Truck Platooning System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Truck Platooning System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

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  • Chemicals

Report Description

Truck platooning is discern as the future of the transportation industry. In a truck platoon, multiple trucks travel at an aerodynamically efficient distance and drive cooperatively by maintaining the distance. A truck platoon is similar to a train’s compartment like arrangement but with physical disconnects. If truck platoons are permitted to operate exclusively on truck-only highways, it is likely to lead to an integrated business model between the infrastructure service provider and transportation service provider. It may also result in several public-private partnerships for financing the concept of truck platooning. The market for truck platooning system is anticipated to pave opportunities for several new businesses including road construction business, transportation, logistics service providers, and information, commutation & technology (ICT) providers because of the potential business opportunity arising from connected technology offerings and the need for wireless communication technologies. Furthermore, several taxi platoons or several cars traversing the same route can enter the platoon mode for a more relaxed driving experience and, thus, leverage the benefits that stem from platooning. The advent of new businesses is expected to steer this market’s growth over the forecast period. With Europe holding a clear vision for truck platooning by 2025, this market is anticipated to have a positive outlook in the coming years. Furthermore, the Infrastructure and Environment Ministry of Europe affirmed plans to harmonize rules to facilitate large-scale, cross-border transportation through truck platooning. Additionally, several states in the US such as Texas, Florida, and California are processing applicable legislation and are also getting ready for pilot testing, which will propel the growth for truck platooning system market during the forecast period.

The global truck platooning system market can be segmented based on component, technology, vehicle, and region. In terms of component, the truck platooning system market can be divided into forward looking camera, system display with rear time camera, driver-centric design, and RADAR base collision mitigation. Rise in adoption of advanced driver-assistance systems in truck platooning has led to an upsurge in the demand for RADAR base collision mitigation segment. These system not only aid the vehicle in collision detection, warning, avoidance, and mitigation but also in lane change assistance, pedestrian protection systems, and blind spot monitoring. These features are expected to boost the demand for RADAR base collision mitigation segment during the forecast year. Forward looking camera and driver centric design segment are also estimated to be in high demand in the next few years. Based on technology, the truck platooning system market can be classified into acceleration & braking controller, GPS, cellular & Wi-Fi communication, and DSRS vehicle to vehicle communication. The DSRS vehicle to vehicle communication segment is expected to play a key role in the global truck platooning system market during the forecast period. Automobile manufacturers and technical vendors are investing in vehicle to vehicle communication in order to gain competitive advantage in the truck platooning system market. Base on vehicle the truck platooning system market can be classified into light commercial vehicle, and heavy commercial vehicle.

Based on geography, the global truck platooning system market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The European market is a mature automotive market and holds high potential for the truck platooning system market. The region is well placed in terms of smart mobility and developed ICT infrastructure and with the implementation of favorable regulatory mandates, this market is expected to witness projected growth in the region over the forecast period.

Key players operating in the global truck platooning system market are Daimler AG, Scania AB, AB Volvo, Peloton Technology, DAF, OTTO MOTORS, Bendix Commercial Vehicles Systems LLC, Meritor WABCO, and Continental AG.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market
     

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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