Self-Driving Trucks Market

Global Self-Driving Truck Market by Vehicle Types (Light Duty Trucks, Medium Duty Trucks, and Heavy-duty Trucks), Level of Autonomy (Level 1, Level 2, Level 3, Level 4, and Level 5), Propulsion Types (Diesel, Electric, and Hybrid), Components (LIDAR, Radar, Camera, and Sensors), Applications (Last-mile Delivery Truck and Mining Truck), and Regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027

  • Report ID: ICT-SE-179
  • Author: Growth Market Reports
  • Rating: 5.2
  • Total Reviews: 6
  • No. Of Pages: 165
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The global self-driving truck market size is anticipated to expand at a significant CAGR during the forecast period, from 2020 to 2027, owing to several advantages of self-driving trucks when compared to human drivers such as timely delivery, making the roads safer, and increasing the productivity. A self-driving truck, otherwise known as autonomous truck, requires little to no human intervention. These trucks are primarily used for driving on highways and can require some human intervention to travel through cities and rural areas.

Market Trends, Drivers, Restraints, and Opportunities:

  • Rising prevalence of road accidents and emphasis on improved road safety are key factors driving the global self-driving truck market.
  • The ability of self-driving trucks to alleviate the shortage of truck driver is projected to fuel the market.
  • Several concerns associated with self-driving trucks such as cyber-security is a major factor hindering the market.
  • The introduction of 5G technology and improved IoT solutions are expected to create opportunities in the global market.
  • Various legal and regulatory frameworks issues associated with self-driving trucks are challenging the market.


Scope of the Report:

The report on the global self-driving truck market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Base Year

2019

Historic Data

2017–2019

Forecast Period

2020–2027

Regional Scope

North America, Latin America, Europe, Asia Pacific, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

 

Self-driving Truck Market Segment Insights:

Rising demand for long distance domestic transportations to drive heavy-duty trucks segment growth
Based on vehicle types, the self-driving truck market can be segmented into light duty trucks, medium duty trucks, and heavy-duty trucks. The heavy-duty trucks segment is estimated to hold a significant share of the market due to higher requirement for heavy-duty trucks for domestic transportations. Additionally, heavy-duty trucks are required for long distance transportations, resulting in the high demand for self-driving heavy-duty trucks.

Growing adoption of sensors for short-range object detection fuels the sensorssegment
In terms of components, the market can be categorized as LIDAR, radar, camera, and sensors. The sensors segment accounted for a large share of the market and this trend is estimated to continue during the forecast period. Sensors have short-range and small field of view (FoV); therefore, they are used in self-driving trucks. These sensors are generally used for short range object detection, which is used in ADAS parking features such as smart parking assistance.

Increasing usage of self-driving truck transportation propels the last-mile delivery truck segment
On the basis of applications, the market can be bifurcated into last-mile delivery truck and mining truck. The last-mile delivery truck segment accounted for a substantial share of the market and is estimated to grow at a considerable pace during the forecast period owing to the high usage of driverless trucks for transportation purposes. According to statistics, 14.4 billion tons of commodities are estimated to be transported via trucks in the US in 2030. This is expected to boost the growth of the last-mile delivery truck application segment in the coming years.

North America to lead the global market due to large presence of major manufacturers
In terms of regions, the global self-driving truck market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America held a large share of the market and this trend is anticipated to continue during the forecast period owing to early adoption of novel technology and presence of major market players, especially in the US. Furthermore, continuous investments and innovations made by several established players operating in the market in North America are increasing competition in the regional market. However, the market in Asia Pacific is projected to expand at a high pace due to rising adoption of advanced self-driving trucks for transportations in the region. Additionally, initiatives taken by major US-based manufacturers to increase their presence in the region are fueling the growth of the market in the region.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Self-Driving Trucks Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Self-Driving Trucks Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Self-Driving Trucks Market - Supply Chain
  4.5. Global Self-Driving Trucks Market Forecast
     4.5.1. Self-Driving Trucks Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Self-Driving Trucks Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Self-Driving Trucks Market Absolute $ Opportunity
5. Global Self-Driving Trucks Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Self-Driving Trucks Market Size and Volume Forecast by Applications
     5.3.1. Last-mile Delivery Truck
     5.3.2. Mining Truck
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Self-Driving Trucks Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Self-Driving Trucks Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Self-Driving Trucks Demand Share Forecast, 2019-2026
7. North America Self-Driving Trucks Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Self-Driving Trucks Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Self-Driving Trucks Market Size and Volume Forecast by Applications
     7.4.1. Last-mile Delivery Truck
     7.4.2. Mining Truck
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Self-Driving Trucks Demand Share Forecast, 2019-2026
8. Latin America Self-Driving Trucks Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Self-Driving Trucks Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Self-Driving Trucks Market Size and Volume Forecast by Applications
     8.4.1. Last-mile Delivery Truck
     8.4.2. Mining Truck
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Self-Driving Trucks Demand Share Forecast, 2019-2026
9. Europe Self-Driving Trucks Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Self-Driving Trucks Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Self-Driving Trucks Market Size and Volume Forecast by Applications
     9.4.1. Last-mile Delivery Truck
     9.4.2. Mining Truck
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Self-Driving Trucks Demand Share Forecast, 2019-2026
10. Asia Pacific Self-Driving Trucks Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Self-Driving Trucks Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Self-Driving Trucks Market Size and Volume Forecast by Applications
     10.4.1. Last-mile Delivery Truck
     10.4.2. Mining Truck
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Self-Driving Trucks Demand Share Forecast, 2019-2026
11. Middle East & Africa Self-Driving Trucks Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Self-Driving Trucks Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Self-Driving Trucks Market Size and Volume Forecast by Applications
     11.4.1. Last-mile Delivery Truck
     11.4.2. Mining Truck
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Self-Driving Trucks Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Self-Driving Trucks Market: Market Share Analysis
  12.2. Self-Driving Trucks Distributors and Customers
  12.3. Self-Driving Trucks Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)

By Vehicle Types

By Level of Autonomy

  • Level 1

  • Level 2

  • Level 3

  • Level 4

  • Level 5

By Propulsion Types

  • Diesel

  • Electric

  • Hybrid

By Components

  • LIDAR

  • Radar

  • Camera

  • Sensors

By Applications

  • Last-mile Delivery Truck

  • Mining Truck

By Regions

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East& Africa

Key participants in the global self-driving truck market include AB Volvo, Aptiv PLC, Continental AG, Daimler AG, DENSO Corporation, Embark Trucks, Mercedes-Benz AG, PACCAR Holding B.V., Robert Bosch GmbH, Tesla, Inc, and TuSimple, Inc. They engage in strategies such as mergers & acquisitions, collaborations agreements, and partnerships. Some of the key participants are adopting innovative methods for product launches to strengthen their geographical presence.

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