Truck Platooning Systems Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Truck Platooning Systems Market in 2025 is estimated at USD 167.91 million. The global market size was more than USD 112.72 million in 2024 and is anticipated to grow at a CAGR of over 61.2%, reaching USD 55.94 billion revenue by 2037. North America is positioned to dominate, thanks to new tech adoption and favorable regulations for truck platooning.
The market is primarily driven by the growth in car accidents due to driver errors and growing intent on lowering the transportation operational cost. As per the statistics, the highest number of road accidents were reported on highways which was 35% followed by state highways in India. Due to the wide demand for automated technologies in these sectors, the truck platooning system demand is anticipated to grow in various industries such as transportation, logistics, road development, and the IT sector.
Moreover, with the increasing production of commercial vehicles and rising demand for enhanced driver systems in vehicles, these technologies are gaining huge recognition. As per the data, approximately 24 million units of heavy buses, light commercial vehicles, and trucks were produced globally in 2021. These systems allow more predictive driving of trucks at the same time it also enhances the safety & security of other people on the road. New trends in the road freight sectors are enabling truck fleets to get equipped with the latest and advanced technologies.
Truck Platooning Systems Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Concerns for Road Safety and Security – As the number of road accidents is increasing day by day the concerns regarding road safety and security are also increasing. The truck platooning system allows predictive driving in trucks and also allows road safety and security for both drivers as well people on the road. Young people are especially susceptible on the roads, and traffic accidents are the leading cause of death among children and adolescents (ages 5 to 29). 73% of all fatalities in traffic accidents include young males under the age of 25, who are more prone than females to be involved in crashes globally.
- Growing Focus on Reducing Transportation Operating Costs – Increasing demand for road safety among consumers and growing focus on reducing transportation operational costs is expected to drive the growth of this market in the forecast period.
- Growing Demand for Reduced CO2 Emission – The growing regulation on emission norms has pushed OEM and Tier 1 manufacturers to implement new technologies in heavy-duty vehicles. Additionally, various government authorities from various regions have implemented multiple regulations on CO2 emissions.
Challenges
- High Cost of Truck Platooning Systems – The truck platooning system is a high-cost technology that few people can afford. Therefore, this factor is projected to arise a limitation on the market growth in the forecast period.
- Lack of Infrastructure
- Environment Pollution
Truck Platooning Systems Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
61.2% |
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Base Year Market Size (2024) |
USD 112.72 million |
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Forecast Year Market Size (2037) |
USD 55.94 billion |
|
Regional Scope |
|
Truck Platooning Systems Segmentation
Technology (Acceleration & Braking Controller, GPS, Cellular & Wi-Fi Communication, DSRS Vehicle to Vehicle Communication)
In terms of technology, the GPS segment in the truck platooning systems market is poised to witness substantial growth by the end of 2037. These modules utilize GSM technology to locate vehicles efficiently. Similarly, each platoon of vehicles has installed GPS, RADAR, and cameras for quick response in circumstances that may prevent sudden accidents. A significant study conducted by Indiana University discovered that around 90% of accidents take place owing to human error. However, this technology can help in reducing the chances of accidents by helping the driver to take the correct decision at the correct time while driving.
Vehicle (Light Commercial, Heavy Commercial)
The heavy commercial segment is estimated to observe the highest share in the truck platooning systems market between 2025 – 2037 on the basis of vehicle segmentation in the truck platooning system landscape. Truck platooning systems are widely installed in heavy commercial vehicles to improve road efficiency, prevent drivers from road accidents, and make sure there’s faster delivery of goods.
Our in-depth analysis of the global market includes the following segments:
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Component |
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Technology |
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Vehicle |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Truck Platooning Systems Industry - Regional Synopsis
North American Market Forecast
The truck platooning systems market in North America is expected to observe the largest market value during the estimated period owing to the strong inclination towards the adoption of new technologies in the region. In addition, the development of favorable regulatory policies in the United States, and increasing investments in Truck Platooning Systems by market players are also projected to fuel market expansion. Besides, the transportation landscape plays a crucial role in operational logistics and trucks are one of a significant part of this sector in this region. In June 2018, FedEx, Volvo, and Carolina Turnpike Authority all together declared to test the platooning of Volvo trucks on the highway of North Carolina.
APAC Market Statistics
It is anticipated that the Asia Pacific truck platooning systems market would experience significant expansion during the forecast period. The growth of the regional industry can be attributed to the growing investments to launch full-scale truck platooning operations in the region. Moreover, increasing demand for efficient and safer transportation, the requirement to reduce fuel consumption and emissions, and advancement in technology are factors driving the expansion of the market in the region.
Top Featured Companies Dominating the Truck Platooning System Landscape
- Daimler AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Volvo Group
- Scania AB
- Paccar Company
- Peleton Technology
- Bendix Commercial Vehicles Systems LLC
- Clearpath Robotics, Inc.
- Continental AG
- WABCO Vehicle Control Systems LLC
- TRATON SE
Recent Developments
- TRATON SE announced the acquisition of its remaining stake in Navistar International Corp. for a total cash consideration of USD 3.7 billion for expanding its product portfolio.
- Volvo Group and FedEx began the testing of connected truck platooning technology in North Carolina to reduce fuel usage in autonomous and connected trucks by driving in convoys.
Author Credits: Sanya Mehra
- Report ID: 3874
- Published Date: Apr 23, 2025
- Report Format: PDF, PPT
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