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Semi-Autonomous & Autonomous Trucks and Buses Market worth $179.9 billion by 2035
Semi-Autonomous & Autonomous Trucks and Buses Market - Global Forecast to 2035
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Electric segment is expected to be the fastest in the Semi-autonomous & autonomous Trucks and Buses market
The electric segment is expected to be the fastest one during the forecast period. The rising demand for passenger safety and efficient bus transit operations would boost the demand for the electric segment for the advanced semi-autonomous bus market during the forecast period. Favorable government regulations for better road safety would positively impact the semi-autonomous bus market. Features such as AEB and BSD are expected to be compulsory for all vehicles, including buses. In December 2023, Davao Metro Shuttle Corporation (Philippines) launched a self-driving shuttle and its first electric bus, which includes AEB and ACC features.
Shuttle segment is estimated to exhibit the fastest growth in Semi-autonomous & autonomous Trucks and Buses market
The shuttles segment is expected to be the fastest market in the semi-autonomous & autonomous trucks and buses market, as they are commercialized. Navya (US), Easilmile (France), and Local Motors (US) have developed self-driving shuttles. Successful pilot programs of autonomous shuttles worldwide indicate that shuttles could be a practical solution to the gaps in traditional public transport. In January 2023, EasyMile(France) partnered with Keolis (France) on an autonomous shuttle project underway at France's National Sports Shooting. Such partnerships highlight the growth of the shuttles segment in the market.
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US to lead the Semi-autonomous & autonomous Trucks and Buses market in North America
The US is expected to have the largest market share in terms of value in the North American semi-autonomous & autonomous trucks and buses market due to strict safety regulations imposed by the NHTSA that have compelled OEMs to provide safety features. Road safety is very critical for efficient transportation. Semi-autonomous buses and trucks can help to improve safety, which, in turn, would boost the market in the region. Major OEMs in the region are forming supply contracts for products like sensors, LiDAR that would further enhance their vehicles performance. For instance, in January 2024, Daimler Truck AG (Germany) and TORC Robotics (US) selected Aeva Technologies (US) to Supply advanced 4D LiDAR technology for series-production of autonomous trucks.
Key Players
The Semi-autonomous & autonomous Trucks and Buses market is dominated by global players such as Daimler Truck AG (Germany), AB Volvo (Sweden), Iveco S.p.A. (Netherlands), NVIDIA Corporation (US), Robert Bosch GmbH (Germany), Continental AG (Germany), among others. These companies adopted new product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions to gain traction in the market.
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