What is the present valuation and projected CAGR of the heavy-duty autonomous vehicle market?
The heavy-duty autonomous vehicle market size has grown exponentially in recent years. It will grow from $146.41 $ billion in 2024 to $179.51 $ billion in 2025 at a compound annual growth rate (CAGR) of 22.6%. The growth in the historic period can be attributed to increasing demand for operational efficiency, focus on reduction of human error in operations, enhanced safety measures, improvement in completion times for large-scale projects, increasing demand for the safety of drivers, and growing investments in R&D.
The heavy-duty autonomous vehicle market size is expected to see exponential growth in the next few years. It will grow to $402.5 $ billion in 2029 at a compound annual growth rate (CAGR) of 22.4%. The growth in the forecast period can be attributed to the growing need to ensure the safety and efficiency of automobiles, emphasis on improved sustainability in automobiles, increasing demand to improve freight efficiency, demand to optimize last-mile delivery logistics and development of smart infrastructure. Major trends in the forecast period include the adoption of fully autonomous vehicles, increasing use of battery electric vehicles, growth in inductive and supercharging technologies, development of AI-driven navigation systems, advances in machine learning algorithms, and growth in remote monitoring capabilities.
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What key drivers have fueled the heavy-duty autonomous vehicle market’s development over the years?
The expanding e-commerce sector is expected to propel the growth of the heavy-duty autonomous vehicle market going forward. The e-commerce sector encompasses businesses that buy and sell goods and services over the internet, leveraging online platforms to facilitate commercial transactions. The growth in the e-commerce sector is driven by factors such as internet penetration, mobile commerce, digital payment solutions, and social media integration. Heavy-duty autonomous vehicles (HDAVs) boost e-commerce by allowing for faster, more dependable long-distance transportation, minimizing human error, and enhancing supply chain efficiency, all of which improve delivery speed and safety. For instance, in November 2023, according to the International Trade Administration, a US-based Department of Commerce, consumer eCommerce was expected to generate $285.60 billion in revenue by 2025, accounting for 36.3% of the UK retail market as of January 2021. Additionally, eCommerce revenues in the UK are projected to grow at an average annual rate of 12.6% by 2025. Therefore, the expanding e-commerce sector is driving the growth of the heavy-duty autonomous vehicle market.
What is the segmentation for the heavy-duty autonomous vehicle market?
The heavy-duty autonomous vehiclemarket covered in this report is segmented –
1) By Vehicle Type: Heavy Trucks, Heavy Buses, Roboshuttles
2) By Sensor Type: Light Detection And Ranging (LiDAR), Radio Detection And Ranging (RADAR), Camera, Other Sensor Types
3) By Level Of Autonomy: Semi-Autonomous Vehicles, Autonomous Vehicles
4) By Capacity: 3.5 – 7.5 Tons, 7.5 – 16 Tons, Above 16 Tons
5) By Application: Logistics, Public Transportation, Construction And Mining, Other Applications
Subsegments:
1) By Heavy Trucks: Autonomous Freight Trucks, Long-Haul Autonomous Trucks, Autonomous Dump Trucks, Autonomous Delivery Trucks, Electric Autonomous Trucks, Autonomous Construction Trucks
2) By Heavy Buses: Autonomous City Buses, Autonomous Shuttle Buses, Autonomous Coach Buses, Electric Autonomous Buses, Autonomous Transit Buses
3) By Roboshuttles: Autonomous Airport Shuttles, Autonomous Public Transit Shuttles, Autonomous Corporate Campus Shuttles, Electric Roboshuttles, Low-Speed Autonomous Shuttles For Urban Mobility
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Who are the most influential companies in the heavy-duty autonomous vehicle market?
Major companies operating in the heavy-duty autonomous vehicle market are Volkswagen AG, Caterpillar Inc., Daimler Truck AG, AB Volvo, Traton Group, Continental AG, PACCAR Inc., Baidu Inc., Schaeffler AG, MAN Truck & Bus, Yutong Bus Co. Ltd., Mobileye N.V., Anhui Ankai Automobile Co. Ltd., Torc Robotics, Embark Trucks Inc., EasyMile, Aurora Innovation Inc., Einride AB, Navya Technology, TuSimple Holdings Inc.
What are the top industry trends projected to impact the heavy-duty autonomous vehicle market?
Major companies operating in the heavy-duty autonomous vehicle market are focused on developing advanced technology, such as a new generation of autonomous public transport, to enhance efficiency and improve safety in urban mobility solutions. A new generation of autonomous public transportation is the most innovative development in public transit systems, capable of navigating highways, interacting with traffic, and transporting passengers safely, resulting in a more reliable and sustainable public transit choice. For instance, in August 2023, Schaeffler AG, a Germany-based automotive industry company, partnered with VDL Groep, a Netherlands-based manufacturing company, to launch self-driving electric shuttles. These shuttles will utilize Mobileye’s autonomous driving systems, which have attained society of automotive engineers (SAE) Level 4 for full self-driving capability, eliminating the need for a human driver. Each shuttle is around 5 meters in length, 2.2 meters in width, and 2.8 meters in height, with six fixed seats and three movable seats, accommodating a total of nine passengers. With a cargo capacity of 1,000 kg and a weight of up to 5,000 kg, the vehicle can travel at speeds of up to 70 km/h.
What are the major regional insights for the heavy-duty autonomous vehicle market, and which region holds the top position?
North America was the largest region in the heavy-duty autonomous vehicle market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heavy-duty autonomous vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Heavy-Duty Autonomous Vehicle Market Report 2025 Offer?
The heavy-duty autonomous vehicle market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A heavy-duty autonomous vehicle is a self-driving, large-scale vehicle designed for tasks that require significant power and durability, such as transporting goods, construction, mining, or agriculture. These vehicles operate autonomously, using advanced sensors, AI, and machine learning to navigate and perform tasks without human intervention, enhancing efficiency and safety in demanding environments.
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