For the first eight months of 2021, US and Canadian Class 8 natural gas truck retail sales rose 24% 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 28% 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 NG-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 June to August time period, with June experiencing a sizeable sequential gain and even more impressive year-over-year growth,” said Steve Tam, Vice President at ACT Research. He continued, “July natural gas Class 8 vehicle sales volumes suffered large declines, also reducing the ytd increase, while activity in August recovered, returning to solid short-term improvement, despite lagging the year-ago comparison by a small margin. Looking at the most recent month, sales spiked 68% month-over-month, but were 4% lower than the year-ago level.”
Tam 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, both existing and planned, but a continuing decline of total natural gas stations, particularly those planned for the future. 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.
ACT’s 66th Seminar is scheduled for February 22-24, 2022. Focused on the continuous evolution and advancement of autonomous and powertrain technologies in the transportation and commercial vehicle markets, OUTLOOK Seminar 66 will feature key industry leaders such as Bryan Bezold of Ford, Matt Hardin from Transplace, and Robert Brown of TuSimple. For information about OUTLOOK Seminar 66, as it becomes available, click here.
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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