Global Truck Platooning Market

5 Major Insights Into The Truck Platooning Market Report 2024

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


The Business Research Company’s Truck Platooning Global Market Report 2024 offers crucial insights into the truck platooning market help businesses analyse and build stronger strategies.


The truck platooning market has witnessed exponential growth in recent years, with significant projections for the future. The growth trajectory from $2.08 billion in 2023 to $2.75 billion in 2024, representing a CAGR of 31.9%, underscores its increasing importance. This expansion is attributed to several key factors:

  • Fuel Efficiency and Cost Savings
  • Regulatory Initiatives and Emission Standards
  • Supply Chain Optimization and Logistics Efficiency
  • Road Safety and Accident Prevention


Charting the Path Ahead: Forecasts and Trends
Looking ahead, the truck platooning market is poised for even greater expansion, projected to reach $7.94 billion in 2028 with a CAGR of 30.4%. Anticipated growth drivers and emerging trends include:

  • Continued Emphasis on Sustainability
  • Advancements in Connected Vehicle Technologies
  • Expansion of Automated Driving Capabilities
  • Global Trade and Freight Movement
  • Infrastructure Investments and Smart Transportation
  • Testing and Pilot Programs
  • Development of Cybersecurity Measures
  • Integration with Connected Infrastructure
  • Focus on Driver Training and Education
  • Market Entry of New Players


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Rising Commercial Vehicle Sales Fuel Expansion of Truck Platooning Market
The surge in commercial vehicle sales serves as a catalyst for the growth of the truck platooning market. As businesses increase their fleet of commercial vehicles, the demand for platooning technologies rises, driven by the benefits they offer, including enhanced efficiency, reduced losses, and improved fuel economy. For example:

  • In September 2022, India witnessed a notable increase in commercial vehicle sales, from 54,107 units in August 2021 to 67,158 units in August 2022, indicating a growing market need.
  • Major companies dominating the truck platooning market include Daimler AG, Peloton Technology Ltd., Aktiebolaget Volvo, and many others, reflecting the industry’s robust competition and innovation.


Pioneering Technology Integration Drives Truck Platooning Market Leaders
Leading companies in the truck platooning market are leveraging innovative technologies to maintain their competitive edge. By integrating cutting-edge tools and methodologies into their operations, these companies strive to enhance efficiency and performance. For instance:

  • Resolute Forest Products, a Canada-based pulp and paper company, is at the forefront of advancing off-highway automated vehicle (AV) technology. Their collaboration in testing truck platooning prototypes underscores the industry’s commitment to innovation and progress.


Diving Deeper: Segment Analysis
The truck platooning market encompasses diverse segments, each playing a vital role in shaping its dynamics and growth trajectory:

  1. Services: Offering a range of telematic-based services, emergency assistance, navigation, and vehicle tracking.
  2. Component: Including forward-looking cameras, collision mitigation systems, and LiDAR technology.
  3. Platooning Type: Encompassing both driver-assistive and autonomous truck platooning solutions.
  4. Communication Technology: Facilitating vehicle-to-infrastructure, vehicle-to-vehicle, and vehicle-to-everything communication.
  5. Autonomous Level: Differentiating between semi-autonomous and fully autonomous driving capabilities.


Regional Outlook: Asia-Pacific Leads, North America Accelerates
In 2023, Asia-Pacific emerged as the largest region in the truck platooning market, with North America poised for rapid growth in the forecast period. This regional diversity reflects the global nature of the industry and highlights opportunities for innovation and expansion across different markets.

As the truck platooning market continues to evolve, fueled by technological advancements and market dynamics, stakeholders must remain agile and proactive to harness its full potential and drive sustainable growth in the years to come.


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The Truck Platooning Global Market Report 2024  provides a comprehensive outlook of the truck platooning market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The truck platooning market forecast offers a thorough analysis on truck platooning market size, truck platooning market share, prominent players and their strategies.


The Table Of Content For The Truck Platooning Market Include:
1. Truck Platooning Market Executive Summary
2. Truck Platooning Market Segments
3. Truck Platooning Market Size And Truck Platooning Market Growth Rate
4. Key Truck Platooning Market Trends
5. Major Truck Platooning Market Drivers
25. Key Mergers And Acquisitions In The Truck Platooning Market
26. Top Truck Platooning Companies
27. Truck Platooning Market Opportunities And Strategies
28. Truck Platooning Market, Conclusions And Recommendations
29. Appendix


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