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Compact Pick-up Trucks Market Share

Report ID: GMI9100
Published Date: Apr 2024
Report Format: PDF

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Compact Pick-up Trucks Market Share

Ford Motor Company and Toyota Motor Corporation hold a significant market share of around 20% in the compact pick-up trucks industry. Ford focuses on continuous innovation to enhance the appeal of its compact pickup trucks. This includes incorporating advanced technology features, improving fuel efficiency, and optimizing towing capabilities to stay competitive in the market.

Toyota focuses on improving the fuel efficiency of its compact pickup trucks, leveraging its expertise in hybrid technology. By offering hybrid or fuel-efficient diesel variants, Toyota appeals to consumers looking to reduce their environmental footprint and operating costs.

Compact Pick-up Trucks Market Companies

Major companies operating in the compact pick-up trucks industry are:

Ashok Leyland
China FAW Group Corp., Ltd.
Dongfeng Motor Corporation
Ford Motor Company
General Motors Company
Honda Motor Co., Ltd.
Hyundai Motor Corporation
Nissan Motor Co. Ltd.
Tata Motors
Toyota Motor Corporation

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of compact pick-up trucks reached USD 29 billion in 2023 and is estimated to register 5% CAGR between 2024 and 2032, led by rising urbanization and mobility needs.

The diesel segment surpassed 70% of the market share in 2023 and is expected cross USD 24 billion by 2032, favored by the torque provided by diesel engines which can be advantageous for navigating challenging terrain.

North America market accounted for 55% revenue share in 2023, attributed to the plenty of storage room for tools, leisure supplies, and do-it-yourself projects in addition to contemporary styling, cozy cabins, and cutting-edge technology.

Ashok Leyland, China FAW Group Corp., Ltd., Dongfeng Motor Corporation, Ford Motor Company, General Motors Company, Honda Motor Co., Ltd., Hyundai Motor Corporation, Nissan Motor Co. Ltd., Tata Motors, and Toyota Motor Corporation.