Truck Platooning Global Market Is Expected To Grow At A Rate Of Mre Than 30% Through 2023 – 2027
6 Jul, 2023
The global truck platooning market size is expected to grow from $1.59 billion in 2022 to $2.09 billion in 2023 at a compound annual growth rate (CAGR) of 31.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global truck platooning market size is expected to reach $6.09 billion in 2027 at a CAGR of 30.6%.
Global Truck Platooning Market Key Driver
The growing sales of commercial vehicles are expected to propel the growth of truck platooning going forward. A commercial vehicle is one that transports persons or things for commercial purposes. As the number of commercial vehicles increases, so will the demand for platooning technologies, which will provide benefits such as better efficiency, reduced loss, and higher fuel economy. Trucks are commercial vehicles, and as the number of trucks increases, so does the need for improved operations or road safety, creating a demand for platooning.
Get a sample of the global truck platooning market reportGlobal Truck Platooning Market Segments
The global truck platooning market is segmented:
1) By Services: Telematic Based Services, Automatic Crash Notification, Emergency Calling, Navigation And Infotainment, On Road Assistance, Remote Diagnostics, Vehicle Tracking, Other Services
2) By Component: Forward Looking Camera, System Display With Rear Time Camera, RADAR Base Collision Mitigation, LiDAR
3) By Platooning Type: Driver-Assistive Tuck Platooning (DATP), Autonomous Truck Platooning
4) By Communication Technology: Vehicle-To-Infrastructure (V2I), Vehicle-To-Vehicle (V2V), Vehicle-To-Everything (V2X)
5) By Autonomous Level: Semi-Autonomous, Full-Autonomous
6) By Geography: The regions covered in the truck platooning market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global truck platooning market.
Major Truck Platooning Industry Players
Daimler AG, Peloton Technology, Volvo Group, Continental AG, Navistar Inc., Scania AB, IVECO S.p.A, Hino Motors Ltd., Nvidia Corporation, Bendix Corporation, MAN Truck & Bus SE, DAF Trucks NV, Omnitracs LLC, Robert Bosch GmbH, ZF Friedrichshafen AG
Get the full global truck platooning market reportTruck Platooning Market Overview
Truck platooning is the merging of two or more vehicles in a platoon using autonomous driving support systems and networking technology. It enables trucks to follow one another closely, lowering air resistance and enhancing fuel efficiency.
Truck Platooning Global Market Report 2023 provides data on the global truck platooning market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The truck platooning market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.