NEW YORK, March 1, 2017 /PRNewswire/ -- The APEJ region is anticipated to hold more than one-fourth value share of the global tipper body equipment market over the forecasted period APEJ accounted for more than 20% value share of the global tipper body equipment market in 2016 and is estimated to reach close to 30% share by the end of 2026. The region is projected to gain more than 150 BPS by the end of 2026 as compared to that in 2016. The APEJ region is forecasted to lead the global tipper body equipment market in terms of CAGR and is expanding at a healthy CAGR of 4.8% over the assessment period. The region is anticipated to reach a market valuation of more than US$ 1,000 Mn by the end of 2026. China is estimated to hold more than one-fourth of the value share in the APEJ tipper body equipment market between 2016 and 2026.
Rising urbanisation and new construction activities in APEJ are expected to boost the global tipper body equipment market
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. Rising urbanisation and new construction activities in APEJ region 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.
- The growing technology and automation innovation in the manufacturing sector has further increased its attractiveness among consumers and industries
- 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 growth of the mining market in the APEJ region is also anticipated to create a lot of opportunities for players in the global tipper body equipment market and in turn fuel up production and sales.
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
By tipping type, the rear tipper body segment is expected to hold more than one-half of the market share in terms of value in the APEJ market. The rear tipper body segment accounted for more than 60% value share of the APEJ tipper body equipment market in 2016 and 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 in 2016. By frame material, the steel segment is expected to hold more than three-fourths of the value share in the APEJ region between 2016 and 2026.
Netherlands based Hyva Global B.V is focussing on establishing joint ventures with major players in the APEJ region
Netherlands based Hyva Global B.V is largely focussed on expanding its tipper body business by increasing its product portfolio and capacity expansion in high growth markets. The company is planning to make strategic investments and is emerging as a leading manufacturer of parts and components for commercial vehicles, especially for pick and carrying transport vehicles in the region. This company is focussing on establishing joint ventures with all major players in the APAC region, especially in China, Japan and India, to increase its overall global sales and develop a foothold in the emerging markets for automobiles.
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