At 60.96% + CAGR, Global Truck Platooning Market worth of USD 2,728.7 million by 2030

“The rising number of road accidents due to driver error and increasing focus on reducing transportation operating cost will fuel the demand for the truck platooning market”

The truck platooning market is projected to grow at a CAGR of 60.96% during the forecast period, and the market size is projected to grow from USD 37.6 million in 2021 to USD 2,728.7 million by 2030. The development of autonomous and semi-autonomous trucks and industry-wide standards to implement safety features such as the adaptive cruise control (ACC), forward collision warning, lane keep assist, and other advanced driver assistance systems (ADAS) features would drive the growth of the truck platooning market. At the same time, the high cost of hardware and technologies and lack of infrastructure development can be major obstacles for the growth of the truck platooning market.

 

Request a Free Sample copy of This Premium Research Report:  https://watchersofmarkets.com/products/truck-platooning-market-by-type-datp-autonomous-systems-acc-aeb-fcw-gps-hmi-lka-bsw-sensor-lidar-radar-image-services-telematics-ecall-ace-tracking-diagnostics-platooning-pricing-match-making-region-global-forecast-to-2030#tab-questions

 

“The market for driver assistive truck platooning (DATP) is projected to hold the largest share in the truck platooning market”

The increasing adoption of advanced driver assistance system (ADAS) features and significant platooning testing are driving the market for DATP. DATP helps drivers detect and make sufficient space for any vehicle that comes in between the platooning trucks with the help of state-of-the-art safety technology. According to industry experts, truck platooning will help to reduce operating cost by 5% to 10% per truck. The reduction in operating cost would encourage fleet management companies to invest in DATP. Additionally, the significant platooning testing and increased funding from the government would play a major role in the development of DATP.

 

In June 2018, Volvo Trucks North America announced the successful demonstration of on-highway truck platooning in North Carolina. The company has been working closely with FedEx and the North Carolina Turnpike Authority to expand on-highway operations of Volvo’s Cooperative Adaptive Cruise Control. In September 2017, Daimler Trucks North America announced the testing of truck platooning operations on public highways of Oregon and Nevada in the US. The cost of the DATP systems is projected to decrease in the near future owing to advancements and commercialization of this technology. Reduced cost will make DATP more profitable and, hence, would increase the market adoption of the technology.

 

“Europe: The fastest growing region in the truck platooning market”

Europe is projected to be fastest growing region in the truck platooning market. The major factors driving the growth of the European market include pioneering efforts in truck platooning, technological advancements, and stringent vehicle safety norms in the region. For instance, in July 2017, Germany’s Federal Ministry of Transport and Digital Infrastructure (BMVI) invested approximately USD 2.3 million to support a truck platooning project by DB Schenker (Germany), MAN (Germany), and Hochschule (Germany). With the growing adoption of truck platooning developments in the region, the European truck platooning market is expected to witness considerable growth during the forecast period.

 

Read More about this report: https://watchersofmarkets.com/products/truck-platooning-market-by-type-datp-autonomous-systems-acc-aeb-fcw-gps-hmi-lka-bsw-sensor-lidar-radar-image-services-telematics-ecall-ace-tracking-diagnostics-platooning-pricing-match-making-region-global-forecast-to-2030

 

BREAKDOWN OF PRIMARIES

The study contains insights provided by various industry experts, ranging from Tier-I companies to truck platooning service providers.

 

The breakdown of the primaries is as follows:

 By Company Type: Tier-I—50%, Tier-II—30%, and OEMs—20%

 By Designation: C level—65%, D level—25%, and Others*—10%

 By Region: Europe—55%, North America—30%, Asia Oceania—10%, and MEA—5%,

 

Note: https://watchersofmarkets.com/products/truck-platooning-market-by-type-datp-autonomous-systems-acc-aeb-fcw-gps-hmi-lka-bsw-sensor-lidar-radar-image-services-telematics-ecall-ace-tracking-diagnostics-platooning-pricing-match-making-region-global-forecast-to-2030

The report provides detailed profiles of the following companies:

 Volvo (Sweden)

 Daimler (Germany)

 Scania (Sweden)

 Paccar (US)

 MAN (Germany)

 Toyota Tsusho (Japan)

 Hino Motors (Japan)

 Continental (Germany)

 Bosch (Germany)

 ZF (Germany)

 

Related Report:

Connected Truck Market by Range (DSRC and Cellular) Service (Fleet Management and Cybersecurity & Updates) Component (Hardware and Software) Communication (V2V V2I and V2C) Vehicle (LCV and HCV) and Region - Global Forecast to 2022

“Stringent vehicle safety legislation and increasing demand for connected services are expected to fuel the demand for connected truck market”

The global connected truck market for automotive is projected to grow from USD 18.60 billion in 2017 to USD 37.64 billion by 2022, at a CAGR of 15.14%. The key factors driving the growth of the market include the increase in the vehicle safety legislation, industry compliances, and government regulations regarding safety and security of the vehicle. Other growth drivers include the increased demand for driver assistance system, which includes adaptive cruise control (ACC), blind spot warning (BSW), forward collision warning (FCW), lane departure warning (LDW), park assist system (PAS), and emergency brake assist (EBA). On the other hand, the lack of a strong network infrastructure in developing countries may hinder the growth of the connected truck market.

Read More: https://watchersofmarkets.com/products/connected-truck-market-by-range-dsrc-and-cellular-service-fleet-management-and-cybersecurity-updates-component-hardware-and-software-communication-v2v-v2i-and-v2c-vehicle-lcv-and-hcv-and-region-global-forecast-to-2022

About Us:

We are a leading market research store (headquartered in The Hague, Netherlands) bringing to you market research insights, analysis and data from many market research publishers around the globe.

Our experienced market research consultants understand a client’s research requirements in precise manner and get as many proposals around the globe as possible on the table suiting your budget and mapping your research goals.

Our only motivation is to provide clients with precise insights into their respective niche markets and offering them the most comprehensive portfolio of business information products.

 

Contact:

Watchers of Markets

Henriëtte van der Meydreef 144,2492 JG, Den Haag, Netherlands.

Website: https://watchersofmarkets.com/

Phone number: +31- 85 888 111 6

Email Id : [email protected]

Leave a Reply

News Categories

Featured Press Releases

Log in