Europe Truck Platooning Market By Platooning Type (Autonomous & Driver Assisted), By Vehicle Type (Light Commercial Vehicle & Heavy Commercial Vehicle), By System (Adaptive Cruise Control & Others), By Sensor Type, By Country, Competition, Forecast & Opportunities, 2024

Europe truck platooning market is expected to grow at a double-digit CAGR during the forecast period, on account of growing adoption of advanced driver assistance systems (ADAS). Truck platooning helps to enhance the fuel efficiency while decreasing pollution. In platooning, trucks are equipped with connectivity technology and automated driving support systems. Moreover, platooning helps to maintain safe distance between trucks, reduce air drag and lower carbon dioxide emissions.

Truck platooning market in Europe can be segmented based on platooning type, vehicle type, system and sensor type. Based on platooning type, the market can be segmented into autonomous truck platooning and driver assisted truck platooning. Driver assisted truck platooning is expected to acquire the largest market share during the forecast period, as it helps to reduce the operating cost by 5-10%. On the basis of system, the market can be segmented into adaptive cruise control (ACC), automated emergency braking (AEB), blind spot warning (BSW), forward collision warning (FCW), lane keep assist (LKA) and others. ACC or adaptive cruise control is the essential system for enabling truck platooning, as it uses radar to sense the vehicles in front and adjusts the vehicle speed according to the distance between the trucks in platooning. In terms of sensor, the market can be classified into image, RADAR and LiDAR. Image is the dominant segment in the market, as it is used for the traffic and object detection.

Strict norms pertaining to vehicle safety and technological advancements are expected to have a positive impact on Europe truck platooning market in coming years. In terms of regional analysis, truck platooning market can be bifurcated into Germany, France, Spain, Italy, United Kingdom, Poland and the Netherlands. Germany and UK are registering huge adoption of truck platooning, owing to strong demand for commercial vehicles and smart mobility.

Major companies operating in Europe truck platooning market recorded high sales volume in 2018 and the trend is likely to continue during the forecast period. List of major players operating in the region include AB Volvo, Daimler AG, Continental AG, Scania AB, Peloton Technology Inc., Navistar International Corporation, Bendix Commercial Vehicles Systems LLC, Delphi Automotive PLC, OTTO Technologies and Meritor Wabco. Key players operating in the market are investing in innovations to earn sound returns on investments. Moreover, strategic moves such as mergers and collaborations are also helping the key market players to magnify their customer base and expand sales & distribution networks.

Years considered for this report:

Historical Years: 2014-2017

Base Year: 2018

Estimated Year: 2019

Forecast Period: 2020-2024

Objective of the Study:

• To analyze and forecast Europe truck platooning market size.
• To classify and forecast Europe truck platooning market based on platooning type, vehicle type, systems, sensor type and country.
• To identify drivers and challenges for Europe truck platooning market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Europe truck platooning market.
• To conduct pricing analysis for Europe truck platooning market.
• To identify and analyze the profile of leading players operating in Europe truck platooning market.

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Some of the leading players in Europe truck platooning market include AB Volvo, Daimler AG, Continental AG, Scania AB, Peloton Technology Inc., Navistar International Corporation, Bendix Commercial Vehicles Systems LLC, Delphi Automotive PLC, OTTO Technologies and Meritor Wabco.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of leading manufacturers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major players operating in truck platooning market in Europe.

TechSci Research calculated Europe truck platooning market size by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Truck platooning manufacturers, suppliers, distributors and other stakeholders
• Truck platooning component manufacturers
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to truck platooning market
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as truck platooning manufacturers, suppliers, distributors and other stakeholders. The report would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities.

Report Scope:

In this report, Europe truck platooning market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, by Platooning Type:
• Autonomous
• Driver Assisted
• Market, by Vehicle Type:
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Market, by Systems:
• Adaptive Cruise Control (ACC)
• Automated Emergency Braking (AEB)
• Blind Spot Warning (BSW)
• Forward Collision Warning (FCW)
• Lane Keep Assist (LKA)
• Others
• Market, by Sensor Type:
• Image
• RADAR
• LiDAR
• Market, by Country:
• Germany
• France
• Spain
• Italy
• United Kingdom
• Poland
• Netherlands

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Europe truck platooning market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]