According to a new market report published by Lucintel, the future of the global semi-autonomous and autonomous truck market looks promising with opportunities in the diesel, electric, and hybrid vehicle segments. The global semi-autonomous and autonomous truck market is expected to decline in 2020 due to the global economic recession led by the COVID-19 pandemic. However, the market will witness recovery in the year 2021, and it is expected to grow at a CAGR of 29% from 2021to 2026. The major drivers for this market are increase in road accidents, government regulations for safety features, reduction in delivery & transportation cost, and the increasing need for efficient and modern trucks.
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In this market, camera, radar, LIDAR, and ultrasonic sensors are the major sensors used to manufacture semi-autonomous and autonomous trucks. On the basis of comprehensive research, Lucintel forecasts that ultrasonic sensors will remain the largest segment, and it is also expected to witness the highest growth over the forecast period because of short-range object detection and cost effectiveness.
Within the global semi-autonomous and autonomous truck market, the last-mile delivery truck segment is expected to witness the highest growth over the forecast period due to cost saving and the shortage of human delivery driver/personnel and increasing e-commerce.
North America is expected to remain the largest market, as it is a leader in autonomous technology. APAC is expected witness the highest growth over the forecast period due to China and Japan’s rapid progress towards vehicle automation and increasing safety regulations by various countries.
Emerging trends, which have a direct impact on the dynamics of the industry, include usage of autonomous trucks for e-commerce deliveries and growing adoption of AI technology. Continental, Bosch, Aptiv, AB Volvo, and Denso are among the major suppliers of the semi-autonomous and autonomous truck market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global semi-autonomous and autonomous truck market by level of automation, propulsion, application, truck class, ADAS feature, sensor, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Semi-Autonomous and Autonomous Truck Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global semi-autonomous and autonomous truck market by level of automation, propulsion, application, truck class, ADAS feature, sensor, and region, as follows:
By Propulsion Type [Value ($ Million) from 2015 to 2026]:
By Level of Automation [Value ($ Million) from 2015 to 2026]:
Level 1
Level 2 & Level 3
Level 4
Level 5
By Application Type [Value ($ Million) from 2015 to 2026]:
Last-Mile Delivery Trucks
Mining Trucks
By ADAS Feature [Value ($ Million) from 2015 to 2026]:
ACC
AEB
BSD
LKA
IPA
TJA
HP
By Sensor [Value ($ Million) from 2015 to 2026]:
Ultrasonic
Camera
LiDAR
Radar
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.