Truck Platooning Market Size, Share and Segmentation by Platooning Type (Driver-assistive Truck Platooning (DATP), Autonomous Truck Platooning), by System Type (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), Others), by Components (Sensors, RADAR, LIDAR, Camera, GPS), by Regions and Global Market Forecast 2023-2030
Report Id: SNS/AUTO/2254 | July 2022 | Region: Global | 126 Pages
Report Scope & Overview:
Truck Platooning Market Size was valued at USD 63.49 million in 2022 and is expected to reach USD 2866 million by 2030 and grow at a CAGR of 61% over the forecast period 2023-2030.
Truck platooning is when two or more trucks are linked together in a convoy using automated driving assistance systems and ways for the trucks to talk to each other. Truck platooning is when two or more trucks travel together for part of the way. During this time, they stay close to each other. The vehicle at the front of the platoon acts as the leader, and the vehicle behind it reacts and changes how the front vehicle moves. The driver of each of the following trucks is always in charge and can leave at any time or drive alone. The idea of truck platooning has a lot of potentials to make transportation on the road safer, cleaner, and more efficient in the future. Truck platooning technology can reduce the amount of fuel used and the number of harmful gases released, but only if the trucks are close enough to each other so that there is less air resistance between them.
In 2021, Continental made the MFC 500 camera platform, which is made up of separate parts that can be added to and linked together. The modular kit is made up of an intelligent MFC 500 camera, several satellite cameras, and a central computer for helping or automating driving. This computer is called the Assisted & Automated Driving Control Unit, or ADCU. Through V2V and V2I communications, the camera platform can also have functions for detecting the environment and driving.
MARKET DYNAMICS:
KEY DRIVERS:
-
A further driver of this region's demand is the rapid growth of technology.
-
A rise in environmental concerns and safety standards.
-
Well-established technology infrastructure that fuels market demand.
-
The rise in the number of people with more money to spend.
RESTRAINTS:
-
Another factor limiting market expansion in these locations is the low per capita income.
-
Low infrastructure has resulted in a lower market share.
-
The high cost of technology is likely to operate as a limitation on market expansion.
OPPORTUNITIES:
-
Government initiatives are rising as well, which opens up new possibilities for development in this area.
-
Self-driving trucks will lower shipping costs and boost road safety by reducing accidents.
CHALLENGES:
-
Acceptance by carriers, drivers, and other road users is a fundamental challenge in truck platooning.
-
Concern around the privacy of data and the legislation surrounding cyber security.
IMPACT OF COVID-19:
Since the epidemic has become a part of people's lives, they've had to deal with a variety of problems that have harmed their livelihoods and the environment around them. As a result of the lockdown put in place to combat the epidemic, trucking, and transportation operations have seen a reduction in employee sloth, attention deficit disorder, and general job seriousness. As a result of the lack of work, the market has suffered enormous losses and functional problems, which prevents them from making the best use of technological advancements. In the meantime, governments are stepping in to enforce their own regulations. Market operations investments are intended to combine existing data with the improved features brought in by IoT sensors, maintenance logs, and external sources to improve the market and lead the way to growth during the forecast period that ends in 2028.
KEY MARKET PLAYERS:
Continental AG, AB Volvo, Bendix Commercial Vehicles Systems LLC, Meritor Wabco, Daimler AG, Delphi Automotive PLC, Navistar International Corporation, OTTO Technologies, Peloton Technology, and Scania AB are some of the affluent competitors with significant market share in the Truck Platooning Market.
MARKET ESTIMATION:
Market, By Platooning Type:
The global market has been divided into Driver-assistive Truck Platooning (DATP), and Autonomous Truck Platooning Based on the platooning type segment. Market share is predicted to be dominated by the DATP (Driver-Assistive Truck Platooning) category Cooperative adaptive cruise control for large vehicles is known as DATP (two-truck platoons). The peak fuel savings of two truck platoons can be increased by 7-10% using its applications.
Market, By System Type:
The global market has been divided into Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), and Lane Keep Assist (LKA), and Others Based on the system type segment. It is anticipated that Adaptive Cruise Control would have the most significant CAGR in the period that is prophesied since this technology helps to automate the speed at which trucks travel with the assistance of V2V communication.
Market, By Components:
The global market has been divided into Sensors, RADAR, LIDAR, Cameras, and GPS based on the components segment. Truck platooning makes extensive use of these sensors. Truck platooning relies heavily on object recognition, which is why image sensors are becoming increasingly prevalent.
MARKET SEGMENTATION:
By Platooning Type:
-
Driver-assistive Truck Platooning (DATP)
-
Autonomous Truck Platooning
By System Type:
-
Adaptive Cruise Control (ACC)
-
Blind Spot Warning (BSW)
-
Global Positioning System (GPS)
-
Forward Collision Warning (FCW)
-
Lane Keep Assist (LKA)
-
Others
By Components:
-
Sensors
-
RADAR
-
LIDAR
-
Camera
-
GPS
.jpg)
REGIONAL ANALYSIS:
The truck platooning technology market has been segmented by geography, with North America, Asia-Pacific, Europe, Latin America, the Middle East, and Africa making up the majority of the total global market. As a result of nations like China and India, which have enormous populations and drive-up demand for goods, the Asia-Pacific region has the highest proportion of the worldwide market. The European area holds the second-largest market share in the global market. As a result of countries including the United States, Canada, and Mexico, the North American region holds the third-largest market share in the global market. Low infrastructure in these regions has resulted in a lower market share for the Latin American and Middle Eastern and African regions.
REGIONAL COVERAGE:
-
North America
-
The USA
-
Canada
-
Mexico
-
-
Europe
-
Germany
-
The UK
-
France
-
Italy
-
Spain
-
The Netherlands
-
Rest of Europe
-
-
Asia-Pacific
-
Japan
-
south Korea
-
China
-
India
-
Australia
-
Rest of Asia-Pacific
-
-
The Middle East & Africa
-
Israel
-
UAE
-
South Africa
-
Rest of Middle East & Africa
-
-
Latin America
-
Brazil
-
Argentina
-
Rest of Latin America
-
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 63.49 Million |
| Market Size by 2030 | US$ 2566 Million |
| CAGR | CAGR of 61% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Platooning Type (Driver-assistive Truck Platooning (DATP), Autonomous Truck Platooning) • by System Type (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), Others) • by Components (Sensors, RADAR, LIDAR, Camera, GPS) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Continental AG, AB Volvo, Bendix Commercial Vehicles Systems LLC, Meritor Wabco, Daimler AG, Delphi Automotive PLC, Navistar International Corporation, OTTO Technologies, Peloton Technology, and Scania AB |
| Key Drivers | •A further driver of this region's demand is the rapid growth of technology. •A rise in environmental concerns and safety standards. |
| RESTRAINTS | •Another factor limiting market expansion in these locations is the low per capita income. •Low infrastructure has resulted in a lower market share. |
Frequently Asked Questions (FAQ) :
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Truck Platooning Market Segmentation, By Platooning Type
8.1 Driver-assistive Truck Platooning (DATP)
8.2 Autonomous Truck Platooning
9. Global Truck Platooning Market Segmentation, By System Type
9.1 Adaptive Cruise Control (ACC)
9.2 Blind Spot Warning (BSW)
9.3 Global Positioning System (GPS)
9.4 Forward Collision Warning (FCW)
9.5 Lane Keep Assist (LKA)
9.6 Others
10. Global Truck Platooning Market Segmentation, By Components
10.1 Sensors
10.2 RADAR
10.3 LIDAR
10.4 Camera
10.5 GPS
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 AB Volvo
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Continental AG
12.3 Bendix Commercial Vehicles Systems LLC
12.4 Meritor Wabco
12.5 Daimler AG
12.6 Delphi Automotive PLC
12.7 Navistar International Corporation
12.8 OTTO Technologies
12.9 Peloton Technology
12.10 Scania AB
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of the good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploaded on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
