Key Competitors - Truck Platooning industry

Truck platooning is a technology that uses automated driving assistance systems and networking technologies to make it possible for two or more trucks to move in a convoy in a secure and effective way. A platoon's leading vehicle directs traffic and manages the convoy's other vehicles' speeds. All other cars in the convoy receive a signal as soon as the vehicle in front slows down or stops. The sector is being driven by increased environmental pollution, more worries about road safety, and a focus on affordable transportation options. The main factors propelling this region's growth are rising EV sales, greater demand for autonomous and intelligent transportation, and increased investments in automotive R&D.

A number of nations have implemented regulations to limit the harmful gas emissions from automobiles. Trucks are the major source of greenhouse gas emissions in the transportation industry, which makes a considerable contribution to global pollution. The application of truck platooning technology in this region may be limited as a result of the production of such harmful fumes. Truck platooning technology is being employed more frequently globally as a result of stringent government regulations, which is expected to fuel market growth in the near future. During the projected period, the global truck platooning market is expected to develop due to the decrease in fuel consumption brought on by the deployment of truck platooning technology.

The global Truck platooning market is anticipated to expand at a compound annual growth rate (CAGR) of 30.1% between 2023 and 2030. 

Prominent Companies in the Truck Platooning industry:

1. AB Volvo

AB Volvo is a Swedish multinational manufacturing corporation. It was founded in 1927 and headquartered in Gothenburg, Sweden. It operates in 18 countries. In June 2018, as part of an ongoing research relationship, Volvo Trucks North America, FedEx, and the North Carolina Turnpike Authority tested on-highway truck platooning.

2. Scania AB

Scania AB is a major Swedish manufacturer, founded in 1911 and headquartered in Södertälje, Sweden. It operates in more than 100 countries. In March 2018, Scania started automating platooning gradually. A key part of the future's sustainable transportation system will be platooning with increasingly autonomous vehicles and technologies. There has already been progress accomplished in little steps.

3. Continental AG

Continental AG is a German multinational automotive parts manufacturing company specializing in tires, brake systems vehicle electronics etc. It was founded in 1871 and headquartered in Hanover, Germany. It operates in 57 countries. In July 2019, Continental and Knorr-Bremse will advance their collaboration in the development of highly automated commercial vehicle driving in a new way. For automated platooning (i.e., driving in a column), the engineering firm from Hannover and the global market leader for braking systems, as well as the top supplier of rail and commercial vehicle subsystems, have teamed up to develop the Platooning Demonstrator, which is based on a platoon of three tru On testing grounds, the initial test runs and customer demos have already occurred.

4. Peloton Technology

Peloton Technology was an American automated and connected vehicle technology company, founded in 2011 and headquartered in California, U.S. It operates in more than 50 countries. Trucking in August 2022 still has a bright future thanks to platooning. A near-term market case for autonomous and semi-autonomous technology can be made by pairing manned lead vehicles with driverless pursuing vehicles. 

5. Daimler AG

Daimler AG, was previously named Daimler-Benz, DaimlerChrysler and Daimler now, the Mercedes-Benz Group AG  was founded in 1926 and headquartered in Stuttgart, Germany. It operates in nearly every country of the world. According to Daimler, there is 'no business case' for truck platooning as of January 2019.

*Definition: 

Truck platooning is when trucks travel together connected by a computer system. The system communicates with the trucks to align speed, acceleration and braking. Drivers steer, watch the system, and intervene when needed.