Latest News- Pickup Truck Market: ECCC is expected to lead the Type segment during 2025-2029

The Pickup Truck Market is being driven by Increased utility of pickup trucks

The Pickup Truck Market is expected to grow at a CAGR of 5.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 112.9 billion. In the pickup truck market, automakers are prioritizing the enhancement of fuel efficiency to adhere to regulatory standards. Traditional pickup trucks are primarily constructed with steel. However, the adoption of alternative materials, such as aluminum, in manufacturing processes can lead to improved fuel efficiency and reduced emissions. For instance, Ford Motor Company's aluminum F-150 pickup truck weighs approximately 700 lb. less than its steel counterpart, resulting in increased mileage. Furthermore, the lighter aluminum variant enables more engine power to be allocated towards towing or pulling capabilities. This is exemplified by the F-150's ability to tow more weight using a V6 engine instead of a V8 engine. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • ECCC
  • Regular cab
• Product
  • Full-size pickup truck
  • Small-size and mid-size pickup truck
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased utility of pickup trucks
• Expanding product portfolio for pickup trucks
• Rising penetration of advanced driver assistance features in pickup trucks

However, the market also witnesses some limitations, which are as follows:

• Increasing stringency of fuel efficiency and emission standards
• Increasing sales of used vehicles
• High production cost of pickup trucks

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Market Scope in Pickup Truck Market Research Report

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Research Analysis Overview

In the rapidly growing Pickup Truck Market, B2C enterprises focus on the specifications of new passenger cars and commercial vehicles, including light-duty Pickups, for various commercial purposes. Using a bottom-up approach, they consider predefined factors such as cargo carrying capacity, safety features, and connectivity. Websites, vehicle registries, car dealers, environment agencies, and automobile manufacturers provide valuable information. Complexity arises from the versatility of Pickups, used in logistics, construction, off-road, and recreational applications. Rapid economic growth and rising disposable incomes fuel demand, while environmental consciousness influences the industry. Safety and environmental regulations are key considerations.

Market Research Overview

In the B2C automotive sector, the global automobile manufacturers market encompasses enterprises specializing in the production of passenger cars, commercial vehicles, and all-terrain vehicles. Notably, this market excludes manufacturers of motorcycles, scooters, e-bikes, trikes, and three-wheelers. According to Technavio's analysis, the market's size is determined by the consolidated revenue generated by these automobile manufacturers. Key growth drivers for the global automobile manufacturers market include the integration of advanced features such as electronic components, enhanced safety systems, autonomous capabilities, emission standardization, improved fuel efficiency through electronic fuel control, and customizable vehicle specifications. These elements are pivotal in attracting customers and fostering vehicle ownership.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/