Report

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US Pickup Truck Market 2025-2029

US Pickup Truck Market Size (2025–2029)

The US pickup truck market is projected to expand by USD 51.8 billion, growing at a CAGR of 4.7% from 2024 to 2029. Growth is fueled by rising demand across personal and commercial sectors, increasing sales of used trucks, and advancements in vehicle design, particularly the use of lightweight materials for better fuel efficiency and reduced emissions. However, supply chain disruptions, labor shortages, and semiconductor chip scarcity have impacted market momentum.

Key Drivers

  • High Utility & Versatility: Pickup trucks offer superior towing and payload capacities, making them ideal for both commercial and private use.
  • Growing Used Vehicle Market: Used pickup trucks appeal to price-sensitive buyers, supporting overall market growth.
  • Shift to Lightweight Materials: Use of aluminum and other lightweight alternatives enhances fuel efficiency and performance.
  • Consumer Preference for Diesel: Diesel-powered pickups remain popular for their torque and load-hauling abilities.

Market Trends

  • Lightweight Manufacturing: OEMs like Ford are adopting aluminum bodies to reduce weight and increase mileage and towing capabilities (e.g., aluminum F-150).
  • Electrification of Pickup Trucks: EV pickup models are gaining traction, with companies like Stellantis and Rivian investing in electric alternatives.
  • Focus on Fuel Efficiency: Consumer interest is shifting toward diesel and electric models due to performance and environmental concerns.

Market Challenges

  • Surge in Used Vehicle Sales: Increased availability of used trucks may slow new vehicle sales.
  • Supply Chain Disruptions: Lockdowns and part shortages (especially chips) continue to hinder production and delivery.
  • Environmental Regulations: CO₂ emissions and fuel type restrictions are influencing buyer preferences and manufacturing decisions.

Key Players

Major companies shaping the US pickup truck market include:

  • Ford Motor Co.
  • Chevrolet (GM)
  • Toyota Motor Corp.
  • Honda Motor Co. Ltd.
  • Hyundai Motor Co.
  • Isuzu Motors Ltd.
  • Mitsubishi Motors Corp.
  • Nissan Motor Co. Ltd.
  • Stellantis NV
  • Rivian Automotive LLC
  • Tesla Inc.
  • Volkswagen AG

These companies are pursuing strategies such as product innovation, EV development, mergers & acquisitions, and geographic expansion.

Table of content

1 Executive Summary

1.1 Market overview

  • Executive Summary - Chart on Market Overview
  • Executive Summary - Data Table on Market Overview
  • Executive Summary - Chart on Country Market Characteristics
  • Executive Summary - Chart on Market Segmentation by Product
  • Executive Summary - Chart on Market Segmentation by Type
  • Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

2.2 Criticality of inputs and Factors of differentiation

  • Overview on criticality of inputs and factors of differentiation

2.3 Factors of disruption

  • Overview on factors of disruption

2.4 Impact of drivers and challenges

  • Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

3.1 Market ecosystem

  • Parent Market
  • Data Table on - Parent Market

3.2 Market characteristics

  • Market characteristics analysis

3.3 Value chain analysis

  • Value chain analysis

4 Market Sizing

4.1 Market definition

  • Offerings of companies included in the market definition

4.2 Market segment analysis

  • Market segments

4.3 Market size 2024

4.4 Market outlook: Forecast for 2024-2029

  • Chart on US - Market size and forecast 2024-2029 ($ billion)
  • Data Table on US - Market size and forecast 2024-2029 ($ billion)
  • Chart on US: Year-over-year growth 2024-2029 (%)
  • Data Table on US: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

5.1 Pickup Truck Market in US 2019 - 2023

  • Historic Market Size - Data Table on Pickup Truck Market in US 2019 - 2023 ($ billion)

5.2 Product segment analysis 2019 - 2023

  • Historic Market Size - Product Segment 2019 - 2023 ($ billion)

5.3 Type segment analysis 2019 - 2023

  • Historic Market Size - Type Segment 2019 - 2023 ($ billion)

6 Qualitative Analysis

6.1 The AI Impact on Pickup Truck Market in US

7 Five Forces Analysis

7.1 Five forces summary

  • Five forces analysis - Comparison between 2024 and 2029

7.2 Bargaining power of buyers

  • Bargaining power of buyers - Impact of key factors 2024 and 2029

7.3 Bargaining power of suppliers

  • Bargaining power of suppliers - Impact of key factors in 2024 and 2029

7.4 Threat of new entrants

  • Threat of new entrants - Impact of key factors in 2024 and 2029

7.5 Threat of substitutes

  • Threat of substitutes - Impact of key factors in 2024 and 2029

7.6 Threat of rivalry

  • Threat of rivalry - Impact of key factors in 2024 and 2029

7.7 Market condition

  • Chart on Market condition - Five forces 2024 and 2029

8 Market Segmentation by Product

8.1 Market segments

  • Chart on Product - Market share 2024-2029 (%)
  • Data Table on Product - Market share 2024-2029 (%)

8.2 Comparison by Product

  • Chart on Comparison by Product
  • Data Table on Comparison by Product

8.3 Full-size pickup truck - Market size and forecast 2024-2029

  • Chart on Full-size pickup truck - Market size and forecast 2024-2029 ($ billion)
  • Data Table on Full-size pickup truck - Market size and forecast 2024-2029 ($ billion)
  • Chart on Full-size pickup truck - Year-over-year growth 2024-2029 (%)
  • Data Table on Full-size pickup truck - Year-over-year growth 2024-2029 (%)

8.4 Small-size and mid-size pickup truck - Market size and forecast 2024-2029

  • Chart on Small-size and mid-size pickup truck - Market size and forecast 2024-2029 ($ billion)
  • Data Table on Small-size and mid-size pickup truck - Market size and forecast 2024-2029 ($ billion)
  • Chart on Small-size and mid-size pickup truck - Year-over-year growth 2024-2029 (%)
  • Data Table on Small-size and mid-size pickup truck - Year-over-year growth 2024-2029 (%)

8.5 Market opportunity by Product

  • Market opportunity by Product ($ billion)
  • Data Table on Market opportunity by Product ($ billion)

9 Market Segmentation by Type

9.1 Market segments

  • Chart on Type - Market share 2024-2029 (%)
  • Data Table on Type - Market share 2024-2029 (%)

9.2 Comparison by Type

  • Chart on Comparison by Type
  • Data Table on Comparison by Type

9.3 Extended cab and crew cab - Market size and forecast 2024-2029

  • Chart on Extended cab and crew cab - Market size and forecast 2024-2029 ($ billion)
  • Data Table on Extended cab and crew cab - Market size and forecast 2024-2029 ($ billion)
  • Chart on Extended cab and crew cab - Year-over-year growth 2024-2029 (%)
  • Data Table on Extended cab and crew cab - Year-over-year growth 2024-2029 (%)

9.4 Regular cab - Market size and forecast 2024-2029

  • Chart on Regular cab - Market size and forecast 2024-2029 ($ billion)
  • Data Table on Regular cab - Market size and forecast 2024-2029 ($ billion)
  • Chart on Regular cab - Year-over-year growth 2024-2029 (%)
  • Data Table on Regular cab - Year-over-year growth 2024-2029 (%)

9.5 Market opportunity by Type

  • Market opportunity by Type ($ billion)
  • Data Table on Market opportunity by Type ($ billion)

10 Customer Landscape

10.1 Customer landscape overview

  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

11 Drivers, Challenges, and Opportunity/Restraints

11.1 Market drivers

11.2 Market challenges

11.3 Impact of drivers and challenges

  • Impact of drivers and challenges in 2024 and 2029

11.4 Market opportunities/restraints

12 Competitive Landscape

12.1 Overview

12.2 Competitive Landscape

  • Overview on criticality of inputs and factors of differentiation

12.3 Landscape disruption

  • Overview on factors of disruption

12.4 Industry risks

  • Impact of key risks on business

13 Competitive Analysis

13.1 Companies profiled

  • Companies covered

13.2 Company ranking index

  • Company ranking index

13.3 Market positioning of companies

  • Matrix on companies position and classification

13.4 Chevrolet

  • Chevrolet - Overview
  • Chevrolet - Product / Service
  • Chevrolet - Key offerings
  • SWOT

13.5 Ford Motor Co.

  • Ford Motor Co. - Overview
  • Ford Motor Co. - Business segments
  • Ford Motor Co. - Key offerings
  • Ford Motor Co. - Segment focus
  • SWOT

13.6 Honda Motor Co. Ltd.

  • Honda Motor Co. Ltd. - Overview
  • Honda Motor Co. Ltd. - Business segments
  • Honda Motor Co. Ltd. - Key news
  • Honda Motor Co. Ltd. - Key offerings
  • Honda Motor Co. Ltd. - Segment focus
  • SWOT

13.7 Hyundai Motor Co.

  • Hyundai Motor Co. - Overview
  • Hyundai Motor Co. - Business segments
  • Hyundai Motor Co. - Key news
  • Hyundai Motor Co. - Key offerings
  • Hyundai Motor Co. - Segment focus
  • SWOT

13.8 Isuzu Motors Ltd.

  • Isuzu Motors Ltd. - Overview
  • Isuzu Motors Ltd. - Product / Service
  • Isuzu Motors Ltd. - Key news
  • Isuzu Motors Ltd. - Key offerings
  • SWOT

13.9 Mitsubishi Motors Corp.

  • Mitsubishi Motors Corp. - Overview
  • Mitsubishi Motors Corp. - Business segments
  • Mitsubishi Motors Corp. - Key news
  • Mitsubishi Motors Corp. - Key offerings
  • Mitsubishi Motors Corp. - Segment focus
  • SWOT

13.10 Nissan Motor Co. Ltd.

  • Nissan Motor Co. Ltd. - Overview
  • Nissan Motor Co. Ltd. - Business segments
  • Nissan Motor Co. Ltd. - Key news
  • Nissan Motor Co. Ltd. - Key offerings
  • Nissan Motor Co. Ltd. - Segment focus
  • SWOT

13.11 Rivian Automotive LLC

  • Rivian Automotive LLC - Overview
  • Rivian Automotive LLC - Product / Service
  • Rivian Automotive LLC - Key news
  • Rivian Automotive LLC - Key offerings
  • SWOT

13.12 Stellantis NV

  • Stellantis NV - Overview
  • Stellantis NV - Business segments
  • Stellantis NV - Key news
  • Stellantis NV - Key offerings
  • Stellantis NV - Segment focus
  • SWOT

13.13 Tesla Inc.

  • Tesla Inc. - Overview
  • Tesla Inc. - Business segments
  • Tesla Inc. - Key news
  • Tesla Inc. - Key offerings
  • Tesla Inc. - Segment focus
  • SWOT

13.14 Toyota Motor Corp.

  • Toyota Motor Corp. - Overview
  • Toyota Motor Corp. - Business segments
  • Toyota Motor Corp. - Key news
  • Toyota Motor Corp. - Key offerings
  • Toyota Motor Corp. - Segment focus
  • SWOT

13.15 Volkswagen AG

  • Volkswagen AG - Overview
  • Volkswagen AG - Business segments
  • Volkswagen AG - Key news
  • Volkswagen AG - Key offerings
  • Volkswagen AG - Segment focus
  • SWOT

Research Methodology

All our research reports employ a mixed-methods approach, leveraging both primary and secondary research techniques to develop a comprehensive and well-informed analysis. The methodology ensures a balanced perspective by combining data-driven insights with expert opinions.

1. Secondary Research

Secondary research formed the foundation of the study, offering a contextual understanding of the market landscape, historical trends, and existing data. This phase involved gathering and analyzing information from:

  • Industry reports and whitepapers (e.g., McKinsey, Deloitte, Statista)
  • Academic journals and case studies
  • Company reports, investor presentations, and press releases
  • Government databases and regulatory publications
  • Trade publications, industry blogs, and news articles

2. Primary Research

To validate and complement secondary findings, extensive primary research was conducted. This included both quantitative data collection and qualitative insights, particularly through expert consultations.

a. Expert Consultations (Qualitative Primary Research)

In-depth interviews were conducted with a wide range of industry stakeholders, including:

  • Industry experts and consultants
  • Senior executives and decision-makers
  • Product managers and supply chain professionals
  • Academic researchers and analysts

b. Surveys and Questionnaires (Quantitative Primary Research)

Structured surveys were distributed among:

  • End-users/consumers
  • Retailers and distributors
  • Business-to-business (B2B) buyers

3. Data Validation and Triangulation

Findings from secondary and primary sources were cross-validated through data triangulation to ensure accuracy, consistency, and reliability. This process involved comparing insights from different sources and reconciling discrepancies through expert feedback.

4. Analytical Tools and Frameworks

Various analytical models were applied to interpret the collected data:

  • SWOT Analysis for understanding strengths, weaknesses, opportunities, and threats
  • Porter’s Five Forces to assess market competitiveness
  • PESTLE Analysis to evaluate external macroeconomic influences
  • Forecasting Models using historical data trends and regression analysis

Conclusion

The combination of comprehensive secondary research and robust primary data collection—enhanced by expert consultations—ensured the development of a well-rounded and in-depth analysis. This approach enables strategic decision-making backed by both empirical evidence and industry expertise.

For detailed methodology for this particular report please write to us on info@syovi.com