Press release
Growing Demand For Cleaner Fuels Propels CNG Powertrain Market Growth: An Emerging Driver Transforming The CNG Powertrain Market Landscape
CNG Powertrain
What Is the Projected Growth of the CNG Powertrain Market?
The CNG Powertrain Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the CNG Powertrain Market?
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What Are the Different CNG Powertrain Market Segments?
The CNG powertrain market covered in this report is segmented -
1) By Drive: Front Wheel Drive, All-Wheel Drive, Rear Wheel Drive
2) By Fuel: Mono Fuel, Bi fuel
3) By Vehicle: Commercial Vehicle, Passenger Vehicle
Subsegments:
1) By Front Wheel Drive (FWD): Conventional FWD Systems, Advanced FWD Systems With Enhanced Efficiency
2) By All-Wheel Drive (AWD): Full-Time AWD Systems, Part-Time AWD Systems, Adaptive AWD Technologies
3) By Rear Wheel Drive (RWD): Conventional RWD Systems, Performance-Oriented RWD Systems
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What Are the Primary Drivers Shaping the CNG Powertrain Market?
The surge in demand for alternative cleaner fuels plays a significant role in propelling the CNG powertrain market. Such alternative fuels, produced entirely or partially from non-petroleum sources, cause less environmental harm than conventional fuels. CNG powertrain relies on these alternative fuels like CNG, leading to reduced carbon emissions and particle-free utilization - crucial for curbing air pollution. As an example, the Energy Information Administration, a US-based department of energy statistical agency, reported in January 2023 that the daily usage of natural gas in the United States reached a record peak of 141.0 billion cubic feet (Bcf) in 2023. Further, the power sector's natural gas consumption saw a rise of 45% in December 2022. Hence, the booming demand for alternative cleaner fuels is a key driver of the CNG powertrain market.
Which Companies Are Leading in the CNG Powertrain Market?
Major companies operating in the CNG powertrain market include Volkswagen AG, Ford Motor Company, Honda Motor Company, Hyundai Motor Company, Robert Bosch GmbH, Nissan Motor Co. Ltd., The Volvo Group, Cummins Inc., Tata Motors Limited, Maruti Suzuki India Limited, Worthington Industries Inc., Chart Industries Inc., Minda Industries Ltd., Clean Energy Fuels Corp., FPT Industrial S.p.A., Landi Renzo S.p.A, Agility Fuel Solutions, Westport Fuel Systems Inc., ANGI Energy Systems Inc., Delta Fuel Company, Viatec Incorporated, Cenergy Solutions Inc., Mijo Auto Gas Pvt. Ltd., Corban Energy Group Corp., Altech-Eco Corporation, NGV Motori Inc., American Power Group, Greenkraft Inc., Nat G CNG Solutions
What Are the Major Trends Shaping the CNG Powertrain Market?
The primary trend emerging in the CNG powertrain industry is technological innovation. Major players in the market are centering their efforts on enhancing the performance of their latest products' engines. For instance, US Hybrid, a prominent American manufacturer of power conversion and powertrain systems, debuted a novel parallel hybrid powertrain technology running on natural gas in May 2022. This technology, which is set to be used in drayage and long-haul trucks, presents lower emissions compared to previous models and elevates power beyond that of other CNG or diesel powertrains, delivering 640 horsepower combined and a peak torque of 1770 lb-ft. This groundbreaking technology is expected to give standard long-haul fleet operators access to near-zero-emission roadside charging, offering versatility and convenience to their fleet customers.
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What Are the Top Revenue-Generating Geographies in the CNG Powertrain Market?
Asia Pacific was the largest region in the CNG powertrain market in 2024. The regions covered in the CNG powertrain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the CNG Powertrain Market?
2. What is the CAGR expected in the CNG Powertrain Market?
3. What Are the Key Innovations Transforming the CNG Powertrain Industry?
4. Which Region Is Leading the CNG Powertrain Market?
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