The global truck platooning market is anticipated to grow at an exponential CAGR of 28.9% during the forecast period. One of the key factors that are fueling the market is the support from the various government via promoting it, supporting it, and testing it. For instance, in April 2022, the European Commission published a report “Analysis of market needs, business models and life-cycle environmental impacts of multi-brand platooning” for analyzing multi-brand platooning. The government of various regions is making rules for supporting the adoption and testing of platooning technology of trucks on roadways due to its benefits such as reduced emission of harmful gases, fuel consumption, less traffic congestion, and others.
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For instance, in May 2020, the US States, Arizona, Texas, and Utah confirmed the allowance of automated follower truck platooning. Moreover, the Ministry of transportation in Ontario, Canada, incorporated the development of its pilot project for evaluating and testing the automated truck and vehicle platooning technology on Ontario roadways. Such supportive government initiatives to test truck platooning technology are anticipated to offer exponential growth and show great future potential in the market in upcoming years.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Truck Platooning Market Report Segment
By Technology Type
- Adaptive Cruise Control (ACC)
- Blind Spot Warning (BSW)
- Global Positioning System (GPS)
- Forward Collision Warning (FCW)
- Lane Keep Assist (LKA)
- Others (Active Brake Assist (ABA))
By Autonomous Level
- Semi-Autonomous
- Full-Autonomous
By Communication Technology
- Vehicle-to-Vehicle (V2V)
- Vehicle-to-Infrastructure (V2I)
- Global Positioning System (GPS)
Global Truck Platooning Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global truck platooning market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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