Pickup Truck Market Forecasts to 2028 – Global Analysis By Truck Type, Propulsion Type, Transmission Type, Power Output, Application, Sales Channel, End User and By Geography
According to Stratistics MRC, the Global Pickup Truck Market is accounted for $16,556.00 million in 2020 and is expected to reach $22,832.91 million by 2028 growing at a CAGR of 4.1% during the forecast period. Increasing customer demand of fuel-efficient vehicles, rising urbanization and increasing popularity of online shopping are driving the market growth. However, strict regulations for recreational and commercial pickup trucks is hampering the growth of the market.
A pickup truck is a kind of a light-duty vehicle consisting of an open cargo area and an enclosed cab with a hatchback. It can either be compact or of full-size. Pickup trucks are usually used as good carriers, but they also find their usage in personal transport.
Based on the truck type, the medium size pickups segment is going to have lucrative growth during the forecast period. Medium pickup trucks are trendy worldwide for their versatility. These pickup trucks generate high power, which is suitable for various operating conditions. In addition to this, medium pickup trucks come with a flexible price range. Hence, they are highly adopted in emerging economies and developed countries.
By geography, North America is going to have high growth during the forecast period owing to large production of trucks and greater preference for pickup trucks in the region. The market is directly influenced by expansion of small- and medium-scale enterprises in the region.
Some of the key players profiled in the Pickup Truck Market include Ashok Leyland, FCA, Ford, Foton Motor, GM, Great Wall Motors, Isuzu, Jiangling Motors, Mahindra & Mahindra, Mitsubishi, Nissan, Tata Motors, Toyota, Volkswagen and ZXAUTO.
Estimated Market Size in 2020:
USD 16,556.00 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 22,832.91 million
Tables, Graphs& Figures
Truck Type, Propulsion Type, Transmission Type, Power Output, Application, Sales Channel, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Truck Types Covered:
• Small Size/Compact Pickups
• Medium Size Pickups
• Full Size Pickups
• Heavy-duty Pickups
Propulsion Types Covered:
• Internal Combustion Engine (ICE)
Transmission Types Covered:
• Automatic Transmission
• Semi-Automatic Transmission
• Manual Transmission
Power Outputs Covered:
• 250–400 HP
• 401–550 HP
• >550 HP
• Individual Use
• Commercial Use
Sales Channels Covered:
• Direct Channel
• Distribution Channel
End Users Covered:
• Fire Services
• Law Enforcement
• Passenger Transport
• Pickup Truck Racing
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Pickup Truck Market is majorly driven by increasing customer demand of fuel-efficient vehicles, rising urbanization and increasing popularity of online shopping.
The medium size pickups segment is growing at a highest CAGR owing to flexible price range which is the reason for being highly adopted among emerging countries.
North America dominated with a significant market share due to the factors such as large production of trucks and greater preference for pickup trucks in the region.
Europe market is growing at a highest CAGR owing to the large presence of automotive industry in Germany, UK and other European countries.
Key players in Pickup Truck Market include Ashok Leyland, FCA, Ford, Foton Motor, GM, Great Wall Motors, Isuzu, Jiangling Motors, Mahindra & Mahindra, Mitsubishi, Nissan, Tata Motors, Toyota, Volkswagen and ZXAUTO.
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