% through the forecast period 2021 - 2029. This rise in demand for LHD trucks is due increasing number of underground mines across the world to satisfy global metal and minerals demand. In order to match stringent government regulations on fuel consumption and greenhouse gas reduction, underground mining equipment manufacturers are focusing on introducing fuel efficient models. Manufacturers are integrating customized hardware solutions and software solutions to reduce fuel particulates and to improve fuel efficiency. Caterpillar has integrated advanced ventilation reduction package with its new loader CAT 3000H LHD to reduce diesel particulate matter and to improve fuel efficiency.

Global LHD market is highly competitive and majorly dominated recognized multinational players such as Caterpillar, Sandvik and Atlas Copco. Market competition among leading players is expected to increase with market consolidation in future. For instance, Komatsu Ltd., in July 2016, announced to acquire the U.S. based surface and underground mining equipment manufacturer Joy Global, Inc. in order to strengthen its position in the underground mining equipment segment. Another major instance is the collaboration of Komatsu Ltd. with GE Mining in January 2014. Similarly, U.S. based Caterpillar, Inc. had acquired Bucyrus International, Inc., a U.S. based surface and underground mining equipment company.

1.1.1   USP and Key Offerings

The report titled “Load, Haul and Dump (LHD) Trucks Market- Growth, Future Prospects, and Competitive Analysis, 2021 – 2029” offers strategic insights into the overall LHD market along with the market estimates and forecast (in terms of both revenue and volume) for the duration 2019 to 2029. This research study covers in-depth analysis of multiple market segments based on engine type, capacity and different geographies. The report include market estimates in terms of both revenue and volume for regional markets (North America, Europe, Asia Pacific and Rest of the world) as well as for major countries in the region. 

In order to assist in strategic decision making, the report also includes competitive profiling of the leading players in LHD market, attractive investment proposition and, and market positioning of key vendors sections. Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the LHD industry
• Market influencing factors, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Historical 2-Years market size data (2018 – 2019)
• Market Forecast for the period 2019 – 2029
• Market investment proposition – Key Investment Segments
• Company profiles of leading players in the global LHD industry (including financial overview, product portfolio, recent developments and major competitors)

Overall, the research study provides a holistic view of the treatment global heavy axles market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above-mentioned factors.

The global Load, Haul and Dump (LHD) market is classified into following categories:

• By Engine Type
  • Diesel
  • Electric
• By Capacity
  • Less than 5.5 tons
  • 5.5 tons to less than 8.5
  • 8.5 tons to less than 12
  • 12 tons to less than 15
  • 15 tons to less than 20
  • Capacity 20 Tons or More

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Load, Haul and Dump (LHD) market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Load, Haul and Dump (LHD) market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Load, Haul and Dump (LHD) market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Load, Haul and Dump (LHD) market?
• Which is the largest regional market for Load, Haul and Dump (LHD) market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Load, Haul and Dump (LHD) market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Load, Haul and Dump (LHD) market worldwide?