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Commercial Vehicle Industry In The Us

658 Words3 Pages

The US commercial vehicle market is expected to grow at a CAGR of 5.9% until 2020.
In the US, there will be approximately 143.389 million commercial vehicles in operation by the end of 2017.
Commercial vehicle industry growth in the US is due to expected increase in consumer demand, technological advancements, and growth in related industries.
Overview

INTRODUCTION

Hello! Thanks for your question about the growth of commercial vehicle ownership in the US. The short version is that in 2015 there will be about 143.389 million commercial vehicles in operation in the US at the end of 2017 and the US market is expected to grow at a CAGR of 5.9% until 2020. This growth is driven by technological shifts and increased consumer and business demand. …show more content…

I will first find and compile all the relevant data from those sources. Then, I will outline all assumptions made and triangulate the estimated growth rate and figures in this market. Finally, I will explore relevant trends with regard to the US and global commercial vehicle markets.

RESULTS

I have found the number of commercial vehicles in use in the US in 2005 to be around 104.788 million. That figure has grown to about 141.872 million in 2015. The total US commercial vehicle registrations is just over 500,000 in 2016. Therefore, there is an estimated 142.372 million commercial vehicles in operation in 2016. In the 12 months ending September 2017, there were about 1.017 million commercial vehicles sold. This figure will be used as a proxy for 2017 total sales, resulting in a total estimated 143.389 million commercial vehicles at the end of 2017.

The estimated CAGR of commercial vehicle sales in the US is estimated at around 5.9%. Given this estimate, the projected sales of commercial vehicles in 2020 is about 170.296 million in the …show more content…

This is due to expected increase in demand for goods, driven by a rise in business and household spending. Increased transportation infrastructure spending can be attributed to economic growth, and will likely drive industry growth. Further growth can be attributed to the "incorporation of telematics and communication capabilities in commercial vehicles." The growth of the food and beverage industry in the next 7 years will also be another growth driver. Furthermore, this growth is supported by a growth in "end-use industries such as construction and

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