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Global Truck Platooning Market to Reach $4.59 Billion by 2025 at 32.4% CAGR, Says Allied Market Research

Strict government regulations for reducing emission in the transport sector, reduction in fuel consumption, and supportive government policies for platooning have boosted the growth of the global truck platooning market. However, high cost of platooning technology and security & privacy concerns hamper the market growth. On the contrary, increasing size of fleet of truck platooning and rise in production of fully autonomous trucks are expected to create lucrative opportunities in the near future.

Portland, May 16, 2019 (GLOBE NEWSWIRE) -- According to the report, the global truck platooning market accounted for $500.9 million in 2017 and is projected to garner $4.59 billion by 2025, registering a CAGR of 32.4% from 2018 to 2025.

Global truck platooning market is segmented on the basis of technology, platooning type, communication technology, and geography. Based on technology, the market is divided into adaptive cruise control (ACC), blind spot warning (BSW), global positioning system (GPS), forward collision warning (FCW), lane keep assist (LKA), and others. The adaptive cruise control (ACC) segment held the largest share in 2017, contributing nearly one-fourth of the total market, owing to its advantages including crash avoidance, less driver fatigue, and others. However, the blind spot warning (BSW) segment is projected to register the fastest CAGR of 38.4% during the forecast period, owing to its ability to provide reliable information regarding vehicle's blind spot, safe lane changing, and high level of safety.

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On the basis of platooning type, the market is bifurcated into driver-assistive tuck platooning (DATP) and autonomous truck platooning. The DATP segment held the largest share of the total market and is expected to continue its dominance throughout the forecast period. However, the autonomous truck platooning segment is projected to register the fastest CAGR of 46.6% through 2025, owing to continuous developments carried out by the leading truck manufacturers to produce trucks with autonomous technology.

Based on communication technology, the market is divided into vehicle-to-infrastructure (V2I), vehicle-to-vehicle (V2V), and vehicle-to-everything (V2X). The report analyzes the market across various regions such as North America, Asia-Pacific, Europe, and LAMEA. The market across the North America region held the largest share, contributing nearly half of the total share in 2017. However, the market across the LAMEA region is projected to manifest the fastest CAGR of 36% during the forecast period.

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Global truck platooning market report includes an in-depth analysis of the major market players such as Continental AG, AB Volvo, Delphi Automotive PLC, Bendix Commercial Vehicles Systems LLC, Navistar International Corporation, Daimler AG, Peloton Technology, Meritor Wabco, Scania AB, OTTO Technologies, and others.


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