Autonomous Truck Market Size - By Level of Autonomy (Level 1, Level 2, Level 3, Level 4), By Fuel (Diesel, Alternative Fuel), By Application (Construction, Last Mile Delivery, Freight Transport, Mining), Class Type & Global Forecast, 2023 - 2032

Autonomous Truck Market Size - By Level of Autonomy (Level 1, Level 2, Level 3, Level 4), By Fuel (Diesel, Alternative Fuel), By Application (Construction, Last Mile Delivery, Freight Transport, Mining), Class Type & Global Forecast, 2023 - 2032

The global autonomous truck market will showcase over 15% CAGR from 2023-2032. A pressing need for increased efficiency and cost reduction in the freight and transportation industry will shape the industry outlook during the analysis period. Autonomous trucks offer the potential for reduced labor costs, lower fuel consumption, optimized route planning, and streamlined operations, resulting in substantial savings for companies.

The advancements in autonomous vehicle technology, including AI-driven perception, real-time data analytics, and connectivity solutions, will accelerate the development and deployment of autonomous trucks which will fuel industry growth.

Increasing interest and investments from major players and collaborations between tech companies and truck manufacturers are fostering innovation that will shape the industry outlook. In August 2023, Plus and The Goodyear Tire & Rubber Company announced a partnership to develop autonomous truck solutions, powered by the former’s Level 4 autonomous driving technology and optimized to accelerate the transition to a more connected and intelligent logistics industry. Regulatory support and a gradual shift toward accepting autonomous vehicles will further boost the market's development.

The market is segregated based on the level of autonomy, fuel, application, class, and region.

The alternative fuel segment will exhibit a commendable CAGR, driven by factors such as a growing emphasis on environmental sustainability and reduced carbon emissions. The adoption of alternative fuels like electric and hydrogen for autonomous trucks aligns with eco-friendly transportation goals and government incentives, propelling market expansion.

The last-mile delivery application segment will hold a commendable share of the autonomous truck market by 2032, driven by factors such as rising e-commerce demand and the need for efficient, cost-effective, and timely delivery services. Autonomous trucks promise to enhance last-mile logistics by reducing delivery times and minimizing operational costs which will drive growth in the segment.

The class 4 autonomous truck market will hold a substantial market share through 2032, driven by the need for enhanced safety and efficiency in medium-duty truck applications. Autonomous class 4 trucks offer the potential for improved urban delivery and transportation services, reducing traffic congestion and emissions.

Regionally, the Europe autonomous truck industry will grow with a noteworthy CAGR, driven by factors such as the region's focus on reducing emissions, stringent safety regulations, and investments in autonomous technology. The need to address driver shortages and improve logistics efficiency will further drive regional industry expansion.