Truck Platooning Market Size - By Component, By Vehicle, By Autonomous Level, By Communication Technology, Growth Forecast, 2025 – 2034

Truck Platooning Market Size

The global truck platooning market size was valued at USD 2.3 billion in 2024 and is estimated to register a CAGR of 21.9% between 2025 and 2034. Governments and regulatory bodies are increasingly providing support for truck platooning initiatives. This support includes research grants, incentives, and infrastructure development that fosters the deployment of advanced technologies.
 

Many regions are introducing laws and regulations to allow autonomous vehicle trials, and some are even creating special lanes or infrastructure to accommodate platooned trucks. This regulatory framework not only reduces the risk associated with technology but also incentivizes logistics companies to invest in platooning solutions, fostering faster adoption and expansion of the market.For instance, in September 2023, the UK government allocated USD 23 million to enhance the country's connected and automated mobility supply chain. These grants, part of the Centre for Connected and Autonomous Vehicles (CCAV) Commercializing Connected and Automated Mobility: Supply Chain competition, will support 43 British companies across 13 projects. The funding aims to help develop self-driving technologies, products, and services that are ready for the connected and automated mobility market.
 

Fuel efficiency and reducing carbon emissions are major factors driving the adoption of truck platooning. By traveling in close formation, trucks reduce air resistance and achieve better fuel efficiency. The reduction in fuel consumption leads to lower operating costs and decreased environmental impact. Governments worldwide are also pushing for greener transportation solutions by offering incentives for technology adoption and stricter emission regulations. This further accelerates the adoption of truck platooning, as businesses aim to comply with regulations and improve their environmental footprint while cutting costs.
 

Truck Platooning Market Trends

The development of advanced technologies such as autonomous driving, vehicle-to-vehicle communication (V2V) and advanced sensors have been key driver for truck platooning. The integration of technologies such as radar, lidar, and cameras enables vehicles to communicate with each other, allowing trucks to travel in close formation, thus reducing fuel consumption, improving efficiency, and enhancing safety.
 

With the continual advancement of machine learning and AI, platooning systems are becoming smarter, improving real-time decision-making and allowing for better coordination between trucks. These innovations are expected to reduce the cost of transportation and logistics operations, making truck platooning an attractive option for industry.
 

The successful implementation of truck platooning requires significant investment in infrastructure, including smart roads, communication networks, and enhanced traffic management systems. Not all regions are prepared to accommodate platooning systems, especially in rural or less developed areas. Additionally, roads and highways may need modifications to support automated vehicles safely, such as dedicated lanes or special traffic lights. The high cost and time required to build or upgrade such infrastructure present a significant challenge and could slow down the widespread deployment of truck platooning, particularly in countries with limited resources or slower technological adoption.
 

Truck Platooning Market Analysis

Based on communication technology, the market is divided into Vehicle to Vehicle (V to V), Vehicle to Everything (V to X), and Vehicle to Infrastructure (V to I). In 2024, the V to X segment held a market share of over 40% and is expected to cross USD 8 billion by 2034. Automotive V2X technology plays a critical role in enhancing communication between trucks and surrounding infrastructure, vehicles, and other entities in truck platooning. V2X facilitates real-time data exchange, allowing platooning trucks to communicate with traffic lights, road signs, and other vehicles, optimizing their movement.
 

This leads to improved coordination, reducing the chances of accidents, enhancing safety, and increasing platooning efficiency. By improving real-time awareness of road conditions and hazards, V2X enables platooned trucks to react faster, ensuring smoother and safer operations. This capability is essential for the broader adoption of truck platooning, as it addresses both logistical and safety concerns, fostering growth in the market.
 

Based on component, the truck platooning market is categorized into hardware, software, and services. The hardware segment held a market share of around 46% in 2024. The growth of the hardware component for truck platooning is largely driven by advancements in sensor technologies. Sensors such as LiDAR, radar, cameras, and ultrasonic sensors are crucial for enabling the communication and coordination between platooned trucks. These sensors allow trucks to detect obstacles, maintain proper distances, and navigate safely in close formation.
 

As sensor technologies improve in terms of accuracy, range, and affordability, they become more accessible for adoption in the platooning industry. The reduction in costs, coupled with improved performance, drives the demand for high-quality sensors in truck platooning systems, contributing to the growth of the hardware segment.
 

U.S. truck platooning market accounted for 80% of the revenue share in 2024, due to advancements in autonomous vehicle technologies. These developments, including improved AI algorithms, machine learning, and sensor technologies enable trucks to travel in coordinated groups with minimal human intervention. With autonomous trucks becoming more reliable and capable of handling complex road conditions, truck platooning systems are gaining traction in the U.S. market. The continuous enhancement of these technologies is driving increased adoption by fleet operators who seek to optimize fuel efficiency, reduce operational costs, and enhance safety, thereby fostering growth in the market.
 

The growing demand for more efficient logistics and freight transportation across Europe is a key driver for the truck platooning market. With the rise of e-commerce and the need for faster deliveries, fleet operators are under pressure to improve efficiency and reduce operational costs. Platooning offers a solution by optimizing fuel consumption through aerodynamics and reducing the need for drivers to manage individual vehicles, leading to lower labor costs.
 

Infrastructure development is a crucial factor in the growth of the truck platooning market in Asia Pacific. Countries such as Japan, South Korea, and China are investing in advanced road networks, including smart highways and traffic management systems, that support connected vehicle technologies.
 

These developments, such as Vehicle-to-Everything (V2X) communication systems, enhance the feasibility and efficiency of platooning operations by ensuring that trucks can communicate with each other and infrastructure in real time. As more regions in Asia Pacific upgrade their road infrastructure to support autonomous and connected vehicle systems, the market is projected to see rapid growth.
 

Truck Platooning Market Share

Bosch and Continental hold a market share of around 15% in the truck platooning industry. Bosch is focusing on developing cutting-edge sensors, including radar, cameras, and LiDAR, which are crucial for enabling safe and efficient platooning operations. Their emphasis on connectivity solutions, such as vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, ensures seamless data exchange between trucks and surrounding infrastructure, improving safety and operational efficiency. Bosch is also collaborating with truck manufacturers, fleet operators, and governments to facilitate the successful deployment of platooning systems.
 

Continental is strengthening its position by offering a comprehensive portfolio, including advanced radar systems, braking technologies, and tire solutions. The company is investing heavily in electronic braking systems (EBS) and V2X communication to enhance real-time coordination between platooned trucks. Through strategic partnerships and continuous innovation, both companies aim to drive the growth and adoption of truck platooning technologies.
 

Truck Platooning Market Companies

Major players operating in the truck platooning industry include:

• AB Volvo
• Bendix
• Bosch
• Continental
• Daimler
• NVIDIA
• Omnitracs
• Peloton
• Scania
• ZF Friedrichshafen
   

Truck Platooning Industry News

• In August 2024, U.S. DOT launched framework to deploy vehicle-to-everything technology nationwide. The goal of V2X technology is for vehicles to communicate with other vehicles, drivers, pedestrians and their surroundings. 
   
• In May 2023, EASE Logistics & Ohio launched America’s first automated truck platooning system. In line with its vision to pioneer innovative supply chain solutions, EASE Logistics is putting this technology into action across 32 counties in Ohio’s Eastern and Southern rural regions.
   

The truck platooning market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue ($Bn) from 2021 to 2034, for the following segments:

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Market, By Component

• Hardware
  • Sensors
  • Detection systems
  • Camera
  • Others
• Software
• Services

Market, By Vehicle

• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

Market, By Autonomous Level

• Partially-autonomous
• Fully autonomous

Market, By Communication Technology

• Vehicle to Vehicle (V to V)
• Vehicle to Everything (V to X)
• Vehicle to Infrastructure (V to I)

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia 
• South America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia