About Truck Platooning Systems
Trucks are the major type of vehicle adopting the platooning system. Platooning is a method where a group of two or more vehicles travels behind one another safely to experience less fuel consumption, reduced air drag, optimal use of road space thereby avoiding traffic congestion. There has been 4-5% fuel consumption shown by the leading truck using this method. Truck platooning is recognized as the future of the transportation industry. Platoon is similar to the train’s compartment arrangement but with physical disconnects. If truck platoons are permitted to operate on truck-only highways, it is expected to lead to an integrated business model between the infrastructure service provider and transportation service provider and may also result in several public-private partnerships for financing the concept of truck platooning.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The market is fragmented by numerous players and the market is still at its nascent stage and is far from reaching its potential target. Although the market is comparatively new and is projected to an inherent part of future truck engineered with connected vehicle service offerings.The Manufacturers having a strong hold in the market are Meritor WEBCO. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Truck Platooning Systems market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Peloton Technology (United States), Volvo Group (Sweden), Scania (Sweden), Daimler (Germany), Navistar (United States), Toyota (Japan), Uber (United States), Bendix Commercial Vehicle Systems (United States), Continental AG (Germany) and IVECO (Italy) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are TomTom (Netherlands), MAN Truck and Bus, NVIDIA (United States), Bosch (Germany) and Meritor WEBCO (United States).
Segmentation Overview
AMA Research has segmented the market of Global Truck Platooning Systems market by Type (Autonomous and DATP (Driver-Assistive Tuck Platooning)), Application (Heavy Trucks, Light Trucks and Other) and Region.
On the basis of geography, the market of Truck Platooning Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2024. If we see Market by Services, the sub-segment i.e. Telematics will boost the Truck Platooning Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Systems, the sub-segment i.e. Adaptive Cruise Control (ACC) will boost the Truck Platooning Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sensor, the sub-segment i.e. Lidar will boost the Truck Platooning Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Anticipated changes in the truck platoon business models. and The emergence of new businesses due to this market.
Market Growth Drivers:
Interoperability of truck platooning method and platforms integrating connected technologies., Rising adoption of advanced driver assistance system (ADAS) features and significant platooning system., Advancement in technology and stringent vehicle norms in emerging economies. and Reducing CO2 emission and reduction in fuel consumption.
Challenges:
Undefined safety parameters. and Increasing user and public acceptance and concerns over Data privacy and cybersecurity regulations.
Restraints:
High cost of hardware technologies such as Adaptive cruise control (ACC), Blind-spot warming (BSW), Forward collision warning (FCW) which increases the overall cost of vehicles. and Lack of Infrastructure in the transport system in many countries.
Opportunities:
Road construction business, transportation, and logistics service providers and ICT providers offering business opportunities in this market.
Market Leaders and their expansionary development strategies
As of 2017, the UK government announced to invest millions in semi-autonomous truck platoons trials on the country roadways in 2018. and In June 2018, Volvo Trucks, North America announced the successful demonstration of on-highway truck platooning in North Carolina.
Key Target Audience
Automotive electronic component suppliers, Automotive OEMs, Autonomous platform providers, Autonomous vehicle manufacturers, Technology providers, Automobile industry as an end-user industry and regional automobile associations, Traders, distributors, and suppliers of materials used for truck platooning systems, Truck platooning service providers, Truck platooning component manufacturers, Truck platooning system suppliers and Research institutes and government organizations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.