Home > Automotive > Semi-Autonomous Truck Market
Semi-Autonomous Truck Market Size
Semi-Autonomous Truck Market size is expected to grow significantly from 2024 to 2032, driven by the need to reduce greenhouse gas emissions and mitigate climate change. As per data from Visual Capitalist, in 2023, heavy-duty transportation (trucks, ships, and planes) contributed to 13% of global greenhouse gas emissions, with road transport alone responsible for 30% of global carbon dioxide emissions. By improving fuel efficiency, reducing congestion, and optimizing logistics operations, semi-autonomous technology is contributing to a more sustainable transportation system. Many fleet operators are also embracing semi-autonomous trucks as part of their commitment to environmental stewardship and corporate social responsibility.
Semi-Autonomous Truck Market Trend
Lately, several government and regulatory bodies are actively developing standards and regulations for semi-autonomous trucking. These regulations are further helping to address safety, liability, and operational requirements for autonomous and semi-autonomous vehicles on public roads. Clear regulatory frameworks are also playing an essential role for fostering the product demand as they ensure the safe deployment of semi-autonomous truck technology.
The shift towards electric and hybrid trucks is influencing the development of semi-autonomous technology. Electric and hybrid propulsion systems offer advantages, such as reduced emissions, lower operating costs, and quieter operation. Moreover, semi-autonomous features complement these advancements by optimizing energy usage, managing battery charging, and enhancing the overall vehicle efficiency.
Semi-Autonomous Truck Market Analysis
Semi-autonomous truck industry from the heavy-duty trucks product type segment is poised to grow rapidly by 2032. This is due to the rising preference for heavy-duty trucks as they are equipped with semi-autonomous features to enhance driver comfort, safety, and productivity. These trucks are deployed with advanced technologies, such as adaptive cruise control, lane departure warning, and blind-spot detection systems, to help improve driver awareness and reduce the risk of accidents on highways and busy roadways.
In terms of sensor, the ultrasonic sensors segment in the semi-autonomous truck industry is set to gain traction between 2024 and 2032. Ultrasonic sensors use sound waves to detect obstacles for aiding in collision avoidance and providing precise distance measurements. Widely utilized in parking assistance, lane-keeping, and autonomous braking systems, they enhance safety in diverse traffic conditions. Moreover, the ongoing advancements in sensor tech and their integration into truck platforms will push the market demand.
Asia Pacific semi-autonomous truck industry is anticipated to gain prominence during the forecast period, driven by rapid urbanization, infrastructure development, and the expansion of e-commerce and logistics sectors in countries, such as China, India, and Japan. The growing population of the region and the increasing consumer demand for goods and services are driving the need for efficient and cost-effective transportation solutions, spurring investments in semi-autonomous truck technologies. Moreover, government initiatives aimed at promoting road safety are further accelerating the regional industry growth.
Semi-Autonomous Truck Market Share
Prominent semi-autonomous truck industry participants include:
- Valeo
- Scania (Volkswagen Group, Traton)
- Intel
- JSC Kamaz
- PACCAR
- NVIDIA
- Qualcomm
- ZF (Zeppelin-Stiftung)
- Tesla
- DENSO
- TuSimple
- Didi Chuxing
- Siemens
- TomTom
- Volvo
- Waymo (Alphabet Inc.)
- Daimler
- Aptiv
- NXP
- Continental
These firms are implementing strategies like new product launches, acquisitions, and partnerships to strengthen their presence in the global market.
Semi-Autonomous Truck Market News
- In January 2022, NVIDIA, an American technology firm, partnered with TuSimple to boost the production of self-driving tech with its Drive Orin. With this collaboration, both companies aimed to elevate their position in the U.S. market.