The Global Autonomous Truck Market size is projected to reach USD 1,550 million by 2030, from USD 460 million in 2024, at a CAGR of 22.4%. The forecast period is from 2024 to 2030. The autonomous truck technology is the evolution in the trucking and transportation industry, as it can save a considerable amount of money and solve problems like driver shortage and increasing road accidents. Also, after the global pandemic of COVID-19, many e-commerce and shipping companies will be looking to develop autonomous truck delivery options to avoid human contact.
The global semi-autonomous truck market size is projected to reach 3,254 thousand units by 2025, from an estimated 948 thousand units in 2020, at a CAGR of 28.0%. The base year for the report is 2019, and the forecast period is from 2020 to 2025. The semi-autonomous truck segment has witnessed rapid evolution with governments across the world regulating advanced safety features such as AEB and BSD, and OEMs offering trucks with modern driver-assist features.
Top Players
- AB Volvo (Sweden)
- Robert Bosch (Germany)
- Continental AG (Germany)
- Denso (Japan)
- Aptiv (UK)
- Daimler (Germany)
- Paccar (US)
- Nvidia (US)
Top Start-ups
- Embark (US)
- Waymo (US)
- TuSimple (US)
- Tesla (US)
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OEMs worldwide are focusing heavily on research & testing applications leading to continuous advancements in autonomous trucks. For instance, Daimler tested its self-driving truck in September 2019 with the help of Torc Robotics, an autonomous driving technology company. A Swedish startup, Einride, revealed its fully-autonomous truck that does not require any human intervention in May 2019 and will soon be taking trials as well. In August 2019, UPS invested in the autonomous truck maker TuSimple and has been using these autonomous trucks on its delivery routes in the US.
In the semi-autonomous truck market, by propulsion, the diesel segment is projected to dominate the market during the forecast period in terms of volume. As of 2020, OEMs, as well as customers, are still counting on diesel-powered trucks in real-world applications in the logistics industry. Most of the leading OEMs are now offering advanced diesel-powered conventional trucks with many semi-autonomous truck features such as ACC and AEB. Also, due to the increasing demand for advanced features and government bodies emphasizing on regulations for safety features such as AEB and BSD, OEMs have started incorporating these features in their current truck models. The whole scenario is driving the semi-autonomous truck market for diesel propulsion. Currently, there is limited infrastructure for electric vehicles. Also, continuous developments are being made to improve the emission and efficiency of diesel-powered vehicles.
The semi-autonomous and autonomous truck market players are focusing on expanding their businesses in new markets across the world. Asia Pacific is one of the potential markets for semi-autonomous and autonomous trucks. The Asia Pacific region comprises countries, such as China, Japan, and South Korea, which have a technologically advanced automotive industry. Chinese AI company, FABU, developed a self-driving truck in March 2019, which will be used for delivery services by companies, China Post and Deppon Express. A Japanese truck manufacturer, UD Trucks, revealed a level 4 autonomous truck in September 2019, which will be operated on a specified delivery route. Also, a South Korean company, Hyundai, successfully demonstrated a truck platooning technology in November 2019, which was the company’s first attempt at truck platooning. From all these developments, it is evident that the region will have a significant market share in the autonomous truck market. Apart from these testing and trials, it is one of the biggest mining region, especially China. Thus, recent developments in the autonomous technologies for mining trucks would help the Asia Pacific market to grow rapidly.
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The European region to have significant market share in the semi-autonomous and autonomous truck market. The European market is expected to grow, owing to increasing mandates of safety features from governments and OEM initiatives in European countries. For instance, in March 2019, the European Commission reached an interim agreement for revised General Safety Regulation, which will make new safety technologies mandatory in the region from 2022. The revised regulations include systems to improve blind spot vision for trucks, which would boost the BSD segment in the forecast. Europe presents a big growth opportunity for the semi-autonomous market, as the regulations related to safety features such as AEB and BSD are expected to roll out soon. These regulations will be propelling the demand for semi-autonomous trucks. The region is home to many tier-1 automotive component suppliers such as Bosch, Continental, and ZF. These companies offer different semi-autonomous technologies and are developing some innovative ADAS features.
Semi-Autonomous & Autonomous Truck Market and Key Application:
- Level 4 Autonomous Truck – Level 4 trucks are highly automated trucks in which the system controls the steering, acceleration, and braking. The driving environment and dynamic driving tasks are also monitored and performed by the system. A vehicle with level 4 capability can do all the driving, but only in certain circumstances. The autonomous driving system notifies the driver when he can switch to the autonomous driving mode.
- Last Mile Delivery Truck – Last mile delivery trucks are used for logistics purposes in the distribution centre or facility to the end-user. These trucks are witnessing high demand due to the rise of the e-commerce sector. The aim is to be able to deliver goods at consumer end in specific time without delays and to reduce the delivery cost to the company. Using autonomous last mile delivery trucks can help companies save 40% of the total cost.
- Truck Platooning – In truck platooning, two or more trucks are connected in a group with the help of connectivity technologies, autonomous driving, and artificial intelligence support systems such as adaptive cruise control and lane assist. These vehicles automatically keep a set close distance between each other. The truck at the head of the platoon acts as a leader, with the vehicles behind adapting and reacting to changes in its movement, requiring little or no action from the driver.
