Truck Platooning market to surge at 11% CAGR and reach remarkable value by 2023, according to Global Truck Platooning Market Analysis Report published by Market Research Future. The future of the Truck Platooning market looks promising. Global Truck Platooning Industry Report analyzes Market for Truck Platooning by vehicle type, technology, component and region with forecast to 2023.
Major Truck Platooning Companies covered in the market report include Scania AB (Sweden), Daimler AG (Germany), Peloton Technology (US), AB Volvo (Sweden), Meritor Wabco (Auburn Hills), Navistar International Corporation (US), Continental AG (Germany), Bendix Commercial Vehicles Systems LLC (Ohio), OTTO Technologies (San Francisco), and Delphi Automotive PLC (Dublin).
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Global Market Highlights:
Platooning is extremely useful in automotive sector. It is used with the objective of enhancing fuel efficiency, decreasing pollution, and augmenting safety. Truck platooning caters to a range of trucks equipped with automated driving support systems and connectivity technology, one closely following the other. The platoon works fine with the first truck leading other vehicles behind the trucks transforming to the changes in the shifting of the first trucks. The trucks keep a close distance between each other, which curbs the fuel consumption, CO2 emissions, and air drag.
The vehicle manufacturers are creating novel technologies such as automated driving support systems to excel the multi brand platooning and platooning technology. The forces that are responsible for the development of truck platooning market are strict environment norms, the increasing sales of commercial vehicles, and innovation in platooning technologies. Platooning extends autonomous driving experience, which decreases driving efforts and the quantity of accidents as well as it enhances operational efficacy, which propels the market growth.
Platooning encourages road transport in a more effective, cleaner, and safer way, which boosts demand for platooning in the worldwide market. Truck platooning is estimated to develop the demand in verticals like transportation, road development, information technology, and logistics, because of the increasing need for automated technologies. The government of Europe has taken several initiates to allow cross-border, large-scale, transportation through truck platooning. Additionally, the European automakers have been working on enabling truck platooning with the aid of only front truck driver in the future.
On the other hand, the road infrastructure along with regulatory framework in Europe is likely to restrict the market growth. Market Research Future has conducted a comprehensive study on the global truck platooning market. The report published by Market Research Future states that the truck platooning market is estimated to expand at an approximate 11% CAGR by the conclusion of 2023.
Truck Platooning Market Segments Overview:
The global truck platooning market is segmented based on vehicle type, technology, and component. Based on vehicle type, the market is segmented into heavy commercial vehicle and light commercial vehicle. Based on technology, the market is segmented into GPS, acceleration & braking controller, dedicated short range communication, cellular & Wi-Fi communication, and V2V communication. Based on components, the market is segmented into system display with rear time camera, forward looking camera, radar base collision mitigation, and driver-centric design.
Regional Analysis:
Based on region, the market is segmented into Europe, Asia-Pacific, North America, and Rest of the World. The prevalence of automated technologies associated with platooning in most regions has driven the demand in the truck platooning market. Presence of key manufacturers in these regions and their association with the local players, over time, have broadened the market scope in these areas.
Europe market is estimated to rule the global market over the assessment period. Truck platooning deals with high capital costs, which consequently turns into an entry barrier.
Asia-Pacific market is likely to hold the second largest share throughout the review period owing to increasing demand of commercial vehicles in India. The surging demand of commercial vehicles has led to the growth in the truck platooning market. The minimum driving efforts along with safety and easy transportation for attaining the desired automated vehicles gives rise to the need for adoption of progressive technologies, such as platooning.
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TABLE OF CONTENTS:
1 Introduction
1.1 Definition
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Propulsionology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
3.5 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porters Five Forces Model
4.1.1 Bargaining Power Of Suppliers
4.1.2 Bargaining Power Of Customer
4.1.3 Intensity Of Competitors
4.1.4 Threat Of New Entrants
5 V2X, By Communication Type
5.1 Introduction
5.1.1 V2C
Continued…
LIST OF TABLES:
Table 1 Global Truck Platooning Market: By Region, 2018-2023
Table 2 North America Truck Platooning Market: By Country, 2018-2023
Table 3 Europe Truck Platooning Market: By Country, 2018-2023
Table 4 Asia-Pacific Truck Platooning Market: By Country, 2018-2023
Table 5 RoW Truck Platooning Market: By Country, 2018-2023
Continued…
LIST OF FIGURES:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top-Down & Bottom-Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porters Five Forces Analysis
FIGURE 7 Value Chain Analysis
Continued…
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