Truck Platooning Market 2022-2028

Description

List of Tables

Title:Global Truck Platooning Market Size, Share & Trends Analysis Report by Technology Type (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), by Autonomous Level (Semi-Autonomous, and Full-Autonomous), and by Communication Technology (Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), and Global Positioning System (GPS)) Forecast Period (2022-2028).

The global truck platooning market is anticipated to grow at an exponential CAGR of 28.9% during the forecast period. Road security and safety are the major concerns for transport service providers and authorities. Most road accidents arise owing to the driver being either unfocused or distracted due to drowsiness. As per European Truck Platooning Challenge, more than 90% times human errors are responsible for traffic accidents. The World Health Organization's (WHO) Third Global Status Report on Road Safety 2018 estimated that more than 1.35 million road traffic deaths occur globally each year. The factor that the drivers are at work more than the prescribed duration of driving, results in the loss of attention and causes accidents. As per the European Union drivers' working hour regulations, the daily driving schedule should not exceed nine hours, and the rest period shall be eleven hours, daily. Such incidents can be reduced by adopting a platooning system that can offer drivers to rest enough for driving with full attention.

The global truck platooning market is segmented based on the technology type, autonomous level, and communication technology. Based on the technology type, the market is segmented into adaptive cruise control (ACC), blind-spot warning (BSW), a global positioning system (GPS), forward collision warning (FCW), lane-keep assist (LKA), and others. Based on the autonomous level, the market is sub-segmented into the semi-autonomous, and full-autonomous. Based on the communication technology, the market is sub-segmented into the vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and global positioning system (GPS). The above-mentioned segments can be customized as per the requirements. Based on the autonomous level, the semi-autonomous segment is anticipated to hold a prominent share in the market during the forecast period owing to the flexibility of the semi-autonomous system as it just assists and supports the driver while driving which can be controlled by the driver as the situation goes abnormal, while fully-autonomous is a lot expansive, and will run much stiffly in the traffic as sensors will calculate a lot of possibilities.

Geographically market is segmented into: North America, Europe, Asia Pacific, and the Rest of the World. North America is anticipated to hold a prominent share in the market during the forecast period owing to the large investments in activities such as truck platoons, which primarily started with efforts from automotive giants, such as Volvo, Daimler AG, and other companies. The expansion of favorable regulatory policies in the US from the National Transportation Safety Board (NTSB) and National Highway Traffic Safety Administration (NHTSA) that feature safety, accountability, and compliance are the potential factors contributing to the market growth. This has increased the activeness of the region in such technologies. For instance, in April 2022, the U.S. Department of Transportation published a research project about the use of CACC to improve truck platooning.

The major companies serving the global truck platooning market include Mercedes-Benz Group AG, PACCAR Holding B.V. (DAF), Peloton Technology, Scania CV AB, Volvo Group, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2020, TRATON SE acquired the remaining 83.2% stake in Navistar International Corp. the company spent total cash consideration of $3.7 billion for expanding its product portfolio. The acquisition is possibly focused on the establishment and development of trucks in the market for commercial applications.

Research Methodology

The market study of the global truck platooning market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

Financial reports of companies involved in the market.

Whitepapers, research papers, and news blogs.

Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

Global Truck Platooning Market Research and Analysis by Technology Type
Global Truck Platooning Market Research and Analysis by Autonomous Level
Global Truck Platooning Market Research and Analysis by Communication Technology

The Report Covers:

Comprehensive research methodology of the global truck platooning market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global truck platooning market.
Insights about market determinants that are stimulating the global truck platooning market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.

Product Code: OMR2026847

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Recovery Scenario of Global Truck Platooning Market
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. BY Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
- 3.1.1. Mercedes-Benz Group AG
  - 3.1.1.1. Overview
  - 3.1.1.2. Financial Analysis
  - 3.1.1.3. SWOT Analysis
  - 3.1.1.4. Recent Developments
- 3.1.2. PACCAR Holding B.V. (DAF)
  - 3.1.2.1. Overview
  - 3.1.2.2. Financial Analysis
  - 3.1.2.3. SWOT Analysis
  - 3.1.2.4. Recent Developments
- 3.1.3. Peloton Technology
  - 3.1.3.1. Overview
  - 3.1.3.2. Financial Analysis
  - 3.1.3.3. SWOT Analysis
  - 3.1.3.4. Recent Developments
- 3.1.4. Scania CV AB
  - 3.1.4.1. Overview
  - 3.1.4.2. Financial Analysis
  - 3.1.4.3. SWOT Analysis
  - 3.1.4.4. Recent Developments
- 3.1.5. Volvo Group
  - 3.1.5.1. Overview
  - 3.1.5.2. Financial Analysis
  - 3.1.5.3. SWOT Analysis
  - 3.1.5.4. Recent Developments
3.2. Key Strategy Analysis

4. Market Segmentation

4.1. Global Truck Platooning Market by Technology Type
- 4.1.1. Adaptive Cruise Control (ACC)
- 4.1.2. Blind Spot Warning (BSW)
- 4.1.3. Global Positioning System (GPS)
- 4.1.4. Forward Collision Warning (FCW)
- 4.1.5. Lane Keep Assist (LKA)
- 4.1.6. Others (Active Brake Assist (ABA))
4.2. Global Truck Platooning Market by Autonomous Level
- 4.2.1. Semi-Autonomous
- 4.2.2. Full-Autonomous
4.3. Global Truck Platooning Market by Communication Technology
- 4.3.1. Vehicle-to-Vehicle (V2V)
- 4.3.2. Vehicle-to-Infrastructure (V2I)
- 4.3.3. Global Positioning System (GPS)

5. Regional Analysis

5.1. North America
- 5.1.1. US
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. Continental AG
6.2. Delphi Powertrain Systems Operations Luxembourg S. a r.l.
6.3. Knorr-Bremse AG
6.4. Navistar, Inc.
6.5. NVIDIA
6.6. Robert Bosch GmbH
6.7. ZF Friedrichshafen AG