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Global Pickup Truck Market Poised for Growth, Set to Expand by USD 102.91 Billion with CAGR of 5.01% from 2023-2028
Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Global Pickup Truck Market 2024-2028" report has been added to ResearchAndMarkets.com's offering.
The latest analysis on the global pickup truck market indicates a significant expansion, as the sector is expected to surge by USD 102.91 billion during the period 2023-2028, with a robust compounded annual growth rate (CAGR) of 5.01%.
This comprehensive market research report provides a rich analysis of market size, forecast, trends, growth drivers, and challenges, along with a vendor analysis encompassing approximately 25 prominent industry players.
The current market scenario illustrates a growing preference for the utility of pickup trucks, a diverse product portfolio, and the incorporation of advanced driver assistance features as key factors contributing to the market's impressive growth trajectory.
The report insightfully segments the pickup truck market into extended and regular cabs, full-size and small-size/mid-size trucks, and examines the market across key geographic regions, including North America, APAC, Europe, South America, and the Middle East and Africa.
Market Segmentation Insights
Type: Extended cab and crew cab, Regular cab
Product: Full-size pickup truck, Small-size/mid-size pickup truck
Geographic Landscape: North America, APAC, Europe, South America, Middle East and Africa
This analysis shines a light on the increasing use of lighter materials in the manufacture of pickup trucks as a key trend driving the market forward. Furthermore, advancements in electric pickup trucks and the adoption of autonomous technologies are anticipated to generate considerable demand in the industry.
Vendor Analysis and Key Market Trends
An in-depth vendor analysis is included to provide comprehensive insights to clients aiming to elevate their market standing. The report profiles several leading vendors in the pickup truck market including established automobile manufacturers and emerging entities in the sector. Among the noteworthy trends observed is the move towards electrification and the advent of autonomous driving technologies in pickup trucks, marking a significant shift towards innovation and sustainability within the industry.
The research methodology employed encompasses an objective amalgamation of primary and secondary data, alongside inputs from essential industry participants. The market and vendor landscape presented in this report are products of extensive and rigorous research, ensuring reliability and depth.
By delivering various market perspectives and identifying pivotal industrial influences, this detailed analysis facilitates strategic planning and enables companies to harness growth opportunities effectively. The forward-looking approach of this market study is designed to help stakeholders capture market momentum and navigate potential challenges effectively. For detailed insights and complete industry analysis, interested parties are encouraged to explore the full report, which reflects a commitment to providing thorough market intelligence that informs strategic decision-making.
A selection of companies mentioned in this report includes
Dr. Ing. h.c. F. Porsche AG
Ford Motor Co.
General Electric Co.
Honda Motor Co. Ltd.
Hyundai Motor Co.
Isuzu Motors Ltd.
Jiangling Motors Corp. Ltd.
KG Mobility
Mahindra and Mahindra Ltd.
Mercedes Benz Group AG
Mitsubishi Motors Corp.
Renault SAS
Rivian Automotive Inc.
Stellantis NV
Suzuki Motor Corp.
Tata Motors Ltd.
Ashok Leyland Ltd.
Beijing Automotive Group Co. Ltd.
Great Wall Motor Co. Ltd.
Toyota Motor Corp.
For more information about this report visit https://www.researchandmarkets.com/r/qgsrz4
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