What is Pickup Truck Market?
A pickup truck is defined as the light-duty vehicle which has enclosed cab and an open cargo area with low sides as well as the tailgate. It is used for passenger transport and transfers good carriers from one place to another. The rising number of the pickup truck in Asia-Pacific, increasing demand for comfort and convenience, increasing usage of pickup trucks in various application such as individual use and commercial use are some of the major factors which affect the growth of the market in future.
The market study is being classified by Type (Small/Mid-sized Pickup Truck and Full-Size Pickup Truck), by Application (Individual Use and Commercial Use) and major geographies with country level break-up.
The Financial Conduct Authority (United Kingdom), Ford Motor Company (United States), General Motors (United States), Nissan Motor Co., Ltd. (Japan), Toyota Motor Corporation (Japan), Isuzu Motors Ltd. (Japan), Honda Motor Company, Ltd. (Japan), Tata Motors Limited (India) and Mahindra & Mahindra Limited (India) are some of the key players profiled in the study.
The global pickup truck market is fragmented with too many small and large players such as The Financial Conduct Authority (United Kingdom), Ford Motor Company (United States), General Motors (United States), among others Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Pickup Truck market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Pickup Truck market by Type, Application and Region.
On the basis of geography, the market of Pickup Truck has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Significant Infrastructure Growth and Increased Demand for Frozen Perishable Commodities
- Higher Demand for Pickup Trucks Leads to Expansion in Production Capacity of Major Automakers
Market Trend
- Technology Advancement in Pickup Trucks Features Such as Automatic Transmissions, Bluetooth Connectivity, Among Others
Restraints
- Issue related to Repair and Maintenance of Pickup Truck
Opportunities
- Rising Demand from Developed and Developing Countries Such as China, the United States, and others
- Growing Demand for Vehicles with More Fuel Efficiency
Challenges
- Intense Competition Leading to Technology Innovation
- Production of Hybrid Trucks with Improved Technology
In February 2019, the Amazon Company has planned to invest in startup building electric pickup trucks as well as Sports Utility Vehicle. Hence, this investment will affect the growth of the market in the future.
Key Target Audience
Pickup Truck OEMs, Engine Suppliers, Transmission System Suppliers, Alternate Fuel Technology Suppliers, Industry Associations and Experts, Governments National and Regional Environmental Regulatory Agencies or Organizations and The Automobile Industry and Related End-User Industries