Press release
Compressed Natural Gas (CNG) Truck Market | Business Growth, Development Factors, Current and Future Trends till 2031 | Navistar International Corp. Oshkosh Corporation Peterbilt Motors Co.
CNG truck market is anticipated to grow at a considerable CAGR of 5.0% during the forecast period (2023-2030). The growth of the market is attributed to factors such as the increasing adoption of eco-friendly transportation solutions and the need to reduce carbon emissions. Moreover, the demand for CNG trucks is expected to rise in various end-user industries, including transport, construction, mining, and agriculture, which will fuel the market growth. For instance, the mining sector is witnessing a surge in the adoption of CNG trucks due to their lower emissions and cost-effective fuel options. In addition, turbocharged engines are preferred in CNG trucks owing to their ability to enhance power, efficiency, and performance. The turbocharger increases air pressure, improving fuel combustion and reducing consumption. This technology enables CNG engines to maintain performance at high altitudes and reduces emissions, making them environmentally friendly. For instance, in June 2022, Ashok Leyland launched the ecomet STAR 1115 CNG truck, which is equipped with a 144 HP turbocharged engine and has a cylinder capacity ranging from 300 to 400 litres. The truck has a gross vehicle weight of 11,500 kg and offers a wide variety of load options ranging between 17-22 feet. The CNG cylinder capacity of the truck is between 300 to 400 litres.Get Free Sample link @ https://www.omrglobal.com/request-sample/cng-truck-market
The global CNG truck market is segmented based on its type, application, technology, and end-user industry. The market is categorized into special fuel and dual fuel based on its type. For application, the market is further segmented into light-duty vehicle, medium-duty vehicle, and heavy-duty vehicle. In terms of technology, the market is divided into manual, semi-automatic, and automatic options. Moreover, based on the end-user industry, the market is segmented into transport, construction, mining, and agriculture.
full report of Compressed Natural Gas (CNG) Truck Market available @ https://www.omrglobal.com/industry-reports/cng-truck-market
• Market Coverage
• Market number available for - 2024-2030
• Base year- 2023
• Forecast period- 2024-2030
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others
Global Compressed Natural Gas (CNG) Truck Market Report Segment
By Type
• Special Fuel
• Dual Fuel
By Application
• Light-Duty Vehicle
• Medium-Duty Vehicle
• Heavy-Duty Vehicle
By Technology
• Manual
• Semi-Automatic
• Automatic
By End-User Industry
• Transport
• Construction
• Mining
• Agriculture
Global Compressed Natural Gas (CNG)Truck Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global CNG trucks market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/cng-truck-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
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