U.S. Heavy Duty Truck Market. Analysis And Forecast to 2025
Heavy Duty Truck Market - Net U.S. Heavy Duty Truck Imports Growing Significantly, Following Rocketing Imports from Mexico
The U.S. dominates in global imports on the heavy duty truck market, accounting for a 17% share (based on USD). It was followed by Canada (7%), Germany (6%) and France (6%). In 2015, U.S. heavy duty truck imports totaled 16,262 million USD, which was 950 million USD (+6%) more than the year before.
From 2007 to 2015, U.S. heavy duty truck imports showed mixed dynamics. A slight drop in 2009 was followed by rocketing growth over the next six years. There was an annual increase of +20.4% throughout the period from 2010 (since recovery started) to 2015. In 2011, U.S. heavy duty truck importers overcame the pre-recession imports level achieved in 2007.
Despite fierce competition, the U.S. continues to be one of the most attractive destinations for overseas suppliers.
Mexico was the major supplier of heavy duty truck into the U.S., with a 78% share of total U.S. imports in 2015. Moreover, Mexico was the fastest growing supplier with an annual growth rate of +21.8% from 2007 to 2015. Therefore, Mexico significantly strengthened its position in the U.S. import structure, from 38% in 2007 to 78% in 2015. By contrast, Canada saw its share reduced to 12%.
From 2007 to 2015, the U.S. was a net importer of heavy duty truck. Moreover, imports grew faster than exports on average over the period under review.
Net US imports of heavy duty truck showed an upward trend over the period under review. In 2015, this industry ran a significant trade deficit of 9,154 million USD, approximately 56% of gross imports.
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Source: IndexBox AI Platform
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