Market Research Report
Pickup Truck - Global Market Outlook (2020-2028)
|Pickup Truck - Global Market Outlook (2020-2028)|
Published: July 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
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.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.