LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global pickup truck market report until 2020. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
The latest pickup trucks have high fuel economy and are light-weight, mainly due to the all-aluminum alloy body that they sport. The use of aluminum makes them light, thereby providing greater towing, faster acceleration, and higher payload capacity. Due to these innovations, the global pickup truck market will witness the sale of 7.17 million units of pickup trucks.
“There are three types of pickup trucks: mid-size, full-size, and heavy-duty pickup trucks. While the US leads the market in the full-size pickup truck market segment, the mid-size segment has Thailand in the lead. Globally, this market is expected to showcase a CAGR of almost 6% through 2020. Emergence of electric pickup trucks, combined with added engineering advances and luxury trims are expected to keep the buyers occupied”, says Sayantoni Ghosh, summarizing the market as one of the lead technical analysts at Technavio for automotive engineering research.
Competitive vendor landscape
Pickup truck customers are some of the most loyal customers to their brand. The market has a few big key vendors and a few regional players, with the original equipment manufacturers (OEMs) registering the highest profits. The key vendors are General Motors, Ford Motors, FCA, Toyota, and Nissan.
General Motors is one of the Big Three, has a presence in the mid-size pickup truck market with its Chevrolet Colorado and the GMC Canyon. Ford Motor's F-Series has been the nation’s best-selling truck for the last 38 years. It is also one of the most technologically competitive players in the global pickup truck market. FCA operates in the global pickup truck market with its brand Ram. Ram trucks hold the third-largest market share, the most popular model being the Ram 1500. Toyota has a competitive position in the market with brands such as Tundra and Tacoma. Nissan has its presence mostly in the mid-size pickup segment.
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Top five vendors in global pickup truck market
Fiat Chrysler Automobiles (FCA), along with its subsidiaries, offers vehicles in North America. The company offers passenger cars, SUVs and crossover vehicles, minivans, trucks, and commercial vehicles. It also sells automotive service parts and accessories. The company provides its products under brand names such as Chrysler, Jeep, Dodge, Ram, and SRT. It sells accessories, collision repair, maintenance, and performance parts under the brand name Mopar. The company, through its dealer network, sells service contracts to retail consumers and provides contract manufacturing services to other vehicle manufacturers.
Ford Motor Company
The Ford Motor Company is involved in the manufacturing and financing of automotive vehicles. The company sells commercial vehicles and automobiles (under the Ford brand) and luxury cars (under the Lincoln brand). It also owns Australian performance car manufacturer FPV and Brazilian SUV manufacturer Troller. The company operates through two sectors that include automotive and financial services. The automotive sector is further divided based on geographical regions that include North America, South America, Europe, APAC, and Africa. The financial services sector of the company comprises Ford Credit and other financial services.
GMC trucks are a part of General Motors. General Motors offers cars, trucks, crossovers, and automobile parts worldwide. It also provides automotive financing services through its subsidiary General Motor Financial. The company operates mainly through two segments that include the GM automotive segment, which is subdivided into GM North America, GM Europe, GM International Operations, and GM South America; and the GM Financial segment.
General Motors operates joint-ventures with other companies for its existing product development and launch of new products. GM has entered joint venture partnerships with SAIC-Wuling Automobile and FAW Light Duty Commercial Vehicle in China. General Motors operates in over 65 countries through 262 subsidiaries worldwide. Geographically, it is classified into two geographic segments that include the US and non-US. The company played an essential role in the global automotive industry and has a 100-year history.
Nissan manufactures and sells automotive products, marine products, and related parts worldwide. Its product offerings include zero-emission vehicles, SUVs, specialty and light cars, wagons, pickup vehicles, sedans, hatchbacks, and light commercial vehicles. Its products are sold under the brand names Nissan, Infiniti, and Datsun. The company serves customers in more than 160 countries. Its business activities are classified into automobile and sales financing segments.
Toyota develops, repairs, and commercializes passenger cars, trucks, buses, and related parts worldwide. The company operates in three major segments – automotive, financial services, and others. The company sells its vehicles in more than 170 countries worldwide. It has over 50 manufacturing facilities in 27 countries besides Japan.
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