Truck Platooning Market

Global Truck Platooning Market Size

The global truck platooning market was valued at USD 2.90 billion in 2024 and is anticipated to reach a valuation of USD 3.81 billion in 2025, from USD 33.91 billion by 2033, growing at a CAGR of 31.42% during the forecast period from 2025 to 2033.

When two or more vehicles go through different ways, this service is used for connecting them internet and automated technology for road safety and security concerns, saving fuel efficiency rates. Also, the consumer wants to reduce the operational cost of the transportation factors, triggering market growth.  Truck platooning service makes new changes ithe n the transportation sector, so the government gives new opportunities for the market. Governments make initiatives, rules, and regulations, which give a boost to the market of truck platooning. The main reason for the growing market is the truck platooning system that provides quick reactions and avoids accidents or other issues. Currently, increasing investments from different regions and their countries in making platooning trucks are giving new opportunities in front of the world market. Also, increasing concern about road safety and security, for trying to save costs for transportation operations.  These factors are supporting the Global Truck Platooning Market. 4-5% fuel saving policy rather than 7-9% fuel saving policies from other services of the truck is accepted by the consumers. According to different regions, the increasing adoption of IoT and different technologies gives a boost to the global truck platooning market.

MARKET DRIVERS

In the Global Truck Platooning Market, some factors are playing a vital role in driving the market throughout the forecast period.  The increasing demand and concern about road safety and security provide an opportunity for the market growth of truck platooning. Also, every transportation company wants to reduce operational transportation costs for this purpose, increasing demand in the market. But some are really important factors that help in the growth of the market and drive the whole market forward. The government also supports truck platooning because of safety and security reasons, so all countries are trying to make a new market for platooning.

The rising government rules for emission reduction in transportation and vehicles are driving the global truck platooning market. Before platooning, vehicles used to consume 7-9% more fuel for transportation and traveling, but after the introduction of truck platooning, the consumption of fuel was reduced to 4-5%.  Also, some new applications such as Adaptive Cruise Control, LKA- Lane Keep Assist, and ADAS- Advanced Driver Assistance System make new changes in the market of truck platooning, and all components of the market drive the Global Truck Platooning Market.

MARKET RESTRAINTS

All over the world, every nation wants to adopt new technology, but some countries are underdeveloped and weak in their economies. In the Truck Platooning Market, the high amount of cost of hardware and technology needed for platooning is not affordable.

Also, with no strong restrictions on the rules and regulations of road safety and security in some countries, the truck platooning market is likely to be disturbed. The acceptance of drivers, transporters, and other users on the road is a restraint in the global truck platooning market.

REPORT COVERAGE

SEGMENT ANALYSIS

By Platooning Insights

In this segment, DATP has a major market share and demand in the global Truck Platooning Market. With the highest revenue, it dominates the whole platooning-type segment.

By System Insights

Of these, the ACC maintained high revenue and a high-growth market. It maintains the distance between two vehicles during travel and transportation.

By Sensor Insights

Of these, the image sensor type market is expected to have a market share during the forecast period. It provides an accurate image for truck platooning services, and it will help consumers.

REGIONAL AANALYSISHighinvestment is seen in the platooning market, and it dominates all over the market due to the high adoption of technology in these countries. Europe also demonstrates different activities towards truck platooning and acquiring big revenue and market share. 25% of the 1.5 million trucks in Europe engage in truck Platooning. APAC is also starting to invest in the Truck Platooning Market. Japan and Singapore started launching a new trend in truck platooning services in the local market.

Leading Company

Peloton and Diameler AG are the two industries that dominate the whole truck platooning market globally.

KEY MARKET PLAYERS

Peloton Technology, Daimler AG, Volvo Group, Scania AB, Continental AG, DAF Trucks (Paccar Company). These are the market players that are dominating the global truck platooning market.

RECENT HAPPENINGS IN THE MARKET 

• In June 2018, the two most popular industries in vehicle manufacturing, the Volvo Group and Made Maderoject, made a project with the Carolina Turnpike Authority on the successful demonstration of Truck Platooning services.
• In Dec 2017, Peloton, the big and leading industry in the US, worked on a project of driver-assistive truck Platooning technology in Florida.

MARKET SEGMENTATION

This research report on the global truck platooning market is segmented and sub-segmented into the following categories.

By Platooning Type

• Autonomous Truck Platooning
• DATP

By System

• Adaptive Cruise Control
• Automated Emergency Braking
• Blind Spot Warning
• Forward Collision Warning
• Global Positioning System

By Sensor Type

• Image
• Radar
• LiDAR

By Service

• Telematics Services
• Automatic Crash Notification
• Emergency Calling
• Navigation And Infotainment
• On-Road Assistance
• Remote Diagnostic and Vehicle Tracing
• Pricing
• Financial Transaction
• Match Making

By Region                                                           

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa