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U.S. Heavy Duty Truck Market. Analysis And Forecast to 2025
Update: COVID-19 Impact

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U.S.: Truck Market Overview 2021

Truck Market Size in the U.S.

In 2020, the U.S. truck market decreased by -X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the market value increased by X% y-o-y. Truck consumption peaked at $X in 2015; however, from 2016 to 2020, consumption failed to regain the momentum.

Truck Production in the U.S.

In value terms, truck production totaled $X in 2020. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. from 2016 to 2020, production growth failed to regain the momentum.

Truck Exports

Exports from the U.S.

After three years of growth, shipments abroad of heavy duty trucks decreased by -X% to X units in 2020. In general, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Exports peaked at X units in 2013; however, from 2014 to 2020, exports failed to regain the momentum.

In value terms, truck exports declined remarkably to $X in 2020. Overall, exports recorded a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. Over the period under review, exports hit record highs at $X in 2019, and then contracted dramatically in the following year.

Exports by Country

Canada (X units) was the main destination for truck exports from the U.S., accounting for a X% share of total exports. Moreover, truck exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), fourfold. The Dominican Republic (X units) ranked third in terms of total exports with a X% share.

From 2013 to 2020, the average annual rate of growth in terms of volume to Canada totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-X% per year) and the Dominican Republic (+X% per year).

In value terms, Canada ($X) remains the key foreign market for truck exports from the U.S., comprising X% of total exports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2013 to 2020, the average annual growth rate of value to Canada amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-X% per year) and Australia (-X% per year).

Export Prices by Country

The average truck export price stood at $X per unit in 2020, with a decrease of -X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% y-o-y. As a result, export price reached the peak level of $X per unit. from 2019 to 2020, the growth in terms of the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Australia ($X per unit), while the average price for exports to the Dominican Republic ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Australia, while the prices for the other major destinations experienced mixed trend patterns.

Truck Imports

Imports into the U.S.

For the third consecutive year, the U.S. recorded decline in overseas purchases of heavy duty trucks, which decreased by -X% to X units in 2020. Over the period under review, imports saw a perceptible curtailment. The growth pace was the most rapid in 2014 when imports increased by X% year-to-year. Imports peaked at X units in 2015; however, from 2016 to 2020, imports failed to regain the momentum.

In value terms, truck imports dropped notably to $X in 2020. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X% y-o-y. Over the period under review, imports reached the maximum at $X in 2019, and then contracted rapidly in the following year.

Imports by Country

In 2020, Mexico (X units) constituted the largest supplier of truck to the U.S., with a X% share of total imports. Moreover, truck imports from Mexico exceeded the figures recorded by the second-largest supplier, Canada (X units), sixfold. The third position in this ranking was occupied by Japan (X units), with a X% share.

From 2013 to 2020, the average annual growth rate of volume from Mexico totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+X% per year) and Japan (-X% per year).

In value terms, Mexico ($X) constituted the largest supplier of truck to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Canada ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2013 to 2020, the average annual growth rate of value from Mexico stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+X% per year) and Japan (-X% per year).

Import Prices by Country

The average truck import price stood at $X per unit in 2020, increasing by X% against the previous year. Overall, the import price enjoyed a pronounced increase. The pace of growth was the most pronounced in 2018 an increase of X% year-to-year. Over the period under review, average import prices attained the maximum in 2020 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Canada ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Mexico, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the leading suppliers of heavy duty trucks to the U.S.?
+
In value terms, Mexico ($7.8B) constituted the largest supplier of truck to the U.S., comprising 78% of total imports. The second position in the ranking was occupied by Canada ($1.5B), with a 15% share of total imports. It was followed by Japan, with a 2.7% share.
What are the leading importers of heavy duty trucks from the U.S.?
+
In value terms, Canada ($2.9B) remains the key foreign market for truck exports from the U.S., comprising 71% of total exports. The second position in the ranking was occupied by Mexico ($182M), with a 4.5% share of total exports. It was followed by Australia, with a 4% share.
What is the average export price for heavy duty trucks in the U.S.?
+
In 2020, the average truck export price amounted to $65,732 per unit, falling by -6.5% against the previous year.
What is the average import price for heavy duty trucks in the U.S.?
+
The average truck import price stood at $79,918 per unit in 2020, growing by 1.8% against the previous year.

Product coverage:
• NAICS 336120 - Heavy duty truck manufacturing

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 2025.


Country coverage:
• USA

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

2.1
KEY FINDINGS
2.2
MARKET TRENDS
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 2013–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2013–2020
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 2020
Table 2:
Market Volume, In Physical Terms, 2013–2020
Table 3:
Market Value, 2013–2020
Table 4:
Per Capita Consumption In 2013–2020
Table 5:
Imports, In Physical Terms, By Country, 2013–2020
Table 6:
Imports, In Value Terms, By Country, 2013–2020
Table 7:
Import Prices, By Country Of Origin, 2013–2020
Table 8:
Exports, In Physical Terms, By Country, 2013–2020
Table 9:
Exports, In Value Terms, By Country, 2013–2020
Table 10:
Export Prices, By Country Of Destination, 2013–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2013–2020
Figure 2:
Market Value, 2013–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2013–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2013–2020
Figure 5:
Trade Balance, In Physical Terms, 2013–2020
Figure 6:
Trade Balance, In Value Terms, 2013–2020
Figure 7:
Per Capita Consumption, 2013–2020
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, 2013–2020
Figure 21:
Production, In Value Terms, 2013–2020
Figure 22:
Imports, In Physical Terms, 2013–2020
Figure 23:
Imports, In Value Terms, 2013–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2013–2020
Figure 26:
Imports, In Value Terms, By Country, 2013–2020
Figure 27:
Import Prices, By Country Of Origin, 2013–2020
Figure 28:
Exports, In Physical Terms, 2013–2020
Figure 29:
Exports, In Value Terms, 2013–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2013–2020
Figure 32:
Exports, In Value Terms, By Country, 2013–2020
Figure 33:
Export Prices, By Country Of Destination, 2013–2020

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