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2024 U.S. Industry Statistics & Market Forecast - Heavy Duty Truck Manufacturing


Market Size & Industry Statistics

The total U.S. industry market size for Heavy Duty Truck Manufacturing: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The Truck & Bus Manufacturing industry is experiencing several key trends that are affecting its growth and development. The increasing demand for electric and hybrid vehicles is an important trend in the industry. With the growing concerns over climate change and the need to reduce carbon emissions, manufacturers are focusing on developing more efficient and eco-friendly vehicles. Accordingly, the utilization of alternative fuels such as propane, natural gas, and biofuels is on the rise.

Another trend is the increasing adoption of advanced safety features, including automated driving technologies, which are designed to reduce accidents and fatalities on the road. The advancement of these technologies requires advanced sensors and software for monitoring, communication, and control. Manufacturers are thus investing heavily in research and development to stay ahead of the competition.

Moreover, the trend towards autonomous driving technology is growing rapidly, as companies aim to reduce their reliance on human drivers, improve safety and reduce the cost of transportation. This advancement is utilising advanced sensors, software, AI and machine learning - all with the capability of analysing vast amounts of data in real-time.

Lastly, globalization is another trend in the industry, as manufacturers strive to expand their production, distribution, and sales channels globally. As a result, the market is becoming more competitive, with Indian and Chinese manufacturers making significant progress in the industry. It is essential for manufacturers to keep abreast of these changes in the competitive landscape and focus on innovation and new technologies to stay ahead.



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Heavy Duty Truck Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Heavy Duty Truck Manufacturing industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Heavy Duty Truck Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 4%

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Chief Executives0%
General and Operations Managers0%
Architecture and Engineering Occupations 5%
Production Occupations 72%
Assemblers and Fabricators 60%
Miscellaneous Assemblers and Fabricators 59%
Metal Workers and Plastic Workers 5%
Source: Bureau of Labor Statistics


Heavy Duty Truck Manufacturing Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Heavy Duty Truck Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Heavy Duty Truck Manufacturing industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Heavy Duty Truck Manufacturing industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Heavy Duty Truck Manufacturing

  • Feb 27, 2024: FLEETSIDE FORD, LLC. (Osceola, IA) awarded $94,708
  • Feb 26, 2024: HOUSTON FREIGHTLINER, INC. (Houston, TX) awarded $134,781
  • Feb 26, 2024: FERRARA FIRE APPARATUS, INC., (Holden, LA) awarded $530,693
  • Feb 26, 2024: NAVISTAR, INC. (Knoxville, TN) awarded $197,328
  • Feb 21, 2024: MACK DEFENSE, LLC (Allentown, PA) awarded $231,146
  • Feb 16, 2024: CENTRAL KENWORTH LLC (Hyattsville, MD) awarded $579,564




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