Global Pickup Truck Market, By Truck Type (Small Size Pickups, Medium Size Pickups, Full Size Pickups), Propulsion Type (Diesel, Petrol, Hybrid, Electric), End User (Luxury Medium Commercial Vehicles, Heavy Duty Commercial Vehicles, Light Duty Commercial Vehicles), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa)Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Pickup Truck Market
Pickup truck market size is valued at USD 19,550.66 million by 2028 is expected to grow at a compound annual growth rate of 2.10% over the forecast period of 2021 to 2028. Data Bridge Market Research report on pickup truck market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
A pickup truck is a type of a light-duty vehicle which consists of an enclosed cab and an open cargo area with a hatchback. It can be either in compact or a full-size. Pickup trucks are generally used as good carriers, but they also find their application in personal transport.
The pickup truck market has a huge potential to grow over the forecast period of 2021 to 2028, due to the rapidly increasing penetration of smartphones and admittance to quick internet services has enhanced consumer preference toward online shopping, which largely requires pickup trucks to deliver products. In addition, increasing popularity of online shopping in countries is also largely influencing the growth of the pickup truck market. Also the increasing customer demand of fuel-efficient vehicles for outdoor activities such as boating and camping along with rising preference for pickup trucks over SUVs, is another driver flourishing the growth of pickup truck market, which in turn is raising the growth of the target market. Additionally, the rapid technological improvements are making components lighter in weight and selection to steel parts are making pickup trucks lighter and fuel-efficient which will also boost the growth of the pickup truck market in the above mentioned forecast period. Likewise, the increasing sales hub in addition as increase in consumption of products and services across the globe will also forward the product demand.
However, the strict regulations for recreational and commercial pickup trucks will act as major market restraints for pickup truck in the forecasted period of 2021 to 2028, whereas the lack of model options and low gas mileage have the potential to challenge the growth of the market.
In addition, the growing focus of the major vendors towards sinking the weight of their vehicles which will result in the introduction of more fuel-efficient trucks along with rapid urbanization will further offer various growth opportunities for the pickup truck market in the above mentioned forecast period.
This pickup truck market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on pickup truck market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Pickup Truck Market Scope and Market Size
Pickup truck market is segmented on the basis of truck type, propulsion type and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of truck type, the pickup truck market is segmented into small size pickups, medium size pickups and full size pickups.
- On the basis of propulsion type, the pickup truck market is segmented into diesel, petrol, hybrid and electric.
- The pickup truck market has also been segmented on the basis of end user into luxury medium commercial vehicles, heavy duty commercial vehicles and light duty commercial vehicles.
Pickup Truck Market Country Level Analysis
Pickup truck market is analyzed and market size, volume information is provided by country, truck type, propulsion type and end user as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the pickup truck market owing to the easy availability of a wide product portfolio, dropping gasoline costs as well as the popular culture of using pickup trucks for daily travel in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the increase in start-ups and preference by youngsters because of performance of trucks and luxury of the car in this particular region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Pickup Truck Market Share Analysis
Pickup truck market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to pickup truck market.
The major players covered in the pickup truck report are Ford Motor Company, Fiat Chrysler Automobiles, Chevrolet, Great Wall Motors, American Honda Motor Co., Inc., ISUZU MOTORS INDIA, Mahindra & Mahindra Ltd., Mercedes-Benz India Pvt. Ltd., Mitsubishi Motors Corporation, SSANGYONG MOTOR COMPANY, GMC Canyon, Mack Trucks, The Nissan Motor Company, Ltd., Tata Motors Limited, Piaggio & C. SpA., Force Motors Limited, ASHOK LEYLAND, MARUTI SUZUKI INDIA LIMITED, TOYOTA MOTOR CORPORATION and Volkswagen Commercial Vehicles among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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