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Platooning Trucks Market

Platooning Trucks Market- Rising Demand For Transport And Logistics And Increase In Trucking
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.
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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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