Global Electric Pickup Truck Market foresees 50% CAGR During 2019-2025

Posted On April 18, 2019     

The Global Electric Pickup Truck Market is expected to grow with a CAGR of 50% during the period 2019-2025. In terms of revenue, the market was valued USD 15 BN in 2018 and is projected to reach USD 255.5 BN by 2025. This report covers detailed information on the factors that will influence the market growth with the precise estimation of the market size. Also, this report gives a thorough analysis of the market competitive landscape along with the leading vendors engrossed in the market. The report identifies the growing concern over environmental pollution which has raised the adoption of electrically powered vehicles across the globe as a major factor pushing the demand for electric pickup truck.
The rising fuel prices along with the technological advancement in terms of new features in vehicles are other major reasons escalating the market demand. Growing usage of electric pickup trucks for commercial operations coupled with the booming automotive sectors is further augmenting the market growth. Further, growing demand for fuel-efficient and light weight vehicle is also expected to propel the market growth.
The report "Global Electric Pickup Truck Market Report By Type (Small/Mid-Size Pickup Truck And Full-Size Pickup Truck), By Application (Individual Use And Commercial Use) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025" concentrate on market competitive panel, various leading players along with the precise prediction on the market trends that will help reader to identify and design new strategies for their business.
An electric pickup truck is a heavy-duty electric vehicle which is powered by batteries to deliver cargo. The lithium-ion battery is the most common battery used in electric pickup trucks as they have a higher density that enables the electric vehicle to increase to several hundred miles which increase their applicability. Electric pickup trucks are an alternative to traditional trucks as they contribute towards reducing pollution and are cost-efficient. Owing to high-efficiency of electric power they are usually heavier than diesel trucks.
Segmentation in the report has been done on the basis of type, application, and region. Type segment has been bifurcated into small/mid-size pickup truck and full-size pickup truck. Out of which, a small/mid-size pickup truck is gaining traction in the market as they offer high payloads and towing capabilities compared to full-size truck. Application segment has been classified into individual use and commercial use. Commercial application has emerged as the largest application area owing to the rising utilization of electric pickup trucks for cargo deliveries. Also, this truck offer increased capacities and the high proportional value which makes them ideal for commercial use. Regional segmentation covers North America, Europe, Asia-pacific, Latin America, the Middle East and Africa. Europe is accounted for the highest share in the market owing to the strong presence of the automotive industry. Also, rising emphasize by the European Union (EU) on reducing emission of greenhouse gases and other air pollutants is another major factor fueling the regional market growth.

The Report Segments Global Electric Pickup Truck Market -
By Type

  • Small/Mid-Size Pickup Truck
  • Full-Size Pickup Truck

By Application

  • Individual Use
  • Commercial Use

By Region

  • North America
  • Europe
  • Asia-pacific
  • Latin America
  • Middle East and Africa 

Players Profiled in the Report:
 Ashok Leyland, FCA, Ford, Foton Motor, GM, Great Wall Motors, Isuzu, Jiangling Motors, Mahindra & Mahindra, Mitsubishi, Nissan, Tata Motors, Toyota, Volkswagen, and ZXAUTO.

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