CNG Powertrain Market Growth, Size, Trends, Demand, Revenue, Challenges and Future Outlook
CNG Powertrain Market Size- By Drive Type, By Fuel Type, By Vehicle Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Sep-2023 | Report ID: AMIN23142 | Pages: 1 - 224 | Formats*: |
| Category : Automotive & Transportation | |||
CNG Powertrain Market Introduction and Overview
According to SPER Market Research, the Global CNG Powertrain Market is estimated to reach USD 501.32 billion by 2033 with a CAGR of 17.81%.
The report includes an in-depth analysis of the Global CNG Powertrain Market, including market size and trends, product mix, distribution channels, and supplier analysis. A CNG powertrain operates using compressed natural gas (CNG) instead of conventional gasoline or diesel fuel. CNG combustion is cleaner, emitting fewer harmful gases compared to petrol and diesel. Essentially, a CNG powertrain functions similarly to a regular internal combustion engine running on gasoline. While there are some additional components in a CNG powertrain, the basic combustion process remains unchanged. Power generation involves mixing the fuel with air and igniting it within the cylinder. The key difference lies in the need for a specialized, high-pressure tank to store the compressed gas, unlike conventional fuel tanks.
- January 2023: Two CNG powertrain options were introduced by Maruti Suzuki for the Grand Vitara SUV.
- June 2023: Due to the drop in CNG's pricing, Tata Motors increases its manufacturing of CNG-based models.
Market Opportunities and Challenges
Opportunities: The development of more efficient engines for CNG powertrains is a top priority for the industry. By lowering the volumetric efficiency loss, speeding up flame spread, and lowering petrol evaporation from the engine, they are making an investment in enhancing the engine's performance. Leading automakers are also equipping their CNG vehicles with cutting-edge technology. To improve fuel efficiency, S-CNG technology, for instance, is applied to passenger cars. To do this, the fuel-to-air ratio is altered, and the electric control units are synced with the intelligent fuel injection system.
Challenges: Due to the extra components required for CNG and LPG vehicles, their powertrains are often more expensive than those of standard petrol vehicles. Because most of these cars lack lubrication, they require more frequent maintenance, which over time increases the cost because some parts degrade more quickly than in gasoline-powered cars. The parts also need to be replaced more frequently than those in gasoline-powered cars, whose lifespan is usually longer. For instance, fleet owners who travel regularly for work might choose CNG. The cost-effectiveness of CNG and LPG vehicles depends on how frequently they are used.
Market Competitive Landscape
The market exhibits a moderate level of fragmentation, with several major players, including AB Volvo, Cummins Inc., Ford Motor Company, FPT Industrial S.P.A., Honda Motor Company, Hyundai Motor Company, Maruti Suzuki India Limited, Nissan Motor Co., Ltd., Robert Bosch GmbH., Volkswagen AG, Others. Leading companies are using tactics including collaborations, mergers and acquisitions, and expansion to increase their market share across multiple geographies. For the majority of market incumbents, organic expansion continues to be their primary strategy. In order to obtain a competitive edge in the industry, C.N.G. powertrain manufacturers are concentrating on improving their current product offers and brand awareness.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Drive Type, By Fuel Type, By Vehicle Type |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | AB Volvo, Cummins Inc., Ford Motor Company, FPT Industrial S.P.A., Honda Motor Company, Hyundai Motor Company, Maruti Suzuki India Limited, Nissan Motor Co., Ltd., Robert Bosch GmbH., Volkswagen AG, Others |
COVID-19 Impact on Global CNG Powertrain Market
The COVID-19 pandemic caused a global economic slowdown, impacting various sectors, including the CNG Powertrain market, which closely correlates with the automotive industry's growth. In early 2020, lockdowns and supply chain disruptions affected major economies, particularly China and Japan, key players in passenger car production, leading to production cutbacks. Consumer preferences shifted significantly, resulting in dissatisfactory FY-20 passenger car sales worldwide. Production plant closures and reduced workforce due to social distancing measures further hindered vehicle manufacturing. Additionally, supply chain disruptions made it challenging to procure raw materials, while rising inflation increased production costs.
Key Target Audience:
- Commercial Trucking Companies
- Energy and Sustainability Managers
- Fleet Owners and Operators
- Fueling Station Developers
- Municipalities and Government Agencies
- Natural Gas Suppliers
- Taxi and Ride-Sharing Services
- Vehicle Manufacturers
- Others
Our in-depth analysis of the CNG Powertrain Market includes the following segments:
| By Drive Type: |
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| By Fuel Type: |
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| By Vehicle Type: |
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Key Topics Covered in the Report:
- Global CNG Powertrain Market Size (FY’2023-FY’2033)
- Overview of Global CNG Powertrain Market
- Segmentation of Global CNG Powertrain Market By Drive Type (All-Wheel Drive, Front Wheel Drive, Rear Wheel Drive)
- Segmentation of Global CNG Powertrain Market By Fuel Type (Bi-fuel, Mono Fuel)
- Segmentation of Global CNG Powertrain Market By Vehicle Type (Commercial Vehicle, Passenger Vehicle)
- Statistical Snap of Global CNG Powertrain Market
- Expansion Analysis of Global CNG Powertrain Market
- Problems and Obstacles in Global CNG Powertrain Market
- Competitive Landscape in the Global CNG Powertrain Market
- Impact of COVID-19 and Demonetization on Global CNG Powertrain Market
- Details on Current Investment in Global CNG Powertrain Market
- Competitive Analysis of Global CNG Powertrain Market
- Prominent Players in the Global CNG Powertrain Market
- SWOT Analysis of Global CNG Powertrain Market
- Global CNG Powertrain Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global CNG Powertrain Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global CNG Powertrain Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global CNG Powertrain Market
7. Global CNG Powertrain Market, By Drive Type (USD Million)
7.1. Global CNG Powertrain Market Value Share and Forecast, By Drive Type, 2023-20337.2. All-Wheel Drive7.3. Front Wheel Drive7.4. Rear Wheel Drive
8. Global CNG Powertrain Market, By Fuel Type (USD Million)
8.1. Global CNG Powertrain Market Value Share and Forecast, By Fuel Type, 2023-20338.2. Bi-fuel8.3. Mono Fuel
9. Global CNG Powertrain Market, By Vehicle Type (USD Million)
9.1. Global CNG Powertrain Market Value Share and Forecast, By Vehicle Type, 2023-20339.2. Commercial Vehicle9.3. Passenger Vehicle
10. Global CNG Powertrain Market Forecast, 2019-2033 (USD Million)
10.1. Global CNG Powertrain Market Size and Market Share
11. Global CNG Powertrain Market, By Drive Type, 2019-2033 (USD Million)
11.1. Global CNG Powertrain Market Size and Market Share By Drive Type (2019-2026)11.2. Global CNG Powertrain Market Size and Market Share By Drive Type (2027-2033)
12. Global CNG Powertrain Market, By Fuel Type, 2019-2033 (USD Million)
12.1. Global CNG Powertrain Market Size and Market Share By Fuel Type (2019-2026)12.2. Global CNG Powertrain Market Size and Market Share By Fuel Type (2027-2033)
13. Global CNG Powertrain Market, By Vehicle Type, 2019-2033 (USD Million)
13.1. Global CNG Powertrain Market Size and Market Share By Vehicle Type (2019-2026)13.2. Global CNG Powertrain Market Size and Market Share By Vehicle Type (2027-2033)
14. Global CNG Powertrain Market, By Region, 2019-2033 (USD Million)
14.1. Global CNG Powertrain Market Size and Market Share By Region (2019-2026)14.2. Global CNG Powertrain Market Size and Market Share By Region (2027-2033)14.3. Asia-Pacific14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific14.4. Europe14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe14.5. Middle East and Africa14.5.1. Kingdom of Saudi Arabia14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa14.6. North America14.6.1. Canada14.6.2. Mexico14.6.3. United States14.7. Latin America14.7.1. Argentina14.7.2. Brazil14.7.3. Rest of Latin America
15. Company Profile
15.1. AB Volvo15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments15.2. Cummins Inc.15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments15.3. Ford Motor Company15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments15.4. FPT Industrial S.P.A.15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments15.5. Honda Motor Company15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments15.6. Hyundai Motor Company15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments15.7. Maruti Suzuki India Limited15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments15.8. Nissan Motor Co., Ltd.15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments15.9. Robert Bosch GmbH15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments15.10. Volkswagen AG15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The North America region is anticipated to have the highest market share in CNG Powertrain Market.
The key players in the market include Companies Covered AB Volvo, Cummins Inc., Ford Motor Company, FPT Industrial S.P.A., Honda Motor Company, Hyundai Motor Company, Maruti Suzuki India Limited, Nissan Motor Co., Ltd., Robert Bosch GmbH., Volkswagen AG, Others
While there are some additional components in a CNG powertrain, the basic combustion process remains unchanged. Power generation involves mixing the fuel with air and igniting it within the cylinder.
CNG Powertrain Market is projected to reach USD 501.32 billion by 2033, growing at a CAGR of 17.81% during the forecast period.
CNG Powertrain Market grew in market size from 2023. The Market is expected to reach USD 501.32 billion by 2033, at a CAGR of 17.81% during the forecast period.
CNG Powertrain Market CAGR of 17.81% during the forecast period.
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CNG Powertrain Market size is USD 501.32 billion from 2023 to 2033.
CNG Powertrain Market Segment is Covered By Drive Type, By Fuel Type, By Vehicle Type
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