Global Truck Platooning System Market 2016-2020

This market research report presents a detailed segmentation of the global truck platooning system market by the key areas and includes geographies like the Americas, APAC, and EMEA. Some of the leading vendors analyzed in this market are Peloton Technology, Volvo, Scania, and Daimler.

Overview of the truck platooning system market

The concept of truck platooning is perceived as the future of the transportation industry. In a truck platoon, multiple trucks travel at an aerodynamically efficient distance and drive cooperatively by maintaining the distance. A truck platoon is similar to a train’s compartment-like arrangement but with physical disconnects. With EU holding a clear vision for truck platooning by 2025, this market is anticipated to have a positive outlook in the coming years. Moreover, the Infrastructure and Environment Ministry of EU affirmed plans to harmonize rules to facilitate large-scale, cross-border transportation through truck platooning. Additionally, several states in the US such as Texas, Florida, and California are processing relevant legislation and are also getting ready for pilot testing, which will propel the growth prospects for this market during the predicted period. Extensive research carried out by the market research analysts at Technavio has shown that the global truck platooning system market will witness tremendous growth and will post an impressive CAGR of more than 18% over the forecast period.

One of the upcoming trends spurring this market’s growth is the emergence of newer businesses as a result of truck platooning. If truck platoons are permitted to operate exclusively on truck-only highways, it is likely to lead to an integrated business model between the infrastructure service provider and transportation service provider. It may also result in several public-private partnerships for financing the concept of truck platooning. The market for truck platooning is anticipated to pave opportunities for several new businesses including road construction business, transportation and logistics service providers, and ICT providers because of the potential business opportunity arising from connected technology offerings and the need for wireless communication technologies. Furthermore, several taxi platoons or several cars traversing the same route can enter the platoon mode for a more relaxed driving experience and, thus, leverage the benefits that stem from platooning. The advent of new businesses is expected to steer this market’s growth over the next four years.

Geographical segmentation and analysis of the truck platooning market

• Americas
• APAC
• EMEA

In terms of geography, EMEA led the global truck platooning market and accounted for nearly 48% of the market share during 2015. The EU market is a mature automotive market and holds high potential for the truck platooning system market. The region is well placed in terms of smart mobility and developed ICT infrastructure and with the implementation of favorable regulatory mandates, this market is expected to witness promising growth in the region over the forecast period.

Competitive landscape and key vendors

The global truck platooning market is still in its nascent stage and is far from reaching its market potential. Although this market is relatively new and upcoming, platooning technologies are anticipated to become an inherent part of every future truck engineered with standardized connected vehicle service offerings. 

 Key vendors in this market are -

• Peloton Technology
• Volvo
• Scania
• Daimler

Other prominent vendors analyzed in this report are TomTom, Navistar, Meritor Wabco, PACCAR, Hino, Delphi, Continental, MAN Truck & Bus, and IVECO.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global truck platooning market?
• What are the key market trends impacting the growth of the global truck platooning market?
• What are the challenges to market growth?
• Who are the key vendors in global truck platooning market?
• What are the market opportunities and threats faced by the vendors in the global truck platooning market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of global truck platooning market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Pickup Truck Market in the US 2015-2019
• Global Industrial Truck Market 2015-2019
• Heavy Duty Trucks Market in Europe 2015-2019
• Logistics Market in Europe 2015-2019

Truck platooning as a concept is fairly new and is part of a suite of features that self-driving trucks might employ in the near future. A platoon is a group of vehicles that can safely travel closely together at high speeds. In a platoon, a lead vehicle controls the speed and direction, and all subsequent vehicles, which have precisely coordinated braking and acceleration, respond to the lead vehicle’s movement. Since platooning helps to decrease the distance between cars or trucks by utilizing electronic or mechanical coupling, vehicles can accelerate or brake simultaneously; thus, eliminating the reacting distance needed for human reaction

The report, global truck platooning system market, is part of Technavio’s automotive research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as auto accessories, automotive components, automotive electronics, automotive manufacturing, automotive services, powertrain, and wheels and tires. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.