Truck Platooning Systems Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Peloton Technology, Volvo, Scania, Daimler

Registering a CAGR of 30.3% over the forecast period, the market value of Truck Platooning Systems is expected to reach US$ 4653.5 million in the year 2027.

Truck Platooning Systems Market Overview

Truck platooning will be possible only if many parties join forces. Numerous different issues are involved: reliably automated vehicles, the technology to enable trucks to communicate with each other and with the infrastructure, legislation, human behavior, public acceptance, liability and insurance. In 2021, Level 2 and 3 platooning is expected to enter the market. Every new truck being produced is mandated to have advanced safety systems (sensors, cameras, electronic controls, and stability) installed, thus enabling the proliferation of autonomous driving technologies.

The growing environmental pollution, traffic congestion, and demand for safer, cleaner, and more efficient vehicles are driving the global growth of the truck platooning market. Furthermore, the government's stringent norms imposed to reduce rising fuel emissions, as well as various initiatives taken in favor of promoting autonomous vehicles, are driving the growth of the truck platooning market. On the other hand, the high cost of platooning technology increased privacy and security concerns, and the high risk of cyber threats are expected to stymie the growth of the truck platooning market.

The report also assesses the key opportunities in the Truck Platooning Systems market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global Truck Platooning Systems Market has also been forecasted for the period 2022-2027, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

Who are the Major Players in the Truck Platooning Systems Market?

The global Truck Platooning Systems includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Peloton Technology, Volvo, Scania, Daimler, Navistar, Toyota, Uber, Bendix Commercial Vehicles Systems, DAF, Continental AG, IVECO, MAN Truck & Bus and others.

Industry News and Updates:

In November 2020, Scania purchased Nantong Gaokai, a truck manufacturer in China, to produce trucks for the first time in the world's largest auto market. The goal of the acquisition is to bring safer and more fuel-efficient vehicles to the market by promoting technologies such as truck platooning.

What are the major Applications, Types, and Regions for the Truck Platooning Systems Market?

The market is segmented based on the type, applications, companies, and regions.

By Type, it is segmented into

• Software


• Device

By Application, it is segmented into

• Heavy Trucks


• Light Trucks

Truck Platooning Systems Market Regional Analysis

The truck platooning market is divided into four regions: North America, Europe, Asia Pacific, and the rest of the world. North America currently holds the largest share of the global truck platooning market and is expected to maintain its dominance throughout the forecast period. The transportation sector plays an important role in logistical operations, and trucks are essential in the transport industry in this region. In June 2018, the North Carolina Turnpike Authority, Volvo, and FedEx announced a collaboration to demonstrate platooning of Volvo trucks on North Carolina highways. Furthermore, the National Transportation Safety Board (NTSB) and the National Highway Traffic Safety Administration (NHTSA) have upgraded regulatory policies to include greater accountability, improved safety, and security, which is contributing to the growth of the truck platooning market in this region. The major countries in this region are quickly adopting autonomous vehicle technology, which is driving market growth.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Truck Platooning Systems Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global Truck Platooning Systems Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Truck Platooning Systems Market report scope?

Scope of the Report covers Truck Platooning Systems Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Truck Platooning Systems Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.

Key Takeaways from this Truck Platooning Systems Report

• Evaluate Truck Platooning Systems market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.


• Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.


• Get a quick outlook on the Truck Platooning Systems market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.


• Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Truck Platooning Systems Market is studied from 2017 - 2027.

What is the growth rate of the Truck Platooning Systems Market?

The Truck Platooning Systems Market is growing at a CAGR of 30.3% over the next 5 years.

Who are the key players in Truck Platooning Systems Market?

Peloton Technology, Volvo, Scania, Daimler, Navistar, Toyota, Uber, Bendix Commercial Vehicles Systems, DAF, Continental AG, IVECO, MAN Truck & Bus

What regions does this Truck Platooning Systems Market report cover?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Truck Platooning Systems Market?

Software, Device

What are the major end-use applications of Truck Platooning Systems Market?

Heavy Trucks, Light Trucks

 

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