Truck Dealers in the US - Industry Market Research Report

Truck Dealers in the US - Industry Market Research Report

Truck Dealers in the US

Truck dealers have endured challenges in recent years. Dealers sell trucks to all types of industries for in-house use, but the largest customer is the trucking industry itself. Freight trucking companies offer transportation services on a for-hire basis. Both of these types of sales are tied directly to the performance of the overall economy, as an increase in business activity necessitates greater transportation services. The outbreak of COVID-19 brought the world economy to a screeching halt, taking truck dealers down with it as businesses across the globe cut back. When pandemic-related restrictions were lifted, the prices of key commodities skyrocketed as supply lagged behind booming demand. The record-high price of crude oil dampened the growth caused by the general economic recovery. Altogether, industry revenue has been falling at a CAGR of 1.3% to $118.6 billion over the past five years, despite a forecasted increase of 0.8% in 2023.

The Truck Dealers industry comprises operators that sell medium- and heavy-duty commercial trucks. In addition to new truck sales, many companies offer a wide variety of used trucks and new truck parts. Many dealers also provide truck repair services. This industry does not include light truck or sport utility vehicle (SUV) dealers.

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.