United States Pickup Truck Market By Vehicle Type (Compact Pickup Truck, Mid-Sized Pickup Truck, Full-Sized Pickup Truck, Heavy-Duty Pickup Truck), By Propulsion Type (Diesel, Gasoline, Hybrid, Electric), By Application Type (Haul Lumber, Commercial Use, Construction Use, & Others), By Region, Competition Forecast & Opportunities, 2028F

  • Industry : Automotive
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

The United States pickup truck market is expected to grow at impressive rate through 2028, being valued at USD 180.37 billion in 2022, and by the end of the forecasted period2028 the pickup truck market will be valued around USD 247.5 billion. The factors propelling the demand for the pickup trucks across the United States includes high value proportion of pickup trucks which are employed to carry freight and passengers both. The pickup trucks have elevated axles and outfitted wheels which make it suitable for multi terrains (off-road and on-road) and alloys to navigates rocky, damp, and muddy terrains. Rapid advancement in technology of pickup trucks engine upsurge the demand of pickup trucks driving the growth of the pickup trucks market in the forecast years.

The sales of the pickup truck in United States accounts for around 50.57% in the year 2021. Despite a year of surging gas prices and increased public focus on smaller and hybrid vehicles, the sales of pickup trucks have been constant in the year 2022. Unlike, the slight decline in 2022 in the sales of all vehicle types, the pickup trucks sales have been at constant and much stronger position in United States.

According to the Experian automotive one out of four vehicles (around 26.91%)in Texas is a pickup Truck. Hence, Texas holds the highest proportion for the pickup trucks in United States.

High Resale Value

Pickup trucks are more famous among people in the United States due to their high resale value in the market. Presently, the cost of a new pickup truck in the United States is much higher when compared to the passenger cars. People prefer to take used pickup trucks at a much lower cost than purchasing a newer one. In turn, the resale value of pickup trucks in the United States is much higher compared to the other vehicles due to their high demand in the market. However, with so many benefits and features over passenger cars, many people in the United States prefer to buy pickup trucks.

Manufacturers of Pickup Trucks are Focusing on Customer-Centric Features

Companies operating in the pickup truck market are beginning to focus mostly on providing owners the comfort and realistic solutions to their issues. Many companies have started to invest in this business by seeing the better opportunities and to fulfill the requirements of travelers. Ram Trucks, an America-based pickup truck manufacturer, unveiled RamBoxes, a pair of lockable storage containers that can be accessed from the roadside and are spacious enough to hold goods or a collapsed fishing pole. Companies offering the pickup truck focus on the needs of their customers in order to satisfy them and to increase their brand value.

Ideal For Movement of Goods

In the United States, according to the data it is expected that a person can change their location or proper settled place for 11.7 in their lifetime, and the data suggest that the age of 18, a person can expect to change there settled place for another 9.1 times in their remaining lifetime. In the United States, the age group of 25 to 54 years accounted for 50% purchase of the pickup trucks; the pickup is very helpful for them in case of moving from one house to another house. Moving from one place to another is very costly in the United States people generally rent large trucks, which cost very high to them; instead of that, if they buy a pickup truck, then it can handle most moving needs and will cost them very low. Pickup trucks have a large open area at the back, which allows them to carry heavy items and stack boxes and move them to their destination. People usually attach moving trucks with the pickup truck, so that they can take a few trips with the moving truck. The sales of pickup trucks have increased over the other vehicles in the past few years in the United States.


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Market Segmentation

The United States pickup truck market is segmented by vehicle type, by propulsion type, by application and by region. Based on vehicle type, the market is segmented into compact pickup truck, mid-sized pickup truck, full-sized pickup truck, heavy-duty pickup truck. Based on propulsion type, the market is segmented into diesel, gasoline, hybrid, electric. Based on application type, market is divided into haul lumber, commercial use, construction, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among north, east, south, and west region.  

Company Profiles

FCA Group Marketing S.p.A (RAM Pickup Truck), Ford Motor Company, GM (General Motors Corporation), Isuzu Motors, Mercedes Benz, Toyota Motor Corporation, Nissan Motor Company, Honda Motor Co., Ltd., Hyundai Motor Company, Rivian Automotive, Inc. These are the key players are developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2021 and 2023E-2028F

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         By Vehicle Type

·         By Propulsion Type

·         By Application Type

·         By Region

Regional Scope

 North-East, South, West, Mid-West

Key Companies Profiled

FCA Group Marketing S.p.A (RAM Pickup Truck), Ford Motor Company, GM (General Motors Corporation), Isuzu Motors, Mercedes Benz, Toyota Motor Corporation, Nissan Motor Company, Honda Motor Co., Ltd, Hyundai Motor Company, Rivian Automotive, Inc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, global automotive lubricant market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • United States Pick Up Truck Market, By Vehicle Type:
    • Compact Pickup Truck
    • Mid-Sized Pickup Truck
    • Full- Sized Pickup Truck
    • Heavy-Duty Trucks Pickup Truck
  • United States Pick Up Truck Market, By Propulsion Type:
    • Diesel
    • Gasoline
    • Hybrid
    • Electric
  • United States Pick Up Truck Market, By Application Type:
    • Haul Lumber
    • Commercial Use
    • Construction
    • Others
  • United States Pick Up Truck Market, By Region:
    • North
    • South
    • West
    • East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in United States pickup truck market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information:

  • Detailed analysis and profiling of additional market players (up to five).

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on United States Pickup Truck Market

4.1.  Impact Assessment Model      

4.1.1.     Key Segments Impacted

4.1.2.     Key Regions Impacted

4.1.3.     Key Countries Impacted

4.1.4.     Key Distribution Channel Impacted

5.    Voice of Customers

5.1.1.     Factors Influencing Purchase Decision

5.1.2.     Brand Recall

5.1.3.     Brand Switching

5.1.4.     Brand Switching Attributes

5.1.5.     Brand Satisfaction Level

6.    United States Pickup Truck Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

    

6.2.2.     By Propulsion (Diesel, Gasoline, Hybrid, & Electric)

6.2.3.     By Application Type (Haul Lumber, Commercial Use, Construction Use, Others)

6.2.4.     By Region (North, South, East, & West)

6.2.5.     By Company (2022)

6.3.  Product Market Map (By Vehicle Type, By Propulsion Type, By Application Type, By Region)

7.    United States Compact Pickup Truck Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type

7.2.2.     By Propulsion Type

7.2.3.     By Application Type

7.2.4.     By Region

8.    United States Mid-Sized Pickup Truck Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type

8.2.2.     By Propulsion Type

8.2.3.     By Application Type

8.2.4.     By Region

9.    United States Full-Sized Pickup Truck Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type

9.2.2.     By Propulsion Type

9.2.3.     By Application Type

9.2.4.     By Region

10.  United States Heavy-Duty Pickup Truck Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Vehicle Type

10.2.2.  By Propulsion Type

10.2.3.  By Application Type  

10.2.4.  By Region

11.  Market Dynamics

11.1.              Drivers

11.1.1.  Ideal For Moving

11.1.2.  Towing Capabilities

11.1.3.  High Resale value

11.2.              Challenges

11.2.1.  Shortage of Semiconductor

11.2.2.   Rising Fuel Price

12.  Market Trends and Developments

13.  Competitive Landscape

13.1.              Competition Outlook

13.2.              Company Profiles

13.2.1.  RAM

13.2.1.1.      Company Details

13.2.1.2.      Products & Services

13.2.1.3.      Financial (As Reported)

13.2.1.4.      Key Market Focus & Geographical Presence

13.2.1.5.      Recent Development

13.2.1.6.      Key Management Personnel

13.2.2.  Ford Motor Company

13.2.2.1.      Company Details

13.2.2.2.      Products & Services

13.2.2.3.      Financial (As Reported)

13.2.2.4.      Key Market Focus & Geographical Presence

13.2.2.5.      Recent Development

13.2.2.6.      Key Management Personnel

13.2.3.  GMC (General Motors Company)

13.2.3.1.      Company Details

13.2.3.2.      Products & Services

13.2.3.3.      Financial (As Reported)

13.2.3.4.      Key Market Focus & Geographical Presence

13.2.3.5.      Recent Development

13.2.3.6.      Key Management Personnel

13.2.4.  Isuzu Motor

13.2.4.1.      Company Details

13.2.4.2.      Products & Services

13.2.4.3.      Financial (As Reported)

13.2.4.4.      Key Market Focus & Geographical Presence

13.2.4.5.      Recent Development

13.2.4.6.      Key Management Personnel

13.2.5.  Mercedes Benz

13.2.5.1.      Company Details

13.2.5.2.      Products & Services

13.2.5.3.      Financial (As Reported)

13.2.5.4.      Key Market Focus & Geographical Presence

13.2.5.5.      Recent Development

13.2.5.6.      Key Management Personnel

13.2.6.  Toyota Motor Corporation

13.2.6.1.      Company Details

13.2.6.2.      Products & Services

13.2.6.3.      Financial (As Reported)

13.2.6.4.      Key Market Focus & Geographical Presence

13.2.6.5.      Recent Development

13.2.6.6.      Key Management Personnel

13.2.7.  Nissan Motor Company

13.2.7.1.      Company Details

13.2.7.2.      Products & Services

13.2.7.3.      Financial (As Reported)

13.2.7.4.      Key Market Focus & Geographical Presence

13.2.7.5.      Recent Development

13.2.7.6.      Key Management Personnel

13.2.8.  Honda Motor

13.2.8.1.      Company Details

13.2.8.2.      Products & Services

13.2.8.3.      Financial (As Reported)

13.2.8.4.      Key Market Focus & Geographical Presence

13.2.8.5.      Recent Development

13.2.8.6.      Key Management Personnel

13.2.9.  Hyundai Motor Company

13.2.9.1.      Company Details

13.2.9.2.      Products & Services

13.2.9.3.      Financial (As Reported)

13.2.9.4.      Key Market Focus & Geographical Presence

13.2.9.5.      Recent Development

13.2.9.6.      Key Management Personnel

13.2.10.                Rivian

13.2.10.1.    Company Details

13.2.10.2.    Products & Services

13.2.10.3.    Financial (As Reported)

13.2.10.4.    Key Market Focus & Geographical Presence

13.2.10.5.    Recent Development

13.2.10.6.    Key Management Personnel

14.  Strategic Recommendations

14.1.              Key Focus Areas

14.2.              Target Regions & Countries

14.3.              Target Type

      14.4.          Target Category

Figures and Tables

Frequently asked questions

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In 2021, the United State pickup truck market stand around USD180.37 billion in value terms. In the upcoming years the growth rates of the pickup truck is seen to be increasing with decent rate as the people are preferring to take pickup trucks over the other passenger car.

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The factors which promote the growth of the United States pickup truck market are high resale value compared to other vehicle types, ideal for moving, towing capabilities, etc.

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The key players in the United States pickup truck market are FCA Group Marketing S.p.A (RAM Pickup Truck), Ford Motor Company, GM (General Motors Corporation), Isuzu Motors, Mercedes Benz, Toyota Motor Corporation, Nissan Motor Company, Honda Motor Co., Ltd., Hyundai Motor Company, Rivian Automotive, Inc.

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Rising adoption of pure electric vehicles and high price of the new pickup trucks are some of the restraining factors of the United Sates pickup truck market.

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Business Consultant
Press Release

United States Pickup Truck Market Accounted for 50.57% of sales in Overall Vehicle Sales in 2021

Nov, 2022

The advancement in technologies for manufacturing pickup trucks and its capacity and capability leads to growth of United States pickup market.

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