New York, NY -- (SBWIRE) -- 02/26/2021 -- The global Truck Platooning market was valued at USD 650.71 Million in 2018 and is projected to grow at a CAGR of 31.65% from 2019 to 2026. The increasing government regulations related to the reduction of emissions as well as the rising demand for lowering the fuel consumption are the major factors for the growth of the Truck Platooning market. Another factor that is boosting the growth of the Truck Platooning market is the rising adoption of Internet of Things (IoT). The factor restraining the growth of the market is the high cost of technology. Another factor that will hinder the growth of the market is the quality of the roads need to be good enough.

Truck platooning refers to the linking of at least two or more trucks in a convoy, with the use of connectivity technology and computerized driving support systems. This results in improved fuel efficiency of the trucks. The rising demand for better fuel efficiency has been the factor for the growth of the Truck Platooning market. Some of the advanced features of this system include adaptive cruise control, forward collision avoidance system and lane departure warning. Inclusion of such features in the trucks will help them to enter into semi-autonomous level of driving capability, thus reducing the probability of human error accidents in between transits.

Some of the key players in the Truck Platooning market are:

Bendix (U.S.), A B Volvo (Sweden), Continental AG (Germany), Daimler AG (Germany), Aptiv PLC (Ireland), Wabco (France), Navistar, Inc. (U.S.), DAF Trucks (Netherlands), Peloton Technology (U.S.), and Scania AB(Sweden).

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Competitive Landscape:

The report presents a holistic investigation of the Truck Platooning business mechanism and growth-oriented approaches undertaken by the leading companies operating in this market. The report highlights the numerous strategic initiatives, such as new business deals and collaborations, mergers & acquisitions, joint ventures, product launches, and technological upgradation, implemented by the leading market contenders to set a firm foot in the market. Hence, this section is inclusive of the company profiles of the key players, total revenue accumulation, product sales, profit margins, product pricing, sales & distribution channels, and industry analysis.

For the purpose of this study, Reports and Data have segmented the Truck Platooning Market on the basis of Technology, Communication Technology, Platooning Type, Services, and Region:

Technology (Revenue, USD Million; 2016–2026)

Adaptive Cruise Control
Forward Collision Avoidance & Mitigation
Lane Departure Warning
Active Brake Assist
Blind Spot Warning
Global Positioning System
Autonomous Emergency Braking
Others

Communication Technology (Revenue, USD Million; 2016–2026)

V2V
V2I
Global Positioning System (GPS)

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Platooning Type (Revenue, USD Million; 2016–2026)

Driver Assistive Truck Platooning (DATP)
Autonomous Truck Platooning

Regional Outlook (Revenue in USD Million; 2016–2026)

North America
Europe
Asia Pacific

Geographical Analysis:

The latest business intelligence report analyzes the global Truck Platooning market in terms of market reach and consumer bases in the market's key geographical regions. The global Truck Platooning market can be categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa based on geography. This section of the report precisely evaluates the presence of the global Truck Platooning market in the major regions. It determines the market share, market size, revenue contribution, sales network, and distribution channels of each regional segment.

Key Points of the Geographical Analysis:

Data and information related to the consumption rate in each region.
Estimated increase in the consumption rate.
Proposed growth of the market share of each region.
Geographical contribution to market revenue.
Expected growth rate of the regional markets.

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Table of Content:

Chapter 1. Market Synopsis

1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Introduction
2.2. Summary Snapshot, 2016 – 2026
2.3. Assumptions
2.4. Limitations

Chapter 3. Indicative Metrics

3.1. Growing Automotive Industry
3.2. Rising logistics industry

Chapter 4. Global Truck Platooning Market Segmentation & Impact Analysis

4.1. Global Truck Platooning Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market Indicators Analysis
4.2.2. Market Drivers Analysis

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