Pick-Up Truck Market – Industry Analysis and Forecast (2023-2029) – by Truck Type, Propulsion Type, End User, and Region

Pick-Up Truck Market size was valued at US$ 185.56 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 3.9% through 2023 to 2029, reaching nearly US$ 242.55 Bn.

Pick-Up Truck Market Characteristics:

Ford Motor Company is an American multinational automobile manufacturer headquartered in Dearborn, Michigan. The Ford brand sells automobiles and commercial vehicles, whereas the Lincoln luxury brand sells luxury cars. The revenue of Ford Motor Company was US$ 127.144 billion in 2022. Ford Motor Company sold 270,099 pick-up trucks in 2022. For the 2022 model year, Ford completely redesigned the F-150, adding plenty of new features aimed at improving the lives of the brand's target customers. The new F-150 Raptor was launched in February and will go on sale later in 2022. The F-150 Tremor debuted in late 2022. There's a Raptor R on the way. Pickup truck market segment volume weighted average price was US$ 10,741 in 2022. From an international perspective, the United States is expected to generate the most revenue (US$66,187 million in 2022). In 2029, unit sales of pickup trucks are expected to reach 22.4 thousand vehicles. Pick-Up Truck Market To know about the Research Methodology :- Request Free Sample Report

Pick-Up Truck Market Overview:

Pick-Up trucks are getting popular due to their cargo-carrying capacity and passenger-carrying capacity along with cargo. Although the pick-up truck gives more trunk capacity this makes it possible to use in a commercial and non-commercial application. US segment is showing growth in the pick-up truck market. Pick Up truck getting more popular in the US. Pick Up trucks are getting more fuel-efficient, as well as manufacturers, are trying to produce lighter weight pickup trucks. This is the factor making pick-up truck more popular and will fuel the market of a pick-up truck. Technological improvements are making components lighter in weight and option to steel parts making pickup trucks lighter and fuel-efficient. These factors will drive the pickup truck market.

COVID-19 Influence on the market:

The COVID-19 pandemic is causing damage on the global pick-up truck market. Due to the government's lockdown to prevent the spread of the disease, the automobile and commercial vehicle industry have been negatively impacted. The coronavirus has infected a number of countries, including the United States, the United Kingdom, China, Germany, France, India, Italy, and a number of other countries that manufacture automobiles and commercial vehicles. As a result, the Covid-19 pandemic has hampered the global Pick-Up Truck market's growth. The crippled economy, on the other hand, is being revived by a collective effort from the government and industry, and is expected to recover in the coming years. The report provides more information about each region's influence, allowing users to plan their actions and take significant steps toward recovery after the pandemic.

Pick-Up Truck Market Dynamics:

The growing demand for enhanced comfort and multi-purpose utility vehicles among the population, an increasing popularity of online retail platforms, rules and requirements enforced on pickup trucks regarding fuel economic system are less compared to the rules enforced on other massive passenger vehicles are the major key factors that drives the growth of the global market during the forecast period. These are the key benefits that drives the growth of the global market during the forecast period. Moreover, an increasing need for light-duty transportation solutions in numerous industries and commercial sectors is expected to boost the growth of the global pick-up truck market. Government laws and regulations on emission control are becoming more stringent, and fuel prices are growing, and there are a limited number of pickup truck models on the market in comparison to passenger vehicles are the major factor which is expected to hamper the growth of the Global Pick-Up Truck market during the forecast period.

Segment Analysis:

The Pick-Up Truck Market is segmented by Truck Type, Propulsion Type, End-User, Transmission type and Cabin Type. Based on the Truck Type, the market is segmented into Small, Medium, and Full Size. Medium truck type segment is expected to grow rapidly at a CAGR of 3.9% during the forecast period 2022-2029. Due to its versatility, medium pickup trucks are popular all over the world. These pickup trucks have a lot of power, which makes them excellent for a variety of situations. Furthermore, medium pickup trucks are available in a variety of price ranges. As a result, they are widely used in both emerging and developed economies. These are the key factor that drives the growth of the medium truck type segment in the global market during the forecast period. Based on the Propulsion Type, the market is segmented into Diesel, Petrol, Hybrid, and Electric. Diesel segment is expected to hold the largest market shares of 3.9% by 2029. Diesel engine offers plenty of benefits such as better fuel economy, lower taxes, lower maintenance, lower fire hazard, and greater torque. When compared to other types of engines, diesel engines provide more torque. As a result, they are widely used by customers for commercial purposes. Diesel engines generate excellent mileage. They often get 25 to 30 percent higher fuel economy than gasoline engines with equivalent performance. Diesel fuel is one of the most energy-dense and efficient fuels on the market today. It provides superior fuel economy than gasoline because it contains more useable energy. These are the key benefits that drives the growth of the Diesel segment in the global market during the forecast period. Petrol type systems are widely used in a medium type pick-up truck. North America and GCC countries have a major market for the petrol type. Petrol type propulsion pick-up trucks are popular in these regions. In comparison to diesel fuel, there is a huge amount of petrol available all over the world. Moreover, as compared to diesel, petrol is considered a pure fuel. Due to the government's strict emission control and green mobility rules, the hybrid and electric segments are expected to grow at a rapid pace. Based on the End User, the market is segmented into Medium Commercial Vehicles, Heavy Duty Commercial Vehicles, and Light Duty Commercial Vehicles. Heavy Duty Commercial Vehicles segment is expected to grow rapidly at a CAGR of 5.35% during the forecast period 2022-2029. Vehicles with a gross vehicle weight rating larger than 16 metric ton, such as heavy trucks and buses, are classified as heavy-duty commercial vehicles (HCV). Vehicle performance is expected to increase as demand for smaller engines grows, as does the trend toward multi-axle vehicles. The market for heavy-duty commercial electric vehicles, which is driven by logistics and advances in the construction and e-commerce industries, is expected to grow significantly in the forecast period, with excellent potential in the infrastructure, logistics, and transportation sectors. These are the major key factors of the Heavy Duty Commercial Vehicles segment that drives the growth of the global market during the forecast period.

Regional Insights:

North America dominates the Global Market during the forecast period 2022-2029. North America is expected to hold the largest market shares of 3.9% by 2029. In North America countries, pick-up trucks are mostly utilised for transportation. During the forecast period, their rising adoption rate in the region is expected to boost market growth. The well-established commercial sector in North America's developed countries is expected to drive demand for pickup trucks. Pickup trucks are rare in Europe and China, but they have a long history in the United States and play a significant role in the passenger car market. Third-party manufacturers first built them as additions to the Ford Model T and Ford Model TT, but companies like Dodge and Chevrolet quickly followed suit. Due to a rise in vehicle affordability among customers and the shift of individuals into the middle and upper middle income levels, the global pickup truck market is expected to grow during the forecast period. For example, following a global slowdown in the automobile industry, numerous countries have lowered automobile tariffs to boost vehicle sales. As a result, sales of vehicles increased in North America region in the second half of 2022.These are the major key factors that drives the growth of the North America region in the global market in the forecast period. The objective of the report is to present a comprehensive analysis of the Global Pick-Up Truck Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also helps in understanding the Global Pick-Up Truck Market dynamic, structure by analyzing the market segments and project the Global Pick-Up Truck Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Pick-Up Truck Market make the report investor’s guide.

Pick-Up Truck Market Scope: Inquire before buying

Global Pick-Up Truck Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 185.56 Bn.
Forecast Period 2023 to 2029 CAGR: 3.9% Market Size in 2029: US $ 242.55 Bn.
Segments Covered: by Truck Type Small Medium Full Size
by Propulsion Type Diesel Petrol Hybrid Electric
by End-User Medium Commercial Vehicles Heavy Duty Commercial Vehicles Light Duty Commercial Vehicles
by Transmission Type Automatic Manual

5 Speed AT/MT 10 Speed AT o 6 Speed MT

by Cabin Type Single Double Crew Extended

Pick-Up Truck Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)

Pick-Up Truck Market Key Players are:

1. Ford Motor Company 2. FAW Group 3. Fiat Chrysler Automobile 4. General Motor Company Great Wall Motors 5. Honda Motor Company, Ltd. 6. Isuzu Motors Ltd. 7. Mahindra & Mahindra Ltd. 8. Mercedes Benz 9. Foton Motor 10. Mitsubishi Motors Corporation 11. Nissan Motor Co., Ltd. 12. Tata Motors 13. Toyota Motor Corporation Volkswagen AG 14. ZXAUTO 15. Ashok Leyland 16. Others

Frequently Asked Questions:

1] What segments are covered in Pick-Up Truck Market report? Ans. The segments covered in Pick-Up Truck Market report are based on Truck Type, Propulsion Type, End-User, Transmission Type and Cabin Type. 2] Which region is expected to hold the highest share in the Global Pick-Up Truck Market? Ans. North America is expected to hold the highest share in the Global Pick-Up Truck Market. 3] Who are the top key players in the Global Pick-Up Truck Market? Ans. Ford Motor Company, FAW Group, Fiat Chrysler Automobile, General Motor Company, Great Wall Motors, Honda Motor Company, Ltd., Isuzu Motors Ltd., Mahindra & Mahindra Ltd., Mercedes Benz are the top key players in the Global Pick-Up Truck Market. 4] Which segment holds the largest market share in the Global Pick-Up Truck market by 2029? Ans. Diesel engines segment hold the largest market share in the Global Pick-Up Truck market by 2029. 5] What is the market size of the Global Pick-Up Truck market by 2029? Ans. The market size of the Global Pick-Up Truck market is US $ 242.55 Bn. by 2029. 6] What was the market size of the Global Pick-Up Truck market in 2022? Ans. The market size of the Global Pick-Up Truck market was worth US $ 185.56 Bn. in 2022. 7] Which company hold the highest share in the Global Pick-Up Truck Market? Ans. Ford Motor Company hold the highest share in the Global Pick-Up Truck Market. 8] Which Company sold most pick-up trucks in 2022? Ans. Ford Motor Company sold 270,099 pick-up trucks in 2022.
1. Global Pick-Up Truck Market: Research Methodology 2. Global Pick-Up Truck Market: Executive Summary 3. Global Pick-Up Truck Market: Competitive Landscape 3.1. MMR Competition Matrix 3.2. Competitive Landscape 3.3. Key Players Benchmarking 3.4. Global Market Key Player Ranking Analysis 3.5. Market Structure 3.5.1. Market Leaders 3.5.2. Market Followers 3.5.3. Emerging Players 3.6. Consolidation of the Market 4. Global Pick-Up Truck Market: Dynamics 4.1. Market Trends by Region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 4.2. Market Drivers by Region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 4.3. Market Restraints 4.4. Market Opportunities 4.5. Market Challenges 4.6. PORTER’s Five Forces Analysis 4.7. PESTLE Analysis 4.8. Value Chain Analysis 4.9. Regulatory Landscape by Region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 4.10. COVID-19 Impact on the Market 5. Global Pick-Up Truck Market Segmentation (by Value and Volume) 5.1. Global Pick-Up Truck Market, by Truck Type (2022-2029) • Small • Medium • Full Size 5.2. Global Pick-Up Truck Market, Propulsion Type (2022-2029) • Diesel • Petrol • Hybrid • Electric 5.3. Global Pick-Up Truck Market, End-User (2022-2029) • Medium Commercial Vehicles • Heavy Duty Commercial Vehicles • Light Duty Commercial Vehicles 5.4. Global Pick-Up Truck Market, Transmission Type (2022-2029) • Automatic • Manual 5.5. Global Pick-Up Truck Market, Cabin Type (2022-2029) • Single • Double • Crew • Extended 5.6. Global Pick-Up Truck Market, by Region (2022-2029) • North America • Europe • Asia Pacific • Middle East & Africa • South America 6. North America Pick-Up Truck Market Segmentation (by Value and Volume) 6.1. North America Pick-Up Truck Market, by Truck Type (2022-2029) • Small • Medium • Full Size 6.2. North America Pick-Up Truck Market, Propulsion Type (2022-2029) • Diesel • Petrol • Hybrid • Electric 6.3. North America Pick-Up Truck Market, End-User (2022-2029) • Medium Commercial Vehicles • Heavy Duty Commercial Vehicles • Light Duty Commercial Vehicles 6.4. North America Pick-Up Truck Market, Transmission Type (2022-2029) • Automatic • Manual 6.5. North America Pick-Up Truck Market, Cabin Type (2022-2029) • Single • Double • Crew • Extended 6.6. North America Pick-Up Truck Market, by Country (2022-2029) • United States • Canada • Mexico 7. Europe Pick-Up Truck Market Segmentation (by Value and Volume) 7.1. Europe Pick-Up Truck Market, by Truck Type (2022-2029) 7.2. Europe Pick-Up Truck Market, Propulsion Type (2022-2029) 7.3. Europe Pick-Up Truck Market, End-User (2022-2029) 7.4. Europe Pick-Up Truck Market, Transmission Type (2022-2029) 7.5. Europe Pick-Up Truck Market, Cabin Type (2022-2029) 7.6. Europe Pick-Up Truck Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe 8. Asia Pacific Pick-Up Truck Market (2022-2029) 8.1. Asia Pacific Pick-Up Truck Market, by Truck Type (2022-2029) 8.2. Asia Pacific Pick-Up Truck Market, Propulsion Type (2022-2029) 8.3. Asia Pacific Pick-Up Truck Market, End-User (2022-2029) 8.4. Asia Pacific Pick-Up Truck Market, Transmission Type (2022-2029) 8.5. Asia Pacific Pick-Up Truck Market, Cabin Type (2022-2029) 8.6. Asia Pacific Pick-Up Truck Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • Indonesia • Malaysia • Vietnam • Taiwan • Bangladesh • Pakistan • Rest of APAC 9. Middle East and Africa Pick-Up Truck Market Segmentation (by Value and Volume) 9.1. Middle East and Africa Pick-Up Truck Market, by Truck Type (2022-2029) 9.2. Middle East and Africa Pick-Up Truck Market, Propulsion Type (2022-2029) 9.3. Middle East and Africa Pick-Up Truck Market, End-User (2022-2029) 9.4. Middle East and Africa Pick-Up Truck Market, Transmission Type (2022-2029) 9.5. Middle East and Africa Pick-Up Truck Market, Cabin Type (2022-2029) 9.6. Middle East and Africa Pick-Up Truck Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest of ME&A 10. South America Pick-Up Truck Market Segmentation (by Value and Volume) 10.1. South America Pick-Up Truck Market, by Truck Type (2022-2029) 10.2. South America Pick-Up Truck Market, Propulsion Type (2022-2029) 10.3. South America Pick-Up Truck Market, End-User (2022-2029) 10.4. South America Pick-Up Truck Market, Transmission Type (2022-2029) 10.5. South America Pick-Up Truck Market, Cabin Type (2022-2029) 10.6. South America Pick-Up Truck Market, by Country (2022-2029) • Brazil • Argentina • Rest of South America 11. Company Profile: Key players 11.1. Ford Motor Company 11.1.1. Company Overview 11.1.2. Financial Overview 11.1.3. Business Portfolio 11.1.4. SWOT Analysis 11.1.5. Business Strategy 11.1.6. Recent Developments 11.2. FAW Group 11.3. Fiat Chrysler Automobile 11.4. General Motor Company Great Wall Motors 11.5. Honda Motor Company, Ltd. 11.6. Isuzu Motors Ltd. 11.7. Mahindra & Mahindra Ltd. 11.8. Mercedes Benz 11.9. Foton Motor 11.10. Mitsubishi Motors Corporation 11.11. Nissan Motor Co., Ltd. 11.12. Tata Motors 11.13. Toyota Motor Corporation Volkswagen AG 11.14. ZXAUTO 11.15. Ashok Leyland 12. Key Findings 13. Industry Recommendation
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