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Global Truck Platooning Market: By Technology: Adaptive Cruise Control, Forward Collision Avoidance, Lane Departure Warning, Others; By Platooning Type; By Communication Technology; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Truck Platooning Market Outlook

The global truck platooning market reached a value of about USD 38.61 million in 2021. The market is further expected to grow at a CAGR of 60.50%  in the forecast period of 2023-2028 to reach a value of approximately USD 659.98 million by 2027.

 

Global Truck Platooning Market

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Europe and North America Represent a Significant Share in the Market Growth of Truck Platooning

Europe and North America are substantially investing in truck platooning technology to cater to various needs of people. The market growth can be associated with major technological advancements in truck platooning technology such as the integration of Internet of Things (IoT) technology. In addition to this, the implementation of strict government regulations pertaining to vehicle safety such as the European Automobile Manufacturers Association's (ACEA) General Safety Regulation  is another factor providing impetus to the market growth in Europe.

North America is also investing in truck platoon activities, which began with initiatives by automotive giants like Daimler AG, Volvo, and others. The National Highway Traffic Safety Administration (NHTSA) and the National Transportation Safety Board (NTSB) in the United States are developing favourable regulatory rules that emphasise accountability, safety, and compliance, which are assisting the growth of the market. Furthermore, North American transportation vehicles play an important role in assisting logistics and contribute significantly to the transportation business, hence positively influencing the growth of the market.

 

Truck Platooning: Market Segmentation

Truck platooning refers to the use of connectivity technology and an automated driving support system to join two or more vehicles in a group. Assisted by the platooning technology, vehicles can accelerate and brake simultaneously, in addition to keeping a predefined distance between them. The platoon's leader is the truck at the front, and the remaining trucks adjust to changes in the platoon's movement. The drivers can also opt out of the platoon and drive on manual mode.

 

Global Truck Platooning Market By Segment

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By technology, the market is divided into:

  • Adaptive Cruise Control
  • Forward Collision Avoidance
  • Lane Departure Warning
  • Active Braking Assist
  • Blind Spot Warning
  • Global Positioning System
  • Autonomous Emergency Braking
  • Others

Based on platooning type, the market includes:

  • Driver Assistive Truck Platooning (DATP)
  • Autonomous Truck Platooning

On the basis of communication technology, the market can be classified into:

  • Vehicle-to-Infrastructure (V2I)
  • Vehicle-to-Vehicle (V2V)
  • Vehicle-to-Everything (V2X)

The EMR report looks into the regional markets for the truck platooning like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Truck Platooning Market By Region

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Increasing Focus Toward Reducing the Operating Cost of Transportation Augmenting the Market Growth

The primary cause of most traffic accidents is driver distraction and loss of focus due to tiredness. As a result, rising concerns about road safety and security are playing a significant role in the implementation of truck platooning, hence driving the market growth.  In addition, the focus on lowering operational costs is another factor propelling the growth of the market. With rising fuel costs, the reduction in profit margins is a key factor augmenting the demand for truck platooning technology.

The demand for truck platoons is expected to grow with the rising research and development in the area of autonomous and semi-autonomous vehicles, which provide safety features such as Forward Collision Warning (FCW), Lane Keep Assist (LKA), Adaptive Cruise Control (ACC), and other Advanced Driver Assistance System (ADAS). Furthermore, the expanding adoption of the Internet of Things (IoT) technology and related infrastructure in transportation systems, such as smart vehicle applications, transportation logistics applications, and guidance and control systems, among others, is complementing the expansion of truck platooning.

 

Key Industry Players in the Global Truck Platooning Market

The report gives a detailed analysis of the following key players in the global truck platooning market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Scania CV AB
  • Continental AG
  • Daimler AG
  • Peloton Technology, Inc.
  • Knorr-Bremse AG
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Technology, Platooning Type, Communication Technology, Region
Breakup by Technology Adaptive Cruise Control, Forward Collision Avoidance, Lane Departure Warning, Active Braking Assist, Blind Spot Warning, Global Positioning System, Autonomous Emergency Braking, Others
Breakup by Platooning Type Driver Assistive Truck Platooning (DATP), Autonomous Truck Platooning
Breakup by Communication Technology Vehicle-to-Infrastructure (V2I), Vehicle-to-Vehicle (V2V), Vehicle-to-Everything (V2X)
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Scania CV AB, Continental AG, Daimler AG, Peloton Technology, Inc., Knorr-Bremse AG, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Truck Platooning Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Truck Platooning Historical Market (2018-2022) 
    8.3    Global Truck Platooning Market Forecast (2023-2028)
    8.4    Global Truck Platooning Market by Technology
        8.4.1    Adaptive Cruise Control
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Forward Collision Avoidance
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Lane Departure Warning
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Active Braking Assist
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
        8.4.5    Blind Spot Warning
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2018-2022)
            8.4.5.3    Forecast Trend (2023-2028)
        8.4.6    Global Positioning System
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2018-2022)
            8.4.6.3    Forecast Trend (2023-2028)
        8.4.7    Autonomous Emergency Braking
            8.4.7.1    Market Share
            8.4.7.2    Historical Trend (2018-2022)
            8.4.7.3    Forecast Trend (2023-2028)
        8.4.8    Others
    8.5    Global Truck Platooning Market by Platooning Type
        8.5.1    Driver Assistive Truck Platooning (DATP)
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Autonomous Truck Platooning
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global Truck Platooning Market by Communication Technology
        8.6.1    Vehicle-to-Infrastructure (V2I)
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Vehicle-to-Vehicle (V2V)
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Vehicle-to-Everything (V2X)
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    Global Truck Platooning Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022) 
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022) 
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022) 
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022) 
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022) 
            8.7.5.3    Forecast Trend (2023-2028)
9    North America Truck Platooning Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Truck  Platooning Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific  Truck Platooning Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Truck Platooning Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Truck Platooning Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5     Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     Scania CV AB
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Continental AG
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Daimler AG
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Peloton Technology, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5     Knorr-Bremse AG
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Truck Platooning Market: Key Industry Highlights, 2018 and 2028
2.    Global Truck Platooning Historical Market: Breakup by Technology (USD Million), 2018-2022
3.    Global Truck Platooning Market Forecast: Breakup by Technology (USD Million), 2023-2028
4.    Global Truck Platooning Historical Market: Breakup by Platooning Type (USD Million), 2018-2022
5.    Global Truck Platooning Market Forecast: Breakup by Platooning Type (USD Million), 2023-2028
6.    Global Truck Platooning Historical Market: Breakup by Communication Technology (USD Million), 2018-2022
7.    Global Truck Platooning Market Forecast: Breakup by Communication Technology (USD Million), 2023-2028
8.    Global Truck Platooning Historical Market: Breakup by Region (USD Million), 2018-2022
9.    Global Truck Platooning Market Forecast: Breakup by Region (USD Million), 2023-2028
10.    North America Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2022
11.    North America Truck Platooning Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Europe Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Europe Truck Platooning Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Asia Pacific Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Asia Pacific Truck Platooning Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Latin America Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Latin America Truck Platooning Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Middle East and Africa Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Middle East and Africa Truck Platooning Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Global Truck Platooning Market Structure

Key Questions Answered in the Report

In 2021, the global truck platooning market attained a value of nearly USD 38.61 million.

The market is projected to grow at a CAGR of 60.50% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 659.98 million by 2027.

The market is being driven by the rising adoption of truck platooning technology to reduce operational costs, comply with vehicle safety regulations, and advancements in IoT technology.

The market growth is projected to be determined by the advancements in autonomous and semi-autonomous truck technologies in the coming years.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major technologies of truck platooning are adaptive cruise control, forward collision avoidance, lane departure warning, active braking assist, blind spot warning, global positioning system, and autonomous emergency braking, among others.

The various platooning types of truck platooning are driver assistive truck platooning (DATP), and autonomous truck platooning.

The different communication technologies of truck platooning are vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and vehicle-to-everything (V2X).

The major players in the industry are Scania CV AB, Continental AG, Daimler AG, Peloton Technology, Inc., and Knorr-Bremse AG, among others.

Analyst Review

The global truck platooning market attained a value of about USD 38.61 million in 2021, driven by the increasing focus on lowering operational costs. Aided by the expanding adoption of the internet of things (IoT) and the rising concerns about road safety, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 60.50% to reach a value of nearly USD 659.98 million by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on technology, the market is categorised into adaptive cruise control, forward collision avoidance, lane departure warning, active braking assist, blind spot warning, global positioning system, and autonomous emergency braking, among others. The market, based on platooning type, can be segmented into driver assistive truck platooning (DATP), and autonomous truck platooning. On the basis of  communication technology, the market can be divided into vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and vehicle-to-everything (V2X). The major regional markets for truck platooning are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market are Scania CV AB, Continental AG, Daimler AG, Peloton Technology, Inc., and Knorr-Bremse AG, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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