U.S.: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in the U.S.

In 2022, the U.S. trailer and semi-trailer market increased by 3.9% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +18.3% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Trailer And Semi-Trailer Production in the U.S.

In value terms, trailer and semi-trailer production declined modestly to $X in 2022. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 16% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Trailer And Semi-Trailer Exports

Exports from the U.S.

In 2022, shipments abroad of cargo trailers and semi-trailers increased by 20% to X units, rising for the second consecutive year after three years of decline. In general, exports, however, saw a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 30%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, trailer and semi-trailer exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X units) was the main destination for trailer and semi-trailer exports from the United States, with a 79% share of total exports. Moreover, trailer and semi-trailer exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-1.1% per year) and Chile (-25.4% per year).

In value terms, Canada ($X) remains the key foreign market for cargo trailers and semi-trailers exports from the United States, comprising 77% of total exports. The second position in the ranking was held by Mexico ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+7.2% per year) and Chile (-13.3% per year).

Export Prices by Country

The average trailer and semi-trailer export price stood at $X per unit in 2022, rising by 16% against the previous year. In general, the export price showed a buoyant expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 25%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Trailer And Semi-Trailer Imports

Imports into the U.S.

In 2022, purchases abroad of cargo trailers and semi-trailers increased by 38% to X units, rising for the second consecutive year after two years of decline. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 41% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, trailer and semi-trailer imports soared to $X in 2022. Overall, imports enjoyed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X units), China (X units) and Greece (X units) were the main suppliers of trailer and semi-trailer imports to the United States, with a combined 90% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +10.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of cargo trailers and semi-trailers to the United States, comprising 85% of total imports. The second position in the ranking was taken by Canada ($X), with a 9.1% share of total imports. It was followed by China, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value from Mexico amounted to +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+6.9% per year) and China (+0.9% per year).

Import Prices by Country

In 2022, the average trailer and semi-trailer import price amounted to $X per unit, with an increase of 14% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, trailer and semi-trailer import price increased by +15.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 22%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per unit), while the price for Greece ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+10.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform