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.
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 |
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.
By Vehicle Types
Medium Duty Trucks
Heavy-Duty Trucks
By Level of Autonomy
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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