Pune, India, Sept. 05, 2022 (GLOBE NEWSWIRE) — The global Size of the pick-up market is projected to reach $256.5 billion by 2028, at a CAGR of 4.65% over the forecast period. The increasing electrification of vehicles and the introduction of advanced technologies are expected to drive the market growth. Fortune Business Insights presented this information in its report titled Pickup Truck Market, 2021-2028. The market size was $177.7 billion in 2020 and $186.6 billion in 2021.
Additionally, the increasing use of pickup trucks for light transportation purposes by the expanding e-commerce industry is expected to be a key factor driving the market growth.
industry development
- November 2021 – Ford introduced the all-electric F-100 Eluminator concept vehicle, a zero-emissions demonstration truck powered by Ford Performance Parts’ all-new Eluminator electric crate engine, available now online.
- June 2021– Ford Motor has announced the launch of a new compact truck called the Maverick. This affordable model features a 2.5-liter full hybrid engine as standard or an optional 2.0-liter EcoBoost engine, a 4G LTE WiFi hotspot and an 8-inch Bluetooth display.
Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/pickup-truck-market-105070
Scope and segmentation of the report:
| report coverage | details |
| forecast period | 2021-2028 |
| Forecast period 2022 to 2028 CAGR | 4.65% |
| Value prognosis 2028 | $256.5 billion |
| base year | 2020 |
| Market size in 2021 | $186.6 billion |
| Historical data for | 2017-2019 |
| number of pages | 200 |
| segments covered | Truck type, drive type and region are examined |
| growth accelerator | Presence of key players to fuel growth in North America |
| Rising electrification to drive the global market |
Regional Insights
Presence of key players to fuel growth in North America
North America is expected to have the largest pickup market share. The presence of key market players, including General Motors, Ford Motor Company and Honda…
