Report Scope:
This report provides an overview of the global market for autonomous trucks and analyses market trends. Using 2022 as the base year, the report provides estimated market data for the forecast period 2023 through 2028. Revenue forecasts for this period are segmented based on component, autonomy, propulsion type, truck type, end use, and region.
The report also focuses on the major trends and challenges that affect the market and the competitive landscape. It explains the current market trends and provides detailed profiles of the major players and their strategies to enhance their market presence. The report estimates the size of the global autonomous trucks market in 2023 and provides projections of the expected market size through 2028.
Report Includes:
- 40 data tables and 36 additional tables
- An overview of the global market for autonomous trucks
- Analysis of global market trends, featuring historical revenue data for 2022, estimated figures for 2023, as well as forecasts for 2024, 2026 and 2028, including projections for compound annual growth rates (CAGRs) through 2028
- Evaluation of the current market size and revenue growth prospects, accompanied by a market share analysis by component, autonomy, propulsion type, truck type, end use and geographical region
- Coverage of evolving technologies such as automated braking systems, emergency lane assists systems, connectivity systems and navigation systems, and a discussion of their impact on the future of the automobile industry
- Analysis of the current and future market potential and the regulatory framework and reimbursement scenarios
- Review of patents, product pipelines, ESG trends and emerging technologies related to autonomous trucks
- Market share analysis of the key companies and coverage of mergers & acquisitions, joint ventures, collaborations and partnerships, as well as a patent analysis
- Profiles of leading market participants
Summary:
The trucking industry has been developing with increased emphasis on productivity, maximum efficiency and profits. Technological advancements are also supported by environmental regulations and enhanced safety requirements, propelling OEMs to increase R&D investments to develop advanced trucks. Alternative fuels, new materials, virtual reality simulators, advanced aerodynamic designs, improved efficiency engines, stability control systems, virtual dashboards, real-time GPS monitoring, efficient routing software and tire pressure monitoring are just a few of the rapidly growing technologies in the trucking industry. The global market for autonomous trucks was valued at $REDACTED billion in 2022 and is expected to reach $REDACTED billion by the end of 2028. The market is projected to grow at a CAGR of REDACTED% over the forecast period of 2023 through 2028.
Although autonomous trucks have great potential to replace conventional trucks in terms of convenience, the cost of manufacturing, lack of proper infrastructures, inadequate regulations, policies of governments and the safety of commuters and pedestrians are some factors expected to restrain market growth. Some major factors driving market growth include the expansion of industrial sectors in the emerging market, growing demand from the logistics industry and rising demand from the construction sector, due to the increasing number of construction activities. The market is expected to grow in the coming years due to improving economies across developing and developed countries.
This report segments the global autonomous trucks market by component, autonomy, propulsion type, truck type, end use and region. Some emerging trends in the global autonomous trucks market include increasing investments in R&D by major market players to develop advanced technologies for autonomous vehicles, such as artificial intelligence and machine learning. Rising focus on developing electric and hybrid autonomous trucks to lower carbon emissions and enhance sustainability can expand the market. Additionally, integrating connectivity and advanced driver assistance systems (ADAS) is gaining traction to improve safety and efficiency. The adoption of autonomous trucks across the logistics and transportation industry is mostly driven by benefits such as reduced labor costs, improved vehicle utilization and enhanced productivity.
Software accounted for the largest share of the component segment. It was valued at $REDACTED billion in 2022 and is expected to reach $REDACTED billion by the end of 2028. ADAS is forecast to be the fastest-growing segment of the component segment, growing at a CAGR of REDACTED% to reach $REDACTED million by the end of 2028, up from $REDACTED million in 2022. Growing awareness among customers is boosting demand for vehicles with autonomous and advanced safety features. Almost REDACTED% of the customers who opt for any ADAS system in their vehicles become repeat purchasers. Government norms and policies are also boosting sales of the ADAS market globally. Top OEM suppliers have adopted the strategy of partnering with technology companies to develop ADAS. Tech companies such as Nvidia Corporation have entered this space to provide services to companies such as AB Volvo and Paccar Inc.
Autonomous Trucks: Global Markets
Table of Contents
Chapter 1 Introduction
Overview
Study Goals and Objectives
Reasons for Doing the Study
Scope of Report
What's New in this Update?
Research Methodology
Information Sources
Geographic Breakdown
Segmentation Breakdown
Chapter 2 Summary and Highlights
Market Outlook
Market Summary
Chapter 3 Market Overview
Overview
Value Chain Analysis
PESTEL Analysis
Government Regulations
Porter's Five Forces Analysis
Threat of New Entrants
Bargaining Power of Suppliers
Bargaining Power of Buyers
Threat of Substitutes
Industry Competition
Autonomous Trucks: Looking Ahead
The Russia-Ukraine War's Impact on the Market
Chapter 4 Market Dynamics
Overview
Market Drivers
Growing Emphasis on Improved Road Safety and Traffic Control
Reduced Emissions and Higher Fuel Efficiency of Autonomous Trucks
Improved Technological Landscape
Market Challenges
Inconsistent Regulatory Framework
Lack of IT and Communication Infrastructure in Developing Nations
Market Opportunities
Growth of Connected Infrastructures
Development of Intelligent Transportation Systems
Chapter 5 Emerging Technologies and Developments
Overview
Future Scope of Autonomous Trucks
Application of Emerging Technologies in Autonomous Trucks
Artificial Intelligence
Machine Learning
Advanced Driver-Assistance System
Light Detection and Ranging
Chapter 6 Market Breakdown by Component
Overview
Software
Hardware
Chapter 7 Market Breakdown by Autonomy
Overview
Semi-Autonomous
Full Autonomous
Chapter 8 Market Breakdown by Propulsion Type
Overview
IC Engines
Electric
Hybrid
Chapter 9 Market Breakdown by Truck Type
Overview
Light-Duty
Medium-Duty
Heavy-Duty
Chapter 10 Market Breakdown by End Use
Overview
Logistics and Transportation
Manufacturing
Mining
Other End Use
Port
Oil and Gas
Chemicals
Agriculture
Construction
Chapter 11 Market Breakdown by Region
Overview
North America
The U.S.
Canada
Mexico
Europe
The U.K.
Germany
Asia-Pacific
China
India
Japan
Rest of the World
Chapter 12 Sustainability in Autonomous Trucks Industry: An ESG Perspective
Key ESG Issues in the Autonomous Trucks Market
Carbon Footprint/Environmental Impact
Animal Welfare
Labor Practices
Transparency and Governance
Autonomous Trucks Market ESG Performance Analysis
Environmental Performance
Social Performance
Governance Performance
Current Status of ESG Risk Ratings and Levels for Companies in the Autonomous Trucks Market
Consumer Attitudes Towards ESG in the Autonomous Trucks Market
ESG Practices in the Autonomous Trucks Market
Case Study
Environmental Initiatives
Social Initiatives
Governance Initiatives
Outcomes
Investments
Concluding Remarks from BCC Research
Chapter 13 Patent Analysis
Overview
Granted Patents (2020-2023)
Recently Awarded Patents
Chapter 14 M&A and Venture Funding Outlook
Mergers and Acquisitions Analysis
Startup Fundings in Autonomous Trucks Market
Chapter 15 Competitive Intelligence
Vendor Landscape
Market Share Analysis
Volvo AB
Paccar Inc.
Mercedes-Benz Group AG
Traton Group
TuSimple Inc.
Strategic Analysis
Chapter 16 Company Profiles
AB VOLVO
APTIV
CATERPILLAR
CONTINENTAL AG
DENSO CORP.
EINRIDE
KODIAK ROBOTICS INC.
MERCEDES-BENZ GROUP AG
PACCAR INC.
ROBERT BOSCH GMBH
TESLA INC.
TUSIMPLE HOLDINGS INC.
WAYMO LLC
Chapter 17 Appendix: Abbreviations
List of Tables
Summary Table : Global Market for Autonomous Trucks, by Component, Through 2028
Table 1 : PESTEL Analysis of Autonomous Trucks
Table 2 : Global Market for Autonomous Trucks, by Component, Through 2028
Table 3 : Hardware Components and Applications
Table 4 : Global Market for Autonomous Trucks, by Autonomy, Through 2028
Table 5 : Global Market for Autonomous Trucks, by Propulsion Type, Through 2028
Table 6 : Global Market for Autonomous Trucks, by Truck Type, Through 2028
Table 7 : Global Market for Autonomous Trucks, by End Use, Through 2028
Table 8 : Global Market for Autonomous Trucks, by Region, Through 2028
Table 9 : North American Market for Autonomous Trucks, by Country, Through 2028
Table 10 : North American Market for Autonomous Trucks, by Component, Through 2028
Table 11 : North American Market for Autonomous Trucks, by Autonomy, Through 2028
Table 12 : North American Market for Autonomous Trucks, by Propulsion Type, Through 2028
Table 13 : North American Market for Autonomous Trucks, by Truck Type, Through 2028
Table 14 : North American Market for Autonomous Trucks, by End Use, Through 2028
Table 15 : European Market for Autonomous Trucks, by Country, Through 2028
Table 16 : European Market for Autonomous Trucks, by Component, Through 2028
Table 17 : European Market for Autonomous Trucks, by Autonomy, Through 2028
Table 18 : European Market for Autonomous Trucks, by Propulsion Type, Through 2028
Table 19 : European Market for Autonomous Trucks, by Truck Type, Through 2028
Table 20 : European Market for Autonomous Trucks, by End Use, Through 2028
Table 21 : Asia-Pacific Market for Autonomous Trucks, by Country, Through 2028
Table 22 : Asia-Pacific Market for Autonomous Trucks, by Component, Through 2028
Table 23 : Asia-Pacific Market for Autonomous Trucks, by Autonomy, Through 2028
Table 24 : Asia-Pacific Market for Autonomous Trucks, by Propulsion Type, Through 2028
Table 25 : Asia-Pacific Market for Autonomous Trucks, by Truck Type, Through 2028
Table 26 : Asia-Pacific Market for Autonomous Trucks, by End Use, Through 2028
Table 27 : RoW Market for Autonomous Trucks, by Component, Through 2028
Table 28 : RoW Market for Autonomous Trucks, by Autonomy, Through 2028
Table 29 : RoW Market for Autonomous Trucks, by Propulsion Type, Through 2028
Table 30 : RoW Market for Autonomous Trucks, by Truck Type, Through 2028
Table 31 : RoW Market for Autonomous Trucks, by End Use, Through 2028
Table 32 : Environmental ESG Metrics for AB Volvo, 2022
Table 33 : Social ESG Metrics for AB Volvo, 2022
Table 34 : Governance ESG Metrics for AB Volvo, 2022
Table 35 : ESG Risk Ratings of Autonomous Trucks Companies, by Score and Level, 2022
Table 36 : M&A Deals in the Autonomous Trucks Industry, January 2021 to October 2023
Table 37 : Startup Funding in Autonomous Trucks, by Date, January 2021 to December 2022
Table 38 : Autonomous Trucks Vendor Landscape
Table 39 : Recent Developments in the Autonomous Trucks Market, Jan. 2020 to Oct. 2023
Table 40 : AB Volvo: Financial Overview, 2022
Table 41 : AB Volvo: Recent Developments, Oct. 2020 to June 2023
Table 42 : AB Volvo: Product Portfolio
Table 43 : Aptiv: Financial Overview, 2022
Table 44 : Aptiv: Recent Developments, Aug. 2020 to Jan. 2023
Table 45 : Aptiv: Product Portfolio
Table 46 : Caterpillar: Financial Overview, 2022
Table 47 : Caterpillar: Recent Developments, 2021
Table 48 : Caterpillar: Product Portfolio
Table 49 : Continental AG: Financial Overview, 2022
Table 50 : Continental AG: Recent Developments, 2023
Table 51 : Continental AG: Product Portfolio
Table 52 : Denso Corp.: Financial Overview, 2021
Table 53 : Denso Corp.: Recent Developments, 2021
Table 54 : Denso Corp.: Product Portfolio
Table 55 : Einride: Recent Developments, 2023
Table 56 : Einride: Product Portfolio
Table 57 : Kodiak Robotics Inc.: Recent Developments, 2023
Table 58 : Kodiak Robotics Inc.: Product Portfolio
Table 59 : Mercedes-Benz Group AG: Financial Overview, 2021
Table 60 : Mercedes-Benz Group AG: Recent Developments, Oct. 2020 to July 2021
Table 61 : Mercedes-Benz Group AG: Product Portfolio
Table 62 : PACCAR Inc.: Financial Overview, 2022
Table 63 : PACCAR Inc.: Recent Developments, Sept. 2021 to Jan. 2022
Table 64 : PACCAR Inc.: Product Portfolio
Table 65 : Robert Bosch GmbH: Financial Overview, 2021
Table 66 : Robert Bosch GmbH: Recent Developments, 2023
Table 67 : Robert Bosch GmbH: Product Portfolio
Table 68 : Tesla Inc.: Financial Overview, 2022
Table 69 : Tesla Inc.: Product Portfolio
Table 70 : TuSimple Holdings Inc.: Financial Overview, 2022
Table 71 : TuSimple Holdings Inc.: Recent Developments, Dec. 2022 to June 2023
Table 72 : TuSimple Holdings Inc.: Product Portfolio
Table 73 : Waymo LLC: Recent Developments, March 2020 to Aug. 2021
Table 74 : Waymo LLC: Product Benchmarking
Table 75 : Abbreviations Used in this Report
List of Figures
Summary Figure : Global Market Share of Autonomous Trucks, by Component, 2022
Figure 1 : Value Chain Analysis of the Market for Autonomous Trucks
Figure 2 : Porter's Five Forces Analysis of the Autonomous Trucks Industry
Figure 3 : Future of Autonomous Trucks, 2021
Figure 4 : Trends in Global Market for Autonomous Trucks
Figure 5 : Application of Emerging Technologies in Autonomous Trucks
Figure 6 : Global Market Share of Autonomous Trucks, by Component, 2022
Figure 7 : Global Market Share of Autonomous Trucks, by Autonomy, 2022
Figure 8 : Global Market Share of Autonomous Trucks, by Propulsion Type, 2022
Figure 9 : Global Market Share of Autonomous Trucks, by Truck Type, 2022
Figure 10 : Global Market Share of Autonomous Trucks, by End Use, 2022
Figure 11 : Global Market Share of Autonomous Trucks, by Region, 2022
Figure 12 : North American Market Share of Autonomous Trucks, by Country, 2022
Figure 13 : North American Market Share of Autonomous Trucks, by Component, 2022
Figure 14 : North American Market Share of Autonomous Trucks, by Autonomy, 2022
Figure 15 : North American Market Share of Autonomous Trucks, by Propulsion Type, 2022
Figure 16 : North American Market Share of Autonomous Trucks, by Truck Type, 2022
Figure 17 : North American Market Share of Autonomous Trucks, by End Use, 2022
Figure 18 : European Market Share of Autonomous Trucks, by Country, 2022
Figure 19 : European Market Share of Autonomous Trucks, by Component, 2022
Figure 20 : European Market Share of Autonomous Trucks, by Autonomy, 2022
Figure 21 : European Market Share of Autonomous Trucks, by Propulsion Type, 2022
Figure 22 : European Market Share of Autonomous Trucks, by Truck Type, 2022
Figure 23 : European Market Share of Autonomous Trucks, by End Use, 2022
Figure 24 : Asia-Pacific Market Share of Autonomous Trucks, by Country, 2022
Figure 25 : Asia-Pacific Market Share of Autonomous Trucks, by Component, 2022
Figure 26 : Asia-Pacific Market Share of Autonomous Trucks, by Autonomy, 2022
Figure 27 : Asia-Pacific Market Share of Autonomous Trucks, by Propulsion Type, 2022
Figure 28 : Asia-Pacific Market Share of Autonomous Trucks, by Truck Type, 2022
Figure 29 : Asia-Pacific Market Share of Autonomous Trucks, by End Use, 2022
Figure 30 : RoW Market Share of Autonomous Trucks, by Component, 2022
Figure 31 : RoW Market Share of Autonomous Trucks, by Autonomy, 2022
Figure 32 : RoW Market Share of Autonomous Trucks, by Propulsion Type, 2022
Figure 33 : RoW Market Share of Autonomous Trucks, by Truck Type, 2022
Figure 34 : RoW Market Share of Autonomous Trucks, by End Use, 2022
Figure 35 : Autonomous Trucks Patents Published, by Year, 2020-2023*
Figure 36 : Share of M&A Deals in the Autonomous Trucks Industry, by Region, 2021-2023
Figure 37 : Startup Fundings in the Autonomous Trucks Market, by Various Rounds, January 2021 to December 2022
Figure 38 : Global Market Share of Autonomous Trucks, by Major Vendors, 2022
Figure 39 : Recent Developments in the Autonomous Trucks Market, Strategy Share, January 2020 to October 2023
Figure 40 : AB Volvo: Annual Revenue, 2021 and 2022
Figure 41 : AB Volvo: Revenue Share, by Business Segment, 2022
Figure 42 : AB Volvo: Revenue Share, by Region, 2022
Figure 43 : Aptiv: Annual Revenue, 2021 and 2022
Figure 44 : Aptiv: Revenue Share, by Business Segment, 2022
Figure 45 : Aptiv: Revenue Share, by Region, 2022
Figure 46 : Caterpillar: Annual Revenue, 2021 and 2022
Figure 47 : Caterpillar: Revenue Share, by Business Segment, 2022
Figure 48 : Caterpillar: Revenue Share, by Region, 2022
Figure 49 : Continental AG: Annual Revenue, 2021 and 2022
Figure 50 : Continental AG: Revenue Share, by Business Segment, 2022
Figure 51 : Continental AG: Revenue Share, by Country/Region, 2022
Figure 52 : Denso Corp.: Annual Revenue, 2020 and 2021
Figure 53 : Denso Corp.: Revenue Share, by Business Segment, 2022
Figure 54 : Denso Corp.: Revenue Share, by Country/Region, 2022
Figure 55 : Mercedes-Benz Group AG: Annual Revenue, 2020 and 2021
Figure 56 : Mercedes-Benz Group AG: Revenue Share, by Business Segment, 2022
Figure 57 : Mercedes-Benz Group AG: Revenue Share, by Region, 2022
Figure 58 : PACCAR Inc.: Annual Revenue, 2021 and 2022
Figure 59 : PACCAR Inc.: Revenue Share, by Business Segment, 2022
Figure 60 : PACCAR Inc.: Revenue Share, by Country/Region, 2022
Figure 61 : Robert Bosch GmbH: Annual Revenue, 2020 and 2021
Figure 62 : Robert Bosch GmbH: Revenue Share, by Business Segment, 2022
Figure 63 : Robert Bosch GmbH: Revenue Share, by Region, 2022
Figure 64 : Tesla Inc.: Annual Revenue, 2021 and 2022
Figure 65 : Tesla Inc.: Revenue Share, by Business Segment, 2022
Figure 66 : Tesla Inc.: Revenue Share, by Country/Region, 2022
Figure 67 : TuSimple Holdings Inc.: Annual Revenue, 2021 and 2022
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