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Global Pickup Trucks Market Size, Share, Demand, Trends: By Fuel Type: Diesel, Petrol, Electric, Other; By Truck Type: Heavy Duty, Light Duty; By Technology: Connected, Not Connected; By Application: Commercial, Personal; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Pickup Trucks Market Outlook
The global pickup trucks market size reached a value of approximately USD 181.09 billion in 2023. The market is further projected to grow at a CAGR of 3.60% between 2024 and 2032, reaching a value of USD 248.96 billion by 2032.
Key Trends in the Market
Pickup truck is a non-passenger light-duty vehicle that has an enclosed compartment with an open body at the back that is used for carrying goods from one location to another. They are designed to ensure easy loading and unloading of the cargo.
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- Rise of freight and the growth of transportation businesses have enhanced the pickup trucks market demand. This increase in demand can be attributed to the ability of pickup trucks to tackle any terrain and carry heavy loads including vehicles, and vessels, among other products, without getting damaged.
- Growing popularity of outdoor activities such as camping drives and boating along with rising popularity of online shopping are together boosting the requirement for fuel-efficient vehicles such as pickup trucks.
- Technological advancements such as automatic transmission, improved connectivity, introduction of mirror-mounted cameras, and electrification of vehicles are attracting several consumers towards such vehicles, thus increasing the utilisation of pickup trucks and fuelling the pickup trucks market expansion.
Market Analysis
Based on fuel type, the market is segmented into diesel, petrol, and electric, among others. On the basis of truck type, the market is divided into heavy duty and light duty. By technology, the market is categorised into connected and not connected. Based on application, the market is bifurcated into commercial and personal. On the basis of region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global pickup trucks market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Ford Motor Company
- General Motors
- Toyota Motor Corporation
- FCA US, LLC
- Nissan Motor Co. Ltd
- Honda Motor Co., Ltd
- Renault Group
- Mahindra & Mahindra Ltd.
- Isuzu Motors Ltd.
- Mitsubishi Motors Corporation
- Others
Market Share by Fuel Type
The diesel segment accounted for a large market share due to the rising demand for diesel trucks owing to their ability to produce high torque value. The production of more torque makes it easier to pull or handle large amounts of weight, thereby increasing the efficiency of the vehicle. The high compression ratio helps the diesel to self-ignite without spark plugs, which in turn, is propelling its usage for commercial purposes. Moreover, the temperature consistency maintained by diesel promotes superior fuel economy.
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Market Share by Region
North America accounted for a large portion of the pickup trucks market share and is expected to grow rapidly over the forecast period. The presence of leading manufacturers such as Ford Motor Company and General Motors, among others, is supporting the growth of the market in North America. Developed economy, presence of laws related to truck regulations, and high disposable incomes of individuals in the United States are further boosting the utilisation of pickup trucks in the region.
Competitive Landscape
Ford Motor Company was founded in 1903 and is headquartered in Michigan, United States. The company sells commercial vehicles, automobiles, and luxury cars to consumers around the globe.
General Motors is a multinational automotive manufacturing company that was founded in 1908. The company is headquartered in Michigan, United States and is known for providing automotive components, and automobiles and trucks, among others.
Toyota Motor Corporation was established in 1937 and has its headquarters located in Aichi, Japan. The company manufactures vehicles such as trucks, SUVs, minivans, cars, and hybrids.
Other players in the pickup trucks market include FCA US, LLC, Nissan Motor Co. Ltd, Honda Motor Co., Ltd, Renault Group, Mahindra & Mahindra Ltd., Isuzu Motors Ltd., and Mitsubishi Motors Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Fuel Type |
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| Breakup by Truck Type |
|
| Breakup by Technology |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Pickup Trucks Market Analysis
8.1 Key Industry Highlights
8.2 Global Pickup Trucks Historical Market (2018-2023)
8.3 Global Pickup Trucks Market Forecast (2024-2032)
8.4 Global Pickup Trucks Market by Fuel Type
8.4.1 Diesel
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Petrol
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Electric
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Other
8.5 Global Pickup Trucks Market by Truck Type
8.5.1 Heavy Duty
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Light Duty
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Pickup Trucks Market by Technology
8.6.1 Connected
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Not Connected
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Pickup Trucks Market by Application
8.7.1 Commercial
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Personal
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Pickup Trucks Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Pickup Trucks Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Pickup Trucks Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Pickup Trucks Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Pickup Trucks Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Pickup Trucks Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Ford Motor Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 General Motors
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Toyota Motor Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 FCA US, LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Nissan Motor Co. Ltd
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Honda Motor Co., Ltd
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Renault Group
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Mahindra & Mahindra Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Isuzu Motors Ltd.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Mitsubishi Motors Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Other
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Pickup Trucks Market: Key Industry Highlights, 2018 and 2032
2. Global Pickup Trucks Historical Market: Breakup by Fuel Type (USD Billion), 2018-2023
3. Global Pickup Trucks Market Forecast: Breakup by Fuel Type (USD Billion), 2024-2032
4. Global Pickup Trucks Historical Market: Breakup by Truck Type (USD Billion), 2018-2023
5. Global Pickup Trucks Market Forecast: Breakup by Truck Type (USD Billion), 2024-2032
6. Global Pickup Trucks Historical Market: Breakup by Technology (USD Billion), 2018-2023
7. Global Pickup Trucks Market Forecast: Breakup by Technology (USD Billion), 2024-2032
8. Global Pickup Trucks Historical Market: Breakup by Application (USD Billion), 2018-2023
9. Global Pickup Trucks Market Forecast: Breakup by Application (USD Billion), 2024-2032
10. Global Pickup Trucks Historical Market: Breakup by End User (USD Billion), 2018-2023
11. Global Pickup Trucks Market Forecast: Breakup by End User (USD Billion), 2024-2032
12. Global Pickup Trucks Historical Market: Breakup by Region (USD Billion), 2018-2023
13. Global Pickup Trucks Market Forecast: Breakup by Region (USD Billion), 2024-2032
14. North America Pickup Trucks Historical Market: Breakup by Country (USD Billion), 2018-2023
15. North America Pickup Trucks Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Europe Pickup Trucks Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Europe Pickup Trucks Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Asia Pacific Pickup Trucks Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Asia Pacific Pickup Trucks Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Latin America Pickup Trucks Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Latin America Pickup Trucks Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Middle East and Africa Pickup Trucks Historical Market: Breakup by Country (USD Billion), 2018-2023
23. Middle East and Africa Pickup Trucks Market Forecast: Breakup by Country (USD Billion), 2024-2032
24. Global Pickup Trucks Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 181.09 billion in 2023.
The market is projected to grow at a CAGR of 3.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 248.96 billion by 2032.
The major drivers of the market include rising popularity of online shopping, electrification of vehicles, and the ability of pickup trucks to tackle any terrain.
The key trends of the market include rise in freight business, growing popularity of outdoor activities, and technological advancements.
The significant fuel types available in the market include diesel, petrol, and electric, among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the market are Ford Motor Company, General Motors, Toyota Motor Corporation, FCA US, LLC, Nissan Motor Co. Ltd, Honda Motor Co., Ltd, Renault Group, Mahindra & Mahindra Ltd., Isuzu Motors Ltd., and Mitsubishi Motors Corporation, among others.
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