PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484679
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484679
Autonomous Commercial Vehicle Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)
Key Highlights
The autonomous commercial vehicle market was valued at USD 990.6 million in 2023, which will rise to USD 1,723.5 million, powering at more than 8.0% CAGR, by 2030.
The substantial potential that autonomous technology holds for safer performance and more effective road traffic is the key factor behind attraction toward such automobiles, thus driving the industry expansion.
Severe injuries, road traffic, and deaths are some intolerable and confounding results of road transport, and the main cause of road accidents/crashes is human error.
The assistance to the driver provided by semi-autonomous commercial automobiles through ADAS systems is the key reason driving the industry for these vehicles globally.
AI incorporation in autonomous commercial vehicles is a major trend being observed in this industry.
In many ways, AI caused the development of the automobile sector by allowing the advancement of level 4 & 5 autonomous commercial vehicles.
The technology allowed the expansion of eye tracking, speech recognition, driver monitoring, gesture recognition, natural language interfaces, and virtual assistance, which are very important for the right functioning of these vehicles.
AI has aided in advanced driver-assistance systems development, which comprises driver condition evaluation systems, camera-based machine vision systems, radar-based detection units, and sensor fusion ECUs.
Key Insights
North America is leading the industry, and it is also likely to remain the largest throughout this decade.
This can be because of the increasing research & development activities on autonomous vehicles and rising backing from the state and federal governments for enhancing autonomous driving technologies.
The U.S. led the industry in North America, and it will continue this trend during this decade. This can be mainly because of the existence of the prosperous trucking sector in this nation.
APAC is likely to advance at the highest compound annual growth rate, of 8.8%, in the years to come. This is primarily because the region is the major automobile manufacturer globally, accounting for almost half of the annual production.
In 2023, the semi-autonomous category accounted for the largest share of the industry.
Automobiles should be armed with electronic stability control or at least an ADAS feature (either for steering or acceleration) to attain level 1 automation.
Most European nations as well as the U.S. have instructed the implementation of basic ADAS features in all new commercial vehicles, which essentially makes all of them semi-autonomous.
In 2023, the truck category was the largest contributor to the industry, and it will remain the largest throughout this decade.
This is primarily because of the rising adoption of autonomous trucks for logistical usages like automated material handling, domestic logistics transport, logistics digitalization, and yard management.
The public transportation category is likely to advance at the highest compound annual growth rate, of 8.7%, during this decade. This is mainly because of the rising acceptance of autonomous shuttle services for public mobility use.
Some established and start-up businesses are coming up with strategies to make level 5 autonomous shuttles for public transport.
These shuttles would not need human drivers, which would assist transportation agencies in reducing operational expenses.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by vehicle autonomy
- 1.4.2. Market size breakdown, by vehicle type
- 1.4.3. Market size breakdown, by fuel type
- 1.4.4. Market size breakdown, by application
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 6.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 6.4. Market Volume, by Vehicle Type (2017-2030)
- 6.5. Market Revenue, by Vehicle Type (2017-2030)
- 6.6. Market Volume, by Fuel Type (2017-2030)
- 6.7. Market Revenue, by Fuel Type (2017-2030)
- 6.8. Market Volume, by Region (2017-2030)
- 6.9. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 7.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 7.4. Market Volume, by Vehicle Type (2017-2030)
- 7.5. Market Revenue, by Vehicle Type (2017-2030)
- 7.6. Market Volume, by Fuel Type (2017-2030)
- 7.7. Market Revenue, by Fuel Type (2017-2030)
- 7.8. Market Volume, by Country (2017-2030)
- 7.9. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 8.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 8.4. Market Volume, by Vehicle Type (2017-2030)
- 8.5. Market Revenue, by Vehicle Type (2017-2030)
- 8.6. Market Volume, by Fuel Type (2017-2030)
- 8.7. Market Revenue, by Fuel Type (2017-2030)
- 8.8. Market Volume, by Country (2017-2030)
- 8.9. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 9.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 9.4. Market Volume, by Vehicle Type (2017-2030)
- 9.5. Market Revenue, by Vehicle Type (2017-2030)
- 9.6. Market Volume, by Fuel Type (2017-2030)
- 9.7. Market Revenue, by Fuel Type (2017-2030)
- 9.8. Market Volume, by Country (2017-2030)
- 9.9. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 10.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 10.4. Market Volume, by Vehicle Type (2017-2030)
- 10.5. Market Revenue, by Vehicle Type (2017-2030)
- 10.6. Market Volume, by Fuel Type (2017-2030)
- 10.7. Market Revenue, by Fuel Type (2017-2030)
- 10.8. Market Volume, by Country (2017-2030)
- 10.9. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 11.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 11.4. Market Volume, by Vehicle Type (2017-2030)
- 11.5. Market Revenue, by Vehicle Type (2017-2030)
- 11.6. Market Volume, by Fuel Type (2017-2030)
- 11.7. Market Revenue, by Fuel Type (2017-2030)
- 11.8. Market Volume, by Country (2017-2030)
- 11.9. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 12.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 12.4. Market Volume, by Vehicle Type (2017-2030)
- 12.5. Market Revenue, by Vehicle Type (2017-2030)
- 12.6. Market Volume, by Fuel Type (2017-2030)
- 12.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 13.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 13.4. Market Volume, by Vehicle Type (2017-2030)
- 13.5. Market Revenue, by Vehicle Type (2017-2030)
- 13.6. Market Volume, by Fuel Type (2017-2030)
- 13.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 14.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 14.4. Market Volume, by Vehicle Type (2017-2030)
- 14.5. Market Revenue, by Vehicle Type (2017-2030)
- 14.6. Market Volume, by Fuel Type (2017-2030)
- 14.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 15.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 15.4. Market Volume, by Vehicle Type (2017-2030)
- 15.5. Market Revenue, by Vehicle Type (2017-2030)
- 15.6. Market Volume, by Fuel Type (2017-2030)
- 15.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 16.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 16.4. Market Volume, by Vehicle Type (2017-2030)
- 16.5. Market Revenue, by Vehicle Type (2017-2030)
- 16.6. Market Volume, by Fuel Type (2017-2030)
- 16.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 17.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 17.4. Market Volume, by Vehicle Type (2017-2030)
- 17.5. Market Revenue, by Vehicle Type (2017-2030)
- 17.6. Market Volume, by Fuel Type (2017-2030)
- 17.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 18.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 18.4. Market Volume, by Vehicle Type (2017-2030)
- 18.5. Market Revenue, by Vehicle Type (2017-2030)
- 18.6. Market Volume, by Fuel Type (2017-2030)
- 18.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 19.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 19.4. Market Volume, by Vehicle Type (2017-2030)
- 19.5. Market Revenue, by Vehicle Type (2017-2030)
- 19.6. Market Volume, by Fuel Type (2017-2030)
- 19.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 20.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 20.4. Market Volume, by Vehicle Type (2017-2030)
- 20.5. Market Revenue, by Vehicle Type (2017-2030)
- 20.6. Market Volume, by Fuel Type (2017-2030)
- 20.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 21.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 21.4. Market Volume, by Vehicle Type (2017-2030)
- 21.5. Market Revenue, by Vehicle Type (2017-2030)
- 21.6. Market Volume, by Fuel Type (2017-2030)
- 21.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 22.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 22.4. Market Volume, by Vehicle Type (2017-2030)
- 22.5. Market Revenue, by Vehicle Type (2017-2030)
- 22.6. Market Volume, by Fuel Type (2017-2030)
- 22.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 23.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 23.4. Market Volume, by Vehicle Type (2017-2030)
- 23.5. Market Revenue, by Vehicle Type (2017-2030)
- 23.6. Market Volume, by Fuel Type (2017-2030)
- 23.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 24.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 24.4. Market Volume, by Vehicle Type (2017-2030)
- 24.5. Market Revenue, by Vehicle Type (2017-2030)
- 24.6. Market Volume, by Fuel Type (2017-2030)
- 24.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 25.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 25.4. Market Volume, by Vehicle Type (2017-2030)
- 25.5. Market Revenue, by Vehicle Type (2017-2030)
- 25.6. Market Volume, by Fuel Type (2017-2030)
- 25.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 26.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 26.4. Market Volume, by Vehicle Type (2017-2030)
- 26.5. Market Revenue, by Vehicle Type (2017-2030)
- 26.6. Market Volume, by Fuel Type (2017-2030)
- 26.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 27.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 27.4. Market Volume, by Vehicle Type (2017-2030)
- 27.5. Market Revenue, by Vehicle Type (2017-2030)
- 27.6. Market Volume, by Fuel Type (2017-2030)
- 27.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Volume, by Vehicle Autonomy (2017-2030)
- 28.3. Market Revenue, by Vehicle Autonomy (2017-2030)
- 28.4. Market Volume, by Vehicle Type (2017-2030)
- 28.5. Market Revenue, by Vehicle Type (2017-2030)
- 28.6. Market Volume, by Fuel Type (2017-2030)
- 28.7. Market Revenue, by Fuel Type (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Waymo LLC
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Ford Motor Co.
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. General Motor Co.
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. Fiat Chrysler Automobiles N.V.
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Toyota Motor Corp.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Renault-Nissan-Mitsubishi Alliance
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. TuSimple Holdings Inc.
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Embark Trucks Inc.
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Kodiak Robotics Inc.
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Kodiak Robotics Inc.
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
- 30.11. Tesla Inc.
- 30.11.1. Business overview
- 30.11.2. Product and service offerings
- 30.11.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports
