Report Code: A08916 | Pages: NA | Apr 2023 | 2453 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Pickup Truck Engine Market
Request Now !With the rise in demand for compact transportation vehicles around the world, the sales of pickup truck engines have escalated. A pickup truck is a light truck with a separate cab and open cargo area. Moreover, the pickup truck is widely used for passenger transportation, hauling, towing, and carrying utilities. Besides, internal combustion engines are widely preferred in the pickup truck category. Pickup trucks are more advantageous than a typical car as it provides the additional utility space for carrying loads without sacrificing passenger space. Further, the pickup truck, although carries lesser loads than a conventional truck, is gaining importance due to its compactness and ease while driving in urban areas.Â
COVID-19 scenario analysis:Â
With increase in distribution centers around the world, the load-carrying requirement has reduced; thereby, increasing the popularity of pickup trucks over conventional high-load capacity trucks. Additionally, rapid industrialization is fueling the growth of the pickup truck engine market. Moreover, the expansion of internet retailing is propelling market growth. However, stringent emission norms and high cost associated with pickup truck is hampering the market growth. Further, the expansion of production capacity of industries is proliferating the market growth.
The Pickup Truck Engine market trends are as follows:
The concern for increasing vehicle emission is hampering the market of pickup truck engines. Besides, rising government initiative and stringent emission standards are fueling the market for alternative fuel pickup trucks. Due to the conditions favoring alternative fuels, the automakers are increasing the production capacities for its manufacturing. For instance, in 2019, Tesla company announced its Cybertruck with a towing capacity of 14,000 pounds. Besides, in 2020, Nikola Motors unveiled a hybrid fuel-cell concept with around 600-mile range.Â
The increasing demand from consumers is raising the demand as well as challenges for the automotive industry. Moreover, to fulfill consumer demands, the collaborations have increased in recent years. Besides, with the rise in collaboration, the advancement in mobility services is catalyzing. In 2019, Ford and Volkswagen combined forces in a global alliance for the manufacturing of pickup trucks together. The medium-sized pickup truck will be built for both companies as early as 2022.Â
Key benefits of the report:
Questions answered in the pickup truck engine market research report:
Pickup Truck Engine Market Report Highlights
Aspects | Details |
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By Type |
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By Propulsion |
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By Cab style |
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By Region |
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Key Market Players | Cummins Inc., Ford Motor Company, General Motor Company, Honda Motor Company Ltd., Isuzu Motors Ltd., Mahindra & Mahindra Ltd., Mercedes Benz, Mitsubishi Motors Corporation, Volkswagen AG, Tata Motors. |
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