The report forecasts the global pickup truck market to grow at a CAGR of 5.65% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global pickup truck market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the key vendors in the market.
One of latest trends in the market is emergence of electric pickup trucks. Electric vehicles have the capability to provide plenty of torque from a low revolutions per minute (RPM). This makes electric vehicles suitable for being used as a pickup truck because of fuel bill savings. For example, improving the fuel efficiency of a sedan from 30 mpg to 50 mpg could save about 133 gallons of gasoline every 10,000 miles. In addition, enhancing the fuel efficiency of a pickup truck from 18 mpg to 25 mpg will save about 155 gallons for the same distance. Thus, the electric pickup truck market has multiple opportunities, and the automotive OEMs are turning their focus to these vehicles as a part of emission regulations planning.
According to the report, one of the primary drivers in the market is declining fuel prices in US. As the US contributed more than 50% of the sales of pickup trucks, the falling prices of gasoline in the country influenced the pickup truck market in that country. Fuel prices in the US have been high in the past, owing to conflicts in key oil producing nations like Iraq and soaring oil consumption in countries like China, reaching $100 per barrel in 2010. Thus, the global fuel production could not keep up with the demand, resulting in high prices.In 2014, the average national price of regular fuel was $3.66 per gallon; however, it went down to $2.74 per gallon in 2015. In addition, the price of mid-range fuel dropped from $3.84 per gallon in 2014 to $2.95 per gallon in 2015 and premium fuel prices declined from $4.01 per gallon in 2014 to $3.13 per gallon in 2015.
- Ford Motor Company
- General Motors
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by geography
Part 07: Key leading countries
Part 08: Market drivers
Part 09: Market challenges
Part 10: Market trends
Part 11: Vendor landscape
Part 12: Key vendor analysis
Part 13: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/frnj26/global_pickup
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SOURCE Research and Markets