Base Year
Historical Year
Forecast Year
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.
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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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.
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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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.
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.
| 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 |
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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