Truck Platooning Market estimated to grow at 11% CAGR between 2019 and 2023 due to growing sales of commercial vehicle and advanced cruising technologies. Report provides historical and projected Truck Platooning Market size, Share, industry growth, trends in terms of value and volume.
— Report Analyzes Global Truck Platooning Market Research Report: Information by Component (Forward Looking Camera, System Display with Rear Time Camera, RADAR Base Collision Mitigation), Technology (Acceleration & Braking Controller, DSRS V2V Communication), and Regional Forecast till 2023. Breakthroughs in platooning technologies coupled with the need for smart logistical solutions are the main factors driving the market. The need for superior efficiency and lack of traffic jams while delivering goods is likely to bode well for the truck platooning market.
The key players in the global Truck Platooning market include:
OTTO Technologies, Meritor Wabco, AB Volvo, Navistar International Corporation, Delphi Automotive PLC, Scania AB, Peloton Technology, Daimler AG, Bendix Commercial Vehicles Systems LLC, Continental AG, and others.
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The global truck platooning market is expected to record 11% CAGR during the forecast period (2018-2023). Market Research Future (MRFR) in their report banked on factors and segmentation for a better understanding of the forecast period. Truck platooning comprises a fleet of trucks driving in unison aided by advanced drivers’ systems. These platoons are gaining prominence in the transportation sector considering increasing pollution problems and need for effective measures to curb emission levels. Truck platooning benefits include efficient traffic flow, faster reacting time compared to human drivers, and low costs.
The emergence of self-driving and electric trucks is expected to be the next big trend which can take the truck platooning market ahead. Well-known players such as Tesla and Volvo have shown interest in platooning technologies owing to the fuel-saving component. In June 2018, Volvo Trucks partnered with FedEx to test advanced driver assistance systems (ADAS) which can have future applications in freight companies. This news is further supported by the move by Volvo to introduce all-electric trucks in North America.
Truck Platooning Market Segment Analysis:
The global truck platooning market, as profiled by MRFR for an in-depth analysis, has segments like component, technology, and vehicle type. It is further backed up by the data gathered by considering revenue generated by each segment.
Based on the components, the truck platooning market comprises forward looking camera, system display with rear time camera, driver-centric design, and radar-based collision mitigation. Latest technologies are giving traction to the radar-based collision mitigation segment.
Based on the technology, the truck platooning market includes GPS, cellular & Wi-Fi communication, acceleration & braking controller, and dedicated short range communication V2V communication. The GPS segment is gaining substantial mileage owing to its ability to provide real-time updates about the vehicle’s position.
Based on the vehicle type, the truck platooning market comprises light commercial vehicle, and heavy commercial vehicle.
Truck Platooning Market Regional Market Analysis:
Region-wise, the truck platooning market covers Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW). Europe is predicted to be the dominating region of the market thanks to demand for smart automated driving systems in the U.K., France, and Germany. The uptick noticed in sales of commercial vehicles can expand the regional market size exponentially. Moreover, the existence of major truck manufacturers coupled with their strong distribution network can influence the market.
The APAC region is touted to be the second-best performer of the truck platooning market. This can be attributed to heavy demand for commercial vehicles and the burgeoning logistics sector. In addition, the high need for proper traffic management and concerns of driver safety is likely to bolster the demand for platooning technologies.
The North America region is predicted an above-par growth thanks to supportive policies by transportation departments in the U.S. and Canada. Investments of platooning technologies by truck manufacturers owing to strong economies are likely to bode well for the regional market growth. Moreover, a collaboration of automated technology developers with long-haul fleet owners and increasing partnerships can engulf the market.
Latest Industry News:
The US Department of Transportation (USDOT) released a Broad Agency Announcement or BAA to assess in-service truck platoon scenario to develop synergistic truck platooning pilot deployment concept and better other factors such as building partnerships among stakeholders and enhance deployment plans. It will support the freight industry and increase safety.
Truck Platooning Market manufacturers
Truck Platooning Market Suppliers
Research and Development (R&D) Companies
Distributer & Supplier companies
Consultants and Investment bankers
Table of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Truck Platooning Market, By Component
5.2 Forward Looking Camera
5.2.1 Market Estimates & Forecast, 2018–2023
5.2.2 Market Estimates & Forecast By Region, 2018–2023
5.3 System Display With Rear Time Camera
5.3.1 Market Estimates & Forecast, 2018–2023
5.3.2 Market Estimates & Forecast By Region, 2018–2023
5.4 Driver-Centric Design
5.4.1 Market Estimates & Forecast, 2018–2023
5.4.2 Market Estimates & Forecast By Region, 2018–2023
5.5 RADAR Base Collision Mitigation
5.5.1 Market Estimates & Forecast, 2018–2023
5.5.2 Market Estimates & Forecast By Region, 2018–2023
6 Global Truck Platooning Market, By Technology
6.2 Acceleration & Braking Controller
6.2.1 Market Estimates & Forecast, 2018–2023
6.2.2 Market Estimates & Forecast By Region, 2018–2023
6.3.1 Market Estimates & Forecast, 2018–2023
6.3.2 Market Estimates & Forecast By Region, 2018–2023
6.4 Cellular & Wi-Fi Communication
6.4.1 Market Estimates & Forecast, 2018–2023
6.4.2 Market Estimates & Forecast By Region, 2018–2023
6.5 DSRS Vehicle To Vehicle Communication
6.5.1 Market Estimates & Forecast, 2018–2023
6.5.2 Market Estimates & Forecast By Region, 2018–2023
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