Full-size Pickup Trucks Market Size

Full-size Pickup Trucks Market size was valued at USD 87.2 billion in 2023 and is estimated to register a CAGR of over 4% between 2024 and 2032. The growing popularity of off-roading and adventure activities is driving growth in the full-size pickup truck market. Full-size trucks are designed for off-roading, with high ground clearance, strong engines for rugged terrain, and four-wheel drive for navigating steep inclines and drops. They have more powerful suspensions to manage bumps and jumps, robust frames to carry huge loads of gear, and features like skid plates to protect undercarriage components on rugged routes.

In January 2023, Toyota enhanced its off-road-oriented Tacoma TRD pro variant with upgraded features including FOX shocks, skid plates, and exclusive wheels. This enhancement underscores Toyota's ongoing commitment to delivering adventure-ready trucks tailored to meet the demands of outdoor enthusiasts. By elevating off-road capabilities in pick-up trucks, this offering is expected to stimulate growth in the full-size pickup trucks market.

The increased preference for commercial vehicles is fueling the adoption of full-size pickup trucks. Consumers are increasingly prioritizing perceived safety in their automobiles. Full-size trucks, with their enormous size and weight, are thought to provide superior crash protection than smaller automobiles. This resonates with families and people who value passenger safety. Full-size trucks provide plenty of space for people and freight. They are particularly well-suited for growing families, those who regularly travel with heavy objects, and people who lead busy lifestyles and require equipment for hobbies or sports.

Furthermore, full-size pickup trucks, particularly in North America, are linked with toughness, independence, and a feeling of adventure. Some buyers view owning a vehicle as a status symbol, which influences their purchasing decisions.

The high initial purchase price is a major challenge for the market, potentially slowing down its growth. Full-size trucks are more expensive than most cars and compact SUVs because of the materials, technology, and additional features they provide. This may be a substantial hurdle for cost-conscious consumers, particularly first-time automobile purchasers or those with limited financial resources.

The high price limits the market size, potentially eliminating a sizable section of the population who might otherwise be interested in the capabilities of a full-size vehicle but cannot afford the initial investment. In the case of potential buyers, the high price translates to increased loan payments, insurance charges, and maintenance costs, which may be a substantial financial burden.

Full-size Pickup Trucks Market Trends

The full-size pickup truck industry is witnessing significant technological advancements. Advancements in engine technology are resulting in more powerful and fuel-efficient engines. This translates to increased towing capacity, hauling capabilities, and acceleration, while also resolving long-standing issues about gas consumption in full-size vehicles. New driver-assistance features such as lane departure alerts, automated emergency braking, and blind-spot monitoring are making full-size trucks safer. This is an important selling factor for families and safety-conscious customers. Furthermore, as technology advances, full-size trucks become more comfortable and user-friendly. Touchscreens, premium sound systems, heated and ventilated seats, and advanced connection choices are attracting a broader spectrum of purchasers.

In September 2023, General Motors announced that its sophisticated driving assistance technology, Super Cruise, will be available on the GMC Sierra and Chevy Silverado trucks in 2024. This hands-free driving technology will expand beyond premium automobiles to include the highly competitive full-size truck category. These technological advancements will further drive the market in the future.

Full-size Pickup Trucks Market Analysis

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Based on fuel, the market is divided into gasoline, diesel, and electric. The diesel segment accounted for around 68% market share in 2023. Diesel engines are known to provide substantially more torque than gasoline engines. This translates to more pulling power, making them suitable for lifting big loads and towing trailers, which are popular needs for full-size truck owners. A considerable chunk of the full-size truck industry is dedicated to work applications such as construction, haulage, and pulling heavy equipment.

Diesel engines are ideal for these demands because of their towing capacity and fuel economy under large loads. Along with this, diesel engines are known for their sturdy construction and longer lifespans than gasoline engines. This is critical for full-size truck owners who use their vehicles for work or lengthy journeys.

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Based on application, the full-size pickup trucks market is categorized into commercial and industrial. The commercial segment is expected to cross USD 78 billion revenue by 2032. Full-size trucks are naturally utilitarian vehicles, with characteristics that are ideal for commercial uses. Their big beds allow them to transport vast amounts of material, while the strong engines and sturdy chassis allow them to withstand high loads. This makes them ideal for organizations that deal with construction, landscaping, carrying equipment, deliveries, and other commercial tasks.

Businesses need reliable automobiles that can withstand regular wear and tear. Full-size trucks are noted for their tough design and sturdy components, which make them less prone to malfunctions and save downtime for businesses.

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North America dominates the global full-size pickup truck market with USD 52.1 billion revenue in 2023. Several industries such as construction, agriculture, oil and gas rely on full-size pickup trucks for transportation purposes. Also, these vehicles are ideal for the North American lifestyle, which frequently includes outdoor sports, transporting equipment for hobbies, and pulling trailers for camping or recreational use. Several industries in North America rely on full-size pickup trucks. Construction, agriculture, oil and gas, and a variety of other industries use them to transport equipment, tow trailers, and navigate job sites.

The south and southeast regions of the U.S. have a long history of truck culture, as well as a larger predominance of businesses such as construction, agriculture, and oil and gas, all of which rely significantly on full-size trucks. Furthermore, the warm environment and emphasis on outdoor activities such as hunting and fishing contribute to the popularity of these trucks. Full-size trucks are more common in rural locations, where space and towing capacity are more important for daily tasks.  In contrast, metropolitan areas frequently prefer smaller, more agile automobiles due to parking restrictions and fuel economy concerns.

European countries including France, Germany, UK, and the Netherlands have significantly smaller full-size pickup trucks markets compared to North America. Europeans prefer smaller, more fuel-efficient automobiles due to limited roadways, greater fuel prices, and a culture that values walkable cities. Large vehicles can be difficult to maneuver in these conditions. Commercial uses for full-sized vehicles are less widespread in Europe than in North America. Due to limited space, construction sites may use smaller commercial trucks or vans. Additionally, recreational off-roading is not as common in Europe.

Economic expansion in China, India, and Indonesia is driving the demand for commercial vehicles, particularly full-size trucks, for construction, logistics, and mining operations. Expanding infrastructure developments have enhanced the need for these vehicles. Furthermore, in countries in the MEA region, such as the UAE and Saudi Arabia, as disposable incomes rise, there is a growing preference for larger, more capable vehicles. Full-size trucks cater to this demand with their imposing presence, towing capacity, and off-road capability.

Full-size Pickup Trucks Market Share

Ford Motor and Toyota Motor dominate the market with over 12% of the market share. Ford Motor Company offers a diverse array of customization options and trim levels to accommodate a spectrum of consumer preferences and usage requirements. Additionally, they provide supplementary features, packages, and upgrade selections, empowering consumers to personalize their pickup trucks, according to their unique lifestyles and preferences.

Toyota Motor Corporation integrates cutting-edge features, technologies, and safety enhancements into its full-size pickup truck models to elevate performance, comfort and convenience. Furthermore, the company provides sophisticated driver-assistance systems, connectivity features, and entertainment options, catering to the preferences of technologically savvy consumers.

Full-size Pickup Trucks Market Companies

Major companies operating in the full-size pickup trucks industry are:

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

Full-size Pickup Trucks Industry News

• In April 2024, the 2025 Kia Tasman was confirmed as Kia's first pickup truck, set to compete directly with popular models like the Toyota Hilux, Ford Ranger, and Isuzu D-Max. This new pickup truck from Kia is a significant entry into the competitive pickup truck market, signaling Kia's expansion into this segment and its commitment to offering a versatile and competitive vehicle option for consumers seeking a reliable and capable pickup truck.
  
• In March 2024, Fisker and Nissan collaborated to discuss a partnership focused on producing an electric full-size pickup truck. Nissan is considering investing over USD 400 million in Fisker's electric pickup truck venture, which could provide Nissan access to Fisker's truck platform. The deal includes terms where Nissan would invest in the Fisker truck platform and potentially build its own electric pickup on the same platform.
  

The full-size pickup trucks market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and shipment (Units) from 2021 to 2032, for the following segments:

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Market, By Cab

• Regular
• Extended
• Crew

Market, By Fuel

• Gasoline
• Diesel
• Electric

Market, By Application

• Commercial
• Industrial

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA