During the historical period between 2018 and 2022, the global sales of tipper body equipment market recorded a noteworthy CAGR of 6%. A considerable valuation of USD 27,345.2 million was achieved in the year 2022 as a result of this expansion.
The need for such equipment is expected to increase with rapid industrialization and the rising usage of tippers for transporting different materials. So, FMI predicts the overall market could expand at a higher CAGR of 7.2% between 2023 and 2033. Following this robust growth rate, the global market value is forecasted to reach USD 54.806.1 million by 2033, growing from USD 29,314.1 million in 2023.
A significant factor driving the sales of tipper body equipment is the explosive rise of end-use sectors, including building, mining, and waste management. Tipper body equipment is an essential component of these sectors’ operations because they rely heavily on effective material handling and transportation. Likewise, trash management businesses also utilize tipper body equipment for effective trash collection and disposal as the focus on eco-friendly waste management techniques is growing.
Investments in the construction and transportation infrastructure also drive the application of effective and dependable tipper body equipment worldwide. Furthermore, government-led infrastructure development projects in many emerging nations fuel the need for construction equipment, particularly tippers.
Key Takeaways from the Global Tipper Body Equipment Market Study Report by FMI
- The United States dominates the global market, contributing to almost 21.4% of the total sales of tipper body equipment made in 2022. However, the regional market in the United States can be impacted by global supply chain interruptions, such as those experienced during the COVID-19 pandemic.
- Germany is the leading supplier of tipper body equipment for the European market, and in the year 2022, it held a global market share of 19.2%. The sales of tipper body equipment in Europe are anticipated to continue to be driven by ongoing and upcoming infrastructure development projects.
- The sales of tipper body equipment in Asia Pacific could be impacted by regional disparities in economic situations, infrastructural development, and industrial expansion. To illustrate, the regional market in China is poised to grow at 8.2% until 2033, while the Indian market could exhibit only a 6.5% growth rate.
Competitive Landscape for the Tipper Body Equipment Market Players
Schmitz Cargobull, Crysteel Manufacturing, Ingimex, VFS (Southampton), Cantoni & C, BION INDUSTRIAL,, Marrel, and Hyva Global are some top players in this market. These leading players with operations in international and regional markets presently have attractive prospects that could further consolidate the market.
Modernizing equipment with cutting-edge technology like telematics and sophisticated control systems may enable manufacturers to draw clients looking for increased operational effectiveness and safety. In addition to this, tipper body equipment manufacturers who value sustainability and create greener solutions are anticipated to have an advantage over their rivals.
Several new manufacturers have emerged to take advantage of the chance to provide a broad selection of tipper body equipment adapted to local industries. Moreover, advanced features paired with customizable solutions are expected to allow new market players to serve a larger consumer base.
Key Segmentations
By Tipping Type:
- Roll-off Tipper Body
- 3-Way Tipper Body
- Rear Tipper Body
By Load Carrying Capacity:
- Below 15 tons
- 15 to 30 tons
- 30 tons & above
By Mechanism:
- Hydraulic
- Pneumatic
By Frame Material:
- Steel
- Aluminum
By End Use:
- Mining
- Construction
- Waste Management
- Marine Services
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
