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Autonomous Trucks: Global Markets 2023-2028

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    Report

  • 158 Pages
  • December 2023
  • Region: Global
  • BCC Research
  • ID: 5460571
Description Jump to:

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 assist 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

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
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

Executive 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.

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.

Growing awareness among customers is boosting demand for vehicles with autonomous and advanced safety features. 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.

Companies Mentioned

  • AB Volvo
  • Aptiv
  • Caterpillar
  • Continental Ag
  • Denso Corp.
  • Einride
  • Kodiak Robotics Inc.
  • Mercedes-Benz Group Ag
  • Paccar Inc.
  • Robert Bosch Gmbh
  • Tesla Inc.
  • Traton Group
  • Tusimple Holdings Inc.
  • TuSimple Inc.
  • Volvo AB
  • Waymo LLC

Table Information

Report AttributeDetails
No. of Pages158
PublishedDecember 2023
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 3.3 Billion
Forecasted Market Value ( USD ) by 2028 $ 6.9 Billion
Compound Annual Growth Rate16.2%
Regions CoveredGlobal
No. of Companies Mentioned16

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About the Autonomous Truck Market

The Autonomous Truck market is a rapidly growing sector within the Telematics and Vehicle Electronics industry. Autonomous Trucks are equipped with advanced sensors, cameras, and other technologies that enable them to navigate roads and highways without the need for a human driver. Autonomous Trucks are designed to improve safety, reduce costs, and increase efficiency in the transportation industry. Autonomous Trucks are also being used to reduce emissions and improve fuel economy. Autonomous Trucks are being developed by a variety of companies, including Waymo, TuSimple, Embark, Starsky Robotics, and Plus. These companies are leveraging the latest technologies to develop autonomous trucking solutions that are reliable, cost-effective, and safe. Autonomous Trucks are expected to revolutionize the transportation industry in the coming years, as they become more widely adopted. Show Less Read more

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