Period 2007-2019
Truck Market Overview in the USA |
Market Overview
In 2019, the U.S. truck market decreased by -
% to $ for the first time since 2016, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded buoyant growth. The pace of growth was the most pronounced in 2012 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2013 to 2019, the growth of the market remained at a lower figure.
In value terms, truck production expanded to $ in 2019. Overall, the total production indicated a measured expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2016 indices. The pace of growth appeared the most rapid in 2010 when the production volume increased by % y-o-y. The U.S. production peaked at $ in 2015; however, from 2016 to 2019, production failed to regain the momentum.
% to $ for the first time since 2016, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded buoyant growth. The pace of growth was the most pronounced in 2012 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2013 to 2019, the growth of the market remained at a lower figure.In value terms, truck production expanded to $
in 2019. Overall, the total production indicated a measured expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2016 indices. The pace of growth appeared the most rapid in 2010 when the production volume increased by % y-o-y. The U.S. production peaked at $ in 2015; however, from 2016 to 2019, production failed to regain the momentum.Consumption
In 2019, consumption of trucks decreased by -% to units for the first time since 2016, thus ending a two-year rising trend. In general, consumption, however, recorded resilient growth. The most prominent rate of growth was recorded in 2012 when the consumption volume increased by % y-o-y. The U.S. consumption peaked at units in 2018, and then reduced modestly in the following year.
The value of the truck market in the U.S. contracted slightly to $ in 2019, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2012 when the market value increased by % y-o-y. As a result, consumption attained the peak level of $. From 2013 to 2019, the growth of the market failed to regain the momentum.
% to units for the first time since 2016, thus ending a two-year rising trend. In general, consumption, however, recorded resilient growth. The most prominent rate of growth was recorded in 2012 when the consumption volume increased by % y-o-y. The U.S. consumption peaked at units in 2018, and then reduced modestly in the following year.The value of the truck market in the U.S. contracted slightly to $
in 2019, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2012 when the market value increased by % y-o-y. As a result, consumption attained the peak level of $. From 2013 to 2019, the growth of the market failed to regain the momentum.Market Forecast
Driven by increasing demand for truck in the U.S., the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to units by the end of .
% for the period from 2019 to , which is projected to bring the market volume to units by the end of .Market Structure
In 2019, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.
% in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.Trade Balance
The U.S. remains a net importer of truck; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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