Delray Beach, FL, May 06, 2025 (GLOBE NEWSWIRE) -- Autonomous Trucks 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%, as per the recent study by MarketsandMarkets™. The increasing demand for electric and autonomous vehicle and government regulation regarding safety is expected to increase the demand for autonomous trucks. Additionally, continuous innovation in advance driving technologies and components will boost the demand for autonomous trucks.
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List of Key Players in Autonomous Trucks Market:
- Daimler Truck AG (Germany)
- AB Volvo (Sweden)
- Scania (Sweden)
- NVIDIA Corporation (US)
- Robert Bosch GmbH (Germany)
- Continental AG (Germany)
- Denso Corporation (Japan)
- Aurora Innovation Inc. (US)
Drivers, Opportunities and Challenges in Autonomous Trucks Market:
- Driver: Rising adoption of automation technology
- Restraint: Lack of infrastructure in developing countries
- Opportunity: Surge in demand for truck platooning
- Challenge: Regulatory hurdles
Key Findings of the Study:
- LiDAR segment is estimated to exhibit the fastest growth in autonomous trucks market
- Last-mile Delivery Truck segment is expected to have significant growth in autonomous trucks market during the forecast period
- Europe region holds the largest share of the autonomous trucks market.
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Automation is another important element in the industry. As self-driving technology enables automobiles to function safely and effectively, the automotive industry is offering more levels of automation. Key components of autonomous driving technology include adaptive cruise control, automatic emergency braking, and lane maintain assistance. These features not only increase safety but also bring the vehicle closer to total autonomy. Additionally, buses and trucks have increasingly sophisticated sensors, cameras, radars, and software to see and react to their environment as automakers invest more money in developing self-driving technology. As a result, the increasing demand for autonomous car manufacturing has spurred partnerships, investments, and technical developments that encourage creativity. Many Tier 1 suppliers are working with OEMs to design and integrate ADAS. For example, Robert Bosch GmbH in Germany and Magna International in Canada are engaged in such a task. Last month, Magna International introduced the ClearView vision system for the Ram 2500 and 3500 heavy-duty pickup trucks, which it claimed enhanced maneuverability and parking capabilities.
Truck platooning is a convoy of commercial vehicles that are closely controlled to travel in coordination with the help of connectivity technologies, autonomous driving systems, and artificial intelligence. The first vehicle is a leader for the entire platoon; all subsequent vehicles can move at varying speeds and change lanes according to the leader's behavior, requiring minimal driver intervention. The design of autonomous truck platooning is coming along with an increasing demand for fuel efficiency and the need to solve traffic congestion. Adaptive cruise control between platooning trucks enhances fuel economy by allowing the trucks to travel at a constant speed while maintaining close following distances. Other benefits of platooning include reducing traffic congestion by allowing other vehicles on the road and providing a smooth traffic flow on busy routes.
The US is anticipated to hold the greatest market share in terms of value in the North American autonomous truck industry because of the NHTSA's stringent safety rules, which have forced OEMs to include safety measures. Road safety is essential for effective transit. Autonomous trucks have the potential to increase safety, which would benefit the local economy. To further improve the performance of their vehicles, major OEMs in the area are entering into supply agreements for goods like sensors and LiDAR. Daimler Truck AG (Germany) and TORC Robotics (US) chose Aeva Technologies (US) in January 2024, for example, to supply cutting-edge 4D LiDAR technology for the mass manufacture of autonomous trucks.
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Recent Developments:
- In March 2024, MAN Truck & Bus SE partnered with TRATON GROUP, Scania, Navistar International Inc., and PlusAI, Inc. for autonomous driving for trucks. In February 2024, MAN Truck & Bus SE expanded its logistics center in Salzgitter, Germany, strengthening its global service parts network. In January 2024, Daimler Truck AG partnered with Aeva Inc. and Torc Robotics to commercialize self-driving vehicle technology to equip its series-produced autonomous trucks with Aeva Inc.'s advanced 4D LiDAR sensors. In December 2023, Demy Schandeler and AB Volvo entered into a contract for fifteen e-buses to upgrade the present Volvo 7900 Electric, which are scheduled for delivery in the first half of 2025. In October 2023, Hyundai Motor Company and Iveco S.p.A collaborated to develop and deploy electric heavy-duty trucks in Europe, focusing on autonomous driving technologies. In September 2023, AB Volvo partnered with Boliden to integrate autonomous transport solutions into mining operations.
- In July 2023, IVECO S.p.A and PlusAI, Inc. announced that the IVECO S-Way truck, equipped with PlusDrive, is operational on public roads in Germany. In June 2023, Aurora Innovation Inc. launched the Aurora Multi-Sensor Dataset, a large-scale multi-sensor dataset in collaboration with the University of Toronto. In May 2023, Daimler Truck AG, Mitsubishi Fuso Truck and Bus Corporation, Hino Motors Ltd., and Toyota Motor Corporation signed an MoU. In April 2023, Continental AG and Aurora Innovation Inc. have entered an exclusive partnership to manufacture future generations of Aurora’s flagship integrated hardware and software systems, such as Aurora Driving, aiming for commercial scalability. In February 2023, AB Volvo Venture Capital AB invested in Waabi Innovation Inc. to transform the freight transportation sector by accelerating the development and deployment of cutting-edge autonomous trucking solutions.
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