Truck Platooning Market To Expand Rapidly as the stringent norms imposed by the government to curb the rising fuel emission and various initiative taken in favor of promoting autonomous vehicles is driving the growth of truck platooning market. Report segments Truck Platooning Market By Platooning Type (Driver-Assistive Truck Platooning (DATP), Autonomous Truck Platooning (ATP)), By System Type (Lane Keep Assist, Blind spot Warning, Adaptive Cruise Control, Human Machine Interface), By Component Type (Sensors, Radar, LIDAR, Camera, GPS) and Regional Forecast 2021-2028.
Some of the prominent manufacturers that are present in the Truck Platooning market include:
Peloton Technology, IVECO, Daimler AG, Otto Technologies, Navistar, Inc., AB VOLVO, Hino Motors, Ltd., Scania, Continental AG, and WABCO among others.
Global Truck Platooning Market Insights:
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The rise in the environmental pollution, increasing traffic problems, and the increasing demand for safer, cleaner and highly efficient vehicles is driving the growth of the truck platooning market across the globe. Also, the stringent norms imposed by the government to curb the rising fuel emission and various initiative taken in favour of promoting autonomous vehicles is driving the growth of truck platooning market. On the other hand, the high cost of platooning technology, rise in the privacy and security concerns and high risk of cyber threat is anticipated to hamper the growth of the truck platooning market.
Truck platooning can be defined as a convoy created through linking two or more trucks using connectivity technology and driving assistance system. The trucks during platooning maintain a set close distance between them when they are connected for a specific duration of the journey on the roadways or highways. The truck that is leading the platoon acts as a leader, and the trucks behind it reacts and adapts the movements of the leading vehicle. The drivers in the trailing trucks remains in control and can leave the convoy or drive independently at any time of the journey. The platooning can be either autonomous or driver assistive. The concept of truck platooning has a great prospective to make the road transportation safer, cleaner, and highly efficient in the coming years. This technology improves the fuel efficiency, provides greater traffic safety and also reduces air drag between them. Moreover, the increasing penetration of this technology is boosting the growth of various sectors such as logistics, road transportation, road infrastructures, and information technology.
The report offers informative insights into all the prevailing trends of the Truck Platooning market size. It shares a comprehensive summary of all the segments and regions. It provides statistical data on all the recent developments in the market. Truck Platooning market report is created after extensive research followed by all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. It is designed with an aim to provide a clear picture of the market size. Moreover, it also includes product launches, acquisitions, collaborations and partnerships, and innovations and industry developments.
Market Segments Analysis:
The platooning type is divided into driver-assistive truck platooning and autonomous truck platooning. The driver-assistive truck platooning (DATP) holds the largest share of the global truck platooning market and is estimated to maintain its leading position during the forecast period. DATP helps the drivers to detect and create sufficient space for any vehicle that comes in between the platooning trucks by assisting them with safety technologies. Developed economies such as United States, United Kingdom, Sweden, and Netherlands have adopted this technology and are expected to deploy DATP system on roads in the coming years. This technology helps n reducing the operational cost by 5 to 10%.
The system type is further segmented into lane keep assist, blind spot warning, adaptive cruise control, human machine interface, forward collision warning, automatic emergency braking and other technologically advanced systems. The adaptive cruise control (ACC) is the fastest growing segment and is expected to propel the growth of the truck platooning market in the forecast period. ACC is crucial system for the efficient operation of truck platooning. It helps the trucks to adjust the speed and maintain optimum distance between them by using the radio signals in the convoy.
The component type is bifurcated into sensor, radar, Lidar, camera, and GPS. The sensors are the widely used component in the truck platooning. The image sensors are used in various applications such as blind spot warning, forward collision warning, driver drowsiness, lane keep assist, and road sign detection systems. The image sensors are gaining high popularity as the object detection is the primary necessity for efficient operation of truck platooning.
Regional Market Overview:
The North America holds the maximum share of the global truck platooning market and is estimated to maintain its dominance over the forecast period. The transportation sector play a significant role in the logistical operations and the trucks are the primary necessities in the transport industry in this region. In June 2018, North Carolina Turnpike Authority, Volvo and FedEx together announced to demonstrate platooning of Volvo trucks on the highways of North Carolina. Moreover, the National Transportation Safety Board (NTSB) and from National Highway Traffic Safety Administration (NHTSA) have upgraded the regulatory policies that features greater accountability, enhanced safety and security that is ultimately contributing to the growth of the truck platooning market in this region.
The Truck Platooning Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
Key questions answered in the report:
- What will the market growth rate of the Truck Platooning market?
- What are the key factors motivating the Global Truck Platooning market?
- Who are the key companies in the Truck Platooning market space?
- What are the market opportunities, market risk and market overview of the Truck Platooning market?
- What are sales, revenue, and price analysis of top manufacturers of the Truck Platooning market?
- Who are the distributors, traders, and dealers of the Truck Platooning market?
- What are the Truck Platooning market opportunities and threats faced by the vendors in the Global Truck Platooning industries?
- What are sales, revenue, and price analysis by types and applications of the Truck Platooning market?
- What are sales, revenue, and price analysis by regions of Truck Platooning industries?
Study objectives of this report are:
- To analyze global Truck Platooning Schemes status, future forecast, growth opportunity, key market, and key players.
- To present the Emission Trading Schemes development in the United States, Europe, and China.
- To strategically profile the key players and comprehensively analyze their development plan and strategies.
- To define, describe and forecast the market by product type, market, and key regions.
Table of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1. Prevalence of Key Indications, 2017 (Key Countries)
4.2. Economic (Key Countries)
4.3. Key Mergers and Acquisitions
4.4. Pricing Analysis, Key Players, 2017
4.5. Overview: New Developments in Truck Platooning
- Global Truck Platooning Market Analysis, Insights and Forecast, 2014-2025
5.1. Key Findings / Summary
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