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Global Truck Platooning Market Size, Share, Growth, Trends: By Technology: Adaptive Cruise Control, Forward Collision Avoidance, Lane Departure Warning, Active Braking Assist, Blind Spot Warning, Global Positioning System, Others; By Platooning Type; By Communication Technology; Regional Analysis; Competitive Landscape; 2024-2032
Global Truck Platooning Market Outlook
The global truck platooning market reached a value of about USD 99.46 million in 2023. The market is further expected to grow at a CAGR of 60.5% in the forecast period of 2024-2032 to reach a value of approximately USD 7029.20 million by 2032.
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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.
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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.
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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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Technology |
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| Breakup by Platooning Type |
|
| Breakup by Communication Technology |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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 (2018-2023)
8.3 Global Truck Platooning Market Forecast (2024-2032)
8.4 Global Truck Platooning Market by Technology
8.4.1 Adaptive Cruise Control
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Forward Collision Avoidance
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Lane Departure Warning
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Active Braking Assist
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Blind Spot Warning
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Global Positioning System
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Autonomous Emergency Braking
8.4.7.1 Historical Trend (2018-2023)
8.4.7.2 Forecast Trend (2024-2032)
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 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Autonomous Truck Platooning
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Truck Platooning Market by Communication Technology
8.6.1 Vehicle-to-Infrastructure (V2I)
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Vehicle-to-Vehicle (V2V)
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Vehicle-to-Everything (V2X)
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Truck Platooning Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Truck Platooning Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Truck Platooning Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Truck Platooning Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Truck Platooning Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Truck Platooning Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
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 2032
2. Global Truck Platooning Historical Market: Breakup by Technology (USD Million), 2018-2023
3. Global Truck Platooning Market Forecast: Breakup by Technology (USD Million), 2024-2032
4. Global Truck Platooning Historical Market: Breakup by Platooning Type (USD Million), 2018-2023
5. Global Truck Platooning Market Forecast: Breakup by Platooning Type (USD Million), 2024-2032
6. Global Truck Platooning Historical Market: Breakup by Communication Technology (USD Million), 2018-2023
7. Global Truck Platooning Market Forecast: Breakup by Communication Technology (USD Million), 2024-2032
8. Global Truck Platooning Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Truck Platooning Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Truck Platooning Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Truck Platooning Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Truck Platooning Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Truck Platooning Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Truck Platooning Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Truck Platooning Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Truck Platooning Market Structure
Key Questions Answered in the Report
In 2023, the global truck platooning market attained a value of nearly USD 99.46 million.
The market is projected to grow at a CAGR of 60.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 7029.20 million by 2032.
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 99.46 million in 2023, 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 2024-2032, growing at a CAGR of 60.5% to reach a value of nearly USD 7029.20 million by 2032.
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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