Published On: Thu, Jun 8th, 2017

Global Tipper Body Equipment Market to Witness Growth

Global Tipper Body Equipment Market to Witness Growth: – The growing urbanization and new booming construction activities in APEJ are expected to boost demand for tipper body equipment in building and construction tasks and this is eventually driving the development of the global tipper body equipment market. Another factor that is creating a lucrative market for tipper body equipment is the healthy competition between manufacturers in the APEJ region.

Steady demand from waste management sector will also provide a push to the market for tipper body equipment. Moreover, technological innovation in tipper body products, such as redesigning of the driver’s cabin in tipping equipment and vehicles to provide an operating experience as convenient as possible, is also anticipated to favor the sales in near future.

Tipper body equipment is installed on tippers or dump trucks. It has a wide application in the construction industry and is used to make tasks such as lifting, loading, and transportation more productive.

Increased research and development initiatives by prominent market participants in the APEJ market are expected to create several growth opportunities and new trends in the global tipper body equipment market in future.

The rear tipper body segment is projected to hold the largest market value share in the APEJ tipper body equipment market during the projected period from 2017 to 2026. It is estimated to reach more than 70% market value share by the end of 2026. The segment is likely to expand at a healthy CAGR of 5.3% over the forecast period in the APEJ region.

By load carrying capacity, the 15-30 ton segment is anticipated to hold more than half the value share in the APEJ market. By mechanism, the hydraulic segment accounted for more than 90% value share in the APEJ tipper body equipment market. By frame material, the steel segment is expected to hold more than three-fourths of the value share in the APEJ region during the forecast period till 2026.

Netherlands-based Hyva Global B.V is focusing on establishing joint ventures with major players in the APEJ region, especially in China, Japan, and India.

Netherlands-based Hyva Global B.V is largely focused on expanding its tipper body business by increasing its product portfolio and capacity expansion in high growth markets.

Among some of the key companies operating in the global tipper body equipment market landscape, Schmitz Cargobull AG and Hyva Global B.V. are likely to continue representing leading revenue shares over the forecast period.

Other notable players include Crysteel Manufacturing Inc., Thompsons (UK) Ltd., BION INDUSTRIAL LLC, and F.X. MEILLER.

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