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Truck Platooning Market by Type, Systems, Sensor, Services, Region - Global Forecast to 2030

Truck Platooning Market: Global Forecast until 2030

  • August 2018
  • 163 pages
  • ID: 5483359
In this report:
DATP segment is estimated to be the largest market, by volume, and is expected to grow from a projected ## units in 2021 to ##,## units by 2030, at a CAGR of ##.##% during the forecast period.
DATP segment is expected to be the largest market, by volume, and is expected to grow from a projected ## units in 2023 to ## units by 2030, at a CAGR of ##.##%, during the forecast period.

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The growing number of road accidents due to driver error and growing focus on reducing transportation operating cost will fuel the industry demand for the truck platooning market

The truck platooning market is estimated to rise at a compound annual growth rate of ~61.0 percent during the forecast period, and the market value is forecasted to grow from $37.60M in 2021 to $2728.70M by 2030. The development of autonomous and semi-autonomous trucks and industry-wide standards to implement safety features including the adaptive cruise control, forward collision warning, lane keep assist, and other advanced driver assistance systems features would drive the rise of the truck platooning market. At the same time, the high cost of hardware and technologies and lack of infrastructure development can be main obstacles for the increase ot the truck platooning market.

The sector for driver assistive truck platooning is expected to hold the biggest share in the truck platooning market

The rising adoption of advanced driver assistance system features and significant platooning testing are driving the industry for DATP.DATP benefits drivers detect and make sufficient space for any vehicle that comes in between the platooning trucks with the help of state-of-the-art safety technology.

According to industry experts, truck platooning will help to reduce operating cost by 5.0 percent to 10.0 percent per truck.The reduction in operating cost would encourage fleet management firms to invest in DATP.

On top of, the significant platooning testing and rised funding from the government would play a main role in the development of DATP.

In June 2018, Volvo Trucks North America announced the successful demonstration of on-highway truck platooning in North Carolina.The company has been working closely with FedEx and the North Carolina Turnpike Authority to extend on-highway operations of Volvo's Cooperative Adaptive Cruise Control.

In September 2017, Daimler Trucks North America announced the testing of truck platooning operations on public highways of Oregon and Nevada in the US.The cost of the DATP systems is estimated to decrease in the near future owing to advancements and commercialization of this technology.

Reduced cost will make DATP more profitable and, therefrom, would growth the market adoption of the technology.

EU: The fastest growing area in the truck platooning market

Europe (EU) is forecasted to be quickest increasing area in the truck platooning market.The main factors driving the rise of the European market contain pioneering efforts in truck platooning, technological improvements, and stringent vehicle safety norms in the area.

For example, in July 2017, Germany's Federal Ministry of Transport and Digital Infrastructure invested approximately $2.30M to support a truck platooning project by DB Schenker, MAN, and Hochschule. With the increasing adoption of truck platooning developments in the territory, the European truck platooning market is anticipated to witness considerable increase during the outlook period.

Key players' distribution profiles:

The market research includes industry insights specified by different market experts, ranging from Tier-I companies to truck platooning service providers. The breakdown of the primaries is like:

• By Company category: Tier-I-50%, Tier-II-30%, and OEMs-20%

• By Description: C level-65%, D level-25%, and Others*-10%

• By Area: Europe-55%, North America-30%, Asia Oceania-10%, and MEA-5%,

Note: Tier-I are hardware suppliers, Tier-II are service/solution providers

*Others contain researchers, consultants, and sales managers/marketing managers.

Company tiers are based on the value chain; revenue of the company has not been considered.

Segment Research

The industry report offers a picture of the truck platooning market across several verticals and localities.It aims at evaluating the market value and future increase potential of the truck platooning market, by platooning type, systems, sensor type, services, and area.

Moreover, the study also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, opposing landscape, latest developments, and key industries strategies.

Why Purchasing This Study Can Help You:

The analysis offers business insights into the following parts:

• business entry: The market research offers Exhaustive information on truck platooning technologies provided by the top actors in the sector.

• Market Development: The industry report offers highlighted information on several truck platooning technology trends. The study examines the industries for different truck platooning technologies across the countries.

• industry diversification: The analysis offers complete information about emerging technologies, recent evolutions, and market investments in the overall truck platooning market.

• Competitive Landscape: The market research affords an detailed assessment of recent developments of the supply chain actors which include Original equipment manufacturers, software/solution providers, Tier-1 firms, and startups.

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