In 2022, the market for tipper body equipment was valued at roughly US$ 27,345.2 million, and it is anticipated to increase to US$ 29,314.1 million by 2023. Additionally, because of increased tipper usage across numerous industries, such as waste management, construction, and mining, overall sales of tipper body equipment are predicted to grow at a 7.2% CAGR from 2023 to 2033, reaching a market value of US$ 54.806.1 million by that year.
The market value of the region is anticipated to surpass US$ 1 billion by the end of 2026. China is anticipated to have more than one-fourth of the market’s value share for APEJ tipper body equipment between 2016 and 2026.
Additionally, expensive capital and high maintenance costs will continue to be long-term market growth inhibitors. The high upfront expenses of truck body equipment are, however, encouraging the development of rental tipper enterprises and forcing those that are already established to become more organized to meet the expanding demand for rental tipper body equipment.
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Global Tipper Body Equipment Market: Regional Insights
- A regional analysis of the global tipper body equipment market by Future Market Insights indicates that Asia Pacific (excluding Japan), North America, Latin America, and Europe will be the key markets throughout the next decade.
- APEJ, driven by China and India, is projected to dominate with more than 28% value share at the end of the assessed period with a gain of 180 BPS.
- North America will remain the second-largest regional market that is expected to bag over 23% share in 2026.
Global Tipper Body Equipment Market: Key Vendor Insights
- 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. MILLER.
- While the majority of key players are strategizing new product launches, collaborations, and joint ventures, others are focusing more on production capacity expansion and acquisitions.
Global Tipper Body Equipment Market: Overall Dynamics
With increasing urbanization and thriving construction and mining sectors, demand for tipper body equipment is expected to remain stable in the coming years. Consistent demand from the waste management industry will also drive the market for tipper body equipment. Furthermore, technological innovation in tipper body products, such as redesigning the driver’s cabin in tipping equipment and vehicles to provide the most convenient operating experience possible, is expected to boost sales in the near future.
Manufacturers’ increasing use of advanced telematics systems is expected to remain a key market driver over the next decade. During the assessment, another key factor identified as potentially driving market growth is the rapid adoption of automation.
Another remarkable trend driving the market includes the development of cost-competitive products to maximise penetration in emerging economies, such as China, India, and South Africa. The development of effective tipper body equipment with enhanced load-carrying capacity and provision of the efficient buyer and drivers training by manufacturing entities are likely to present lucrative growth opportunities. While product development with advanced diagnosis systems can be a key to sustaining relatively mature markets, such as North America and Western Europe; massive potential lies in developing countries, including BRIC nations.
Key Companies Profiled:
- Schmitz Cargobull AG
- Crysteel Manufacturing Inc
- Ingimex Ltd
- VFS (Southampton) Ltd.
- Cantoni & C S.p.A.
- BION INDUSTRIAL LLC
- F.X. MEILLER Fahrzeug- u. Maschinenfabrik- GmbH & Co KG
- Marrel
- Hyva Global B.V
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Global Tipper Body Equipment Market Segmentation
To understand and assess opportunities in the global tipper body equipment market, we have divided the report into six sections based on market segmentation as under:
By Tipping Type
- Roll-off Tipper Body
- 3-Way Tipper Body
- Rear Tipper Body
By Load Carrying Capacity
- Below 15 tons
- 15–30 tons
- 30 tons & above
By Mechanism
- Hydraulic
- Pneumatic
By Frame Material
- Steel
- Aluminium
By End Use
- Mining
- Construction
- Waste Management
- Marine Services
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East and Africa (MEA)
- Japan
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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