$27.6bn
$X.Xbn
34,872
75
$X.Xbn
Truck and bus manufacturing remains a staple in the US economy, as transporting people and goods is paramount to a healthy economy. Even so, the pandemic hit truck and bus manufacturers hard as restrictions limited manufacturing capabilities, international trade and downstream demand. Stay-at-home measures also drastically cut the need for public transit and various private services, like leisure bus tours, rendering bus production unprofitable. Improving economic conditions following the pandemic improved growth prospects, but sky-high input costs and ballooning interest rates have remained major threats to profit and revenue expansion. Revenue has contracted at an expected CAGR of 7.5% to $26.8 billion through the current period, despite a 1.0% jump in 2024, where profit reached 4.2%.
Industry revenue has declined at a CAGR of 7.0 % over the past five years, to reach an estimated $27.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Paccar Inc. | 7,536.4 | 993.6 | 13.2 | |
Daimler Ag | 6,851.8 | 146.7 | 2.1 | |
Ab Volvo | 6,092.9 | 659.4 | 10.8 |
To view the market share and analysis for all 14 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Heavy-duty trucks, Buses and Firefighting and other vehicles. Heavy-duty trucks is the largest segment of the Truck & Bus Manufacturing in the US.
Freight transportation drives demand for heavy-duty trucks
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.
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NAICS 33612 - Truck & Bus Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The pandemic and high inflation have curbed demand. Poor consumer and business sentiment have rippled through the supply chain, cutting demand for new trucks and buses.
Learn about an industry's products and services, markets and trends in international trade.
Heavy-duty trucks account for the bulk of revenue. These trucks play an integral role in the US economy, carrying the bulk of nationwide shipments despite airfreight and rail...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The most successful facilities are near ports. Buyers often rely on heavy-duty trucks to distribute imports from ports throughout the country.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Alternative shipping and transit options limit demand for trucks and buses. Rail infrastructure is often less comprehensive than highways, cementing the necessity of trucks a...
Learn about the performance of the top companies in the industry.
Many leading manufacturers double as automobile and light truck producers. Access to other segments within the company and brand recognition will help them succeed in this in...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Companies must meet increasingly strict environmental and safety regulations. Manufacturers must adhere to a wide range of EPA and NHTSA regulations.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Companies have endured climbing wage costs. Many manufacturers have invested in skilled labor to improve research and development teams and face periodic strikes from worker ...
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Truck & Bus Manufacturing in the US industry in United States is $27.6bn in 2024.
There are 75 businesses in the Truck & Bus Manufacturing in the US industry in United States, which has grown at a CAGR of 0.5 % between 2019 and 2024.
The market size of the Truck & Bus Manufacturing in the US industry in United States has been declining at a CAGR of 7.0 % between 2019 and 2024.
Over the next five years, the Truck & Bus Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Truck & Bus Manufacturing market in United States are Paccar Inc., Daimler Ag and Ab Volvo
Heavy-duty truck chassis and Complete heavy-duty trucks are part of the Truck & Bus Manufacturing in the US industry.
The company holding the most market share in United States is Paccar Inc..
The level of competition is moderate and increasing in the Truck & Bus Manufacturing in the US industry in United States.