Truck & Bus Manufacturing in the US - Industry Market Research Report
Description
Truck & Bus Manufacturing in the US
Truck and bus manufacturing remains a staple in the US economy, as transporting people and goods is paramount to a healthy economy. This has been particularly true in recent years, as there is increased demand for goods to be shipped across the country due to the rise of e-commerce. The pandemic hit truck and bus manufacturers hard as restrictions limited manufacturing capabilities, international trade and downstream demand. International trade is an essential component of this industry, since much demand for freight trucking comes from transporting goods from ports across the country. This was halted due to trade restrictions put in place to combat COVID-19. Stay-at-home measures also drastically cut the need for public transit, rendering the production of buses unprofitable. Improving economic conditions following the end of these measures caused manufacturers to grow quickly, but more was needed to offset declines. Although sky-high input costs significantly pressured profit, steady growth and stabilizing costs following COVID allowed profit to recover. Through the end of 2023, revenue has fallen at a CAGR of 5.1% to $30.0 billion, despite a 0.2% increase in 2023 alone.
Companies in this industry manufacture truck and bus chassis and assemble trucks, buses and other specialty heavy-duty vehicles, including ambulances and firefighting trucks. This industry includes heavy trucks used by freight companies but excludes passenger vehicles.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Truck and bus manufacturing remains a staple in the US economy, as transporting people and goods is paramount to a healthy economy. This has been particularly true in recent years, as there is increased demand for goods to be shipped across the country due to the rise of e-commerce. The pandemic hit truck and bus manufacturers hard as restrictions limited manufacturing capabilities, international trade and downstream demand. International trade is an essential component of this industry, since much demand for freight trucking comes from transporting goods from ports across the country. This was halted due to trade restrictions put in place to combat COVID-19. Stay-at-home measures also drastically cut the need for public transit, rendering the production of buses unprofitable. Improving economic conditions following the end of these measures caused manufacturers to grow quickly, but more was needed to offset declines. Although sky-high input costs significantly pressured profit, steady growth and stabilizing costs following COVID allowed profit to recover. Through the end of 2023, revenue has fallen at a CAGR of 5.1% to $30.0 billion, despite a 0.2% increase in 2023 alone.
Companies in this industry manufacture truck and bus chassis and assemble trucks, buses and other specialty heavy-duty vehicles, including ambulances and firefighting trucks. This industry includes heavy trucks used by freight companies but excludes passenger vehicles.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
54 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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