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.
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.
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 METRIC |
DETAILS |
Market Size Available |
2024 to 2033 |
Base Year |
2024 |
Forecast Period |
2025 to 2033 |
CAGR |
31.42% |
Segments Covered |
By Platooning Type, System, Sensor Type, Service, and Region. |
Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Peloton Technology, Daimler AG, Volvo Group, Scania AB, Continental AG, DAF Trucks (Paccar Company), and Others. |
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.
Peloton and Diameler AG are the two industries that dominate the whole truck platooning market globally.
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.
This research report on the global truck platooning market is segmented and sub-segmented into the following categories.
By Platooning Type
By System
By Sensor Type
By Service
By Region
Frequently Asked Questions
The Global Truck Platooning Market is expected to grow with a CAGR of 31.42% between 2023-2028.
The Global Truck Platooning Market size is expected to reach a revised size of US$ 8.53 billion by 2028.
Peloton Technology, Daimler AG, and Volvo Group are the three Truck Platooning Market key players.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from
$ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: sales@marketdataforecast.com
Reports By Region