London, 24 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the pickup truck market in the US 2015-2019, which is expected to post a CAGR of 4.01% during the period 2014-2019.
The pickup truck market has seen a lot of innovations lately, including coil-spring rear suspensions and turbocharged V6s. As a result of such innovations, there have been improvements in pickup truck features, such as ride comfort and increased fuel economy, which give existing pickup buyers more reasons to upgrade their vehicles.
“Coupled with economic factors, the region has also seen increased demand for pickup trucks from small business owners and contractors (replacing their older fleet trucks),” says Faisal Ghaus, Vice President of Technavio.
“Therefore, with the rebounding housing market contractors now have money to buy new pick-up trucks. This is helping the growth of the pickup truck market in the US in the present scenario.”
Key Market Drivers
- Declining Fuel Prices
- High Adaptability and Demand
- Weight Reduction for Fuel Efficiency
Key Market Trends
- Emergence of Electric Pickup Trucks
- Engineering Advances
- Luxury Trims
Key Market Vendors
- FCA US
- Ford Motor
- General Motors
- Nissan
- Toyota
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
