The tipper body equipment market is expected to reach US$54.8B by 2033, driven by new technologies that make vehicles more efficient and productive and the growing demand for commercial vehicles in various industries.
NEWARK, Del., Oct. 19, 2023 /PRNewswire/ — Tipper Body Equipment Market by Roll-off Tipper Body, 3-Way Tipper Body, and Rear Tipper Body Types, Opportunities and Forecast 2023 – 2033
During the historical period between 2018 and 2022, the global market of tipper body equipment recorded a noteworthy CAGR of 6%. A considerable valuation of US$ 27,345.2 million was achieved in the year 2022 as a result of this expansion.
The need for such equipment is expected to increase with rapid industrialization and the rising usage of tippers for transporting different materials. So, FMI predicts the overall market could expand at a higher CAGR of 7.2% between 2023 and 2033. Following this robust growth rate, the global market value is forecasted to reach US$ 54.806.1 million by 2033, growing from US$ 29,314.1 million in 2023.
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A significant factor driving the sales of tipper body equipment is the explosive rise of end-use sectors, including building, mining, and waste management. Tipper body equipment is essential to these sectors’ operations because they rely heavily on effective material handling and transportation. Likewise, trash management businesses also utilize tipper body equipment for effective trash collection and disposal as the focus on eco-friendly waste management techniques is growing.
Investments in the construction and transportation infrastructure also drive the application of effective and dependable tipper body equipment worldwide. Furthermore, government-led infrastructure development projects in many emerging nations fuel the need for construction equipment, particularly tippers.
Key Takeaways from the Global Tipper Body Equipment Market Study Report by FMI
The United States dominates the global market, contributing to almost 21.4% of tipper body equipment sales in 2022. However, the regional market in the United States can be impacted by global supply chain interruptions, such as those experienced during the COVID-19 pandemic.
Germany is the leading supplier of tipper body equipment for the European market, and in the year 2022, it held a global market share of 19.2%. The sales of tipper body equipment in Europe are anticipated to continue to be driven by ongoing and upcoming infrastructure development projects.
The sales of tipper body equipment in Asia Pacific could be impacted by regional disparities in economic situations, infrastructural development, and industrial expansion. To illustrate, the regional market in China is poised to grow at 8.2% until 2033, while the Indian market could exhibit only a 6.5% growth rate.
“Tipper body equipment is pivotal in construction and logistics,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.). “These specialized vehicle attachments enable efficient material transport and handling, enhancing productivity and versatility in construction, mining, and waste management.”
Tipper Body Equipment Market Research Report Coverage:
|
Attribute |
Details |
|
Estimated Market Size (2023) |
US$ 29,314.1 million |
|
Projected Market Size (2033) |
US$ 54,806.1 million |
|
Anticipated Growth Rate (2023 to 2033) |
7.2 % |
|
Forecast Period |
2023 to 2033 |
|
Historical Data Available for |
2018 to 2022 |
|
Market Analysis |
US$ million for Value and Units for Volume |
|
Key Regions Covered |
North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA) |
|
Key Countries Covered |
The United States, Canada, Mexico, Brazil, Germany, France, Italy, Spain, BENELUX, The United Kingdom, Russia, China, Japan, South Korea, India, Association of Southeast Asian Nations, Australia & New Zealand, Turkey, South Africa, and Northern Africa. |
|
Key Market Segments Covered |
Tipping Type, Load Carrying Capacity, Mechanism, Frame Material, End Use, and Region |
|
Key Companies Profiled |
Schmitz Cargobull AG
|
|
Report Coverage |
Market forecast, brand share analysis, competition intelligence, DROT analysis, market dynamics and challenges, strategic growth initiatives |
Competitive Landscape for the Tipper Body Equipment Market Players
Schmitz Cargobull, Crysteel Manufacturing, Ingimex, VFS (Southampton), Cantoni & C, BION INDUSTRIAL,, Marrel, and Hyva Global are some top players in this market. These leading players with operations in international and regional markets presently have attractive prospects that could further consolidate the market.
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Modernizing equipment with cutting-edge technology like telematics and sophisticated control systems may enable manufacturers to draw clients looking for increased operational effectiveness and safety. In addition to this, tipper body equipment manufacturers who value sustainability and create greener solutions are anticipated to have an advantage over their rivals.
Several new manufacturers have emerged to take advantage of the chance to provide a broad selection of tipper body equipment adapted to local industries. Moreover, advanced features paired with customizable solutions are expected to allow new market players to serve a larger consumer base.
About the Industrial Automation Division at Future Market Insights (FMI)
The industrial automation division of Future Market Insights (FMI) offers a novel approach and innovative perspective in analyzing the industrial automation domain. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established and budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
Get the detailed research methodology of this report, including the data collection and analysis methods used, from here!
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI’s latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE Future Market Insights