Autonomous Truck Market Projected to Reach 81.8 Thousand Units by 2030

Posted on 2019-11-08 by MarketsandMarkets in Automotive, Technology // 0 Comments

IL, USA, 2019-Nov-08 — /EPR Network/ —

The Autonomous Truck Market is estimated to be 15.2 thousand units in 2025 and is projected to reach 81.8 thousand units by 2030, at a CAGR of 39.96%.

The semi-autonomous truck market is estimated to be 260.1 thousand units in 2018 and is projected to reach 1,132.3 thousand units by 2025, at a CAGR of 23.38%.

The market growth is triggered by various factors such as the need for ease in driving and the increasing concerns of safety and security, which have led to the development of high-end technology and safety systems. Moreover, the increasing concern of truck driver shortage in many countries such as the US and Japan can be addressed with the help of semi-autonomous and autonomous trucks for goods transportation. Truck platooning using semi-autonomous and autonomous trucks can further improve efficiency and productivity and reduce CO2 emission.

The autonomous truck market is dominated by a few globally established players such as Bosch (Germany), Continental (Germany), Aptiv (UK), ZF (Germany), and Denso (Japan). Moreover, technology developers such as Uber (US), Waymo (US), and TuSimple are providing momentum to the growth of the market.

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In the by sensor segment, the autonomous truck market has been segmented into radar, LIDAR, ultrasonic, and camera. The market for LIDAR is estimated to be the largest for the autonomous truck market as it can provide reliable data of truck surrounding. However, the major challenge in the adoption of LIDAR sensor in semi-autonomous trucks is its high cost. The Radar segment is expected to dominate the semi-autonomous truck market.

The semi-autonomous truck market has been segmented, by ADAS features, into Adaptive Cruise Control, Lane Assist, Intelligent Park Assist, Traffic Jam Assist, Autonomous Emergency Braking, Blind Spot Detection, and Highway Pilot. Automatic Emergency Braking and Adaptive Cruise Control are estimated to hold the largest market share between 2018 and 2025. In the US, automatic emergency braking systems are expected to be standard in vehicles by 2022 according to the National Highway Traffic Safety Administration (NHTSA). The market for Blind Spot Detection would grow at the highest CAGR to increase road safety and decrease the number of accidents due to human errors.

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North America is projected to account for the largest share, in terms of volume, of the semi-autonomous and autonomous truck market in 2025 and 2030, respectively. Truck production volumes in the region have increased over the years, with OEMs catering not only to the domestic demand but also to overseas demand.

The European region is estimated to dominate the semi-autonomous truck market, in terms of volume, in 2018. The region comprises technologically advanced countries such as Germany, France, and others. Also, European truck manufacturers such as Daimler (Germany), Volkswagen (Germany), and Volvo (Sweden) are focusing on research and development activities to develop autonomous vehicles. North America is expected to dominate the autonomous truck market (volume) followed by Europe and the Asia Pacific. The region’s key technology innovators such as Waymo (US), Uber (US), and Embark (US) are investing in R&D to test the autonomous vehicle technology.

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Target Audience

Automobile manufacturers
Automotive associations and organizations
Automotive components manufacturers
Automotive dealers and distributors
Automotive experts and investors
Automotive Raw material suppliers
Automotive sensor manufacturers and providers
Automotive Service providers
Companies operating in the autonomous truck eco-system
Electric vehicle manufacturers
EV charging infrastructure providers
Insurance service providers
Truck manufacturers/OEMs
Trucking associations

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