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Growing commercial vehicle sales are likely to promote innovation in truck platooning production, propelling the market during the forecast period.

The global truck platooning market is expected to grow from $1.59 billion in 2022 to $2.09 billion in 2023 at a compound annual growth rate (CAGR) of 31.9%. The global truck platooning market size is expected to reach $6.09 billion in 2027 at a CAGR of 30.6%.

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Global truck platooning Market Segments Include:

• By Services: Telematic Based Services, Automatic Crash Notification, Emergency Calling, Navigation And Infotainment, On Road Assistance, Remote Diagnostics, Vehicle Tracking, Other Services
• By Component: Forward Looking Camera, System Display With Rear Time Camera, RADAR Base Collision Mitigation, LiDAR
• By Platooning Type: Driver-Assistive Tuck Platooning (DATP), Autonomous Truck Platooning
• By Communication Technology: Vehicle-To-Infrastructure (V2I), Vehicle-To-Vehicle (V2V), Vehicle-To-Everything (V2X)
• By Autonomous Level: Semi-Autonomous, Full-Autonomous
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global truck platooning market in 2021.

Major Market Players in the truck platooning market include Daimler AG, Peloton Technology, Volvo Group, Continental AG, Navistar Inc., Scania AB, IVECO S.p.A, Hino Motors Ltd., Nvidia Corporation, Bendix Corporation, MAN Truck & Bus SE.

To maintain their market position, major truck platooning businesses are using innovative technology. TuSimple, a US-based autonomous trucking startup, for example, developed an autonomous freight network (AFN) in July 2020, an ecosystem comprised of autonomous trucks, digitally planned routes, strategically situated terminals, and TuSimple Connect, a unique autonomous operations monitoring system. These components combine to offer the most efficient and secure means of commercialising self-driving trucks.

The Truck Platooning Global Market Report 2023  provides a truck platooning market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The truck platooning market forecast analyzes truck platooning market size, truck platooning market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Truck platooning is the joining of two or more vehicles in a platoon through the use of autonomous driving assistance systems and networking technology. It allows trucks to closely follow one another, reducing air resistance and increasing fuel economy.

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