A construction dumper refers to a compact construction vehicle, which includes a front and rear-mounted skip utilized to transport construction and mining materials around a site or for dumping the material at the desired location.
The global Construction Dumper market was valued at USD 15,804.7 million in 2020, growing with CAGR of 4.7% during the forecast period, 2021-2027. The increasing smart city projects and growing government initiatives regarding the provision of residence to the middle and lower economic class population, and the requirement to enhance transport facilities to drive the trade avenues of the country are expected to present strong growth prospects for the construction dumper market during the forecast period.
A white paper released by Government Technology under the name, “Evolution of Smart Cities and Connected Communities”, co-sponsored by the United Parcel Service (UPS) and the Consumer Technology Association, it is stated that the development of smart city projects in India is near to 600 and around 285 similar projects in China. Thus, smart city projects drive the demand for the construction dumper market during the forecast period.
The COVID-19 pandemic negatively impacted various industries such as automotive, oil & gas, manufacturing, retail, and others due to the lockdown imposed by governments across the globe to limit the spread of the virus. Moreover, the disruption in the supply chain of the product and services is the main cause that affects the market growth during a pandemic. Similarly, the COVID-19 pandemic negatively impacted the growth of the construction dumper market owing to a break in the construction industry. For instance, according to data from AGC, 40% of construction firms have had to lay off staff due to the covid-19 outbreak. However, with the relaxation in the lockdown, the market is slowly recovering and is expected to grow at a constant pace in the future.
In August 2021, John Deere and Hitachi Corporation entered into new license and supply agreements, which allow John Deere to retain manufacture, source, and distribute the cutting-edge lineup of Deere-branded excavators in the Americas. Moreover, in February 2019, Deere & Company introduced 6R Tractors by adding greater models, the 6250R, and 6230R that bring customers faster, stronger, smarter tractors in the 6 Family that excel in hauling, transport, and loader work.