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Truck Platooning Market: Industry Analysis, Trends, Production, Revenue, Growth And Forecast To 2032
Truck Platooning Market
The Business Research Company's Truck Platooning Global Market Report 2023 identifies growing sales of commercial vehicles as the major driver for the Truck Platooning market's growth in the forecast period. A commercial vehicle is referred to as a vehicle that moves people or goods for business purposes. Increasing commercial vehicles will create demand for platooning technologies due to which they gain benefits such as increased efficiency, reduced loss, and improved fuel economy. Truck is part of commercial vehicles and as the trucks increase, their need for improving operations or road safety also increases which also creates demand for platooning.
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%.
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Major competitors in the Truck Platooning market are 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, and ZF Friedrichshafen AG
A key trend in the Truck Platooning market includes Rising demand for connected vehicles. A connected vehicle is a vehicle that communicates with the internet, road infrastructure, or other vehicles through a wireless network. Platooning is one of the most important applications for connected and automated cars, which coordinate the movement of two or more vehicles as a group and make road transportation safer, cleaner, and more efficient.
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The 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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Truck Platooning market.
The Business Research Company's "Global Truck Platooning Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Truck Platooning Market Include:
1. Executive Summary
2. Truck Platooning Market Characteristics
3. Truck Platooning Market Trends And Strategies
4. Truck Platooning Market - Macro Economic Scenario
5. Truck Platooning Market Size And Growth
.......
26. Africa Truck Platooning Market
27. Truck Platooning Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Truck Platooning Market
29. Truck Platooning Market Future Outlook and Potential Analysis
30. Appendix
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