Expanding Need for Freight Services, Fuel Efficiency Set to Drive MD/HD Truck & Bus Sales, Production to 2025

Semiconductor shortage expected to crimp levels through 2023

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Mar 03, 2022, 10:11 ET

CLEVELAND, March 3, 2022 /PRNewswire/ -- Global sales of medium- and heavy-duty (MD/HD) trucks and buses in unit terms are forecast to increase 4.2% yearly through 2025, according to Global Medium- & Heavy-Duty Trucks & Buses, a report recently released by Freedonia Focus Reports. Suppliers are expected to benefit from rising global manufacturing and construction activity, which will spur demand for truck freight services and associated MD/HD trucks. Ongoing technological developments in MD/HD trucks and buses (such as higher fuel efficiency levels) will drive replacement demand. While a number of companies already offer a wide range of electric buses, particularly for municipal and school transport applications, a major technological trend to 2025 is the expected increase in the number of electric truck models. However, further gains in unit sales will be limited by ongoing competition from alternative means of freight transport (e.g., railroads). In addition, demand for new vehicles will continue to be limited by the ability of fleet operators to overhaul rather than replace aging vehicles.

Global production of MD/HD vehicles is expected to grow 4.8% per annum in unit terms through 2025. Increasing global demand for MD/HD vehicles will support gains, as production levels track sales. Production fell in 2020 due to the disruption brought on by the COVID-19 pandemic and the accompanying semiconductor shortage. In 2021, production is expected to continue to fall as the semiconductor shortage continues. The shortage is expected to end by 2023. Through 2025, MD/HD vehicle producers will continue to establish factories in countries that feature strong or expanding domestic markets and prove advantageous for export shipments due to proximity and favorable trade agreements with other key countries.

These and other key insights are featured in Global Medium- & Heavy-Duty Trucks & Buses. This report forecasts to 2021 and 2025 global sales, production, and park for MD/HD trucks and buses by major global region in units. Regions include:

North America
Western Europe
Asia/Pacific
other regions, spanning Central and South America, Eastern Europe, and Africa/Mideast

In addition, for the three main regions, sales, production, and park by major country are forecast to 2021 and 2025.

To illustrate historical trends, global sales, production, and park by major region are provided from 2010 to 2020. For the three main regions, sales, production, and park by major country are provided from 2010 to 2020.

MD/HD trucks and buses are defined as vehicles in weight classes 4 through 8. MD/HD trucks include special-purpose vehicles (e.g., fire trucks, tow trucks, and garbage trucks) but do not include off-road agricultural, construction, and mining equipment or recreational vehicles.

More information about the report is available at:
https://www.freedoniafocusreports.com/Global-Medium-Heavy-Duty-Trucks-Buses-FW85014/?progid=91541

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including: