Global Semi-Autonomous and Autonomous Truck Market Report and Forecast 2024-2032

Global Semi-Autonomous and Autonomous Truck Market Outlook

The global semi-autonomous and autonomous truck market is expected to grow in the forecast period of 2024-2032 at a CAGR of 27.50%.

The Asia Pacific to be one of the Leading Regions in the Semi-Autonomous and Autonomous Truck Industry

The Asia Pacific is expected to witness a robust growth in the forecast period. This can be associated with China and Japan's rapid progress toward vehicle automation, especially mining and delivery trucks, and increasing safety regulations by various countries. The Asia Pacific is expected to be one of the fastest-growing regions in both the semi-autonomous and autonomous truck industry during the forecast period.

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South Korea's Transport Ministry has mandated autonomous emergency braking and lane departure warning systems in passenger cars beginning from January 2019 and in trucks and other vehicles starting from July 2021. Meanwhile, North America is a pioneer in autonomous technology, pickup trucks, which are equipped with innovative semi-autonomous features. The leading automotive manufacturing companies such as Ford and General Motors are increasingly providing pickup trucks services in the region. These factors are expected to aid the global semi-autonomous and autonomous truck industry in the forecast period.

Semi-Autonomous and Autonomous Truck: Market Segmentation

Automated trucks can do all the driving with minimal human interference in certain circumstances. The system controls the steering, acceleration, and braking, further monitoring the driving environment, along with dynamic driving tasks. On the other hand, in the case of semi-autonomous trucks, the driver is responsible for driving the vehicle while the technology is utilised to provide the driver with advanced safety features.

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By sensor type, the market can be distributed into:

• LiDAR
• Radar
• Image
• Ultrasonic
• Others

The market can be broadly categorised, on the basis of application, into:

• Last Mile Delivery Truck
• Mining Truck

On the basis of ADAS feature, the market can be segregated into:

• Adaptive Cruise Control (ACC)
• Automatic Emergency Braking (AEB)
• Blind Spot Detection (BSD)
• Intelligent Park Assist (IPA)
• Lane Keep Assist (LKA)
• Traffic Jam Assist (TJA)
• Highway Pilot (HP)

On the basis of level of automation, the market can be segmented into:

• Level 1
• Level 2 and 3
• Level 4
• Level 5

Based on propulsion type, the market can be classified into:

• Diesel 
• Electric
• Hybrid

On the basis of truck class, the market can be divided:

• Class 1- Class 3(Light Duty Truck)
• Class 4- Class 6 (Medium Duty Truck)
• Class 7 and Class 8

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growing Adoption of Emerging Technologies to Augment the Growth of the Global Semi-Autonomous and Autonomous Truck Industry

Autonomous trucks provide improved safety, efficiency, and productivity and offer the potential to drastically reduce the frequency of road accidents. These vehicles observe the road safety rules and maintain a safe distance from other vehicles. These trucks, thus, assist in reducing the issues of traffic congestion while also increasing vehicle efficiency. Additionally, major corporations can reduce their total costs by utilising autonomous last-mile delivery trucks. Another major factor, which is expected to drive the demand for autonomous trucks for last-mile delivery applications is the reduced availability of delivery drivers and staff, as well as an increase in e-commerce activities. In addition, the increased logistic activities are also projected to lead to the growth of the semi-autonomous and autonomous truck industry in the forecast period.

Key Industry Players in the Global Semi-Autonomous and Autonomous Truck Market

The report presents a detailed analysis of the following key players in the global semi-autonomous and autonomous truck market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• AB Volvo
• Robert Bosch GmbH
• Continental AG
• NVIDIA Corporation
• Tesla, Inc.
• Embark Trucks, Inc.
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report