Autonomous Truck Market Size to Record 10% CAGR Over 2024-2032

PUNE, MAHARASHTRA, INDIA, March 21, 2025 /EINPresswire.com/ -- The global autonomous truck market size was valued at USD 33.00 billion in 2023 and is projected to grow from USD 35.51 billion in 2024 to USD 76.01 billion by 2032, exhibiting a CAGR of 10.0% during the forecast period. North America dominated the global market with a share of 45.21% in 2023.

Autonomous trucks use cutting-edge technologies, such as LiDAR, AI, optical cameras, and sensors, to automate truck transportation activities and with minimal or no human interference. These trucks can perform a wide range of functions, such as braking, acceleration, and steering, and have the potential to revolutionize the transport & logistics sector. These factors are expected to accelerate the autonomous truck market growth.

Fortune Business Insights™ displays this information in a report titled, "Autonomous Truck Market, 2024-2032."

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Drivers & Restraints:

Rising Focus on Road Safety to Boost Market Growth
A growing percentage of automobile manufacturers are using Advanced Driver Assistance System (ADAS) to improve the safety of their vehicles on busy highways. This was according to a study carried out by the Federal Motor Carrier Safety Administration in partnership with leading truck manufacturers. This initiative by prominent market players has slashed the incidence of rear-end crashes by almost 50% and boosted driver retention rate and asset uptime. Therefore, the growing focus of key truck manufacturers on road safety may accelerate the market’s development.
However, lack of a proper regulatory framework might restrict the market growth.

COVID-19 Impact:

Growing Need for Autonomous Trucks to Strengthen E-Commerce Logistics Boosted Market Progress
The COVID-19 pandemic had an adverse impact on the transportation sector due to severe disruptions in the industry’s supply chains caused by government-imposed lockdowns and restrictions. However, these restrictions fueled the demand for autonomous trucks as the e-commerce and logistics sectors witnessed a tremendous boom during this period. This further augmented the deployment of fully-autonomous trucks, thereby boosting the market growth.

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Segments:

Growing Need for Pickup Trucks to Augment Adoption of Level 1 Trucks:
By level of automation, the market is segmented into level 1, level 2, level 3, and level 4. The level 1 segment holds the largest share of the market in 2024 as the demand for pickup trucks with semi-autonomous features is rising in the U.S.

Strict Emission Rules to Accelerate Demand for Trucks with Electric Propulsion:
By propulsion type, the market is classified into IC engine and electric. The electric segment is expected to show the fastest growth in the market as governments across the world are introducing stringent emission control regulations.

Increasing Shortage of Drivers to Boost Sales of Heavy-Duty Trucks:

By truck type, the market is categorized into light-duty trucks, medium-duty trucks, and heavy-duty trucks. The heavy-duty trucks segment is anticipated to exhibit a high CAGR during the forecast period as there is a rising shortage of drivers, and automated heavy-duty trucks can solve this problem by eliminating the need to pay drivers.

Growing Transportation of FMCG Products to Support Vehicle Adoption:

By industry, the market is categorized into manufacturing, construction & mining, FMCG, military, and others. The FMCG segment dominated the market in 2022 and might continue its dominance during the forecast period as there is a growing demand for the efficient transportation of FMCG products and rising preference for e-commerce platforms after the pandemic.

With respect to region, the market covers North America, Europe, Asia Pacific, and the rest of the world.

Report Coverage:

The report analyzes the market in detail and highlights important aspects such as prominent companies, designs, technologies, and vehicle types. It also offers valuable insights into the latest market trends and covers key industry developments. Besides the factors mentioned above, the report underlines several factors that have contributed to the growth of the market in recent years.

Regional Insights:

North America to Dominate Global Market with Robust Presence of Leading Truck Manufacturers
North America might account for a dominant autonomous truck market share during the forecast period as the region has a notable presence of well-established truck manufacturing companies. These firms are creating cutting-edge trucking technologies and carrying out trials across the region.
Asia Pacific is predicted to record the fastest CAGR during the forecast timeframe due to the rollout of strict road safety norms and notable advancements in autonomous vehicles.

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Competitive Landscape:
Daimler AG to Lead the Market due to its Strategic Initiatives
The market has a vast presence of leading players such as Continental AG, AB Volvo, Daimler AG, and Caterpillar, among others. However, Daimler AG is set to lead the market as the company is engaged in multiple strategic investments and partnerships to accelerate the production of highly automated trucks.

List of Key Players Covered in Autonomous Truck Market Report:-
• TuSimple, Inc. (U.S.)
• Waymo LLC (U.S.)
• Embark Trucks (U.S.)
• Tesla (U.S.)
• Caterpillar (U.S.)
• AB Volvo (Sweden)
• Daimler AG (Germany)
• Continental AG (Germany)
• Robert Bosch GmbH (Germany)
• NVIDIA Corporation (U.S.)
• Aptiv (Ireland)

Autonomous Truck Market Segmentation:-

By Level of Autonomy
• Level 1
• Level 2
• Level 3
• Level 4

By Propulsion Type
• IC Engine
• Electric

By Truck Type
• Light-Duty Truck
• Medium-Duty Truck
• Heavy-Duty Truck

By Industry
• Manufacturing
• Construction & Mining
• Military
• FMCG
• Others

Key Industry Development:

April 2023 – Aurora teamed up with Continental AG to design and produce autonomous systems for big rigs. The companies expect the system to be installed in class 8 trucks in the U.S. by 2027.

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular

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Fortune Business Insights™ Pvt. Ltd.
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