DUBLIN, May 03, 2022–(BUSINESS WIRE)–The “Truck Platooning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global truck platooning market reached a value of US$ 1.86 billion in 2021. Looking forward, the market is projected to reach a value of US$ 9.66 billion by 2027, exhibiting a CAGR of 30.20% during 2022-2027.
DAF Trucks N.V. (PACCAR Inc.)
Hino Motors Ltd. (Toyota Motor Corporation)
Iveco Group N.V.
Knorr-Bremse Aktiengesellschaft (Kb Holding GmbH)
Robert Bosch GmbH
Scania AB (Traton SE)
ZF Friedrichshafen AG (Zeppelin-Stiftung)
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Truck platooning involves the linking of multiple trucks in a convoy through the utilization of modern technologies. It generally employs vehicle-to-vehicle (V2V) communication, radar and sensor technologies for maintaining a close distance between numerous trucks. The deployment of these solutions aids in minimizing greenhouse gas (GHG) emissions and fuel consumption while improving the overall safety of automobiles. Apart from this, truck platooning also streamlines various processes for maintaining an efficient transportation system, which further results in the reduction of traffic congestion.
The global market is primarily driven by continual technological advancements in the automotive sector. This is further supported by the rising adoption of automated technologies and the implementation of Internet of Things (IoT)-enabled devices in various vehicles. For instance, the rising integration of automated driving assistance systems (ADAS) with trucks is creating a positive outlook for the market. Additionally, the growing environmental concerns among the masses are positively influencing the market growth.
Moreover, the implementation of stringent traffic safety norms across the globe due to the increasing incidences of road accidents is also providing a boost to the market growth as truck platooning helps prevent accidents caused due to driver errors. Apart from this, the increasing number of infrastructural development projects and continuous improvements in commercial operations across the logistics sector are considered to be major growth-inducing factors.
Furthermore, the development of autonomous and semi-autonomous trucks that can help reduce transportation costs while improving supply chain efficiency is expected to create a favorable market scenario. Other factors, including rapid digitization and industrialization, increasing investments by public and private firms in product innovation and extensive research and development (R&D) activities conducted by key players, are further projected to drive the market growth on the global level.
Key Questions Answered in This Report
How has the global truck platooning market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global truck platooning market?
What are the key regional markets?
What is the breakup of the market based on the platooning type?
What is the breakup of the market based on the communication technology?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the services?
What is the breakup of the market based on the sensor type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global truck platooning market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Truck Platooning Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Platooning Type
7 Market Breakup by Communication Technology
8 Market Breakup by Technology
9 Market Breakup by Services
10 Market Breakup by Sensor Type
11 Market Breakup by Region
12 SWOT Analysis
13 Value Chain Analysis
14 Porters Five Forces Analysis
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/fpo51o
View source version on businesswire.com: https://www.businesswire.com/news/home/20220503005733/en/
Laura Wood, Senior Press Manager
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