Autonomous Truck Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Autonomous Truck Market
The autonomous truck market size was valued at USD 33.00 billion in 2023, and the market is now 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 of 2024-2032.
The COVID-19 pandemic significantly impacted the car quarter, inflicting a remarkable decline in marketplace boom. Disruptions inside the improvement of superior technology like self-reliant using and electric automobiles were general. OEMs and traders decreased their investment in innovation due to liquidity issues brought on by means of the pandemic. This slowdown affected the overall development and deployment of new automobile technology. Consequently, the enterprise's healing and development confronted good sized delays.
The consciousness on street safety is driving demand for autonomous vehicles, with ADAS playing a key role. A take a look at by the Federal Motor Carrier Safety Administration and industry leaders highlighted big protection improvements from ADAS. For instance, J.B. Hunt, a chief U.S. Service, has equipped 98% of its vehicles with a head-collision and lane departure caution structures, and 84% of its magnificence 8 trucks with dash cameras. This fashion underscores the enterprise's commitment to improving motorway safety through advanced generation.
Commercial automobile electrification is driving market increase, propelled by using the demand for emission-free motors with advanced protection and driving force assistance features. This trend is essential for efficient operations in trucking, logistics, and deliver chains. Major economies like China, the EU, and the U.S. Are implementing stringent emission guidelines. Notably, the EU's Euro VII well-known, effective from 2035, objectives to reduce nitric oxide emissions from automobiles and vans by using 35% and from buses and lorries via 56% as compared to Euro VI. These rules help the shift in the direction of electrification in the business automobile sector.
Comprehensive Analysis of Autonomous Truck Market
The autonomous truck market growth is rising at an exponential rate due to its market segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by level of autonomy analysis, by propulsion type analysis, by truck type analysis, by industry analysis. By level of autonomy analysis include, level 1, level 2, level 3, and level 4. By propulsion type analysis include, IC engine and electric. By truck type analysis, light-duty trucks, medium-duty trucks, and heavy-duty trucks. By industry analysis include, manufacturing, construction & mining, FMCG, military, and others.
The North America region lead the autonomous truck market share by benefitting a market size of USD 14.92 billion in 2023 due to the presence of several startups, such as Embark Trucks and Waymo.
The top players in the market play an important role in the industry assuring market expansion and setting market level. These players include 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), these market players provide a level-playing competitive landscape.
In May 2023, Robert Bosch GmbH and PlusAI, Inc. Introduced driver-assist truck era at the Advanced Clean Transportation Expo, taking part on superior motive force help features for industrial vehicles.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 10.0% from 2024 to 2032
Unit Value (USD Billion) & Volume (Thousands Units)
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
By Geography
North America (By Level of Autonomy, By Propulsion, By Truck Type, and By Industry)
- U.S. (By Level of Autonomy)
- Canada (By Level of Autonomy)
- Mexico (By Level of Autonomy)
Europe (By Level of Autonomy, By Propulsion, By Truck Type, and By Industry)
- Germany (By Level of Autonomy)
- France (By Level of Autonomy)
- U.K. (By Level of Autonomy)
- Rest of Europe (By Level of Autonomy)
Asia Pacific (By Level of Autonomy, By Propulsion, By Truck Type, and By Industry)
- China (By Level of Autonomy)
- Japan (By Level of Autonomy)
- India (By Level of Autonomy)
- South Korea (By Level of Autonomy)
- Rest of Asia Pacific (By Level of Autonomy)
Rest of the World (By Level of Autonomy, By Propulsion, By Truck Type, and By Industry)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Market Overview of Related/Parent Market
- 4.2. Industry SWOT Analysis
- 4.3. Value Chain Analysis
- 4.4. Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
- 4.5. Market Analysis and Insights (in Relation with COVID-19)
- 5. Global Sea Buckthorn Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Form (Value)
- 5.2.1.1. Juice
- 5.2.1.2. Oil
- 5.2.1.3. Powder
- 5.2.1.4. Others
- 5.2.2. By Applications (Value)
- 5.2.2.1. Food and Beverages
- 5.2.2.2. Dietary Supplements
- 5.2.2.3. Pharmaceuticals
- 5.2.2.4. Personal Care and Cosmetics
- 5.2.2.5. Others
- 5.2.3. By Region (Value)
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Sea Buckthorn Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Form (Value)
- 6.2.1.1. Juice
- 6.2.1.2. Oil
- 6.2.1.3. Powder
- 6.2.1.4. Others
- 6.2.2. By Applications (Value)
- 6.2.2.1. Food and Beverages
- 6.2.2.2. Dietary Supplements
- 6.2.2.3. Pharmaceuticals
- 6.2.2.4. Personal Care and Cosmetics
- 6.2.2.5. Others
- 6.2.3. By Country
- 6.2.3.1. U.S.
- 6.2.3.2. Canada
- 6.2.3.3. Mexico
- 7. Europe Sea Buckthorn Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Form (Value)
- 7.2.1.1. Juice
- 7.2.1.2. Oil
- 7.2.1.3. Powder
- 7.2.1.4. Others
- 7.2.2. By Applications (Value)
- 7.2.2.1. Food and Beverages
- 7.2.2.2. Dietary Supplements
- 7.2.2.3. Pharmaceuticals
- 7.2.2.4. Personal Care and Cosmetics
- 7.2.2.5. Others
- 7.2.3. By Country
- 7.2.3.1. Germany
- 7.2.3.2. France
- 7.2.3.3. Spain
- 7.2.3.4. Italy
- 7.2.3.5. U.K.
- 7.2.3.6. Rest of Europe
- 8. Asia Pacific Sea Buckthorn Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.1.1. By Form (Value)
- 8.1.1.1. Juice
- 8.1.1.2. Oil
- 8.1.1.3. Powder
- 8.1.1.4. Others
- 8.1.2. By Applications (Value)
- 8.1.2.1. Food and Beverages
- 8.1.2.2. Dietary Supplements
- 8.1.2.3. Pharmaceuticals
- 8.1.2.4. Personal Care and Cosmetics
- 8.1.2.5. Others
- 8.1.3. By Country
- 8.1.3.1. China
- 8.1.3.2. India
- 8.1.3.3. Japan
- 8.1.3.4. Australia
- 8.1.3.5. Rest of Asia Pacific
- 9. South America Sea Buckthorn Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.1.1. By Form (Value)
- 9.1.1.1. Juice
- 9.1.1.2. Oil
- 9.1.1.3. Powder
- 9.1.1.4. Others
- 9.1.2. By Applications (Value)
- 9.1.2.1. Food and Beverages
- 9.1.2.2. Dietary Supplements
- 9.1.2.3. Pharmaceuticals
- 9.1.2.4. Personal Care and Cosmetics
- 9.1.2.5. Others
- 9.1.3. By Country
- 9.1.3.1. Brazil
- 9.1.3.2. Argentina
- 9.1.3.3. Rest of South America
- 10. Middle East and Africa Sea Buckthorn Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.1.1. By Form (Value)
- 10.1.1.1. Juice
- 10.1.1.2. Oil
- 10.1.1.3. Powder
- 10.1.1.4. Others
- 10.1.2. By Applications (Value)
- 10.1.2.1. Food and Beverages
- 10.1.2.2. Dietary Supplements
- 10.1.2.3. Pharmaceuticals
- 10.1.2.4. Personal Care and Cosmetics
- 10.1.2.5. Others
- 10.1.3. By Country
- 10.1.3.1. South Africa
- 10.1.3.2. UAE
- 10.1.3.3. Rest of Middle East and Africa
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Sea Buckthorn Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2023
- 12. Company Profiles
- 12.1. Seabuckwonders
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Mushroom Types Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. A.G. Organica Pvt. Ltd
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Mushroom Types Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Connoils LLC
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Mushroom Types Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. TEREZIA COMPANY s.r.o.
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Mushroom Types Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Weleda
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Mushroom Types Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Leh Berry (Seabuckthorn Beverages LLP
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Mushroom Types Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Natures Aid Limited
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Mushroom Types Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Sibu Seaberry
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Mushroom Types Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. W. S. Badger Company
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Mushroom Types Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Ziani Organic Oils
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Mushroom Types Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Strategic Recommendations
- 14. Appendix
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