ACT Research: Class 8 Natural Gas Truck Retail Sales Gained 19% YTD through May 2021

For the first five months of 2021, US and Canadian Class 8 natural gas truck retail sales rose 19% year-to-date against a somewhat unfair comparison of the same time period in 2020, as published in the quarterly report (AFQ: Alternative Fuels Quarterly) recently released by ACT Research. For context, total US Class 8 sales were up 32% for the same period.

The ACT Alternative Fuels Quarterly (AFQ) provides insight, analysis, and trends about alternative fuel/power adoption for the US heavy and medium duty commercial vehicle markets. It is designed to give quick insights to anyone with an interest in the evolution of power and alternative fuel use for heavy vehicles. The AFQ details such adoption considerations as fuel prices, fuel/charging infrastructure development, equipment prices/products/technological developments, and regulatory changes. NG truck sales data and a forecast for new natural gas adoption are included.

“Sales of natural gas-powered vehicles as reported by the six major truck OEMs, who account for approximately 60% of the heavy-duty natural gas market, were mixed in the March to May 2021 time period, with March experiencing a sizeable sequential gain and even more impressive year-over-year growth,” said Steve Tam, Vice President at ACT Research. He continued, “Counter to COVID-influenced expectations, April natural gas vehicle sales volumes dropped month over month and year over year, also reducing the year-to-date increase. Activity in May appears to have shrugged off whatever afflicted April, returning to solid, across-the-board improvement, with sales jumping 23% sequentially and 206% higher than the year-ago level.”

Used 72821Tam added, “Besides sales, the Alternative Fuels Quarterly analyzes the change in existing and planned alternative fuel/power infrastructure and equipment developments. We’re seeing an overall increase in electric charging stations, but a continuing decline of total natural gas stations. That said, we continue to see articles about natural gas use in transportation, as well as discussions about hydrogen fuel cells and investments in electric commercial vehicle development, making trade-industry headlines.”

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.

What’s coming next in 2021 and 2022? ACT’s 65th OUTLOOK Seminar is the planning event for your business needs. Mark your calendar for August 24-26, 2021 to gain market updates and forecasts from ACT’s award-winning, veteran team with more than 200 years of combined industry experience. Click here for more details. 

ACT’s commercial electric vehicle study, Charging Forward: 2020-2024 BEV & FCEV Forecast & Analysis, was published on March 31, 2021, after months of extensive research. Utilizing industry expertise and analysis, as well as the input from a comprehensive list of key industry study participants, ACT Research has developed a critical guide for battery electric and fuel cell electric unit build and sales forecasts over the next two decades. With coverage of Classes 4-8 commercial vehicles, ACT has identified 14 market subsegments and more than 20 application types; this one-of-a-kind report is a must-have for those investing or investigating electric power opportunities. To learn more or to purchase this report, click here

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