Automated Truck Market

Automated Truck Market Study by Adaptive Cruise Control, Lane Keep Assist, Automatic Emergency Braking, Blind Spot Detection, Intelligent Park Assist, Highway Pilot, and Others from 2023 to 2033

Analysis of Automated Truck Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Automated Truck Market Outlook (2023 to 2033)

The global automated truck market is valued at US$ 381.32 million in 2023 and is set to swell to a size of US$ 2.78 billion by 2033, rising at an astonishing CAGR of 22% from 2023 to 2033 (forecast period).

Automated trucks, also known as self-driving or autonomous trucks, are vehicles that can operate without direct human intervention. These trucks are outfitted with modern technologies such as sensors, cameras, radar systems, and computer algorithms, allowing them to perceive their surroundings, navigate, and make driving decisions without the need for human intervention.

Automated trucks have the potential to transform the transportation industry by boosting efficiency, increasing safety, and lowering costs. They have the ability to minimize human errors, fatigue-related issues, and driver shortages.

One of the main demand drivers for automated trucks is the potential to improve road safety. Human error and exhaustion are the major causes of accidents in the transportation industry.

Automated trucks, by eliminating human drivers, have the potential to reduce accidents caused by factors such as distracted driving, drunk driving, and driver tiredness. These vehicles' powerful sensor systems and algorithms can perceive and respond to their surroundings faster than human drivers, potentially avoiding collisions and boosting overall road safety.

  • According to research done by the Federal Motor Carrier Safety Administration in partnership with trucking industry leaders, the deployment of advanced driver assistance technology (ADAS) has greatly enhanced highway safety.
  • J.B. Hunt, a major for-hire carrier in the United States, has fitted 98% of its vehicles with lane departure warning systems, forward-collision warning systems, and dash cams on 84% of its class 8 trucks. The use of such technologies has resulted in a 50% reduction in rear-end collisions.

Top original equipment manufacturers are collaborating with technology businesses to develop ADAS. Nvidia and other technology companies have entered this market to offer services to corporations like Paccar and Volvo.

Automated trucks have the potential to boost operational efficiency and reduce costs for logistics and transportation organizations. They can function continuously without the requirement for breaks, sleep, or compliance with hours-of-service rules, which can greatly improve productivity and minimize overall transportation time. Furthermore, automated trucks can optimize routes, lower fuel consumption, and minimize maintenance expenses.

Report Attributes Details

Automated Truck Market Size (2023)

US$ 381.32 million

Projected Market Value (2033)

US$ 2.78 billion

Global Market Growth Rate (2023 to 2033)

22% CAGR

United States Market Value (2033)

US$ 704.72 million

Logistics Segment Growth Rate (2023 to 2033)

21.4% CAGR

Key Companies Profiled

  • AB Volvo
  • Uber Technologies Inc
  • Daimler AG
  • Ford Motor Co
  • Tesla Inc
  • Aptiv
  • BMW AG

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Why are Sales of Automated Truck Booming?

“Shortage of Truck Drivers in Developed Economies”

Many regions are experiencing a truck driver shortage, posing a problem for the transportation industry. With the majority of baby-boomer truckers set to retire in the coming years, particularly in North America and Europe, the two areas face a catastrophic shortage of truck drivers.

  • For example, the American Trucking Association reported a rise in the driver shortfall from 10,000 in 2017 to 60,800 in 2018.
  • According to the American Transportation Research Institute, trucking businesses will require 100,000 drivers to operate their vehicles during the next five years.
  • Likewise, data from the International Road Transport Union show that European commercial freight driver shortages increased from 23% in 2019 to 36% in 2020, with Poland and Romania bearing the burden.

Trucking businesses are switching to automated trucks to address these inadequacies. Automated trucks can tackle this issue by lowering the dependency on human drivers. Moreover, by automating specific duties, these trucks can operate without human assistance, addressing the driver shortage problem. As a result, the demand for automated trucks is skyrocketing in these regions.

Automated Trucks Market Size, Share, Trends, Growth, Demand and Sales Forecast Report by Fact.MR

Country-wise Insights

What Makes the United States the Frontrunner in the Worldwide Market?

“Driver Shortages, Technological Advancements, and Supportive Regulatory Environment”

The United States has a vast and extensive transportation industry, with significant demand for efficient and cost-effective logistics solutions. Automated trucks can streamline operations, cut transportation costs, and improve supply chain efficiency.

As a result, firms in the United States are progressively adopting automated transportation technologies to gain a competitive advantage and boost their bottom line. The United States automated truck market is expected to achieve US$ 704.72 million by 2033.

The United States, like many other countries, is experiencing a shortage of truck drivers. The aging driver population, combined with the difficult nature of the job, has resulted in a decrease in the number of people seeking truck driving jobs, raising the demand for automated trucks. The technology can help alleviate the effects of driver shortages while ensuring the continuity of logistics operations.

The United States is home to several leading technology businesses, including those focused on autonomous driving technologies. This has resulted in a vibrant environment for automated trucking research, development, and innovation. Moreover, many US-based companies are at the forefront of developing autonomous trucking solutions, contributing to the country's market growth. The government is becoming increasingly interested in supporting and fostering the development of autonomous vehicles, particularly automated trucks.

  • Federal agencies such as the National Highway Traffic Safety Administration (NHTSA) and the Department of Transportation (DOT) have been actively involved in developing standards and laws to ensure the safe deployment of autonomous vehicles.

Some states have enacted legislation or established pilot programs to promote the testing and operation of automated trucks within their jurisdictions.

Which Countries are Primarily Bolstering Asia Pacific Market Progress?

“China, Japan, and South Korea to Strengthen Regional Market Stance”

The market in China is predicted to hit US$ 607.23 million by 2033. China has experienced fast industrialization and a thriving e-Commerce industry, resulting in considerable growth in freight transportation demand. Automated trucks have the ability to satisfy the expanding logistics needs in an efficient and cost-effective manner.

The Japanese market is anticipated to garner US$ 169.91 million by 2033. Like many other developed countries, Japan is witnessing an aging workforce and a fall in truck driver numbers, increasing the sales of automated trucks. Furthermore, Japan's infrastructure is well-developed, with excellent road networks and intelligent transportation systems. These elements create a favorable climate for the deployment of automated trucks, making it easier to integrate them into current transportation systems.

The government of South Korea has recognized the promise of automated trucks and has undertaken numerous initiatives and investment programs to encourage their development and deployment.

South Korea has a robust logistics industry owing to its export-oriented economy. Automated trucks have the potential to improve logistics efficiency, save costs, and improve supply chain management, making them an appealing choice for the country's logistics industry. The South Korean market is forecasted to reach US$ 89.13 million by 2033.

Why is Germany a Lucrative Market for Automated Trucks?

“Robust Automotive and Logistics Sectors and Strong Government Support & Initiatives”

Sales of automated trucks in Germany are projected to touch US$ 286.9 million by 2033. Germany has a strong automotive sector with well-known manufacturers and suppliers. The country's strength in engineering, manufacturing, and automotive technology is critical to the development and growth of autonomous vehicles. German automakers have been spending on research and development to expand autonomous driving technology, notably, those connected to trucks.

Germany has a highly developed logistics and transportation sector due to its central location in Europe and its importance as an international trade hub. Automated vehicles can considerably improve logistics operations, increase productivity, and cut costs for German logistics companies.

The German government has shown support for developing and deploying autonomous driving technologies, including automated trucks. They have initiated projects, provided funds, and set legislative frameworks to foster innovation and assure the safe adoption of these technologies on public roadways. This favorable climate encourages enterprises to invest in autonomous truck research, development, and implementation efforts.

Germany has been concentrating on lowering carbon emissions and shifting to more sustainable transportation systems. Automated trucks can help achieve this goal by optimizing routes, lowering fuel use, and facilitating the adoption of alternative energy sources. The environmental benefits of autonomous transportation match Germany's sustainability goals.

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Category-wise Insights

Why is the Logistics Industry Embracing Automated Trucks at a Fast Rate?

“Benefits of Cost Savings, Increased Efficiency, and Improved Safety”

As per Fact.MR, a market research and competitive intelligence provider, the demand for automated trucks from the logistics industry is estimated to expand at a CAGR of 21.4% from 2023 to 2033.

Automated trucks have the potential to lower logistics businesses' operational expenses. They can optimize routes, enhance fuel efficiency, and reduce idle time, all of which result in cost savings. Companies can also decrease labor costs connected with driver wages, benefits, and compliance with working-hour requirements by using automated trucks.

Automated trucks can run constantly without stopping, cutting delivery times and enhancing overall logistics efficiency. They can also be programmed to take precise routes and follow precise schedules, eliminating delays and streamlining logistics processes.

With increased efficiency and productivity, companies can handle larger volumes of shipments, meet customer demands more effectively, and improve their competitiveness in the market. Automation technology in trucks has the potential to improve safety by eliminating reliance on human drivers, who may be prone to fatigue, distraction, or errors.

Automated trucks can follow traffic laws, keep safe distances from other vehicles, and react to possible hazards faster. This reduces the danger of accidents, property damage, and personal injury, resulting in better safety records for logistics companies. Moreover, many locations are experiencing a scarcity of truck drivers, which causes issues for the logistics business. Automated trucks help tackle driver shortages by eliminating the need for human drivers.

Competitive Landscape

Key players in the automated truck market are focusing on collaborations, acquisitions, investments, R&D activities, and technological innovations to grow and reinforce their market presence.

  • Daimler Trucks unveiled a new industry standard scalable truck platform for autonomous driving in 2021, capable of producing ASE level 4 autonomous trucks with advanced systems for added safety.
  • Daimler and Waymo collaborated in October 2020 to develop completely driverless semi-trucks. This strategic collaboration allows Daimler to incorporate Waymo's autonomous driving technology into the company's vehicles.

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Competitive landscape highlights only certain players
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Key Segments of Automated Truck Industry Research

  • By Sensor Type :

    • Ultrasonic
    • Radars
    • Cameras
    • LiDAR
  • By Level of Autonomy :

    • Level 1
    • Level 2
    • Level 3
    • Level 4
    • Level 5
  • By Propulsion :

    • Diesel
    • Electric
    • Gasoline
    • Hybrid
  • By Truck Type :

    • Light Duty Trucks
    • Medium Duty Trucks
    • Heavy Duty Trucks
  • By ADAS Feature :

    • Adaptive Cruise Control
    • Lane Keep Assist
    • Automatic Emergency Braking
    • Blind Spot Detection
    • Intelligent Park Assist
    • Highway Pilot
    • Traffic Jam Assist
  • By End Use :

    • Mining
    • Logistics
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific & China
    • Middle East & Africa

- FAQs -

How much is the global automated truck market currently worth?

The global automated truck market stands at US$ 381.32 million in 2023.

What is the sales forecast for automated trucks for 2033?

Worldwide sales of automated trucks are projected to reach US$ 2.78 billion by 2033.

What is the predicted growth rate for the global market?

The market for automated trucks is predicted to soar at a CAGR of 22% from 2023 to 2033.

At what CAGR is the demand for automated trucks anticipated to increase from the logistics industry?

Demand for automated trucks from the logistics industry is expected to rise at a CAGR of 21.4% during the forecast period.

What is the estimated value of the United States automated truck market for 2033?

The United States market is set to touch US$ 704.72 million by the end of 2033.

Automated Truck Market

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