ACT Research: US Trailer Industry Committed Nearly Through 2023
Trailer OEMs and major component suppliers continue to indicate strong demand and lingering supply-chain constraints. Despite OEMs expanding availability, 2023 is not yet fully open across the industry, partially because manufacturers continue to face volatile commodity costs, long lead times for some input components, and improved but still challenged labor considerations, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailers report.
“Seasonally adjusted, the backlog-to-build ratio rose 100 basis points m/m, to 8.3 months, with weaker build in a seasonally strong month, from 7.3 months in February,” said Jennifer McNealy, Director–CV Market Research & Publications at ACT Research. “Seasonal adjustment takes dry van BL/BU to 8.3 months and reefers to 10.7, so either way one looks at it, with or without seasonal adjustment, this essentially commits the industry very deep into 2023.”
McNealy added, “Evidencing the concerns about supply-chain constraints, March’s build per day declined 3% to 1,318 units per day, from February’s 1,359. That said, overall build rose 14% m/m due to three more build days in March than February, a 14% increase. Production growth continues its upswing, and our projections point to a continuation of that trend.”
ACT Research’s State of the Industry: U.S. Trailers report provides a monthly review of the current US trailer market statistics, as well as trailer OEM build plans and market indicators divided by all major trailer types, including backlogs, build, inventory, new orders, cancellations, net orders, and factory shipments. It is accompanied by a database that gives historical information from 1996 to the present, as well as a ready-to-use graph packet, to allow organizations in the trailer production supply chain, and those following the investment value of trailers, trailer OEMs, and suppliers to better understand the market.
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis, and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.