U.S. - Trucks - Market Analysis, Forecast, Size, Trends and Insights
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U.S. - Trucks - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Jun 13, 2022

U.S. Truck Imports Rebound to $29.7B After Dropping in 2020

IndexBox has just published a new report: 'U.S. - Trucks - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In 2021, the U.S. truck market totaled $37B, surging by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs and intermediaries' margins, which will be included in the final consumer price).

U.S. Truck Production

In value terms, truck production stood at $23.5B in 2021. Over the past decade, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 11% against the previous year. As a result, production attained the peak level of $33B. From 2016 to 2021, production growth remained at a lower figure.

U.S. Truck Exports

From 2011 to 2021, exports of trucks from the U.S. grew from 364.9K units to 449.7K units. In 2021, exports rose by +11.7% compared to 2020.

In value terms, truck exports reached $14.6B in 2021. The total export value increased at an average annual rate of +3.2% from 2011 to 2021.

Exports by Country

Canada (331K units) was the main destination for truck exports from the United States, with a 74% share of total supplies. Moreover, truck exports to Canada exceeded the volume sent to the second major destination, Nigeria (32K units), tenfold. The third position in this ranking was occupied by Mexico (25K units), with a 5.5% share.

In value terms, Canada ($12B) remains the key foreign market for truck exports from the United States, comprising 82% of total supplies. The second position in the ranking was occupied by Mexico ($661M), with a 4.5% share of total exports. It was followed by Australia, with a 2.3% share.

From 2011 to 2021, the average annual rate of growth in terms of value to Canada stood at +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+9.0% per year) and Australia (+25.4% per year).

Export Prices by Country

The average truck export price stood at $32,490 per unit in 2021, picking up by 2.9% against the previous year. Prices varied noticeably by the country of destination: the country with the highest price was Australia ($45,659 per unit), while the average price for exports to Nigeria ($6,413 per unit) was amongst the lowest. From 2011 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

U.S. Truck Imports

From 2011 to 2021, imports of trucks to the U.S. increased from 458.3K units to 973K units. In 2021, imports grew by +12.8% compared to 2020's figure.

In value terms, truck imports soared to $29.7B in 2021. Over the past decade imports volume increased twofold, rising at an average annual rate of +7.8%.

Imports by Country

In 2021, Mexico (924K units) was the main supplier of truck to the United States, accounting for a approx. 95% share of total imports. The value of truck exports from Mexico totaled $27.7. From 2011 to 2021, the average annual rate of growth in terms of value from Mexico totaled +9.2%.

Import Prices by Country

The average truck import price stood at $30,511 per unit in 2021, rising by 5.2% against the previous year. As there is only one major supplying country, the average price level is determined by prices for Mexico. From 2011 to 2021, the rate of growth in terms of prices for Mexico amounted to +1.0% per year.

Source: IndexBox Platform

This report provides an in-depth analysis of the truck market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 29104110 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight . 5 tonnes (excluding dumpers for off-highway use)
• Prodcom 29104130 - Goods vehicles with a diesel or semi-diesel engine, of a gross vehicle weight > 5 tonnes but . .20 tonnes (including vans) (excluding dumpers for off-highway use, tractors)
• Prodcom 29104140 - Goods vehicles with compression-ignition internal combustion piston engine (diesel or semi-diesel), of a gross vehicle weight > .20 tonnes (excluding dumpers designed for offhighway use)
• Prodcom 29104200 - Goods vehicles, with spark-ignition internal combustion piston engine, other goods vehicles, new
Country coverage:
• United States

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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