The pick-up truck is a vehicle with open space to load or carry cargo. The pick-up truck is a light duty vehicle used to tow or carry cargo, or simply used as a passenger car. Pick-up trucks are employed by small enterprises and business owners to transport goods and for personal use, such as outdoor activities.

The global pick-up truck market is driven by Asia, which is emerging as a global sales hub. Rising consumption in developing countries is boosting the demand for goods transport, thereby driving the demand for pick-up trucks. Operation of heavy duty trucks is restricted in several cities and urban areas to avoid congestion. Consequently, pick-up trucks provide access to such locations and facilitate transport of goods. Rise in income has boosted the indulgence in outdoor activities, and pick-up trucks are being preferred for personal use in outdoor activities, such as camping and boating. Pick-up trucks offer the performance of a truck and the luxury of a car and hence, are preferred by young consumers.

The global pick-up truck market can be segmented based on truck size, ownership, fuel, and region. In terms of truck size, the pick-up truck market can be classified into compact pick-up truck, medium size pick-up truck, and full-size pick-up truck. The compact pick-up truck segment is estimated to gain market share, as these vehicle are more fuel-efficient, cost-effective, and easy to maneuver. Automakers, such as Hyundai, are expected to launch a compact pick-up, Santa Cruz, by 2020. Demand for this compact pick-up truck is likely to rise among consumers who prefer SUVs and can switch to a pick-up truck at same cost as that of a SUV. Full size pick-up trucks are being increasingly preferred globally due to their high payload carrying capacity. These pick-up trucks are utilized to carry passengers in Africa and ASEAN.

Based on ownership, the pick-up truck market can be divided into purchase and lease. The global pick-truck market is dominated by the purchase segment. Rising awareness about financial products, such as lease, has prompted several SME owners to prefer leased pick-up trucks, in order to avoid the hassle of maintenance and registration and lease being a cost-effective solution. Thus, the lease segment is projected to expand at a significant growth rate during the forecast period.

Based on fuel type, the pick-up truck market can be segregated into gasoline, diesel, electric-hybrid, and CNG. The pick-up truck market in North America is dominated by the gasoline fuel segment, while the pick-up truck market in Europe and Asia is dominated by the diesel segment. The current trend of vehicle electrification is driving the demand for electric-hybrid pick-up trucks; however, they are at a nascent stage.

In terms of region, the global pick-up truck market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America leads the global market owing to the high usage of pick-up trucks for personal and commercial use. The market in Asia Pacific is estimated to expand during the forecast period due to the rise in adoption of pick-up trucks for commercial operations.

Key players operating in the global pick-up truck market include Ford Motor Company, General Motors Company, Nissan Motor Co., Ltd., Toyota Motor Corporation, and Honda Motor Company, Ltd.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Pickup Truck Market

Pre Book