CNG Powertrain Market Size to Reach USD 358.11 Bn by 2033

The Global CNG powertrain Market size was valued at USD 72.0 billion in 2024 and is projected to reach USD 358.11 billion by 2033, growing at a CAGR of 17.4% from 2024 to 2033 according to a new report by Nova One Advisor.

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The goal of?net-zero carbon?pollution is being driven by the increasing desire for alternative transitional fuel. Since particle matter is a significant contributor to vehicle pollution, compressed natural gas (CNG) has lower carbon emissions and no particulate emissions. As a consequence, it is anticipated that CNG will surpass other fuels like petroleum, gasoline, and LPG as the dominant energy source. The implementation of planned programs by governments in various regions to offer tax breaks, refunds, and other benefits to CNG vehicle owners is expected to boost demand for CNG powertrain cars over the projection period. Greater use of natural gas vehicles can aid nations with domestic natural gas resources in reducing their reliance on shipments of liquid fuel. Because LNG and CNG are less costly than gasoline or diesel in many countries, natural gas cars are also a financially sensible choice. Applications that use a lot of energy can particularly benefit from this expense advantage. Commercial cars fueled by natural gas are also much cleaner than those with conventional powertrains. This opens up the possibility of using natural gas vehicles, for instance, for late-night transportation in cities and villages. Because of this, lawmakers and other individuals are starting to favor natural gas as a fuel substitute, enabling businesses to enter previously untapped market segments.

Internal combustion engines with spark ignition are common in both vehicles that operate on fuel and those that run on compressed natural gas (CNG). It functions in a manner comparable to a gasoline motor. The gasoline canister, or cylinder, for natural gas is typically located in the rear of the car. High-pressure gas is transported by the CNG fuel system from the fuel canister through the fuel lines to a pressure limiter, which reduces the pressure to a level suitable for the fuel injection system of the motor. The fuel is then squeezed and pumped into the combustion chamber or intake manifold, where it mixes with the air and burns when a spark electrode is inserted. Buses and vehicles that frequently visit bases for refilling are frequently powered by CNG. CNG is also used as fuel for vehicles. CNG cars require specialized compressors that are connected to a main source of natural gas in order to be refueled. The gasoline canister, or cylinder, for natural gas, is typically located in the rear of the car. A pressure limiter in the CNG fuel system reduces the high-pressure gas to a level compatible with the engine's fuel injection system after it is transported from the fuel storage via the fuel lines.

• The demand for cleaner and greener transit choices is one of the main factors influencing the development of CNG powertrains.
• Compared to the cost of gasoline and diesel, the price of natural gas has remained comparatively stable, making compressed natural gas (CNG) an appealing fuel choice for fleet cars and transit businesses seeking to reduce fuel expenses.
• Some areas have also put policies and incentives in place to promote the use of CNG powertrains, including financing for the construction of natural gas filling facilities as well as tax breaks and subsidies for the acquisition of CNG cars.

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Regional Insights

Asia Pacific dominated the market in 2023 and accounted for over 67.0% share owing to the rapid growth in the automobile sector in countries such as China and India. Asia Pacific is undergoing numerous technological advancements, along with ever-developing CNG infrastructure. Prominent players in the region, such as Maruti Suzuki, are incorporating S-CNG technology into passenger vehicles, such as cars. The cars offered by the company are equipped with an intelligent fuel injection system and the CNG powertrain is calibrated to deliver optimum performance and improve the drivability for all terrains.

Latin America is anticipated to expand at the highest CAGR of 18.6% from 2023 to 2032. The growing per capita income of consumers based in Argentina, Brazil, and Colombia has resulted in increased expenditure on automobiles. Consumers are majorly investing in buying a personal vehicle as compressed natural gas powertrain vehicles are viable, cost-effective, and environmentally friendly, thus they are widely preferred in the region. Additionally, the government in Argentina is actively taking steps to increase the adoption of the CNG powertrain vehicles by launching the ‘Conectar Gas Industria’ program. Under this program, the government has planned to invest USD 517,000 to build CNG infrastructure and install a new 25 CNG station in the country.

Some of the prominent players in the CNG powertrain market include:

• Cummins Inc.
• AB Volvo
• Robert Bosch GmbH.
• FPT Industrial S.P.A.
• Ford Motor Company
• Maruti Suzuki India Limited
• Volkswagen AG
• Hyundai Motor Company
• Nissan Motor Co., Ltd.
• Honda Motor Company

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global CNG powertrain market.

Drive Type

• All-wheel Drive
• Rear Wheel Drive
• Front Wheel Drive

Fuel Type

• Mono Fuel
• Bi-fuel

Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

CNG Powertrain Market - Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall CNG Powertrain market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

• Analysis of key drivers (The CNG powertrain manufacturers are majorly focusing on improving the vehicle's engine efficiency. They are investing in enhancing the engine performance by working on reducing the volumetric efficiency loss, increasing the flame propagation speed, and decreasing the fuel evaporation in engines. Additionally, prominent automobile manufacturers are implementing advanced technologies in CNG vehicles.), opportunities (Growth opportunities in emerging countries), restraints (High capital investments and low cost-benefit ratio and unfavourable regulatory and reimbursement scenario), and challenges (Operational barriers) influencing the growth of the CNG Powertrain market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the CNG Powertrain market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the CNG Powertrain market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the CNG Powertrain market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings of leading players like Cummins Inc.; AB Volvo; Robert Bosch GmbH; FPT Industrial S.P.A.; Ford Motor Company

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