According to the report by Expert Market Research (EMR), the global truck platooning market size is projected to grow at a CAGR of 60.50% between 2024 and 2032. Aided by the advancements in autonomous driving technologies and the increasing focus on fuel efficiency and safety in transportation, the market is expected to grow significantly by 2032.
Truck platooning refers to the practice of linking two or more trucks in a convoy, using connectivity technology and automated driving support systems. These vehicles maintain a set, close distance between each other, leveraging aerodynamics to reduce air drag and enhance fuel efficiency. The technology is seen as a key innovation in the realm of freight transportation, offering economic and environmental benefits.
One of the primary drivers of the truck platooning market growth is the increased emphasis on reducing fuel consumption and carbon emissions in the transportation sector. Platooning, by optimizing fuel usage, responds effectively to these environmental concerns. Additionally, advancements in vehicle-to-vehicle (V2V) communication and automated driving technologies have made platooning more feasible and safer.
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The truck platooning market demand is also being driven by the growing need for efficient logistics and transportation solutions. As global trade and e-commerce activities expand, there is a rising demand for innovative solutions to optimise freight transportation, making truck platooning an attractive option. The market’s growth is further supported by the increasing investments in intelligent transportation systems (ITS) and the development of smart highways, which are crucial for the implementation of truck platooning.
As per the truck platooning market analysis, government initiatives and regulatory support in various countries are fostering the development and adoption of truck platooning technologies. Regulatory bodies are increasingly recognising the potential of platooning in enhancing road safety and reducing traffic congestion. The development and implementation of supportive regulatory frameworks and the resolution of technical challenges will be key to realising the full potential of this innovative market.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Europe is leading the truck platooning market, with extensive research and trials conducted in the region, along with supportive regulatory frameworks. North America, particularly the United States, is also a significant market due to the presence of major technology and automotive players investing in platooning technologies.
Truck Platooning Market Segmentation
The market can be divided based on technology, platooning type, communication technology, and region.
Market 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
Market Breakup by Platooning Type
- Driver Assistive Truck Platooning (DATP)
- Autonomous Truck Platooning
Market Breakup by Communication Technology
- Vehicle-to-Infrastructure (V2I)
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Everything (V2X)
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Truck Platooning Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global truck platooning market. Some of the major players explored in the report by Expert Market Research are as follows:
- Scania CV AB
- Continental AG
- Daimler AG
- Peloton Technology, Inc.
- Knorr-Bremse AG
- Others
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