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Pickup Truck Market:Executive Summary
Global Pickup Truck Market is valued approximately at USD 7726.6 billion in 2019 and is anticipated to grow with a growth rate of more than 1.80 % over the forecast period 2020-2027.
Pickup truck is a hybrid vehicle with both enclosed cab as well as open cargo area used to transport goods and services. The emerging sales hub as well as rise in consumption of goods and services across the globe are the major driving factors that boost the market growth of Global Pickup Truck Market. Usually pickup trucks are owned by small entrepreneurs and businesses. Pickup trucks enhance transportation facilities in localities where other modes of transportation are unavailable which motivates the market growth. Moreover, Pickup trucks are preferred as they are cost effective, easy to maneuver and fuel- efficient inclining the market growth. Due to Covid-19 Pandemic, Global manufacturing sector has observed decline. The automobile industry has observed worst quarter since 2008 global financial crisis, both the supply and demand have been affected drastically leading to affect Global Pickup Truck Market as well. A large number of automakers in China, UK, US, India and many more countries have suspended the plant operations which lead to disruption in their productions and hampered customer demand. However, rise in customer demand of efficient fuel vehicles for personal outdoor activities such as camping and boating make them prefer pickup trucks over SUVs. Rising export as well as import activities would create lucrative growth aspects for the market. market growth. For Instance: As per World Trade Organization in 2018, there has been an increment of approximately 10% in imports and exports across the world. Further, growth in the movers and packers market support the market growth of Global Pickup Truck Market. However, reduction in gas mileage and availability of lesser model options are the restraining factors which impede the growth of the market over the forecast period of 2020-2027.
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The regional analysis of global Pickup Truck market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world due to increase in renting market and increase in demand. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rise in startups and preference by youngsters due to both, performance of trucks and luxury of the car would create lucrative growth prospects for the Pickup Truck market across Asia-Pacific region.
Major market player included in this report are:
Ford Motor Company (US)
General Motors Company (US)
Nissan Motor Co., Ltd. (Japan)
Toyota Motor Corporation (Japan)
Honda Motor Company, Ltd. (Japan)
Isuzu Motors Ltd. (Japan)
Honda Motor Company, Ltd. (Japan)
Tata Motors Limited (India)
Mahindra & Mahindra Limited (India)
Chevrolet (US)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Full Size Pickups
Small/Midsize Pickups
Others
By Application:
Individual Use
Commercial Use
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Pickup Truck Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Continuous…
For further information on this report, visit – https://www.wiseguyreports.com/reports/5421608-global-covid-19-impact-on-Pickup Truck-market-size
NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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