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Heavy-duty Pick-up Trucks Market Trends

  • Report ID: GMI9099
  • Published Date: Apr 2024
  • Report Format: PDF

Heavy-duty Pick-up Trucks Market Trends

The heavy-duty pick-up truck industry is witnessing significant technological advancements. Innovations in engine technology are resulting in more powerful and efficient engines with higher torque and horsepower. This enables vehicles to carry greater loads and shorten journey durations. While still in development, self-driving pickup trucks have the potential to transform the business by increasing efficiency, and safety, and lowering driver fatigue on lengthy trips. Furthermore, as battery technology evolves, electric and hybrid heavy-duty vehicles become increasingly realistic options. This can substantially lower emissions and operational costs in the long term, making it appealing to environment-conscious enterprises.

In January 2024, RAM Trucks unveiled its Virtual Ram 3500 REV as the first all-electric heavy-duty truck in the U.S. This innovative vehicle marks a significant milestone in the transition toward electric heavy-duty trucks, offering a sustainable & efficient solution for heavy-duty transportation needs in the country.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of heavy-duty pick-up trucks reached USD 41.3 billion in 2023 and is set to grow at 6% CAGR between 2024 and 2032, owing to the rising demand from commercial and industrial sectors.

The electric segment accounted for USD 1.8 billion in revenue in 2023, as battery technology is continually evolving, and the cost of battery packs is steadily dropping.

North America market will generate USD 38.5 billion by 2032, driven by the construction, mining, oil & gas, and logistics industries.

Ford Motor Company, General Motors, Great Wall Motors, Honda, Isuzu, Mitsubishi Motors, Nissan, Ram Trucks, Toyota Motor Corporation, and Volkswagen.

Heavy-duty Pick-up Trucks Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 350
  • Countries covered: 25
  • Pages: 240
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