Autonomous Commercial Vehicle Global Market Opportunities And Strategies To 2034

The autonomous commercial vehicle market is segmented by vehicle into truck, trailer, bus and other vehicle types. The truck market was the largest segment of the autonomous commercial vehicle market segmented by vehicle, accounting for 51.81% or $5.1 billion of the total in 2024. Going forward, the truck segment is expected to be the fastest growing segment in the autonomous commercial vehicle market segmented by vehicle, at a CAGR of 19.68% during 2024-2029.

The autonomous commercial vehicle market is segmented by automation level into automation level into driver assistance, partial automation, conditional automation and high automation. The driver assistance market was the largest segment of the autonomous commercial vehicle market segmented by automation level, accounting for 78.81% or $7.76 billion of the total in 2024. Going forward, the partial automation segment is expected to be the fastest growing segment in the autonomous commercial vehicle market segmented by automation level, at a CAGR of 46.72% during 2024-2029.

The autonomous commercial vehicle market is segmented by fuel type into conventional, hybrid vehicle and electric vehicle. The conventional market was the largest segment of the autonomous commercial vehicle market segmented by fuel type, accounting for 59.21% or $5.83 billion of the total in 2024. Going forward, the electric vehicle segment is expected to be the fastest growing segment in the autonomous commercial vehicle market segmented by fuel type, at a CAGR of 25.11% during 2024-2029.

North America was the largest region in the autonomous commercial vehicle market, accounting for 50.22% or $4.94 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the autonomous commercial vehicle market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 26.40% and 18.77% respectively. These will be followed by South America and North America where the markets are expected to grow at CAGRs of 16.65% and 16.53% respectively.

The global autonomous commercial vehicle market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 19.95% of the total market in 2023. Daimler Truck AG was the largest competitor with a 3.64% share of the market, followed by Volvo Group with 3.61%, Volkswagen AG with 2.98%, Yutong Bus Co., Ltd. with 2.29%, Ford Motor Company with 1.74%, Sinotruk Hong Kong Limited with 1.27%, BYD Co. Ltd. with 1.27%, Nissan Motor Corp. with 1.27%, Iveco Group N.V. with 0.99% and Toyota Motor Corp. with 0.89%.

The top opportunities in the autonomous commercial vehicle markets segmented by vehicle will arise in the truck segment, which will gain $7.42 billion of global annual sales by 2029. The top opportunities in the autonomous commercial vehicle markets segmented by automation level will arise in the driver assistance segment, which will gain $4.25 billion of global annual sales by 2029. The top opportunities in the autonomous commercial vehicle markets segmented by fuel type will arise in the conventional segment, which will gain $5.63 billion of global annual sales by 2029. The autonomous commercial vehicle market size will gain the most in the USA at $5.07 billion.

Market-trend-based strategies for the autonomous commercial vehicle market include development of innovative autonomous delivery vehicles, developing innovative autonomous vehicle platform, strategic partnerships approach to develop advanced solutions, developing innovative autonomous electric vehicles to enhance sustainability and reduce emissions, strategic investments to fast-track technology development and developing comprehensive ecosystems that support end-to-end autonomous operations.

This report describes and explains the autonomous commercial vehicle market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global autonomous commercial vehicle market reached a value of nearly $9.84 billion in 2024, having grown at a compound annual growth rate (CAGR) of 11.02% since 2019. The market is expected to grow from $9.84 billion in 2024 to $23.26 billion in 2029 at a rate of 18.76%. The market is then expected to grow at a CAGR of 20.06% from 2029 and reach $58.02 billion in 2034.

Growth in the historic period resulted from the shortage of skilled commercial drivers, favorable government support and surge in adoption of electric vehicles. Factors that negatively affected growth in the historic period were limited consumer trust and rising cybersecurity threats.

Going forward, the rise in development of smart cities, increasing use of 5G and smart connectivity in vehicles, increasing consumer demand for faster deliveries and growth in e-commerce and logistics will drive the growth. Factor that could hinder the growth of the autonomous commercial vehicle market in the future include regulatory challenges and high development costs.

Player-adopted strategies in the autonomous commercial vehicle market include focus on expanding its business capabilities through innovative product launch.

To take advantage of the opportunities, the analyst recommends the autonomous commercial vehicle companies to focus on advancing autonomous delivery solutions for urban logistics, focus on scaling purpose-built autonomous platforms for industrial and logistics applications, focus on advancing sustainable and region-optimized autonomous solutions, focus on strengthening strategic investments to accelerate autonomous innovation, focus on building integrated ecosystems for scalable deployment, focus on prioritizing the truck segment to maximize market growth, focus on capturing growth in the partial automation segment, focus on electric vehicle segment for accelerated growth, expand in emerging markets, focus on forming strategic partnerships to accelerate deployment and innovation, focus on tiered pricing and long-term value creation, prioritize targeted digital outreach to fleet operators and logistics buyers, collaborate with industry stakeholders to build awareness and trust, focus on end-user engagement through skilled workforce and customer support.

This product will be delivered within 3-5 business days.