U.S. - Trucks - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTruck Price in the United States - 2023
Contents:
- Truck Price in the United States (CIF) - 2022
- Truck Price in the United States (FOB) - 2023
- Truck Imports in the United States
- Truck Exports in the United States
Truck Price in the United States (CIF) - 2022
The average truck import price stood at $32,085 per unit in 2022, surging by 5.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2020 when the average import price increased by 11%. The import price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($37,027 per unit), while the price for Spain ($16,779 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.5%), while the prices for the other major suppliers experienced a decline.
Truck Price in the United States (FOB) - 2023
The average truck export price stood at $39,924 per unit in July 2023, dropping by -7.5% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 7% against the previous month. As a result, the export price attained the peak level of $43,141 per unit, and then dropped in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was Australia ($56,363 per unit), while the average price for exports to Mexico ($30,675 per unit) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.
Truck Imports in the United States
In 2022, the amount of trucks imported into the United States expanded to 1M units, rising by 3.5% compared with 2021. Over the period under review, imports, however, saw a deep setback. The most prominent rate of growth was recorded in 2021 when imports increased by 15% against the previous year. Over the period under review, imports reached the maximum at 1.2M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, truck imports expanded notably to $32.3B in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 19%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.
Import of Truck in the United States (Billion USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Mexico | 26.3 | 22.8 | 27.7 | 27.4 | 1.4% |
Canada | 3.8 | 1.2 | 1.1 | 3.6 | -1.8% |
Japan | 0.7 | 0.3 | 0.4 | 0.5 | -10.6% |
Spain | 0.6 | 0.6 | 0.3 | 0.4 | -12.6% |
Others | 0.2 | 0.2 | 0.2 | 0.4 | 26.0% |
Total | 31.7 | 25.0 | 29.7 | 32.3 | 0.6% |
Top Suppliers of Truck to the United States in 2022:
- Mexico (858.7K units)
- Canada (98.0K units)
- Spain (24.1K units)
- Japan (15.4K units)
Truck Exports in the United States
In 2022, approx. 428K units of trucks were exported from the United States; remaining constant against 2021. Overall, exports, however, showed a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 10% against the previous year. Over the period under review, the exports reached the peak figure at 601K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, truck exports rose notably to $15.8B in 2022. The total export value increased at an average annual rate of +1.4% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 15%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
Export of Truck in the United States (Billion USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | 12.9 | 10.7 | 12.0 | 12.6 | -0.8% |
Mexico | 0.7 | 0.6 | 0.7 | 0.9 | 8.7% |
Australia | 0.1 | 0.2 | 0.3 | 0.5 | 71.0% |
Others | 1.5 | 1.2 | 1.6 | 1.9 | 8.2% |
Total | 15.2 | 12.7 | 14.6 | 15.8 | 1.3% |
Top Export Markets for Truck from the United States in 2022:
- Canada (331.6K units)
- Mexico (30.4K units)
- Australia (11.5K units)
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In December 2022, the truck price amounted to $33,635 per unit (CIF, US), growing by 3.4% against the previous month.
After a deep drop in 2020, U.S. truck imports picked up 19% to $29.7B in 2021. In physical terms, supplies grew by 13% to 973K units.
The revenue of the truck market in the U.S. amounted to $46.8B in 2018, picking up by 9.5% against the previous year....
Explore the top import markets for trucks in 2023, including the United States, Canada, Germany, and more. Find out what drives the demand for trucks in these key countries.
Global truck imports stood at X tons in 2016, dropping by -X% against the previous year figure. Overall, truck imports continue to indicate a measured curtailment. The pace of growth appeared th...
Global truck imports stood at X tons in 2016, dropping by -X% against the previous year figure. Overall, truck imports continue to indicate a measured curtailment. The pace of growth appeared th...
In December 2022, the truck price amounted to $33,635 per unit (CIF, US), growing by 3.4% against the previous month.
After a deep drop in 2020, U.S. truck imports picked up 19% to $29.7B in 2021. In physical terms, supplies grew by 13% to 973K units.
The revenue of the truck market in the U.S. amounted to $46.8B in 2018, picking up by 9.5% against the previous year....
Explore the top import markets for trucks in 2023, including the United States, Canada, Germany, and more. Find out what drives the demand for trucks in these key countries.