Truck Platooning Market Growth Analysis By Scope and Growing Forecast 2020 | Reports And Data

(CDN Newswire via Comtex)

According to the current analysis of Reports and Data, 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.

The report includes the latest coverage of the impact of COVID-19 on the Truck Platooning industry. The incidence has affected nearly every aspect of the business domain. This study evaluates the current scenario and predicts future outcomes of the pandemic on the global economy.

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Key participants include 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).

The research segments the market based on product type, applications and end-use. It profiles the key players of the business and their individual contribution to the global economy. The report focuses on significant investments, business ventures, mergers, acquisitions, collaborations along with the technological developments in the field. It also evaluates the upcoming and niche areas in the business. The researcher aims to offer expert insights related to the industry and the new opportunities available in the market.

For the purpose of this report, Reports and Data have segmented the global Truck Platooning market according to Product, Component, Application, End-user, 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)

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

  • Driver Assistive Truck Platooning (DATP)
  • Autonomous Truck Platooning

Services (Revenue, USD Million; 2016-2026)

  • Telematics based
  • Platooning based

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Further key findings from the report suggest

  1. The Global Truck Platooning market is forecast to grow at a rate of 31.65% CAGR to reach a valuation of USD 5.91 Billion in 2026.
  2. Major driver for the growth of the market is the increasing demand for lowering the fuel consumption. Another factor that is adding up to the growth of the market are the increasing government regulations related to the reduction of emissions.
  3. Rising adoption of Internet of Things (IoT) is another factor that will help the growth of the market over the forecasted period.
  4. North America was the largest revenue generating region in the year 2018 on account of large demand for safe and efficient vehicles in the region. The region is forecasted to continue remaining the largest revenue holding region in 2026.
  5. The industry includes truck OEMs and the technology providers. Market players are increasingly adopting strategies like mergers & acquisitions alongside the increase in the investments in the industry.
  6. DATP segment held the largest share in the market in 2018 on account of nascent stage of the truck platooning systems. However, with the increasing automation in the industry, the demand for Autonomous Truck platooning segment is forecasted to grow the fastest over the forecast period. Autonomous truck platooning segment was valued at USD 301.83 million in 2018.

Key Questioned Answered mentioned in the Report -

  1. What are the products offered by the Truck Platooning industry presently?
  2. What are the different applications of the products offered in this market of Truck Platooning?
  3. Who could be claimed as the most dominant and influential players in this global industry?
  4. Which factors act as the drivers of this market, and which factors pull this industry down acting as restraints?
  5. What can be determined by the trends obtained from the evaluation of the historical data for the Truck Platooning industry?

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