Autonomous Truck Market - Growth, Trends, and Forecast (2020 - 2025)

The autonomous truck market has been segmented by type (light duty trucks, medium duty trucks and heavy duty trucks), level of autonomy (level 0, level 1, level 2, level 3, level 4, level 5), ADAS features (Adaptive Cruise Control (ACC), Lane Departure Warning, Intelligent Park Assist, Highway Pilot, Automatic Emergency Braking (AEB), Blind Spot Detection (BSD), Traffic Jam Assist, Lane Keeping Assist System), Component Types (LIDAR, RADAR, Camera and Sensors), Drive Type (IC engine, electric and hybrid) and geography.

Market Snapshot

Study Period:

2020-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

18.6 %

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Market Overview

The autonomous truck market is expected to exhibit a CAGR of 18.6% during the forecast period (2020-2025).

  • Some of the major factors driving the growth of the market are the expansion of industrial sectors in the emerging market, growing demand from the logistics industry, rising demand from construction sector (owing to growing construction activities). The market is expected to witness growth in the coming years, owing to growing economies across both developing and developed counties.
  • Although autonomous/driverless trucks have a great potential to replace the conventional trucks in terms of convenience-high cost of manufacturing, lack of proper infrastructures, inadequate regulations and policies of governments and safety of commuters and pedestrians are some of the reasons that are acting as a hinderance in the growth. There have been 36 reported accidents involving autonomous vehicles.
  • The rising demand for vehicle safety and stringent government rules are driving the ADAS market growth. National Highway Traffic Safety Administration (NHTSA) makes it mandatory for all the trucks with weight range 8501 lb. to 10000 lb. to be equipped with Automatic Emergency Braking by September 1, 2022. United Kingdom has also set up Centre for Connected and Autonomous Vehicles (CAV) that is working towards establishing laws and regulations to allow vehicle testing on highways and roads.

Scope of the Report

The autonomous truck market covers the latest trends and technological development in the autonomous truck, demand of the truck type, level of autonomy, ADAS features, Drive Type, component type, geography and market share of major autonomous truck manufacturers across the world.

Type
Light Duty Trucks
Medium Duty Trucks
Heavy Duty Trucks
Level Of Autonomy
Level 1
Level 2
Level 3
Level 4
Level 5
ADAS Features
Adaptive Cruise Control
Lane Warning System
Intelligent Park Assist
Highway Pilot
Automatic Emergency Braking
Blind Spot Detection
Traffic Jam Assist
Lane Keeping Assist System
Component Types
LIDAR
RADAR
Camera
Sensors
Drive Type
IC Engine
Electric
Hybrid
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
United Arab Emirates
Saudi Arabia
South Africa
Egypt
Rest of Middle East and Africa

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Key Market Trends

ADAS demand is on the rise

Rising awareness among customers is leading to growth in demand for vehicles with autonomous and advanced safety features. 90% of the customers who opt for any ADAS system in their vehicle, become repeat purchasers. Government norms and policies are also boosting the sales of the ADAS market. US and European authorities make installation of Automotive Emergency Braking (AEB) mandatory by 2022 and Forward Collision Avoidance/Warning System by 2020.

Currently, the complete ADAS systems are featured in expensive luxury segment vehicles only. Many truck OEMS are now collaborating with ADAS manufacturing companies to produce low cost ADAS systems. However, vehicles (commercial and passenger) register a minute average annual growth of 1% in their prices while ADAS systems are expensive due to their high manufacturing cost. OEMs may show reluctancy in increasing the prices of small and mid-sized vehicle segment and ADAS companies might not get the expected return. This factor might hinder the growth of ADAS market.

Suppliers of top OEMs have adopted the strategy of partnering with technology companies to develop ADAS. Tech companies such as Nvidia have entered this space for providing services to companies such as Volvo and Paccar. Amazon is using Embark’s self-driving trucks to deliver its cargo.

Passive safety (safety measures to prevent drivers from injuries during or after the crash) has seen a lot of innovations in the past decades and very little scope of improvement is left to make in the markets of developed geographies. Companies are now focusing on providing best passive safety in developing markets. Active Safety (to predict and avoid crashes) is in its initial stage and has a lot to offer. Any ADAS technology that gets early approval of majority of players will play a crucial role in development of fully autonomous vehicles in future.

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North America is leading the autonomous truck market

Although adoption of Autonomous trucks is in the early stage of adoption across the globe in geographies such as Europe and Asia Pacific, North America is currently the largest market due to availability of infrastructure and major technology companies that are entering autonomous driving segment.

The rising electrification of vehicles due to infrastructure development by companies such as Tesla is also propelling the market in North America. Induction of x-by-wire technology in electric vehicles is helping in improvement of autonomous driving.

In 2019, United Parcel Service (UPS) started using autonomous trucks by TuSimple to deliver cargo in North America. TuSimple uses trucks and semis made by Navistar and installs self-driving technology on them. Currently the delivery trucks use LiDAR sensors but TuSimple will soon introduce its vision based autonomous driving system.

In 2019, Daimler Trucks North America partnered with Torc Robotics and started testing autonomous trucks at Interstate 81 in Virginia. At CES 2020, Kenworth Truck Co. unveiled its autonomous truck technology based on T680 truck at. The autonomous truck makes use of sensors and LiDAR and collects up to 1 terabyte of data per hour during driving.

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Competitive Landscape

The autonomous truck market is a strongly consolidated market dominated by players such as Daimler, Volvo, Tesla, etc. The main strategy adopted by players is the collaboration with technology companies to integrate services such as artificial intelligence (AI), robotics, advanced analytics, Internet of Things, Cloud technology, etc. in production and operation of autonomous trucks.

  • In 2019, Volvo Group announced partnership with Nvidia to produce self-driving trucks. Both companies will work on development of DRIVE AGX Pegasus platform to integrated AI to process driving data.
  • Sina Corp. and Nvidia backed trucking company TuSimple achieved the Unicorn status and raised USD 95 million in series D funding in 2019.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Light Duty Trucks

      2. 5.1.2 Medium Duty Trucks

      3. 5.1.3 Heavy Duty Trucks

    2. 5.2 Level Of Autonomy

      1. 5.2.1 Level 1

      2. 5.2.2 Level 2

      3. 5.2.3 Level 3

      4. 5.2.4 Level 4

      5. 5.2.5 Level 5

    3. 5.3 ADAS Features

      1. 5.3.1 Adaptive Cruise Control

      2. 5.3.2 Lane Warning System

      3. 5.3.3 Intelligent Park Assist

      4. 5.3.4 Highway Pilot

      5. 5.3.5 Automatic Emergency Braking

      6. 5.3.6 Blind Spot Detection

      7. 5.3.7 Traffic Jam Assist

      8. 5.3.8 Lane Keeping Assist System

    4. 5.4 Component Types

      1. 5.4.1 LIDAR

      2. 5.4.2 RADAR

      3. 5.4.3 Camera

      4. 5.4.4 Sensors

    5. 5.5 Drive Type

      1. 5.5.1 IC Engine

      2. 5.5.2 Electric

      3. 5.5.3 Hybrid

    6. 5.6 Geography

      1. 5.6.1 North America

        1. 5.6.1.1 United States

        2. 5.6.1.2 Canada

        3. 5.6.1.3 Mexico

        4. 5.6.1.4 Rest of North America

      2. 5.6.2 Europe

        1. 5.6.2.1 Germany

        2. 5.6.2.2 United Kingdom

        3. 5.6.2.3 France

        4. 5.6.2.4 Russia

        5. 5.6.2.5 Spain

        6. 5.6.2.6 Rest of Europe

      3. 5.6.3 Asia Pacific

        1. 5.6.3.1 China

        2. 5.6.3.2 Japan

        3. 5.6.3.3 India

        4. 5.6.3.4 South Korea

        5. 5.6.3.5 Rest of Asia-Pacific

      4. 5.6.4 South America

        1. 5.6.4.1 Brazil

        2. 5.6.4.2 Argentina

        3. 5.6.4.3 Rest of South America

      5. 5.6.5 Middle East and Africa

        1. 5.6.5.1 United Arab Emirates

        2. 5.6.5.2 Saudi Arabia

        3. 5.6.5.3 South Africa

        4. 5.6.5.4 Egypt

        5. 5.6.5.5 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Volvo Group

      2. 6.2.2 Mercedes

      3. 6.2.3 Daimler

      4. 6.2.4 Kenworth

      5. 6.2.5 Navistar

      6. 6.2.6 TuSimple

      7. 6.2.7 Fabu Technology

      8. 6.2.8 Tesla

      9. 6.2.9 DAF

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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