Pickup Trucks - Worldwide

Worldwide

The projected revenue in the Pickup trucks market worldwide is expected to reach US$123,400m in 2024.
This represents a significant growth opportunity for the industry.
Furthermore, it is estimated that the revenue will continue to increase at an annual growth rate of -0.80% from 2024 to 2028.
This growth trajectory is anticipated to result in a projected market volume of US$119,500m by 2028.
This indicates a steady demand for Pickup trucks market in the coming years.
In terms of unit sales, it is projected that in the world will see approximately 4,146.0k vehicles Pickup trucks market sold in 2028.
This reflects the strong market demand and consumer interest in this particular segment.
When considering the volume weighted average price of Pickup trucks market in 2024, it is expected to be around US$29k.
This figure provides insight into the pricing dynamics within the market segment, highlighting the value that consumers are willing to pay for these vehicles.
From an international perspective, United States is poised to generate the highest revenue in the Pickup trucks market.
It is projected that United States will account for US$79,220m in revenue in 2024.
This underscores the significance of the American market and its contribution to the overall success of the Pickup trucks market.
In conclusion, the Pickup trucks market worldwide is expected to experience substantial growth in the coming years.
The projected revenue, unit sales, and average price all indicate a positive outlook for the industry.
With United States leading the way in revenue generation, it is clear that this market segment holds great potential for manufacturers and investors alike.
In the United States, the demand for pickup trucks remains strong due to their versatility and cultural significance.

Key regions: Worldwide, India, Europe, United States,

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).