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Major Force in the Autonomous Commercial Vehicle Market 2025: Government Approvals Fuel Growth In The Autonomous Commercial Vehicle Market
Autonomous Commercial Vehicle Market Size
In recent years, the autonomous commercial vehicle market has witnessed a rapid expansion. The market size, which is poised to surge from $9.73 billion in 2024 to $11.42 billion in 2025, projects a compound annual growth rate (CAGR) of 17.3%. This significant growth during the historical period is a result of developments in robotics and artificial intelligence, labor deficits, enhanced safety and efficiency, regulatory measures, and the progression of e-commerce.
The market size for autonomous commercial vehicles is projected to experience a swift expansion in the upcoming years, reaching a value of $22.84 billion in 2029, with a compound annual growth rate (CAGR) of 18.9%. The surge predicted within this period can be credited to the ongoing improvements in areas of sensors, machine learning and connectivity, lack of drivers, safety norms, environmental issues, and supply chain effectiveness. Key trends foreseen during this period include last-mile delivery, platoon technology, remote monitoring of fleets, operation in mixed-traffic settings, and partnerships or collaborations.
What Key Elements Are Boosting Growth in the Autonomous Commercial Vehicle Market?
The autonomous commercial vehicle market is expanding due to the rise in government permits for testing self-driving trucks on public roads. In a bid to encourage the use of commercial vehicles for delivery and other functions, major countries' governments are authorizing the testing of autonomous vehicles. The California Department of Motor Vehicles (DMV) has floated a rule that would enable businesses to deploy or test light-duty autonomous motor trucks or delivery vehicles on the state's public roads. As per the rule, companies can test delivery vehicles weighing under 10,001 pounds with a permit approved by the DMV. This government sanction for testing self-driving vehicles on roads allows consumers to preview such vehicles, thereby creating a potential sales opportunity in the future. Consequently, this is propelling the demand and further growth of the autonomous commercial vehicles in the years ahead.
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Who Are the Major Industry Players Fueling Autonomous Commercial Vehicle Market Expansion?
Major companies operating in the autonomous commercial vehicle market include Volkswagen AG, Daimler AG, Tesla Inc., Denso Corporation, Continental AG, Waymo LLC, Bayerische Motoren Werke Aktiengesellschaft, Isuzu Motors Limited, General Motors Company, AB Volvo, Beiqi Foton Motor Co. Ltd., Skywell New Energy Vehicles Group Co. Ltd., Dongfeng Motor Corporation, China National Heavy Duty Truck Group Co. Ltd. (SINOTRUK), FAW Jiefang Automobile Co. Ltd., Shaanxi Automobile Group Co. Ltd. (China Shaanqi), Beiben Trucks Group Co. Ltd. (Beiben Trucks), SAIC Iveco Hongyan Commercial Vehicle Co. Ltd. (SAIC Hongyan), Jiangling Motors Corporation Group (JMC), Zhengzhou Yutong Bus Co. Ltd. (Zhengzhou Yutong Bus), Xiamen King Long United Automotive Industry Co. Ltd. (King Long Bus), CRRC Electric Vehicle Co. Ltd. (CRRC Electric Vehicle), Xiamen Golden Dragon Bus Co. Ltd. (Xiamen Golden Dragon Bus), Anhui Ankai Automobile Co. Ltd. (Anhui Ankai Automobile), Plus.ai Inc. (Plus.ai), Embark Trucks Inc. (Embark Trucks), Daimler Trucks North America LLC (Daimler Trucks), NVIDIA Corporation, Zoox Inc., Luminar Technologies Inc.
Which Key Developments Are Influencing the Autonomous Commercial Vehicle Market?
The introduction of innovative products is a prominent trend gaining traction in the autonomous commercial vehicle market. Market participants are centering their efforts on the unveiling of fresh products to realize considerable cost advantages, and guarantee product quality, safety, and user experience. To illustrate, in October 2022, the Chinese electric vehicle manufacturing company XPeng launched the G9 SUV, a commercial vehicle produced on a large scale, equipped with a cutting-edge driver assistance system (ADAS) called XNGP. This tech amalgamates XPeng's Highway Navigated Guided Pilot (NGP) and City NGP, allowing the automation of certain operations in both highway and city driving scenarios.
How Is the Segmentation of the Autonomous Commercial Vehicle Market Defined?
The autonomous commercial vehicle market covered in this report is segmented -
1) By Vehicle: Truck, Trailer, Bus, Other Vehicle Types
2) By Automation Level: Driver Assistance, Partial Automation, Conditional Automation, High Automation, Full Automation
3) By Fuel Type: Conventional, Hybrid Vehicle, Electric Vehicle
Subsegments:
1) By Truck: Light Duty Trucks, Medium Duty Trucks, Heavy Duty Trucks
2) By Trailer: Flatbed Trailers, Refrigerated Trailers, Tanker Trailers, Container Trailers
3) By Bus: Autonomous Passenger Buses, Autonomous Shuttle Buses
4) By Other Vehicle Types: Autonomous Delivery Vans, Autonomous Service Vehicles, Autonomous Construction Vehicles
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What Is the Leading Region in the Autonomous Commercial Vehicle Market?
Asia-Pacific was the largest region in the autonomous commercial vehicle market in 2023. North America was the second largest region in the autonomous commercial vehicle market. The regions covered in the autonomous commercial vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Autonomous Commercial Vehicle Global Market Report?
- Market Size Analysis: Analyze the Autonomous Commercial Vehicle Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Autonomous Commercial Vehicle Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Autonomous Commercial Vehicle Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Autonomous Commercial Vehicle Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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