Truck Platooning: Market Introduction & Market Dynamics
Truck platooning is connecting two or more trucks using automotive driving support technologies so that these connected vehicle can depict each other’s movement. The truck ahead of all the connected trucks acts as the leader, and rest of the platoon react accordingly by reacting & adapting movement of the leader truck.
Thus, truck platooning requires no or little action from the driver. Platooning type could either be autonomous truck platooning or driver-assistive tuck platooning. This evolving trend of truck platooning holds a substantial potential in making the road transportation cleaner, safer, and efficient over coming years.
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Government of developed countries have imposed set regulations aiming to reduce emission from road transportation. In the transportation sector, emission of greenhouse gases from trucks contributes a major share which can be reduced by truck platooning as these trucks drive close to each other, in turn, reducing the air drag by 40% resulting in one-tenth reduction in carbon oxide emission per kilometer. Thus, truck platooning is a remarkable solution for controlling the ongoing emission, which in turn, is expected to create notable opportunities for the global truck platooning market in years to come.
Moreover, truck platooning also reduces fuel consumption as the air resistance is less between the trucks, and there are couple of manufacturers, such as Scania and Peloton Technology, who are focusing on reducing the fuel consumption further. Therefore, over the forecasted period, the global truck platooning market is expected to have substantial growth. Additionally, adoption of truck platooning reduces traffic congestion. Thus, there a number of regulatory laws that supports truck platooning, for instance, the transposition association of Americas has incorporated projects that evaluate the technology on Canada roadways. However, the adoption of truck platooning technology is quite high as it requires Radar, Lidar, and other sensors to gather data and give command, which in turn, is predicted to hinder the demand for truck platooning.
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Truck Platooning: Regional Market Outlook
On the regional level, Europe and Americas have also been ahead of every region when it comes to technology driven products, and both the regions manufacture heavy vehicles in abundance. Thus, the adoption of truck platooning is predicted to be substantial in the regions throughout the projected period. In Asia Pacific, Japan and South Korea are stipulated to have high volume and value growth in the truck platooning market while India and China are estimated to have an above average growth. Brazil and Russia are expected to be the emerging countries in the truck platooning market. The truck platooning market is expected to be in the introductory phase in the Middle East Africa. However, due to the growing awareness and need of emission control the global truck platooning market is estimated to witness a double digit growth.
Truck Platooning: Market Key Players
The global market is estimated to be fragmented owing to the high presence of domestic and regional suppliers. Some of the major participants operating in the global truck platooning market include the following players:
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- Delphi Technologies
- AB Volvo
- Knorr-Bremse AG
- Continental AG
- Navistar, Inc.
- Daimler AG
- Meritor
- Otto Technologies
- Scania
- Peloton Technology
- TT Technologies, Inc.