Supply chain issues, fuel costs will weigh on shipments in near term
CLEVELAND, aug. 3, 2022 /PRNewswire/ — Shipments of transport equipment from facilities in the US are forecast to rise 6.4% annually in nominal terms through 2026, according to Transport Equipment: United States, a report recently released by Freedomonia Focus Reports. In inflation-adjusted terms, shipments are projected to expand 4.1% per year through 2026. Gains will be driven by price growth and rising domestic demand for transport services. Climbing manufacturing activity and disposable personal income levels will boost demand for and shipments of freight and passenger transport. However, supply chain issues resulting from pandemic-induced disruptions will continue. Rising fuel costs are also driving up freight costs, thereby contributing to inflation in transport equipment prices.
Motor vehicle and parts shipments from facilities in the US, the dominant product segment, are forecast to rise 6.1% per year to 2026. Advances of 4.1% per year are expected in real terms. Following a sharp drop in motor vehicle and part shipments in 2020, shipments began to recover in 2021, but were restrained by a shortage of semiconductor devices. While the manufacturers shortage is expected to continue through 2022, they are already making strides toward securing more robust semiconductor device supply chains.
These and other key insights are featured in Transport Equipment: United States. This report forecasts to 2022 and 2026 US transport equipment shipments in nominal and real (inflation-adjusted) US dollars at the manufacturer level. Total shipments in nominal and real terms are segmented by product in terms of:
- motor vehicle
- other products such as motorcycles, military armored vehicles, and all-terrain vehicles
To illustrate historical trends, total shipments, the various segments, and trade are provided in annual series from 2011 to 2021.
Transport equipment includes products employed in the transportation of passengers and cargo by way of land, water, and air, as well as products designed for use in space and military operations. Parts are also included in the scope of this report. Re-exports are excluded from trade figures.
More information about the report is available at:
About Freedomonia 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 Services & Industries 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:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
SOURCE The Freedonia Group