Transparency Market Research
Platooning trucks are a set of vehicles that transit together and are in active co-ordination with each other. The trucks maintain a safe distance between each other by using various sensors and software.
Rising demand for transport and logistics and increase in trucking activity are primary drivers of the platooning truck market. The trend of intercontinental trucking in Europe and North America is expected to boost the platooning trucks market. Development of infrastructure such as national and international highways is anticipated to boost the market of platooning trucks. Continuous efforts by governments to reduce greenhouse emissions is driving the platooning trucks market. Platooning trucks run efficiently, thus reducing fuel consumption and emissions and are hence, expected to boost the market. Rise in electrification of vehicles and development of connected vehicle technology are expected to boost the demand for platooning trucks. Fleet operators lose out on considerable amount of essential time owing to the rule of maximum driving up to 11 hours. Platoon fleets are likely to take fewer halts and the drivers are expected to be able to log more hours, due to autonomous running of platooning trucks, thus boosting the revenues of fleet operators. Increasing competition among fleet operators and entry of major players such as Peloton Technology, Volvo Group, and Daimler AG in platooning trucks is expected to compel other operators to adopt platooning, thus expanding the market.
The initial costing of platooning trucks is high, as autonomous vehicle technologies are in the nascent phase. Trucking industry needs to comply with cyber security and safety regulations for working of crucial Dedicated Short Range Communication (DSRC) and networks. Platooning trucks can be plied on roads that can support autonomous vehicle driving and hence, poor infrastructure in developing countries is likely to hamper the platooning trucks market.
The global platooning trucks market can be segmented based on technology, fleet size, infrastructure, and region. Based on technology, the global platooning trucks market can be classified into DSRS vehicle to vehicle communication, Radar/LiDAR and image sensor, and two other segments. The DSRS segment is anticipated to play an instrumental role and high demand for platooning trucks is likely to be witnessed in the segment.
Based on infrastructure, the platooning trucks market can be bifurcated into vehicle to vehicle (V2V), vehicle to device (V2D), and Vehicle to infrastructure (V2I).
In terms of vehicle, the platooning trucks market can be classified into light commercial vehicle and heavy commercial vehicle. The heavy commercial vehicle segment, which includes trailers and tankers is estimated to hold a major market share of the platooning trucks market.
Based on geography, the global platooning trucks market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe and North America are anticipated to lead the global platooning trucks market due to supporting infrastructure and legal framework initiated in the U.S. and Europe regarding autonomous vehicles in order to push self-driving technologies.
Top players operating in the global platooning trucks market include Peleton Technology, Daimler AG, Scania, Navistar, MAN, and IVECO.
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