According to a new report published by Transparency Market Research, the platooning trucks market will record significant growth owing to the rising demand for transport and logistics across the globe. The report titled, “Platooning Trucks Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026,” anticipates that the global market will grow remarkably during the forecast period.
The report anticipates that the continuous efforts by governments to reduce greenhouse emissions will drive the platooning trucks market. Platooning trucks are a set of vehicles that transit together and are in active co-ordination with each other. The trucks maintain a safe distance between each other by using various sensors and software. Platooning trucks run efficiently, thus reducing fuel consumption and emissions and are hence, expected to boost the market.
Rise in electrification of vehicles and development of connected vehicle technology are expected to fuel the demand for platooning trucks. Fleet operators lose out on considerable amount of essential time owing to the rule of maximum driving up to 11 hours. Platoon fleets are likely to take fewer halts and the drivers are expected to be able to log more hours, due to autonomous running of platooning trucks, thus boosting the revenues of fleet operators. Increasing competition among fleet operators and entry of major players such as Peloton Technology, Volvo Group, and Daimler AG in platooning trucks is expected to compel other operators to adopt platooning, thus expanding the market.
The report also discusses the major restraints of the platooning trucks market. The initial costing of platooning trucks is high, as autonomous vehicle technologies are in the nascent phase. Trucking industry needs to comply with cyber security and safety regulations for working of crucial Dedicated Short Range Communication (DSRC) and networks. Platooning trucks can be plied on roads that can support autonomous vehicle driving and hence, poor infrastructure in developing countries is likely to hamper the platooning trucks market.
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