Semi-autonomous & Autonomous Truck Market

Market Leader - Semi-autonomous & Autonomous Truck Market

The global semi-autonomous truck market is estimated to be 260.1 thousand units in 2018 and is projected to reach 1,132 thousand units by 2025, at a CAGR of 23.38% during the forecast period. The global autonomous truck market is estimated to be 15.2 thousand units in 2025 and is projected to reach 81.8 thousand units by 2030, at a CAGR of 39.96% from 2025 to 2030. Factors such as ease of driving, safety & security concerns, and truck driver shortage are expected to foster the growth of the semi-autonomous and autonomous truck market.

The Asia Pacific is the most promising market for semi-autonomous and autonomous truck. It is projected to grow at a high rate during the forecast period. With advantages of high production at low cost and availability of cheap labor, the Asia Pacific region has emerged as a major hub for several automotive OEMs. In addition, OEMs in the Asia Pacific are known to be leaders in the production of trucks in the world and are significant contributors to the Asian economy. North America is projected to lead the semi-autonomous and autonomous truck market, in terms of volume, in 2025 and 2030, respectively, owing to its technologically advanced automotive industry. Government norms and increasing demand for ease in driving have pushed the demand for semi-autonomous and autonomous trucks in this region.

Continuous innovations and developments in autonomous vehicle technology by the automotive truck manufacturers are driving the growth of semi-autonomous and autonomous truck industry. Emerging countries in Asia are playing a crucial role in triggering the growth of semi-autonomous and autonomous vehicle technology. Favorable government policies, which encourage the production of trucks for domestic use and export, are contributing to the growth of semi-autonomous and autonomous truck market in Asian countries such as Japan, China, and South Korea. In Japan, the government plans to develop an intelligent transport system by 2020 and reduce the number of deaths due to road accidents with the help of autonomous and semi-autonomous vehicles. Most of the major OEMs are located in this region along with Tier 1 and Tier 2 suppliers who have also established themselves in this region.

Blind Spot Detection is estimated to be the fastest-growing segment of the global semi-autonomous truck market, by ADAS features. Lane assist is estimated to be the second fastest growing segment in the semi-autonomous truck market, by ADAS features. With increasing stringency of government norms about ADAS and safety features, the demand for Autonomous Emergency Braking technology (Semi-Autonomous), LIDAR (Autonomous), Adaptive cruise control (Semi-autonomous), and Radar (Autonomous) has increased in the US, Europe, South Korea, and Japan. Increasing infrastructural investments, technological developments, and rapid urbanization are expected to drive the growth of the market.

Related Reports:

Semi-autonomous & Autonomous Truck Market by ADAS Feature (ACC, AEB, BSD, HP, IPA, LKA & TJA), Sensor (Camera, LiDAR, Radar, & Ultrasonic), Level of Automation (L1 to L5), Truck Class (Class 1 to Class 8), Propulsion, and Region - Global Forecast to 2030

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Report Code
AT 6314
RI Published ON
5/28/2018
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