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Semi-autonomous Truck Market Size, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3740

Semi-Autonomous Truck Market size is expected to gain remarkable traction over 2022-2028, due to the ability of semi-autonomous vehicles to meet the need for mobility-on-demand, while being safer and easier to regulate as compared to fully autonomous fleets. The escalating cases of road accidents and the subsequent increase in focus on the development of smart systems, such as ADAS with warning and driver awareness support in trucks will also proliferate industry size in the years ahead. Semi-autonomous vehicles refer to those that can decelerate, accelerate, or stop without human intervention but are not self-driving. In such vehicles, the drivers are required to keep their hands on the wheel to maintain situational awareness and respond to unexpected hazards.
 

Rapid implementation of stringent regulations to reduce greenhouse gas emission levels is one of the prominent trends fostering the global semi-autonomous truck market dynamics through 2022-2028. In 2021, the U.S. EPA, for example, announced plans to issue major regulations, including the ‘Clean Trucks Plan’, for commercial delivery trucks and other heavy-duty vehicles to improve air quality and address the climate crisis. Factors such as these, alongside the strong focus on acceleration of the 5G network to boost connectivity, will also contribute to the rising popularity of semi-autonomous driving systems over the estimated timeline.
 

Electric propulsion segment is slated to account for a major share in the semi-autonomous truck industry by 2028. This is considering the capability of electric vehicles to enable the stealth mode feature as it can reduce thermal and noise signature, thus fueling semi-autonomous and autonomous operations in trucks and other vehicles. Moreover, the growing emphasis on the electrification of heavy-duty trucks in the U.S. will also drive the segmental growth in the upcoming years. With regards to sensor type, the ultrasonic segment is set to amass considerable profits over the forecast spell, owing to its ability to sense and communicate hazard warnings on roads, among other usage advantages.
 

North America semi-autonomous truck market is poised to depict a strong growth rate through 2028, driven by the significant increase in road fatalities, even during the coronavirus pandemic. According to McAleer Law’s data, nearly 500,000 trucking accidents occur in the U.S. each year, which could amplify the need for smart, safety features in semi-autonomous pickup trucks. In addition, the mounting delivery of items like electronics via trucks across the country will also influence the logistics companies to embrace semi-autonomous technology to reduce transportation costs and leverage other operational benefits.
 

Prominent semi-autonomous truck market participants include Valeo, Scania (Volkswagen Group, Traton), JSC Kamaz, Intel, PACCAR, Qualcomm, NVIDIA, ZF (Zeppelin-Stiftung), DENSO, Tesla, TuSimple, Siemens, Didi Chuxing, TomTom, Waymo (Alphabet Inc.), Volvo, Daimler, NXP, Aptiv, and Continental, among others. These firms are implementing strategies like new product launches, acquisitions, and mergers to strengthen their presence and expand their business in the global market.
 

COVID-19 to influence semi-autonomous truck market trends:

The novel coronavirus pandemic has posed short-term disruptions to the development and roll-outs of autonomous vehicles, due to significant obstacles in terms of real-world testing. Factors such as these have hampered the semi-autonomous truck industry to a certain extent over the past months. However, the rising focus on the adoption of innovative technologies to ensure continuous delivery of goods during the crisis may aid industry recovery. The pandemic may create new opportunities for autonomous vehicle technology within the consumer segments, as it is considered a vital component of response during emergencies and uncertainty, thus contributing to industry growth over the foreseeable future.
 

The semi-autonomous truck market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2028 for the following segments:

Market, By Level of Automation, 2018-2028 (USD Million)

  • Level 1
  • Level 2
  • Level 3
  • Level 4
  • Level 5

Market, By Propulsion 2018-2028 (USD Million)

  • Diesel
  • Electric
  • Hybrid

Market, By Sensor Type 2018-2028 (USD Million)

  • Camera
  • Radar
  • LiDAR
  • Ultrasonic

Market, By Truck Type 2018-2028 (USD Million)

  • Light Duty Truck
  • Medium Duty Truck
  • Heavy Duty Truck

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
    • Spain
  • APAC
    • China
    • Japan
    • Australia & New Zealand (ANZ)
    • South Korea
    • India
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • South Africa
    • UAE
    • Saudi Arabia
    • Israel

 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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