Forecast: Heavy Duty Truck Sales in the US

The U.S. heavy-duty truck sales market has shown considerable fluctuations over the past decade. From 2013 to 2023, there were periods of growth and decline, reflecting both economic cycles and industry-specific factors. In 2023, the market stood at $32.1 billion, representing a modest 1.43% year-on-year growth, following a strong recovery in 2021 and 2022. Looking back, the CAGR from 2013 to 2023 suggests a trend of moderate positive growth despite occasional downturns.

Future trends to watch for:

• The forecasted period from 2024 to 2028 predicts a stable increase in heavy-duty truck sales, with an anticipated CAGR of 1.14%.
• Key factors include advancements in technology, regulatory changes pushing for greener options, and the ongoing recovery from economic disruptions.
• Market dynamics such as supply chain improvements and shifts towards electric heavy-duty trucks are pivotal.