The Heavy-Duty Autonomous Vehicle Market Size is valued at 133.10 Bn in 2022 and is predicted to reach 988.57 Bn by the year 2031 at a 25.1 % CAGR during the forecast period for 2023-2031.
Self-driving vehicles are designed for duties that require a significant load-carrying capacity and the ability to navigate challenging terrain, such as hauling materials and goods through mines and construction sites. Heavy-duty autonomous vehicles use a variety of technologies to traverse their environment and determine how to operate safely and efficiently. These include LiDAR sensors, GPS, and complex algorithms. They are frequently designed to run continuously with little help from people and can be powered by internal combustion engines or electricity.
The advantages of heavy-duty autonomous vehicles include increased productivity and efficiency as well as cheaper labour expenses. They are frequently designed to run continuously with little help from people and can be powered by internal combustion engines or electricity. The advantages of heavy-duty autonomous vehicles include increased productivity and efficiency as well as cheaper labour expenses. They are being developed and deployed by a range of companies in the transportation, logistics, construction, and mining industries, and as technology advances, it is projected that they will play an increasingly larger role in the future of these sectors.
Since human drivers are not necessary for autonomous trucks to operate, there is no longer a need to pay for wages, benefits, and overtime. Autonomous trucks also have the ability to work constantly without the need for breaks or shift changes, boosting productivity and further lowering labour expenses. Additionally, autonomous trucks can cut fuel usage. These vehicles can be designed to optimise their routes, steer clear of traffic, and spend less time idling, all of which saves fuel. Additionally, autonomous trucks may keep a constant speed, minimise abrupt acceleration and braking, and choose the route that uses the least gasoline, resulting in additional fuel savings.
Competitive Landscape:
Some Major Key Players In The Heavy-Duty Autonomous Vehicle Market:
- AB Volvo
- General Motors
- Mercedes-Benz Group AG
- BMW Group
- Volkswagen AG
- PACCAR Inc.
- Renault Trucks
- Traton Group
- Shanghai Newrizon Technology Co., Ltd.
- New Flyer (NFI Group)
- Karsan
- Proterra
- 2getthere B.V.
- Apollo (Baidu)
- Magna International Inc.
- ZF Friedrichshafen AG
- Zoox, Inc.
- Cruise LLC
- Schaeffler AG
- P3 Mobility
- HOLON GmbH
- Embark Trucks Inc.
- Kodiak Robotics, Inc.
- TuSimple
- Torc Robotics
- Aurora Innovation Inc.
- PlusAI, Inc.
- Waymo LLC
- Mobileye
Market Segmentation:
The Heavy-Duty Autonomous Vehicle market is segmented on the basis of Application Propulsion Type, Vehicle Type, Level of Autonomy, and Sensor Type. Based on Application the market is divided into, Logistics, Public Transportation, Construction and Mining, and Others). The Propulsion Type segment consists of Internal Combustion Engine Vehicles and Electric Vehicles. Whereas, the Vehicle Type segment comprises Heavy Trucks, Heavy Buses, and Roboshuttles. Based on the Level of Autonomy, the market is segmented into Fully Autonomous Vehicles, Semi-Autonomous Vehicles. Lastly, By Sensor Type, the market is divided into LiDAR, RADAR, Camera, and Others.
Based On Level Of Autonomy, The Semi-Autonomous Segment Is Accounted As A Major Contributor In The Heavy-Duty Autonomous Vehicle Market
The market was led by semi-autonomous, and this trend is estimated to continue during the projection period. For efficient driving, nearly all of the new-generation vehicles on the market include semi-autonomous technology. As a result, the segment's growth is anticipated to be fueled by the rapid adoption of semi-autonomous vehicles with technologies like ADAS, autopilot, automatic vehicle braking and parking systems, among others.
In The Region, The North America Heavy-Duty Autonomous Vehicle Market Holds A Significant Revenue Share
North America will dominate the market. The government's promotion of autonomous driving technologies, the region's rapidly growing economy and a well-established manufacturing sector, are all factors in this. Additionally, as heavy-duty vehicles are required in industries like mining, construction, logistics, and transportation to supply supplies and freight, it is projected that these industries would have the biggest demand for autonomous trucks. The increased electrification of vehicles is also driving the market in North America as a result of infrastructure development by businesses. Incorporating x-by-wire technology into electric vehicles is advancing autonomous driving.
Furthermore, Germany, the United Kingdom, and France are the countries that are most responsible for the market's expansion in Europe, which is a large market for autonomous trucks. The development of cutting-edge technology like AI and ADAS for autonomous driving is to blame. The high costs of adopting autonomous driving technologies, worries about the loss of truck driver jobs, and legislative barriers linked to the safety and liability of driverless trucks might all pose obstacles to the development of the market for autonomous trucks in Europe.
Heavy-Duty Autonomous Vehicle Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 133.10 Bn |
|
Revenue Forecast In 2031 |
USD 988.57 Bn |
|
Growth Rate CAGR |
CAGR of 25.1 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Application, By Propulsion Type, By Vehicle Type, By Level of Autonomy, By Sensor Type |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
AB Volvo, General Motors, Mercedes-Benz Group AG, BMW Group, Volkswagen AG, PACCAR Inc., Renault Trucks, Traton Group, Shanghai Newrizon Technology Co., Ltd., New Flyer (NFI Group), Karsan, Proterra, 2getthere B.V., Apollo (Baidu), Magna International Inc., ZF Friedrichshafen AG, Zoox, Inc., Cruise LLC, Schaeffler AG, P3 Mobility, HOLON GmbH, Embark Trucks Inc., Kodiak Robotics, Inc., TuSimple, Torc Robotics, Aurora Innovation Inc., PlusAI, Inc., Waymo LLC, Mobileye |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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