The Semi-autonomous & autonomous Trucks and Buses market size is projected to grow from USD 40.7 billion in 2024 to USD 179.9 billion by 2035, at a CAGR of 14.4%. The Semi-autonomous & autonomous Trucks and Buses market is witnessing robust growth driven by increasing demand for electric and autonomous commercial vehicles may drive the market for Semi-autonomous & autonomous Trucks and Buses. Governments are creating new rules and laws to allow companies to test and start using self-driving trucks and buses. This legal support is encouraging businesses to invest in this technology and start using it more. The growing trend of autonomous vehicles and the focus on safety are also expected to increase the demand for Semi-autonomous & autonomous Trucks and Buses.
For instance, OEMs such as AB Volvo (Sweden) and MAN Truck & Bus SE (Germany) are developing diesel engines incorporated with ultra-low sulfur fuel, particulate filters, and advanced emission reduction technologies to achieve emission standards set by regulatory bodies. OEMs are innovating with engine technology, the design of the vehicle, and the addition of various after-treatment devices such as Diesel Particulate Filter (DPF), Diesel Oxidation Catalyst (DOC), Selective Catalytic Reduction (SCR), and Lean NOx-Trap (LNT) to minimize the emissions. The increase in the electronic content of the vehicle helps monitor the emission levels properly.
These advancements include the implementation of ADAS, such as adaptive cruise control, lane keep assist, automatic emergency braking, and sophisticated sensor arrays incorporating LIDAR, radar, and cameras. These features collectively contribute to reducing the incidence of accidents and improving overall driving conditions. In February 2023, AB Volvo (Sweden) commenced trials of its autonomous heavy-duty truck, incorporating advanced ADAS, LIDAR, and AI-driven navigation systems. The trials on highways in Europe aim to evaluate the performance of the truck in real-world conditions, focusing on safety, efficiency, and reliability.
In-depth interviews were conducted with CXOs, marketing directors, other innovation and technology managers, and executives from various key organizations operating in the Semi-autonomous & autonomous Trucks and Buses market. The break-up of the primaries is as follows:
This research report categorizes Semi-autonomous & autonomous Trucks and Buses market by Vehicle Type (Buses and Trucks), Vehicle class (Class 1- class 3, Class 4- class 6, and Class 7- class 8), By ADAS features (Adaptive cruise control (ACC), Automatic emergency braking (AEB), Blind spot detection (BSD), Lane keep assist (LKA), Intelligent park assist (IPA), Traffic jam assist (TJA), and Highway Pilot (HP)), Propulsion type (Diesel, Electric, and Hybrid), By application (Last-mile delivery trucks, Mining trucks, Shuttles, and Intercity/Intracity buses), By sensor type (Cameras, LiDAR, Radar sensors, and Ultrasonic sensors), By Level of autonomy (L1, L2 and L3, L4, and L5) and Region (Asia Pacific, Europe, and North America and rest of the world).
The report's scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Semi-autonomous & autonomous Trucks and Buses market. A detailed analysis of the key industry players provides insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the Semi-autonomous & autonomous Trucks and Buses market. Competitive analysis of SMEs/startups in the Semi-autonomous & autonomous Trucks and Buses market ecosystem is covered in this report.
The Diesel segment is expected to see notable growth opportunities during the forecast period
Diesel is the most preferred fuel for transit bus and truck applications worldwide. The preference for diesel can be attributed to the high passenger carrying capacity, resulting in the requirement of high torque at low speeds and high fuel efficiency in buses and trucks. With the growing demand for ADAS features used in semi-autonomous and autonomous buses and trucks, OEMs such as AB Volvo (Sweden), Daimler Truck AG (Germany), and Iveco Group NV (Italy) are offering these features in diesel vehicles.For instance, OEMs such as AB Volvo (Sweden) and MAN Truck & Bus SE (Germany) are developing diesel engines incorporated with ultra-low sulfur fuel, particulate filters, and advanced emission reduction technologies to achieve emission standards set by regulatory bodies. OEMs are innovating with engine technology, the design of the vehicle, and the addition of various after-treatment devices such as Diesel Particulate Filter (DPF), Diesel Oxidation Catalyst (DOC), Selective Catalytic Reduction (SCR), and Lean NOx-Trap (LNT) to minimize the emissions. The increase in the electronic content of the vehicle helps monitor the emission levels properly.
Class 7- Class 8 segment to show the biggest growth in the Semi-autonomous & autonomous Trucks and Buses market during the forecast period.
In the class 7-8 segment, trucks with GVWR ranging between 26,000 and 33,000 lbs and more than or equal to 33,001 lbs are considered, respectively. In the freight transportation industry, heavy-duty trucks are generally used for the long haul, which means the distance could be around 250 miles or more. The load-carrying capacity of heavy-duty trucks is high. In recent years, significant progress has been made in developing autonomous technologies for heavy-duty trucks.These advancements include the implementation of ADAS, such as adaptive cruise control, lane keep assist, automatic emergency braking, and sophisticated sensor arrays incorporating LIDAR, radar, and cameras. These features collectively contribute to reducing the incidence of accidents and improving overall driving conditions. In February 2023, AB Volvo (Sweden) commenced trials of its autonomous heavy-duty truck, incorporating advanced ADAS, LIDAR, and AI-driven navigation systems. The trials on highways in Europe aim to evaluate the performance of the truck in real-world conditions, focusing on safety, efficiency, and reliability.
China is expected to show substantial growth in the Asia Pacific region for Semi-autonomous & autonomous Trucks and Buses market.
China is one of the largest bus markets in the world. It is also the largest market for electric buses. There are many semi-autonomous and autonomous bus projects which are being conducted in the country. For instance, Yutong, the largest bus producer in China, is testing its driverless level 4 autonomous bus on the roads of Zhengzhou. Well-defined regulations and increasing government support to test autonomous technology are expected to boost the market in the country. Vehicle safety norms, which are the key driving force of the demand for semi-autonomous sensors, are expected to increase the demand in the next five years. For instance, in December 2023, the Chinese government issued safety guidelines for using autonomous vehicles in public transport, the latest in a series of measures preparing for the increased use of driverless buses Several driver assistance system manufacturers, such as Autoliv (Sweden), Denso (Japan), Robert Bosch (Germany), and others have set up manufacturing and distribution facilities in China.In-depth interviews were conducted with CXOs, marketing directors, other innovation and technology managers, and executives from various key organizations operating in the Semi-autonomous & autonomous Trucks and Buses market. The break-up of the primaries is as follows:
- By Company Type: OEMs - 32%, Tier 1 - 37% and Tier 2 & 3 - 28%
- By Designation: CXO - 33%, Managers - 52%, and Executives - 15%
- By Region: North America - 26%, Europe - 30%, Asia Pacific - 35%, and ROW - 9%
Research Coverage:
The study covers the Semi-autonomous & autonomous Trucks and Buses market across various segments. It aims at estimating the market size and future growth potential of this market across different segments such as Vehicle type, By Application, Vehilcle class, Propulsion Type, By ADAS featuers, By sensor type, By Level of autonomy and Region. The study also includes an in-depth competitive analysis of key market players, their company profiles, key observations related to product and business offerings, recent developments, and acquisitions.This research report categorizes Semi-autonomous & autonomous Trucks and Buses market by Vehicle Type (Buses and Trucks), Vehicle class (Class 1- class 3, Class 4- class 6, and Class 7- class 8), By ADAS features (Adaptive cruise control (ACC), Automatic emergency braking (AEB), Blind spot detection (BSD), Lane keep assist (LKA), Intelligent park assist (IPA), Traffic jam assist (TJA), and Highway Pilot (HP)), Propulsion type (Diesel, Electric, and Hybrid), By application (Last-mile delivery trucks, Mining trucks, Shuttles, and Intercity/Intracity buses), By sensor type (Cameras, LiDAR, Radar sensors, and Ultrasonic sensors), By Level of autonomy (L1, L2 and L3, L4, and L5) and Region (Asia Pacific, Europe, and North America and rest of the world).
The report's scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Semi-autonomous & autonomous Trucks and Buses market. A detailed analysis of the key industry players provides insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the Semi-autonomous & autonomous Trucks and Buses market. Competitive analysis of SMEs/startups in the Semi-autonomous & autonomous Trucks and Buses market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Semi-autonomous & autonomous Trucks and Buses market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.The report provides insights on the following pointers:
- Analysis of key drivers (Increasing emphasis on road safety and traffic control, Growing need to address driver shortage, Rising adoption of autonomous technology, and Favorable government regulations and safety standards), restraints (Cybersecurity and data security concerns, Limited public reception, and Lack of infrastructure in developing countries), opportunities (Integration of 5G technology for vehicle connectivity, Growing utilization of advanced technologies, Increasing demand for truck platooning, and Rising focus on automotive IoT), and challenges (High cost of development and integration and Regulatory hurdles) influencing the growth of the Semi-autonomous & autonomous Trucks and Buses market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Semi-autonomous & autonomous Trucks and Buses market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the Semi-autonomous & autonomous Trucks and Buses market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Semi-autonomous & autonomous Trucks and Buses market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Daimler Truck AG (Germany), AB Volvo (Sweden), NVIDIA Corporation (US), Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan) among others in the Semi-autonomous & autonomous Trucks and Buses market.
- Strategies: The report also helps stakeholders understand the pulse of the Semi-autonomous & autonomous Trucks and Buses market and provides them information on key market drivers, restraints, challenges, and opportunities
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Semi-Autonomous & Autonomous Trucks and Buses Market, by Application
7 Semi-Autonomous & Autonomous Trucks and Buses Market, by Adas Features
8 Semi-Autonomous & Autonomous Trucks and Buses Market, by Level of Autonomy
9 Semi-Autonomous & Autonomous Trucks and Buses Market, by Propulsion Type
10 Semi-Autonomous & Autonomous Trucks and Buses Market, by Sensor Type
11 Semi-Autonomous & Autonomous Trucks and Buses Market, by Vehicle Class
12 Semi-Autonomous & Autonomous Trucks and Buses Market, by Vehicle Type
13 Semi-Autonomous & Autonomous Trucks and Buses Market, by Region
14 Competitive Landscape
15 Company Profiles
16 Analyst's Recommendations
17 Appendix
List of Tables
List of Figures
Companies Mentioned
- Ab Volvo
- Daimler Truck AG
- Man Truck & Bus SE
- Iveco S.P.A.
- Paccar Inc.
- Hyundai Motor Corporation
- Aurora Innovation Inc.
- Nvidia Corporation
- Plusai, Inc.
- Continental AG
- Kodiak Robotics Inc.
- Navya
- Yutong Bus Co. Ltd.
- Karsan
- Xiamen King Long United Automotive Industry Co. Ltd.
- Einride
- Weride
- Isuzu Motors
- Sensetime
- Easymile
- Scania
- Zf Friedrichshafen AG
- Uisee
- Coast Autonomous
- Navistar International Inc.
- Tusimple Holdings Inc.
- Alexander Dennis Limited
- Toyota Motor Corporation
- Tesla
- Robert Bosch GmbH
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 348 |
Published | July 2024 |
Forecast Period | 2024 - 2035 |
Estimated Market Value ( USD | $ 40.7 Billion |
Forecasted Market Value ( USD | $ 179.9 Billion |
Compound Annual Growth Rate | 14.4% |
Regions Covered | Global |
No. of Companies Mentioned | 30 |