Global Autonomous Trucking Market Share to witness a CAGR of 35% through 2028

By Sachin Pashte  | Date: January 03, 2023

Global Autonomous Trucking Market Share to witness a CAGR of 35% through 2028

Expert analysts opine that global Autonomous Trucking Market is estimated to progress at a CAGR of 35% through the forecast period to amass USD 4.8 billion by the end of 2028.

Development of sensor technologies, rising product demand from the logistics & construction sector, and numerous startups partnering up with fleets to improve their commercial viability are the major factors responsible for global autonomous trucking market growth.

Furthermore, while autonomous features have the potential to minimize fuel usage, heavy-duty vehicles are responsible for a significant portion of local and greenhouse gas emissions. These elements are increasing product uptake, thereby accelerating the progress of the business landscape.

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However, external forces such as the onset of the COVID-19 pandemic and the resulting lockdown restrictions, repercussions brought about by the war between Russia & Ukraine, and UK’s exit from the European Union not only jeopardized the global economy but also severely limited the chances of amplified profitability for market over the past few years.

Despite substantial losses, worldwide autonomous trucking industry is expected to grow at a commendable pace in the upcoming years, owing to a decline in the number of COVID infections as well the improved availability of vaccines.

Based on level of autonomy, the market is divided into level 4, level 3, level 2, and level 1. In terms of sensor type, the industry is branched into LiDAR, camera, ultrasonic, and radar. On the basis of propulsion, the market is classified into electric, diesel, and others. Speaking of truck type, the industry is categorized into heavy duty truck, medium duty truck, and light duty truck. By ADAS features, the industry is segregated into Traffic Jam Assist (TJA), Highway Pilot (HP), Intelligent Park Assist (IPA), Blind Spot Detection (BSD), Automatic Emergency Braking (AEB), Lane Keep Assist (LKA), and Adaptive Cruise Control (ACC).

Regionally, the latest trends are studied across Western Europe (UK, Benelux, France, Spain, Nordic, Germany, Italy, rest of Western Europe), Asia Pacific (Australia, South Korea, China, ASEAN, India, Japan, Rest of APAC), Middle East & Africa (GCC, Turkey, South Africa, Rest of MEA), Latin America (Mexico, Brazil, Rest of Latin America), Eastern Europe (Poland, Russia, rest of Eastern Europe), and North America (U.S. and Canada).

The competitive landscape of global autonomous trucking industry is influenced by players like MAN Truck & Bus SE, Tesla, Inc., Sinotruk (Hong Kong) Limited, Scania AB, Navistar International, Inc., Iveco, S.p.A, Hino Motors, Ltd., Dongfeng Motor Corporation Ltd., Daimler AG, and The Volvo Group. These major corporations have embraced product launches, collaborations, and acquisitions as their primary developmental strategies to provide clients with superior products and services.

Questions and Answers: - Global Autonomous Trucking Market

Question 1. What are the major factors driving global autonomous trucking market trends?

Answer 1. Development of sensor technologies, rising product demand from the logistics & construction sector, and numerous startups partnering up with fleets to improve their commercial viability are the major factors responsible for global autonomous trucking market growth.

Question 2. How is the ADAS features category in global autonomous trucking market divided?

Answer 2. By ADAS features, the industry is segregated into Traffic Jam Assist (TJA), Highway Pilot (HP), Intelligent Park Assist (IPA), Blind Spot Detection (BSD), Automatic Emergency Braking (AEB), Lane Keep Assist (LKA), and Adaptive Cruise Control (ACC).

Question 3. Which are the key players influencing global autonomous trucking market dynamics?

Answer 3. The competitive landscape of global autonomous trucking industry is influenced by players like MAN Truck & Bus SE, Tesla, Inc., Sinotruk (Hong Kong) Limited, Scania AB, Navistar International, Inc., Iveco, S.p.A, Hino Motors, Ltd., Dongfeng Motor Corporation Ltd., Daimler AG, and The Volvo Group.

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About Author

Sachin Pashte     ibmag.com

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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