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 Market Size

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Market Snapshot
Study Period 2019 - 2029
Market Size (2024) USD 0.66 Billion
Market Size (2029) USD 1.79 Billion
CAGR (2024 - 2029) 22.25 %
Fastest Growing Market Europe
Largest Market North America

Major Players

Truck Platooning Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Truck Platooning Market Analysis

The Truck Platooning Market size is estimated at USD 0.66 billion in 2024, and is expected to reach USD 1.79 billion by 2029, growing at a CAGR of 22.25% during the forecast period (2024-2029).

Over the long term, the rise in the number of road accidents due to driver errors and increasing focus on reducing transportation operating costs are expected to fuel the demand in the truck platooning market. Truck platooning is expected to increase the demand in sectors such as road development, transportation, logistics, and information technology because of the rise in demand for automated technologies. The rising adoption of the Internet of Things (IoT) is another factor that will help the growth of the market over the forecast period. Moreover, governments worldwide are strategizing to implement guidelines to regulate the truck platooning industry, which is expected to positively contribute to the growth of the truck platooning market.

  • Indiana and New York authorities in the United States proposed legislation to regulate the truck platooning industry. Indiana law authorizes automated vehicle platooning to operate “at speeds and following distances that are faster and closer than would be reasonable and prudent without electronic coordination.”. The New York state law has no requirements for large vehicles to have a human in the cab capable of taking control of the vehicle in case of emergency.

The market faces challenges due to the high costs associated with the adoption and implementation of the currently available technology. Truck platooning is a costly affair especially due to the high-end communication technology and infrastructure that are required to sustain this industry. However, the market is expected to witness steady growth due to the aggressive focus by the government to lower carbon emissions by reducing air-drag friction. 

North America is expected to lead the truck platooning market globally, owing to the rapidly evolving autonomous vehicle technology and the growing concerns over safety in road transportation in the region. The European market is also projected to account for a significant revenue share in the truck platooning market, becoming the fastest-growing market during the forecast period.

Truck Platooning Market Trends

Adaptive Cruise Control Segment to Gain Traction during the Forecast Period

Adaptive cruise control (ACC) is projected to be the fastest-growing segment of the truck platooning market. Cruise control automatically assists in maintaining an optimal truck speed without manual intervention, which, in turn, positively impacts the growth of this segment. Various project initiatives by Soft Bank and authorities in Canada, among others, are being lined up to test the efficacy of truck platooning technology. Both government authorities and private players are investing hefty sums to implement truck platooning in their countries, contributing to the surging demand for adaptive cruise control.

Moreover, the growing number of traffic fatalities due to human error are being detected worldwide, leading to authorities implementing strict rules and regulations. The recent advancements in truck platooning technology are assisting in automating the cargo transportation process in the logistics industry, leading to little tominorvolvement of drivers, thus limiting the impact of human errors. Truck platooning technology enables truck movement through V2V infrastructure and other advanced technologies, such as Adaptive Cruise Control. Therefore, the entire process assists in minimizing any fatalities arising from human error.

  • According to the Organization for Economic Cooperation and Development (OECD), the number of road traffic fatalities in Germany stood at 2,788 2022 compared to 2,562 in 2021, representing a Y-o-Y growth of 8.8% between 2021 and 2022. Similarly, the number of road traffic fatalities in Greece touched 640 in 2022 compared to 624 in 2021.
  • According to the Indian Ministry of Road Transport and Highways, the number of deaths due to road accidents touched 168.49 thousand in 2022 compared to 153.97 thousand in 2021, recording a Y-o-Y growth of 9.4% between 2021 and 2022.

With the rapid enhancement in autonomous truck platooning technology, which does not require driver intervention, technological solutions such as adaptive cruise control have become necessary for its incorporation in these vehicles. Since there is a requirement to maintain an optimal distance between manned trucks and lead trucks, automakers are widely preferring the the integration of adaptive cruise control technologies, which is expected to foster the growth of this segment in the coming years.

Truck Platooning Market_keytrend1

Europe is Expected to become the Fastest Growing Market during the Forecast Period

Developed regions, like Europe, are heavily investing in truck platooning technology to enhance the cargo transportation movement and help reduce turn-around time in the logistics industry. The European Commission is launching several projects, such as the SARTRE Project (Safe Road Trains for the Environment), to investigate the role of platooning technology in reducing traffic jams and revolutionizing the logistics industry. Although the truck platooning market is still in its nascent phase, with several truck manufacturers, such as Volvo, increasingly preferring to develop truck platooning technology to participate in pilot technology, the European market is expected to showcase rapid growth in the coming years.

Further, rapid technological advancement coupled with the increasing investment by central government authorities and private players, among others, to deploy platooning solutions in the European region is fostering the demand for this segment. Furthermore, the stringent government regulations and rules implemented to decarbonize the transportation sector have also led to advancements in truck platooning technology. Advancements in IoT, V2V infrastructure, and the shifting preference towards automated transportation solutions are further contributing to the surging growth of this segment. 

  • The European Parliament adopted the European Climate Law, raising the European Union's target of reducing net greenhouse gas emissions by at least 55% by 2030 and legally achieving climate neutrality by 2050.
  • Further, according to the European Automobile Manufacturers Association (ACEA), truck platooning helps reduce 16% of Co2 emissions from trailing vehicles while ensuring the reduction of 8% of Co2 emissions from lead vehicles.

Although truck platooning is being majorly adopted in developed European regions, countries such as Canada and the United States in North America are also actively focusing on implementing this solution. Research and investment in truck platooning technology in Asian countries are still nascent. The growing road freight sector, coupled with the increasing cross-border trade activity, is further expected to contribute to the surging growth of the truck platooning market in the European region during the forecast period.

Truck Platooning Market_keytrend2

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.

Truck Platooning Market Leaders

  1. Peloton Technology

  2. Daimler Truck AG

  3. AB Volvo

  4. Paccar Inc (DAF Trucks)

  5. Volkswagen Group (MAN, Scania)

*Disclaimer: Major Players sorted in no particular order

Truck Platooning Market Concentration
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Truck Platooning Market News

  • In December 2023, Softbank announced its partnership with West Japan Railway Company to research 5G-enabled Vehicle-to-Vehicle (V2V) technology for a Bus Rapid Transit (BRT) system and truck platooning on Japanese highways. The research aims to enhance the country's logistics sector by facilitating advanced communication technology while assisting in addressing the issue of driver shortages. 
  • In July 2023, FPInnovations announced its collaboration with Robotic Research Autonomous Industries (RRAI) to adapt its self-driving technology to the off-highway forestry sector. Further, the company stated that it had completed the initial tests for its off-highway truck platooning project to address the issue of lower-qualified drivers in Canada's forestry sector. Société du Plan Nord and Natural Resources Canada funded nearly USD 1 million to implement this project in partnership with the authorities in Matagami, Que.
  • In March 2023, Ohmio, a leading autonomous mobility company based in New Zealand, announced its collaboration with the Port Authority of New York and New Jersey to host a three-vehicle platooning demonstration at John F. Kennedy International Airport in the United States. The demonstration witnessed the deployment of eight driverless passenger shuttles in a platoon of three unconnected vehicles.

Truck Platooning Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

      1. 4.1.1 Governments' Aggressive Push Towards Lowering Fuel Consumption and Co2 Emission of Vehicles to Foster the Growth of the Market

    2. 4.2 Market Restraints

      1. 4.2.1 High Cost of Platooning Technology Deters Market Growth

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size in Value - USD)

    1. 5.1 By Platooning Type

      1. 5.1.1 Driver-Assistive Truck Platooning (DATP)

      2. 5.1.2 Autonomous Truck Platooning

    2. 5.2 By Technology Type

      1. 5.2.1 Adaptive Cruise Control

      2. 5.2.2 Forward Collision Warning

      3. 5.2.3 Automated Emergency Braking

      4. 5.2.4 Active Brake Assist

      5. 5.2.5 Lane Keep Assist

      6. 5.2.6 Others (Blind Spot Warning, etc.)

    3. 5.3 By Infrastructure Type

      1. 5.3.1 Vehicle-to-Vehicle (V2V)

      2. 5.3.2 Vehicle-to-Infrastructure (V2I)

      3. 5.3.3 Global Positioning System (GPS)

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Rest of North America

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Spain

        5. Rest of Europe

      3. 5.4.3 Asia Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia Pacific

      4. 5.4.4 Rest of the World

        1. South America

        2. Middle East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Peloton Technology

      2. 6.2.2 Daimler Truck AG

      3. 6.2.3 AB Volvo

      4. 6.2.4 Paccar Inc (DAF Trucks)

      5. 6.2.5 Volkswagen Group (MAN, Scania)

      6. 6.2.6 Toyota Motor Corporation (Toyota Tsusho)

      7. 6.2.7 Hyundai Motor Company

      8. 6.2.8 NXP Semiconductors N.V.

      9. 6.2.9 Wabco Holdings Inc.

      10. 6.2.10 Knorr-Bremse AG

      11. 6.2.11 Continental AG

      12. 6.2.12 Robert Bosch GmbH

      13. 6.2.13 ZF Friedrichshafen

      14. 6.2.14 Iveco S.p.A.


    1. 7.1 Rapid Enhancement in Developing High-End Communication Networks and Infrastructure Fuels the Market Demand


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Truck Platooning Industry Segmentation

Truck platooning refers to the linking of two or more trucks in a convoy using automated driving assistance systems and connectivity solutions between the vehicles. The vehicles in truck platooning maintain a close distance between them when they are connected for a certain part of the journey on roadways.

The truck platooning market is segmented by platooning type, technology type, infrastructure type, and geography. By platooning type, the market is segmented into driver-assistance truck platooning (DATP) and autonomous truck platooning. By technology type, the market is segmented into adaptive cruise control, forward collision warning, automated emergency braking, active brake assist, lane keep assist, and others (blind spot warning, etc.). By infrastructure type, the market is segmented into vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and global positioning system (GPS). By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. 

The report offers market size and forecasts for the truck platooning in value (USD) for all the above segments.

By Platooning Type
Driver-Assistive Truck Platooning (DATP)
Autonomous Truck Platooning
By Technology Type
Adaptive Cruise Control
Forward Collision Warning
Automated Emergency Braking
Active Brake Assist
Lane Keep Assist
Others (Blind Spot Warning, etc.)
By Infrastructure Type
Vehicle-to-Vehicle (V2V)
Vehicle-to-Infrastructure (V2I)
Global Positioning System (GPS)
By Geography
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Asia Pacific
South Korea
Rest of Asia Pacific
Rest of the World
South America
Middle East and Africa
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Truck Platooning Market Research FAQs

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.

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

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.

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

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

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.

Truck Platooning Industry Report

Statistics for the 2024 Truck Platooning market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Truck Platooning analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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