Heavy industries such as agriculture, mining, construction, and cargo transportation are reliant on heavy trucks in order to carry essential freight, as well as perform tasks such as cement mixing. In fact, the majority of freight in the U.S. is moved by truck. Heavy-duty truck sales are tied to productivity of other industries. U.S. transportation construction spending reached 55 billion U.S. dollars in 2019. If registration levels of class eight trucks grow as expected, this may be an indication of strong investments in other areas. If the U.S. is to continue increasing its cargo transportation, more 18-wheelers will be needed to be produced to meet demand.
The eight-class classification system of trucks in the U.S. categorizes vehicles by gross vehicle weight rating which can be used to set out specific safety and regulatory requirements of the vehicles. Heavy-duty trucks are in the upper most class, eight, which includes typical 18-wheelers and is expected to see a decline of roughly 7.5 percent from 2021 to 2022.