The global pickup trucks market size is projected to reach USD 269.52 billion by 2030, with a compound annual growth rate (CAGR) of 3.2% from 2025 to 2030, according to a recent report by Grand View Research, Inc. The growth of this market is primarily driven by rising disposable income levels and an expanding middle-class population worldwide. Advances in automotive technology have significantly reduced vehicle retail prices, enhancing affordability and boosting new pickup truck sales globally. Additionally, pickup trucks are increasingly viewed as luxury vehicles in several countries due to their improved aesthetics and design.

The rise of e-commerce companies, fueled by the demand from tech-savvy consumers, is also contributing to the growing demand for pickup trucks among small- and medium-sized enterprises. In 2021, the diesel-based vehicle segment led the market. This dominance is attributed to consumer preference for diesel pickups, which offer higher torque and calorific value compared to other fuel types. Diesel engines are more efficient and durable, especially when towing heavy loads. Furthermore, the wide range of diesel vehicle models available from leading manufacturers encourages greater adoption of diesel pickups. The heavy-duty segment is expected to experience the fastest growth during the forecast period.

The rapid expansion of e-commerce and the increasing need for heavy-duty trucks for delivery purposes worldwide are driving demand. Consumer interest in newly launched, aesthetically enhanced models, along with frequent product launches by major manufacturers, also supports segment growth. For example, General Motors Company plans to launch the 2022 GMC Sierra 3500HD heavy-duty pickup truck, which features 401 horsepower and 464 lb-ft of torque. Central & South America is expected to register the second-fastest CAGR between 2022 and 2028, driven by a growing middle-income population, rising disposable incomes, increased spending on personal vehicles, and the expanding presence of key players in the region.

For instance, Nissan boosted production of Frontier pickup trucks by establishing a new manufacturing facility in Cordoba, Argentina, in August 2018. Similarly, Toyota increased pickup truck production at its Mexican plant as reported in February 2020, accelerating regional sales. The COVID-19 pandemic had a negative impact on the global market; lockdowns and other restrictions disrupted automotive supply chains, while shortages of semiconductor chips and other components halted pickup truck production, adversely affecting overall sales revenue. However, the market is anticipated to recover and register strong growth post-pandemic.

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Pickup Trucks Market Report Highlights

• Based on fuel type, the diesel segment dominated the global market, accounting for a 95.6% revenue share in 2024. This dominance is due to most pickup truck models being diesel-engine based.

• The electric segment is expected to grow at the fastest CAGR during the forecast period. Although diesel engines offer efficiency benefits, they also contribute to higher greenhouse gas (GHG) and CO2 emissions, increasing air pollution.

• Light-duty pickup trucks held the largest global market revenue share in 2024, attributed to a broad product range offered by various manufacturers.

• The heavy-duty vehicle segment is projected to achieve the fastest CAGR over the forecast period.

• North America led the global pickup trucks industry with a revenue share of 77.5% in 2024, while the Asia Pacific region is expected to see significant growth with a notable CAGR from 2025 to 2030.

Key Players in the Pickup Trucks Market

• Stellantis N.V.

• Ford Motor Company

• Toyota Motor Corp.

• Nissan Motor Co. Ltd.

• Volkswagen Group

• Tata Motors Ltd.

• Ashok Leyland Ltd.

• General Motors Company

• Hyundai Motor Company

• Suzuki Motor Corp.

• Kia Corporation

• Mahindra & Mahindra Ltd

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