The Global Automotive industry has been experiencing a shift towards newer and more sustainable powertrain technologies. These technologies include a combination of LiDAR, RADAR, Sensors, cameras, etc., which help gather vast information about the moving vehicles and assist the vehicle in cruising at a safer speed and reducing the need for constant braking.
According to the UnivDatos, growing demand for fully autonomous trucks with increased range will drive the global scenario of autonomous trucks and as per their “Global Autonomous Trucks market” report, the global market was valued at USD 478.22 million in 2023, growing at a CAGR of 13.78% during the forecast period from 2024 - 2032 to reach USD 1527.84 million by 2032.
These technologies, along with the integration of pertinent software, also help to offer better handling and range with respect to real-time data availability through connectivity measures.
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Adoption Among the Automakers:
Many of the automakers have started offering autonomous trucks targeting the commercial sector due to their higher cost-sensitivity. The respective technology is also being offered with the electric powertrain technology, further improving the range and reducing the cost per kilometer running, subsequently reducing the cost. For this the automakers have opted for collaboration with the autonomous driving technology providers. For instance, in 2021, Volvo Autonomous Solutions and Aurora announced their partnership to jointly develop highway autonomous trucks (class 8 trucks). This prototype includes a Volvo truck long-haul VNL model integrated with Aurora Driver Technology. In line with the rising need to provide a more environment-friendly option for goods transportation, e-commerce, and freight carriers, companies have also exhibited their interest in autonomous trucks. According to the American Transportation Research Institute, autonomous trucks could reduce operational costs by 50% in the long run. This includes factors such as labor wages, fuel costs, truck lease/purchase payments, repair & maintenance, and insurance costs.
Inclination Towards Green Mobility:
With the growing climate changes and enhanced incentives to opt for electric vehicles, many of the customers have shifted towards electric powertrain systems. Considering the lower running and maintenance costs due to the fewer moving parts, customers are positively looking forward to the mobility change. With the shift in consumer behavior of the truck companies with the implementation of various newer technologies and solutions that can better suit the demand of the companies and ease the adoption of autonomous trucks with electric powertrains, many of the companies have already announced their purchase of autonomous trucks. For instance, In 2023, Loadsmith, a leading third-party Capacity-as-a-Service logistics, ordered 800 new autonomous trucks from Kodiak Robotics Inc., which will be delivered in the second half of 2025.
In another instance, in 2023, Inception Technology, one of the Chinese autonomous technologies provider announced that it has ordered 500 inceptio trucks jointly developed with Dongfeng Commercial Vehicles (DFCV) and ZTO Freight ordered 200 inceptio trucks jointly developed with Sinotruk.
These updates along with the technological updating would be further conducive to the adoption of autonomous trucks in the coming period i.e., 2024-2032.
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Conclusion:
The Global Autonomous Trucks market is experiencing a transformative phase driven by technological advancements, sustainability mobility initiatives, digitalization, mobility transition, market dynamics, and implementation of government policies. Stakeholders across the industry are embracing these trends to enhance operational efficiency, reduce environmental footprint, and seize new opportunities in rapidly evolving sustainable automotive offerings. As the region continues to play a strategic role in global trade and shipping, staying abreast of these trends and embracing innovation will be crucial for shaping a sustainable and prosperous future for the Global Autonomous Trucks market.
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