Global Tipper Bodys market was valued at US$ 42221.5 Billion in 2022, and is projected to reach US$ 62.68 Billion by 2030, exhibiting a CAGR of 5.1% over the forecast period (2023-2030). According to Global Tipper Body Market Report, " By Tipper Body (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, Aluminum), By End-use Industry(Mining, Construction, Waste Management, Marine Services, Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
Rising demand for tipper bodies can be primarily attributed to factors like rapidly increasing construction activities, growth of the mining sector, increasing need for transportation of solid waste in major cities across the world, etc. All these activities require the movement of material like soil, stones, garbage, construction dump, raw material, etc. These material are usually transported in big lot sizes hence, they require the use of trucks or heavy duty commercial vehicles with attached tipper bodies to easily transport and dump the required material conveniently. This gives a huge opportunity for the tipper body market to grow by catering to the specific requirements of the industries they are utilized in. Moreover, the innovations in the field of manufacturing of tipper bodies is driving the market growth by providing more efficient and practical solutions to the end users with options like rotary motion, hydraulic and pneumatic cylinders, etc.
Global Tipper Body Market- Drivers
Technological advancements in construction of tipper bodies:
The tipper body market is constantly on the track towards technological advancement in order to cater to the specific requirements of the end use industries. The requirements of tipper bodies used in the construction industry would definitely be different from the ones used in transportation of agricultural raw material or the garbage disposal trucks. The players in tipper body market are actively working towards improving their offerings in terms of overall quality and adoption new technological changes in tipping mechanism. For instance, In June 2022, Schmitz Cargobull, a German manufacturer of trailers, trucks and truck bodies, announced the re-launch of their Z.KI model of tipper semi-trailer with a newly designed chassis with central axle. This new chassis provides the tipper truck a better handling and increased payload of around 180 Kg.
Global Tipper Body Market- Restraints
High maintenance cost of the tipper bodies:
The tipper bodies attached to the heavy as well as light duty commercial vehicles are responsible for loading, carrying and offloading various types of material like stones, sand, debris, garbage, agricultural feed, etc. More often than not these material are the ones that need to be dumped off-site. Such material have the potential to damage the metal frame of the tipper body as well as the mechanical components like hydraulic cylinders leading to their damages. This needs to be taken care by frequent maintenance activities to ensure the tipper bodies perform their task efficiently. For instance, in March 2023, Morgan Truck Body unveiled mobile service unit for the roadside assistance of the tipper trailer fleet. The vehicle will be featured on an Isuzu NPR-HD gas powered chassis and include all service elements. This would come at a significant cost for the tipper truck end users.
Global Tipper Body Market- Key Developments
In October 2022, Diamler, a German manufacturer of trucks and trailers, announced the launch of its latest offerings in the form of electric trucks fleet including semi-trailers and tippers. The model eActros LongHaul was first unveiled by the parent company Mercedes-Benz at IAA transportation event in September 2022. The electric tipper truck will have a range of around 500 kilometer.
In June 2019, Hyva, a Dutch manufacturer of transportation solutions and South African supplier of hydraulic equipment, Lift & Shift announced their strategic partnership in order to expand their presence in South Africa and cater to the market needs in the region effectively. This merger was done with the aim to create a new powerhouse in tipping solutions by combining the resources and expertise of both companies.
In May 2023, Cantoni & C S.p.A, a Libya based tipper manufacturer announced the launch of new tipping solution Half-Pipe Mark 2.0 which is a rear tipper body with semi-rigid telescopic hydraulic cylinder and extra stable and wide bolted rear fulcrum.
Global Tipper Body Market- Impact of COVID-19
The COVID-19 pandemic had a severe effect on businesses across the globe. The automotive and transportation industry have been impacted by the COVID-19 pandemic. Global Tipper Body market has also been affected as the manufacturing plants were shut down due to the lockdown imposed by governments all over the world. Lack of labor were available to avoid mass-gathering has affected the market growth. Many manufacturers closed their production activities due to the restrictions imposed by the governments all over the world. The pandemic has led to a decline in global vehicle sales including the light and heavy duty commercial vehicles. This has resulted in significant decrease in the demand for tipper bodies. The supply-side as well as the demand-side of the market was severely affected during the pandemic period resulting in the stagnancy in the growth rate of global tipper body market.
The European region where majority of the automotive manufacturers have a significant presence was also severely affected by the pandemic which has led to an adverse effect on the market demand as well as supply of the tipper bodies globally.
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Key Trends and Analysis of the Global Tipper Body market:
- Hydraulic segment held a dominant position in 2022 and is projected to retain its dominance throughout the forecast period. Better efficiency and easy to use mechanism has led to the wide adoption of this system into the global tipper body market.
- Asia Pacific held a dominant position in the global Tipper Body market in 2022 and is expected to maintain its dominance during the forecast period, owing to increasing number of construction and mining activities has led to a sharp increase in demand for the tipper bodies used in these industries.
- Asia Pacific Tipper Body market is projected to exhibit the highest CAGR during 2023–2030. The governments in the region provide various tax benefits to encourage the purchase of commercial vehicles. This is expected to increase the demand for electric vehicles in the. Asia Pacific region
- Europe, Middle East, and Africa are also expected to show significant growth during the forecast period, owing to increasing demand for automobile vehicles in these regions
- Some of the major players in the global Tipper Body market are Bion Group, Cantoni & C S.P.A, Crysteel Manufacturing Inc., Daimler AG, Hyva Global B.V., Ingimex Ltd, Komatsu Limited, Marrel SAS, Thompsons Ltd., VFS Parts and Aftersales and others
