Analysts Forecast Higher Trailer Build in 2023 and 2024

ACT Research reports the economy continuing to outperform expectations, higher GDP and freight forecasts, and more normalized supply chains

According to this quarter’s issue of ACT Research’s Trailer Components & Raw Materials Forecast, ACT’s US trailer forecasts for 2023 increased during the past three months. The 2024 forecast is now higher, reflecting higher build in 2023 and 2024, with the economy continuing to outperform expectations, higher GDP and freight forecasts, and more normalized supply chains.

“Build in the last three months (May-July) of 81,700 units was 7% higher than the same three-month period last year, while net orders of 26,300 trailers were about 58% lower for the May-to-July-2023 period, versus the same three months in 2022,” said Jennifer McNealy, Director-CV Market Research & Publications at ACT Research. “Providing better context for market activity, order backlogs at 157,300 units were 15% lower than the 184,900 units pending production last year.”

McNealy concluded, “As part of our recent trailer-maker survey, we asked about 2024 orderbook openings and dealer inventory levels. Based on their responses, it appears that about 35% of the industry’s Q1’24 books have opened, with limited slots available beyond that. Regarding dealer inventories, answers were product dependent, with generalist trailer levels higher than specialty trailer inventory levels.”

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