Press release
2025-2034 CNG Powertrain Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
CNG Powertrain Market
What Will the CNG Powertrain Industry Market Size Be by 2025?
The market size of the cng powertrain has seen rapid expansion in the past few years. The projection is for a growth from $98.99 billion in 2024 to $116.27 billion in 2025, with a compound annual growth rate (CAGR) of 17.5%. The reasons for such growth in the historic period can be linked to environmental regulations and emission standards, the stable pricing of natural gas, less dependency on oil, enhanced fuel efficiency and cost saving benefits, as well as concerns related to global energy security.
What's the Long-Term Growth Forecast for the CNG Powertrain Market Size Through 2029?
In the coming years, the market size for cng powertrain is anticipated to expand rapidly. By 2029, the estimated value is set to reach $220.61 billion with a compound annual growth rate (CAGR) of 17.4%. The surge in the projected period can be associated with the increase in renewable natural gas (RNG) production, the emphasis on lightweight elements in CNG vehicle construction, improved fueling process through digital innovations, and worldwide development of CNG fueling infrastructure. Key trends projected for the forecasted period involve an intensified focus on sustainable transportation, improvements in CNG engine technology, breakthroughs in CNG engine management systems, and the implementation of technology in CNG vehicles.
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What Are the Key Growth Drivers Fueling the CNG Powertrain Market Expansion?
There is a notable influence on the growth of the CNG powertrain market due to increasing interest in alternative greener fuels. These alternate fuels are partially or entirely derived from sources other than petroleum for combustion engines. They are more eco-friendly compared to conventional fuels. With the use of alternate fuels like compressed natural gas (CNG), the CNG powertrain allows the vehicle to operate with reduced carbon emissions and particle-less consumption. This is critical to curtail air pollution. As an example, in January 2023, the Energy Information Administration, a US statistical agency associated with the Department of Energy, disclosed in a report that the daily consumption of natural gas in the United States reached a peak of 141.0 billion cubic feet (Bcf). The report also indicated that the usage of natural gas in the electric power sector saw a significant rise of 45% in December 2022. Consequently, the escalating demand for cleaner alternative fuels is propelling the growth of the CNG powertrain market.
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What Are the Key Trends Driving CNG Powertrain Market Growth?
Technological advancement is a prominent trend that is gaining traction in the CNG powertrain market. Several major firms in the market are concentrating their efforts on improving engine performance in their latest products. For example, US Hybrid, a power conversion and powertrain system manufacturer headquartered in the US, introduced a natural gas-driven parallel hybrid powertrain technology in May 2022. This technology, which features almost zero emissions, is intended for use in drayage and long-haul trucks. The new powertrain outperforms other CNG or diesel powertrains, delivering a combined horsepower of 640 hp and a maximum torque of 1770 lb-ft. This first-of-its-kind innovation offers near-zero-emission on-road charging support for standard long-haul fleet operators, adding value to fleet customers by offering flexibility and convenience.
How Is the CNG Powertrain Market Segmented?
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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Which Companies Are Leading the Charge in CNG Powertrain Market Innovation?
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
Which Regions Are Leading the Global CNG Powertrain Market in Revenue?
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.
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