Comprehensive Market Analysis on CNG Powertrain Market projected to reach USD 309.9 Billion by 2030 | CAGR of 18.1% | Forecast period 2023-2030, published by MarketDigits

CNG Powertrain Market Scope:
Market size value in 2023 - USD 81.9 Billion
Market size value in 2030 - USD 309.9 Billion
CAGR (2023-2030) - 18.1%
Forecast Period - 2023-2030
Segments Covered - Drive Type, Fuel Type, Vehicle Type & Region
Geographies Covered - North America, Europe, Asia Pacific, and Row
Sample of Companies Covered - AB Volvo, Cummins Inc., Ford Motor Company, FPT Industrial S.P.A., Honda Motor Company And Others.

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Browse in-depth TOC on "CNG Powertrain Market"
178-Tables
95-Figures
332-Pages

North America dominates the market for CNG Powertrain.
The Asia-Pacific region dominates the global CNG powertrain market, with China emerging as a key player in the adoption of CNG vehicles. China's commitment to reducing air pollution and dependence on imported oil has driven the rapid growth of the CNG market. The country has a well-established CNG infrastructure and a comprehensive network of refueling stations, supporting the increasing number of CNG-powered vehicles on its roads. India is another significant market in the region, where government initiatives and policies promoting CNG adoption in the transportation sector have gained traction.
In the Americas, particularly in North America, the United States leads the way in CNG powertrain adoption. The U.S. has a growing fleet of CNG vehicles, supported by an extensive network of refueling stations. The government's focus on reducing dependence on traditional fuels and promoting cleaner alternatives has spurred the expansion of the CNG market.
Furthermore, Latin American countries, such as Argentina and Brazil, show high growth potential in the CNG powertrain market. The availability of natural gas reserves, coupled with environmental concerns, is driving interest in CNG as a sustainable fuel option. These countries are expected to witness increased CNG infrastructure development and vehicle adoption in the coming years.

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Top Key Players Covered in the Report-
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, and Others.

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Recent Developments
May 2023, together with Cummins Inc., the California Natural Gas Vehicle Partnership (CNGVP) unveiled the first-ever 15-liter natural gas engine in a Class 8 truck chassis in North America, the Cummins X15N. The OEM said that field testing of the engine had started with important fleet partners and provided details about its ambitions to introduce the X15N engine to the market.

https://industrytoday.co.uk/market-research-industry-today/emerging-trends-and-innovations-for-the-cng-powertrain-market-projected-to-reach-usd-3099-billion-by-2030

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