CLEVELAND, Sept. 11, 2019 /PRNewswire/ -- Shipments of transport equipment from facilities in the US are forecast to expand 2.6% per year in nominal terms through 2023, according to Transport Equipment: United States, a report recently released by Freedonia Focus Reports. In inflation-adjusted terms, shipments are projected to expand 1.2% annually. Advances will be driven by motor vehicle price growth, airline expansion in developing economies, and rising demand for freight and personal transport as manufacturing activity and consumer incomes climb.
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Rising shipments of motor vehicles and parts, the leading segment, will account for the bulk of value gains, largely reflecting price increases. Marine transport equipment shipments are projected to see the fastest gains in both value and volume terms. Replacement of an aging US fleet and the deployment of increasingly expensive ship technologies are expected to support advances.
These and other key insights are featured in Transport Equipment: United States. This report forecasts to 2023 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 product segments, and trade are provided in annual series from 2008 to 2018.
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.
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 Industrials 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
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SOURCE The Freedonia Group