Articulated Hauler Market Report Examines Top Company Analysis Forecast by 2028
Posted by faisal on January 22nd, 2020
Also known as articulated dump trucks, articulated haulers are large, heavy duty variants of dump trucks, which are primarily used to transport larger loads in rough terrain. Most of these vehicles are equipped with all wheel drives. While the vehicle was first developed to transport soil and other aggregates, in recent times these vehicles are also finding application in the fields of highway maintenance, agriculture, construction, and mining.
Decline in Rigid Haulers Supports the Growth of Articulated Haulers
The global articulated hauler market is largely controlled by a few companies, which hold control over most of the demand from haulers including end use industries, which has resulted in a consolidated business atmosphere.
Major players such as Hitachi construction, Caterpillar, Deere & Company, Komatsu, CNH Industrial N.V., and Volvo are increasing their investments into research and development activities, regional expansion, and the launch of new products, to maintain their greater market share.
In addition, the European construction industry, which has been witnessing growth in recent years, has now plateaued, and will gradually decline in the near future. Consequently, vehicle manufacturers are reducing the production of equipment such as excavators, cranes and more.
On the other hand, the demand for articulated haulers has continued to go up, which has offset the falling use of rigid haulers. The demand can be attributed to the increased number of major infrastructure projects including the development of rail projects, which require articulated haulers for earthmoving applications.
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Leasing Practices Go Up to Meet Temporary Equipment Solutions
The global construction industry is highly reliant on the temporary use of equipment, where businesses prefer to focus on the costs of the equipment, which can be very high in terms of purchases. Consequently, construction and building firms are preferring to rent out equipment such as articulated haulers instead of taking ownership.
Major manufacturers also provide on demand rental services, for temporary projects, while also providing packages for quality assurance and maintenance support, which are provided through dealers of major market players.
While most sales of articulated haulers involves dealers, such a business model is poor in terms of configuration, prices, and invoices. Such issues restrict the scope of scaling up the industry where buyers are rapidly increasing into the millions.
As a result major manufacturers have been pushing to improve the digitalization of B2C business models, which includes options from a variety of distribution business, while the equipment will be sold only directly to customers. The use of direct to customer sales will strengthen the distribution network, and boost profits.
Emission Reduction and Fuel Efficiency Features Become Mainstream
Manufacturers have been pushing technologies to cut down on emissions, while staying in compliance with the strict international emission standards. Market players are also improving fuel efficiency and higher productivity to bolster brand image.
Newer variants of articulated haulers are equipped with fuel sipping engines, higher power storage capacity, and GPS and telematics technology. Other improvements include higher brake sensitivity, upgrades to suspension, and automated retarder control.
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Joined: October 9th, 2019
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