Tipper Body Market Analysis | CMI

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TIPPER BODY MARKET ANALYSIS

• Tipper Body Market, by Tipper Type (Roll Off
  Tipper Body, 3 Way Tipper Body and Rear Tipper
  Body), by Load Carrying Capacity (Below 15 Tons,
  15 30 Tons and 30 Tons Above), by Mechanism
  (Hydraulic and Pneumatic), by Frame Material
  (Steel and Aluminum) by Load Carrying Capacity
  (Mining, Construction, Waste Management, Marine
  Services, and Others) and by Geography (North
  America, Europe, Asia Pacific, and Latin America,
  Middle East Africa) - Size, Share, Outlook, and
  Opportunity Analysis, 2019 - 2027
• The Global Tipper Body Market is estimated to
  account for US 3,727.1 Mn in terms of value and
  72.3 thousand units in terms of volume by the end
  of 2019

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Market Drivers

• Rampant growth of construction industry coupled
  with rapid urbanization is expected to drive
  growth of the global Tipper Body Market during
  the forecast period
• Tipper body are installed on a dumpster truck or
  tipper where they find extensive applications in
  the construction industry. These trucks are
  employed to perform tasks such as loading,
  lifting, and transportation of goods. Rapid
  growth of construction industry in the recent
  past coupled with rampant urbanization is
  expected to propel the global tipper body market
  over the forecast period. For instance, the
  global construction industry was valued at US
  8.0 trillion in 2012, and is expected to reach
  US 15 trillion by 2025. Furthermore, rapid
  urbanization in the recent past is expected to
  boost the demand for tipper body and construction
  trucks.

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• Development of novel technology and automation is
  expected to boost the construction activities
• Growing technology and automation has enhanced
  the quality of dumper trucks and tipping body
  equipment. This, in turn, has led to increasing
  demand for such advanced equipment to perform
  heavy-duty work at construction sites. Key
  players in the market are focused on developing
  strong and robust equipment with lasting chassis,
  in order to survive daunting working conditions
  and extreme loads. Moreover, advancement in
  material science technology has led to
  utilization of various alloys of aluminum and
  steel, which has made tipper body sturdier than
  ever. Thus, advancement in technology and
  automation are expected to fuel the market growth
  in the near future.

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Statistics

• Asia pacific region dominated the global tipper
  body market in 2019, accounting for 32.2 share
  in terms of volume, followed by North America and
  Latin America, respective

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Market Restraints

• High initial and maintenance cost associated with
  tipper bodies are expected to restrain growth of
  the global tipper body market over the forecast
  period
• Initial cost as well as maintenance cost of
  tipping equipment is significantly high, which as
  influenced outright purchase of these equipment.
  Industry experts and leading rental companies
  recommend that it is more economical to rent a
  dumping vehicle if the use of an equipment is not
  two-thirds of its average life. Moreover, the
  maintenance cost for these dumpster and tipper
  vehicles is extremely high whereas maintenance
  must be done at regular intervals. This, in turn,
  is expected hinder the demand for tipper body and
  thereby restrain the market growth in the near
  future.

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• Lack of skilled personnel for accurate dumping
  and tipping operations and absence of proper
  manufacturing standards to avoid road accidents
  are expected to hamper the global tipper body
  market growth in the near future
• Lack of trained professionals can directly affect
  the safety at worksite leading to accidents and
  injuries. Some specific machines require high
  trained professionals, in order to execute the
  work properly. Moreover, dumpster truck is built
  such as that they can withstand off-road or
  construction site conditions. However, the main
  disadvantage it has that in a collision with
  standard passenger car, the entire section goes
  under the truck where passenger and the car could
  get severely injured. Thus, these factors are
  expected restrain the market growth in the near
  future.

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Market Opportunities

• High growth of construction, waste management,
  and mining industries is expected to pose
  significant growth opportunities for market
  players in the near future
• Tipper trucks are extensively used in various
  industries including waste management,
  construction, mining, etc. They more productive
  and efficient as compared to other transportation
  vehicles, hence, are preferred more for various
  pick and drop operations. Furthermore, the global
  mining industry is expected witness significant
  growth in the near future, owing to increasing
  need for natural minerals and resources. Waste
  management, too, is a major industry, which is
  expected exhibit significant CAGR over the
  forecast period, owing to growing awareness
  regarding healthcare. According to United Nations
  Environment Programme Organization (UNEP), around
  2 billion ton of municipal solid waste and 7-10
  billion ton of urban waste is generated every
  year.

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• Product innovation in the global tipper body
  market is expected to offer lucrative growth
  opportunities for market players
• Buyers in developed regions such as Europe and
  North America are looking for advanced equipment
  with efficient performance and automation.
  Constant RD activities in this market has
  improved the consumer response and has created
  significant growth opportunities in the market.

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Market Trends

• Constant research and development activities to
  innovate novel products is a major trend in the
  market
• Key players in the market are involved in
  research and development activities, in order to
  innovate novel products. Introduction of advanced
  technologies has led to increase in demand for
  tipper body and vehicles and thereby driving the
  market growth. For instance, Komatsus latest
  design, the new 27-foot-wide and 49-foot-long
  giant, powered with 2700 HP engine is Innovative
  Autonomous Haulage Vehicle (IAHV).
• Development of cost-competitive products to
  enhance the market penetration is another key
  trend in the market
• Key players in the market are focused on
  developing cost-competitive products, in order to
  increase their penetration in emerging economies
  such as India, South Africa, and China.
  Development of efficient tipper with enhance load
  capacity is expected to drive the market growth
  in the near future.

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Segment Information

• Global tipper body market, by mechanism type
  segment, hydraulic sub-segment was valued at
  US3235.2 Mn in 2019 and is expected to grow at a
  CAGR of 4.3 between 2019 and 2027

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Competitive Section

• Key players operating in the global tipper body
  market are Schmitz Cargobull AG, Crysteel
  Manufacturing Inc., Thompsons (UK) Ltd., Ingimex
  Ltd., VFS (Southampton) Ltd, and Cantoni C
  S.p.A.

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Key Developments

• In June 2019, Schmitz Cargobull announced that
  they have entered into partnership with PEMA GmbH
  which is a vehicle leasing company in Europe to
  build Schmitz Cargobull entire product spectrum,
  ranging from state-of-the-art refrigerated
  semi-trailers to universal curtainsiders and
  tipper trailers for agricultural harvesting.
• In July 2017, Scania CV India Pvt. Ltd which is
  into manufacturing of commercial vehicles and
  engine announced that they have launched a new P
  440 8X4 20.2 Cu.m U-BODY tipper. This new design
  of tipper will help to increase the productivity
  of mining tippers and improve the total operating
  economy.

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