Truck Platooning Segmentation, Demand and Supply 2021-2026

[hemlata kumbhar]

Truck platooning is the connecting of two or more trucks in a convoy, with the usage of connecting technology and automated driving support systems. These vehicles automatically preserve a set, close space between each other when they are connected during common or journey, for instance on roads. The first truck at the front of the platoon acts as the leader, with the vehicles behind reacting and adapting to variations in its drive, requires less action from traveling vehicle drivers. In the first case, traveling vehicle drivers will endure in control, so they can also decide to leave the platoon and drive independently.
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Reduction in fuel consumption and greenhouse gas emissions is driving the demand for truck platooning systems around the globe. The decrease in fuel consumption is accomplished due to the proximity amid the vehicles that make their flow more efficient declining the aerodynamic drag of the set of trucks. Trucks platooning systems have shown a significant improvement in fuel savings with the leading truck achieving 4-5% fuel efficiency, while the trailing trucks achieved about 7-10% of fuel efficiency in testing trials on the public motorways. Owing to this, many automobile manufactures, and logistics service providers are opting for truck platooning to lowers fuel consumption and to improve safety. Moreover, platooning optimizes transport by using roads more effectively, delivering goods faster, and reducing traffic jams. The driving range of trucks can also be extended in certain situations which also boosts the growth of the market.
However, some of the restraints in the market include the high cost of the device and risks involving communication failures which are limiting the adoption rate among the manufactures and service providers.
Based on the Services, the market is fragmented into Telematics-Based Services and Platooning-Based Services.
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For a better understanding of the market adoption of the truck platooning, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe),
Some of the major players operating in the market include Peloton Technology, Bendix Commercial Vehicle Systems LLC, AB Volvo, Continental AG, Daimler AG, BorgWarner Inc., Wabco, DAF Trucks, Scania AB, Aptiv, and among others. Several M&A’s along with partnerships have been undertaken by these players which
Global Truck Platooning Market is expected to exceed the market valuation of more than US$ 500 million in 2027 and is expected to grow at a significant CAGR of ~45% during the forecast period (2021-2027). The market of truck platooning has evolved significantly in recent years and is witnessing an uptick owing to the surging demand from the stakeholders as this technology reduced fuel consumption and greenhouse gas emissions. Various governments have enacted regulations to reduce greenhouse gas emissions from vehicles. The transportation industry contributes significantly to global pollution, with trucks accounting for the majority of greenhouse gas emissions. The adoption of truck platooning technology in the transportation sector will help to minimize greenhouse gas emissions. Platooning can reduce CO2 emissions by up to 16% from the trailing vehicles and by up to 8% from the lead vehicle (according to the recent ITS4CV study by Ertico).
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Trucks are the most common vehicle that uses the platooning system, as in the research trials on public highways, they have shown substantial fuel savings, with the leading truck achieving 4-5% fuel efficiency and the trailing trucks achieving around 7-10%. Truck platooning can make road transportation safer, cleaner, and more effective, allowing goods to be delivered faster and reducing traffic congestion. Recent research from transport data company INRIX into the state of congestion in 200 cities in 38 countries highlights the impact of traffic congestion. It found the total cost of lost productivity caused by congestion to be US$ 87 billion in the United States.
Further, with conventional trucks, critical risk factors are driver reaction time and concentration. Indeed, human error is to blame for 90% of all traffic incidents. As per WHO statistics, Road traffic accidents claim the lives of about 1.35 million people per year. The majority of countries lose 3% of their GDP due to traffic accidents. Truck platooning helps improve safety. When opposed to human braking, connected driving allows for automatic braking with virtually no reaction time. Platooning increases the safety of other road users by allowing trucks to drive more predictably on the road.
Peloton Technology, Bendix Commercial Vehicle Systems LLC, AB Volvo, Continental AG, Daimler AG, BorgWarner Inc., Wabco, DAF Trucks, Scania AB, and Aptiv are some of the prominent players operating in the global truck platooning market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Platooning Type, Driver-Assistive Tuck Platooning (DATP) segment holds the major share”
Based on Platooning Type, the market is fragmented into Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooningand is expected to maintain its dominance during the forecast period. However, the Autonomous Truck Platooning segment would witness the highest CAGR during the forecast period owing to the benefits shortage of drivers.
“Amongst Services, Driver-Assistive Tuck Platooning (DATP) segment holds the major share”
Based on the Services, the market is fragmented into Telematics-Based Services and Platooning-Based Services. The Telematics-Based Services is further segmented into Automatic Crash Notification, Emergency Calling, Navigation & Infotainment, On-road Assistance, Remote Diagnostics, Vehicle Tracking, and Others.
“Amongst Systems, Adaptive Cruise Control (ACC) segment holds the major share”
Based on the Systems, the market is fragmented into Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), Autonomous Emergency Braking (AEB), Human Machine Interface (HMI), and Others.
“Amongst Sensor Type, Image segment holds the major share”
dominance during the forecast period and would witness the highest CAGR during the forecast period.
“Amongst Communication Technology, Vehicle-to-infrastructure (V2I) segment holds the major share”
Based on the Communication Technology, the market is fragmented into Vehicle-to-infrastructure (V2I), and Vehicle-to-vehicle (V2V).
“North America represents one of the largest markets of Truck Platooning market”
For a better understanding of the market dynamics of the Truck Platooning market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain,
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Table of Contents
1 MARKET INTRODUCTION
1.1 Market Definitions
1.2 Objective of the Study
1.3 Limitation
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Global Truck Platooning Market Study
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the Global Truck Platooning Market
2.1.1 Main Objective of the Global Truck Platooning Market
3 INDUSTRY PERFORMANCE
4 EXECUTIVE SUMMARY
5 MARKET INSIGHTS BY PLATOONING TYPE
5.1 Driver-Assistive Tuck Platooning (DATP)
5.2 Autonomous Truck Platooning
6 MARKET INSIGHTS BY SERVICES
6 6.1 Telematics-Based Services
6.1.1 Automatic Crash Notification
6.1.2 Emergency Calling
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6.1.3 Navigation & Infotainment
6.1.4 On-road Assistance
6.1.5 Remote Diagnostics
6.1.6 Vehicle Tracking
6.1.7 Others
6.2 Platooning-Based Services
7 MARKET INSIGHTS BY SYSTEMS
7.1 Adaptive Cruise Control (ACC)
7.2 Blind Spot Warning (BSW)
7.3 Global Positioning System (GPS)
7.4 Forward Collision Warning (FCW)
7.5 Lane Keep Assist (LKA)
7.6 Autonomous Emergency Braking (AEB)
7.7 Human Machine Interface (HMI)
7.8 Others
8 MARKET INSIGHTS BY SENSOR TYPE
8.1 Image
8.2 Radar
8.3 LiDAR
9 MARKET INSIGHTS BY COMMUNICATION TECHNOLOGY
9.1 Vehicle-to-Infrastructure (V2I)
9.2 Vehicle-to-Vehicle (V2V)
8 MARKET INSIGHTS BY REGION
8.1 North America Truck Platooning Market
8.1.1 United States
8.1.2 Canada
8.1.3 Rest of North America
8.2 Europe Truck Platooning Market
8.2.1 Germany
8.2.2 France
8.2.3 United Kingdom
8.2.4 Spain
8.2.5 Rest of Europe
8.3 Asia Pacific Truck Platooning Market
8.3.1 China
8.3.2 Japan
8.3.3 Australia
8.3.4 Singapore
8.3.5 Rest of Asia-Pacific
8.4 Rest of the World Truck Platooning Market
9 TRUCK PLATOONING MARKET DYNAMICS
9.1 Market Trends & Drivers
9.2 Market Challenges
9.3 Impact Analysis
10 DEMAND AND SUPPLY SIDE ANALYSIS
10.1 Demand Side Analysis
10.2 Supply Side Analysis
10.2.1 Top Product Launches
10.2.2 Top Business Partnerships
10.2.3 Top Merger & Acquisitions
10.2.4 Top Business Expansions and Investments
11 VALUE CHAIN ANALYSIS
12 TRUCK PLATOONING MARKET OPPORTUNITIES
13 TRUCK PLATOONING MARKET TRENDS & INSIGHTS
14 COMPETITIVE SCENARIO
15 COMPANY PROFILED
15.1 Peloton Technology
15.2 Bendix Commercial Vehicle Systems LLC
15.3 AB Volvo

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