Truck Platooning Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Truck platooning can be defined as linking of two or more trucks in convoy using automated driving assistance systems and connectivity solutions between the vehicles. The vehicles in truck platooning maintain a close distance between them when they are connected for certain part of the journey on roadways. The vehicle at the head of the platoon acts as the leader, and the vehicle behind the leader reacts and adapts to the movement of the leading vehicle. The driver in the following trucks are always in control and can leave or drive independently at any point of time. The concept of truck platooning holds a great potential to make the road transport efficient, cleaner, and safer in the coming future. Truck platooning technology can reduce the consumption of fuel and the emission of harmful gases, provided the trucks are operating closer, which in turn reduces the air drag between them.

MARKET SCOPE

The "Global Truck platooning market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of truck platooning market with detailed market segmentation by system, type, vehicle type, and geography. The report provides key statistics on the market status of the leading truck platooning market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   The global truck platooning market is segmented on the basis of system, type, and vehicle type.
  
•   Based on system, the market is classified into adaptive cruise control (ACC), blind spot warning (BSW), global positioning system (GPS), forward collision warning (FCW), lane keep assist (LKA), and others.
  
•   Based on platooning type, the market is bifurcated into driver-assistive tuck platooning (DATP), and autonomous truck platooning. Communication technology is further segmented as vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and vehicle-to-everything (V2X).
  
•   On the basis of the vehicle type, the market is segmented as light commercial vehicle, and heavy commercial vehicle.
  

MARKET DYNAMICS

Drivers:

•   Rise in government rules for emission reduction from transport sector.
  
•   Reduction in Fuel consumption
  

Restraints:

•   High cost of platooning technology.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The truck platooning market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the truck platooning market in these regions.

IMPACT OF COVID-19 ON TRUCK PLATOONING MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the truck platooning market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Truck platooning market market are anticipated to lucrative growth opportunities in the future with the rising demand for Truck platooning market in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the truck platooning market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Bendix
  
•   AB Volvo
  
•   Continental AG
  
•   Daimler AG
  
•   Delphi Technologies
  
•   Wabco
  
•   Navistar, Inc.
  
•   DAF Trucks
  
•   Peloton Technology
  
•   Scania AB
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Truck Platooning Report Scope