Japan Truck Platooning Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 27.6% from 2023 to 2033
• The Japan Truck Platooning Market Size is Expected to Hold a Significant Share by 2033

The Japan Truck Platooning Market Size is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 27.6% from 2023 to 2033.

Market Overview

Truck platooning is a new technology that allows trucks to communicate and drive closely together, which decreases air resistance and improves efficiency and fuel efficiency. Connected vehicle technology and production systems enable trucks to closely follow each other by communicating through V2V infrastructure and other means. As a result, trucks are constantly communicating and syncing their travel plans with nearby trucks. Truck platooning is an innovative approach that involves aligning multiple vehicles closely on a highway to enhance road safety, reduce fuel usage, and enhance performance; businesses are using connected vehicle technology and automation to realize these benefits. In a truck platoon, the lead truck guides the other trucks in the group by setting the pace and movements for them to follow. Drivers following the main vehicle in a convoy can choose to join or leave the group at any point during the movement and proceed on their own. Independence is a significant long-term trend in the automotive and transportation industry. Likewise, the trucking sector has seen a steady increase in the adoption of autonomous technology in the last ten years. Since platooning requires a high degree of self-sufficiency for effective functioning, the expected increase in market growth in the trucking industry during the forecast period is attributed to the adoption of autonomous trucks.

Report Coverage

This research report categorizes the market for the Japan truck platooning market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan truck platooning market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan truck platooning market.

Driving Factors

The market growth is being driven by the rising demand for road safety. Trucks used for logistics and transportation transport a large amount of cargo. As a result, the growing frequency of accidents involving large trucks has driven the need for increased road safety measures. The trucking sector is constantly striving to enhance the efficiency of truck fleets in order to make long-distance deliveries cost-effective. Platooning enhances transportation by efficiently using roads, helping logistics companies speed up the delivery of goods. Moreover, efficient road use also decreases congestion. By utilizing platooning technology, trucks are able to create road trains by traveling closely in a line, which leads to a decrease in air resistance on the trucks and ultimately improves fuel efficiency.

Restraining Factors

The adoption of high hardware, technology, and operating costs is being held back in developing and underdeveloped economies. Furthermore, truck platooning necessitates trucks to have a high level of automation.

Market Segmentation

The Japan truck platooning market share is classified into technology and infrastructure types.

• The adaptive cruise control (ACC) segment is expected to hold the largest market share through the forecast period.   

The Japan truck platooning market is segmented by technology into adaptive cruise control (ACC), blind spot warning (BSW), forward collision warning (FCW), lane keep assistance (LKA), autonomous emergency braking (AEB), and others. Among them, the adaptive cruise control (ACC) segment is expected to hold the largest market share through the forecast period. Platooning relies on adaptive cruise control and collision avoidance systems that are readily available in the market for successful functioning. Hence, there is a growing demand for adaptive cruise control among grouped trucks. Adaptive cruise control changes the speed of the car to match the speed of the vehicle in front. Hence, the expected increase in the segment's growth is driven by the growing need for precise speed synchronization among the platooned trucks.

• The vehicle-to-vehicle (V2V) segment dominates the market with the largest market share over the predicted period.

The Japan truck platooning market is segmented by infrastructure type into vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and others. Among them, the vehicle-to-vehicle (V2V) segment dominates the market with the largest market share over the predicted period. Platooned trucks utilize Wi-Fi connection, V2V communication, radar, and additional sensors to effectively communicate within the fleet. As the need for efficient communication between groups of trucks grows, V2V communication also grows. Primary stakeholders were dedicated to enhancing the scope of V2V connectivity for extended communication. Hence, increasing R&D funding in V2V communication technology will speed up market expansion throughout the projected timeframe.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan truck platooning market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• AB Volvo
• Daimler
• Scania
• Peloton Technology
• Continental AG
• Volkswagen AG
• Wabco
• Navistar, Inc.
• MAN (Germany)
• ZF Friedrichshafen AG
• Bendix Commercial Vehicles Systems LLC
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2023, TuSimple, a global company focused on self-driving technology, started testing their level 4 autonomous cars. The test run began in Japan's crucial freight corridor. The transportation route links important cities in Japan such as Nagoya, Osaka, and Tokyo.

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Truck Platooning Market based on the below-mentioned segments:

Japan Truck Platooning Market, By Technology

• Adaptive Cruise Control (ACC
• Blind Spot Warning (BSW)
• Forward Collision Warning (FCW)
• Lane Keep Assistance (LKA)
• Autonomous Emergency Braking (AEB)
• Others

Japan Truck Platooning Market, By Infrastructure Type

• Vehicle-to-Vehicle (V2V)
• Vehicle-to-Infrastructure (V2I)
• Others