How big is the Truck Platooning Market?

The Truck Platooning Market size is expected to reach USD 0.66 billion in 2024 and grow at a CAGR of 22.25% to reach USD 1.79 billion by 2029. Read More

What is the current Truck Platooning Market size?

In 2024, the Truck Platooning Market size is expected to reach USD 0.66 billion. Read More

Who are the key players in Truck Platooning Market?

Peloton Technology, Daimler Truck AG, AB Volvo, Paccar Inc (DAF Trucks) and Volkswagen Group (MAN, Scania) are the major companies operating in the Truck Platooning Market. Read More

Which is the fastest growing region in Truck Platooning Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Truck Platooning Market?

In 2024, the North America accounts for the largest market share in Truck Platooning Market. Read More

What years does this Truck Platooning Market cover, and what was the market size in 2023?

In 2023, the Truck Platooning Market size was estimated at USD 0.51 billion. The report covers the Truck Platooning Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Truck Platooning Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Truck Platooning Market - Companies, Size & Growth

Truck Platooning Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Truck Platooning Industry is Segmented by Technology Type (Adaptive Cruise Control, Forward Collision Avoidance, Lane Departure Warning, and Active Brake Assist), Infrastructure Type (V2V, V2i, and GPS), Autonomous Level (Semi-Autonomous and Full-Autonomous), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Truck Platooning Industry Overview

The truck platooning market is highly consolidated and competitive due to the few dominant players in the ecosystem. Some of the major players include Peloton Technology, Daimler Truck AG, AB Volvo, Paccar Inc., Volkswagen Group, Toyota Motor Corporation, Iveco S.p.A., and Hyundai Motor Company, among others. These players are activectively engaging in partnership and collaboration with technology players and government authorities to test their truck platooning solutions for their effective deployment in future.

In May 2023, based in Columbus, EASE Logistics announced a strategic collaboration with the Ohio Department of Transportation (ODOT) and DriveOhio's Rural Automated Driving Systems (ADS) initiative. The partnership aims to introduce advanced automated trucking technology to routes with the highest potential to generate revenue. Specifically, the project aims to deploy two semi-trucks equipped with AI vehicle-to-vehicle (V2V) communication technology to traverse routes spanning 32 counties.

The market is anticipated to witness the development of high-end communications technology and advanced autonomous truck platooning solutions as these players try to gain a competitive edge.