Truck Platooning Market 2027| Platon technology, Daimler, Volvo, Scania, TomTom, Wabco, Meritor, Uber ATG, Continental AG, and DAF Trucks NV

Recent research and the current scenario as well as future market potential of "Global Truck Platooning Market - 2019-2026".

The Global Truck Platooning Market is expected to grow at a high CAGR during the forecasting period.

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Truck platooning is the linking of two or more trucks in the convey using a vehicle to vehicle technology and automated driving support systems. These trucks automatically maintain the distance between each other when they are connected for certain part of the journey. The truck at the head of platoon acts as a leader and vehicles behind it reacts and adapts changes in the movement according to the leader. Reducing the space between vehicles reduces the aerodynamic drag experienced by all vehicles in the platoon, and consistent speed reduces the frequency of acceleration and deceleration thereby reducing fuel consumption and Co2 emission. The platooning technology has the ability to decrease the CO2 emissions by 16% from the trailing vehicles and 8% from the lead vehicles.

These technologies help in improving the safety, since the braking is immediate and automatic, and the truck following the lead vehicle only need 1/5th of the time to react. Platooning optimizes the transportation industry by using more road effectively and delivering goods faster by reducing traffic jams.

The global truck platooning market was worth $XX billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period.

Market Drivers:

Increase in adoption of these technologies by the transport and logistics agencies in the developed nations such as the United States and Europe, a rapid decrease in fuel consumption by the trailing vehicles and driver fatigue are the dominant factors driving the global truck platooning market during the forecast period.

According to the review conducted by Transport Canada in May 2018, various tests and demonstration conducted during the study on platooning indicated that the fuel saving varied between 4.5% and 21%.

In August 2017, UK Department of Transport estimated that by 2020 there would be 1% adoption rate for truck platooning, with commercial availability of SAE level 2 "partial automation." By 2025, the industry will reach SAE level 4 with full automation and 50% adoption rate of truck platooning in the logistics sector.

According to a White paper published in Truck platooning technology in July 2017, it is estimated that driver productivity is expected to increase by 30% for the long-haul trucking service through truck platooning in European Highways.

According to the Europe Truck Platooning in 2017, the average profit increase from EUR13,200 in 2-driver scenario to EUR32,300 profit in the 1-driver scenario. The increase in profit from the system associated with suitable regulatory approvals is additionally contributing to the growth of the global truck platooning market during the forecast period.

Restraint:

Major factors are hindering the global truck platooning market during the forecast period due to the presence of high cost associated with equipment and limited availability of trained professionals.

Market Segmentation

Global truck platooning market is segmented by technology type and systems. By technology type includes driver assist truck platooning and autonomous technology, and by systems segment includes global positioning systems, blind spot detection, adaptive cruise control, automated lane keeping, automatic braking, and others (forward collision warning, eco-driving systems).

Driver assist truck platooning (DATP) dominate the global truck platooning market due to an increase in adoption of these technologies by logistics partners in the developing nations, and the wide presence of these products in the market. DATP is vehicle automation and safety technology that integrates sensor array, wireless vehicle-to-vehicle communications, active safety systems, and specialized software to link safety systems and synchronize acceleration and braking between two vehicles.

Global Truck Platooning Market - Geographical Analysis

The global truck platooning market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

North America dominates the global truck platooning market during the forecast period due to presence of suitable infrastructure for the mobility of autonomous vehicles and Driver assist truck platooning, and recent regulatory approvals for the truck platooning across the region in different states. Increase in demand for the faster movement of goods across the region and the presence of suitable logistics partners is additionally contributing to the growth of the North America truck platooning market during the forecast period.

In August 2018, a total of nine U.S jurisdictions have authorized automated vehicle platooning it includes Alabama, Indiana, Kentucky, Louisiana, Mississippi, Nevada, Oregon, Utah, and Wisconsin.

According to the data published in the American Trucking Association in 2017, the trucking revenue was recorded as $672 billion in 2016 with a movement of 10 million tons of freight over the freight. Presence of logistics market demand associated with an increase in the adoption of advanced technologies by logistics players for business development through cost reduction in fuel and drivers is driving the regional market.

Europe truck platooning market is expected to grow at a higher pace during the forecast period owing to increase in funding from government and non-government institutions for the trails and development of novel technologies and wide presence of logistics industry.

In August 2017, the UK government announced $9.04 million funding to UK Transport Research Laboratory for initiating truck platooning trails by the end of 2018.

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Global Truck Platooning Market - Competitive Analysis

The key strategies adopted by the dominant players in global truck platooning includes merger and strategic collaboration between the technology providers and OEM manufacturers for the development of advanced fleet management solutions and investment in startups for the R&D of automotive truck for future generations.

In January 2019, Daimler invested $557.8 million over the next few years for the development of highly automated vehicles as part of truck platooning development.

In February 2017, Omnitracs LLC a global pioneer of fleet management solutions to transportation and logistics companies partnered with peloton technologies for the development of combined fleet management solutions.

In March 2018, Scania and Finnish company Ahola Transport made a strategic collaboration for the implementation of new transport technologies ( semi-autonomous truck platooning) on Nordic Roads.

Major market players in the Truck Platooning market are Platon technology, Daimler, Volvo, Scania, TomTom, Wabco, Meritor, Uber ATG, Continental AG, and DAF Trucks NV.

Target Audience:
Equipment Suppliers/ Buyers
Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturers

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