Pickup Truck Market in the US to witness over 940 thousand Units growth during 2021-2025 | Emerging Trends, Company Risk, and Key Executives |Technavio
NEW YORK, July 8, 2021 -- Technavio has been monitoring the pickup truck market in the US and it is poised to grow by 941.57 thousand units during 2021-2025, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the pickup truck market in the US.
Frequently Asked Questions:
- Based on segmentation by product, which is the leading segment in the market?
Based on the product, the market witnessed maximum growth in the full-size pickup truck segment in 2020.
- What are the major trends in the market?
The increased product portfolio for pickup trucks is the major trend in the market.
- At what rate is the market projected to grow?
The market is projected to grow at a CAGR of almost 6% during the forecast period.
- Who are the top players in the market?
Ford Motor Co., General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Nissan Motor Co. Ltd., Rivian Automotive LLC, Stellantis NV, Tesla Inc., Toyota Motor Corp., and Volkswagen AG are the top players in the market.
- What are the key market drivers and challenges?
The market is driven by the increased utility of pickup trucks. However, the increasing sales of used vehicles in the US might threaten market growth.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. Ford Motor Co., General Motors Co., Honda Motor Co. Ltd., Hyundai Motor Co., Nissan Motor Co. Ltd., Rivian Automotive LLC, Stellantis NV, Tesla Inc., Toyota Motor Corp., and Volkswagen AG are some of the major market participants. Although the increased utility of pickup trucks will offer immense growth opportunities, the increasing sales of used vehicles in the US is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this pickup truck market in us forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Pickup Truck Market in US 2021-2025: Segmentation
Pickup Truck Market in US is segmented as below:
- Full-size Pickup Truck
- Small- and Mid-size Pickup Truck
- Cab Style
- Extended Cab and Crew Cab
- Regular Cab
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Pickup Truck Market in US 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The pickup truck market in US report covers the following areas:
- Pickup Truck Market in US Size
- Pickup Truck Market in US Trends
- Pickup Truck Market in US Industry Analysis
This study identifies the increased product portfolio for pickup trucks as one of the prime reasons driving the Pickup Truck Market in US growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Pickup Truck Market in US 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist pickup truck market growth in the US during the next five years
- Estimation of the pickup truck market size in the US and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the pickup truck market across the US
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the pickup truck market vendors in the US
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Full-size pickup truck - Market size and forecast 2020-2025
- Small- and mid-size pickup truck - Market size and forecast 2020-2025
- Market opportunity by Product
Market Segmentation by Cab style
- Market segments
- Comparison by Cab style
- Extended cab and crew cab - Market size and forecast 2020-2025
- Regular cab - Market size and forecast 2020-2025
- Market opportunity by Cab style
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Ford Motor Co.
- General Motors Co.
- Honda Motor Co. Ltd.
- Hyundai Motor Co.
- Nissan Motor Co. Ltd.
- Rivian Automotive LLC
- Stellantis NV
- Tesla Inc.
- Toyota Motor Corp.
- Volkswagen AG
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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