Truck Platooning Market - 2019 Size, Growth, Share, Trends, Competitive, Regional Analysis With Global Industry Forecast To 2023

Truck Platooning Market growing at 11% CAGR during 2019 to 2023, according to “Truck Platooning Market 2019 Global Industry Analysis to 2023 Research Report”, published by Market Research Future. Global Truck Platooning Market by Component , Technology, and Region with forecast to 2023.

Truck Platooning Market growing at 11% CAGR during 2019 to 2023, according to “Truck Platooning Market 2019 Global Industry Analysis to 2023 Research Report”, published by Market Research Future. Global Truck Platooning Market by Component (Forward Looking Camera, System Display with Rear Time Camera, RADAR Base Collision Mitigation), Technology (Acceleration & Braking Controller, DSRS V2V Communication), and Region with forecast to 2023.

Global Truck Platooning Market Forecast Highlights:

The global truck platooning market is expected to get good traction from several companies who involved and invested themselves in taking the market ahead. These companies are AB Volvo (Sweden), Daimler AG (Germany), Scania AB (Sweden), Meritor Wabco (Auburn Hills), Peloton Technology (US), Navistar International Corporation (US), Bendix Commercial Vehicles Systems LLC (Ohio), Delphi Automotive PLC (Dublin), Continental AG (Germany), OTTO Technologies (San Francisco), and others.

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The global truck platooning market is projected to expand at 11% CAGR over the forecast period (2018-2023), as per Market Research Future (MRFR). 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.

Factors to impact the truck platooning market are increased fuel efficiency, better support for automated & smart vehicles, less carbon discharge, stringent environmental regulations, better logistics & transportation facilities, enhanced information technology, hike in commercial vehicles sale, and others. The truck platooning market to score big in Europe owing to its better compliance with safety and environment-friendly laws. However, the natural growth can be daunted by regulatory frameworks and road infrastructure during the forecast period.

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. Platooning can play a vital role in reducing driving efforts and automate the process entirely. Increasing demand from the transportation and logistics sector is expected to increase market demand till 2023. Moreover, initiatives by governments for introducing policies which support platooning are predicted to work in favor of the market. Lack of proper roads and stringent regulations can pose a challenge to market growth. But the integration of these systems with the internet of things (IoT) to enhance its security and performance can augur well for the truck platooning market.

Truck Platooning Market: Market Segmentation:

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 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. 

Table Of Content

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

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

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Truck Platooning Market, By Component

5.1 Introduction

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

Continued...

List of Tables:

Table 1 Global Truck Platooning Market: By Region, 2018–2023

Table 2 North America Truck Platooning Market: By Country, 2018–2023

Table 3 Europe Truck Platooning Market: By Country, 2018–2023

Table 4 Asia-Pacific Truck Platooning Market: By Country, 2018–2023

Table 5 RoW Truck Platooning Market: By Country, 2018–2023

Table 6 Global Truck Platooning Market, By Component, By Regions, 2018–2023

Table 7 North America Truck Platooning Market, By Component, By Country, 2018–2023

Continued…

List of Figures:

FIGURE 1 Research Process Of MRFR

FIGURE 2 Top Down & Bottom Up Approach

FIGURE 3 Market Dynamics

FIGURE 4 Impact Analysis: Market Drivers

FIGURE 5 Impact Analysis: Market Restraints

FIGURE 6 Porter’s Five Forces Analysis

FIGURE 7 Value Chain Analysis

FIGURE 8 Global Truck Platooning Market SHARE, By Component, 2016 (%)

FIGURE 9 Global Truck Platooning Market, By Component, 2015-2023 (USD MILLION)

FIGURE 10 Global Truck Platooning Market SHARE, By Technology, 2016 (%)

Continued…

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