Home > > Global Truck Platooning Market Report
The Truck Platooning market was valued at $37.5 Million in 2020, and is projected to reach $73.8 Million by 2029 growing at a CAGR of 7.85% from 2021 to 2029. Truck platooning, also known as "trucking in convoy," refers to the use of advanced vehicle technologies to enable a group of trucks to travel closely together in a convoy. This technology has the potential to improve fuel efficiency, reduce emissions, and improve safety, and has seen significant growth in recent years. Some of the key drivers of this growth include the increasing demand for fuel-efficient and environmentally-friendly transportation solutions, the growing use of automation and advanced vehicle technologies in the trucking industry, and the increasing adoption of intelligent transportation systems (ITS). One of the major trends in the truck platooning market is the increasing use of advanced sensors and control systems to enable trucks to communicate with each other and with the surrounding environment. This includes the use of technologies such as radar, lidar, and GPS to enable trucks to detect and respond to other vehicles, as well as the use of advanced control algorithms to process and interpret sensor data. Another trend in the truck platooning market is the increasing use of connected and autonomous vehicle technologies to enable trucks to operate in a convoy with minimal driver intervention. This includes the use of advanced driver assistance systems (ADAS) and autonomous driving technologies to enable trucks to maintain a safe distance from each other and to respond to changing traffic conditions. There are also many opportunities for growth in the truck platooning market, including the increasing demand for fuel-efficient and environmentally-friendly transportation solutions, the growing adoption of ITS, and the potential for truck platooning to improve safety and reduce traffic congestion. Overall, the truck platooning market is expected to continue to grow in the coming years as the trucking industry increasingly adopts these technologies to improve efficiency and reduce costs.