Dublin, March 11, 2024 (GLOBE NEWSWIRE) -- The "Europe Heavy-Duty Autonomous Vehicle Market: Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The Europe heavy-duty autonomous vehicle market (excluding U.K.) was valued at $39.6 billion in 2023 and is anticipated to reach $387.2 billion by 2032, witnessing a CAGR of 28.82% during the forecast period 2023-2032. The heavy-duty autonomous vehicle market is expected to grow due to rising demand for autonomous driving technology and the continuous progress and uptake of heavy-duty autonomous vehicles in public transportation, encompassing both semi-autonomous and fully autonomous functionalities. 
Market Introduction
The Europe heavy-duty autonomous vehicle market in Europe is poised for significant growth, driven by increasing demand for autonomous driving technology and the widespread adoption of heavy-duty autonomous vehicles in public transportation. With advancements in technology and regulatory frameworks supporting autonomous vehicle deployment, European countries are witnessing a surge in interest and investment in this sector.
Companies are developing and deploying semi-autonomous and fully autonomous heavy-duty vehicles for various applications, including freight transportation, logistics, and public transit. Additionally, initiatives promoting sustainability and reducing carbon emissions further incentivize the adoption of autonomous vehicles. As Europe continues to embrace innovative transportation solutions, the heavy-duty autonomous vehicle market is expected to expand rapidly, transforming the future of mobility in the region.
Market Segmentation
Segmentation 1: by Application
- Logistics
- Public Transportation
- Construction and Mining
- Others
Segmentation 2: by Propulsion Type
- Internal Combustion Engine Vehicles
- Electric Vehicles
Segmentation 3: by Vehicle Type
- Heavy Trucks
- Heavy Buses
- Roboshuttles
Segmentation 4: by Level of Autonomy
- Semi-Autonomous Vehicles
- Autonomous Vehicles
Segmentation 5: by Sensor Type
- LiDAR
- RADAR
- Camera
- Others
Segmentation 6: by Country
- Germany
- France
- Italy
- Rest-of-Europe
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Some of the prominent names established in this market are:
- AB Volvo
- Mercedes-Benz Group AG
- BMW Group
- ZF Friedrichshafen AG
Other companies mentioned include:
- Volkswagen AG
- Renault Trucks
- Traton Group
- Karsan
- 2getthere B.V.
- Schaeffler AG
- P3 Mobility
- HOLON GmbH
Trends: Current and Future
- Electrification and Automation of Commercial Vehicles
- Growing Number of Startups in the Autonomous Vehicle Ecosystem
- Rising Awareness about Autonomous Vehicles
Business Dynamics
- Business Drivers
- Development of Regulations for Autonomous Mobility
- Rising Developments and Integration of Autonomous Buses in Public Transport
- Developments of High-Tech Autonomous Solutions for Commercial Vehicles
- Business Restraints
- High Cost and Rising Price Volatility of Hardware Components
- Semiconductor Shortage Effect
- Business Opportunities
- Advantages Offered by Commercial Autonomous Vehicles to Logistics Industry
- Emerging Adoption of Roboshuttle
- Business Strategies
- Market Development
- Product Development
- Corporate Strategies
- Mergers and Acquisitions
- Partnerships, Collaborations, and Joint Ventures
Key Attributes
| Report Attribute | Details |
| No. of Pages | 155 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $39.6 Billion |
| Forecasted Market Value (USD) by 2032 | $387.2 Billion |
| Compound Annual Growth Rate | 28.8% |
| Regions Covered | Europe |
For more information about this report visit https://www.researchandmarkets.com/r/6whfnz
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