Global CNG Powertrain Market Grows Steadily at a CAGR of 17.59%

Introduction

Conventional IC engines running on gasoline have no differences from CNG powertrains. The CNG powertrain has a few new parts, but the combustion process is the same. The fuel is mixed with air to produce power and then burned in the cylinder. CNG necessitated a tank that could carry highly pressurized gas, unlike conventional fuel tanks. When the gas leaves the tank, it is under high pressure. Increasing governments' investments worldwide to establish CNG and LPG infrastructure and buyer incentives will present opportunities for original equipment manufacturers to expand their income streams and geographic footprint.

Market Dynamics

The growing need for Temporary Replacement Fuel and Low Operating Expenses Relative to Gasoline-Powered Vehicles Drives the Global Market

Increasing demand for alternative transitional fuels is advancing the objective of achieving net-zero carbon emissions. Compressed natural gas (CNG) emits less carbon than diesel, gasoline, and liquid petroleum gas (LPG). It does not contain particle matter, which significantly contributes to vehicular pollution. Consequently, it is projected that CNG will soon surpass these other fuels as the principal energy source. Governments worldwide are adopting strategic measures to provide tax rebates, subsidies, and other incentives to customers of the CNG market.

CNG and LPG-powered vehicles have much lower running expenses than their petroleum-powered counterparts. CNG and LPG are more economical, especially for regular drivers, now that gasoline prices are rising due to increased demand. CNG powertrains can travel roughly 21 kilometers per kilogram of fuel, but diesel and gasoline cars can travel approximately 17 and 15 kilometers per liter, respectively. Consequently, CNG and LPG powertrains can travel significantly further at a lower cost, reducing their running costs.

Manufacturers primary focus on Improving Engine Efficiency Creates Tremendous Opportunities

CNG powertrains' manufacturers focus significant attention on increasing the engine's efficiency. They are investing in enhancing the engine's performance by attempting to reduce the loss of volumetric efficiency, raise the flame propagation rate, and lower the amount of gasoline that evaporates from the engine. For instance, s-CNG technology is implemented in passenger vehicles to enhance fuel economy. Adjusting the fuel-to-air ratio and synchronizing the electric control units with the intelligent fuel injection system accomplish this. In addition, the integration of technology allows for improved calibration of the CNG system with the powertrain, suspension, and braking system; as a result, the S-CNG technology improves the total fuel economy of the vehicle.

Regional Analysis

Asia-Pacific dominates the global CNG powertrain market due to the rapid growth of the vehicle industry in China and India. The Asia-Pacific region is undergoing numerous technology developments and CNG infrastructural development. Notable regional players, including Maruti Suzuki, are adopting S-CNG technology in automobiles and other passenger vehicles. The company's automobiles have a sophisticated fuel injection system, and the CNG powertrain is calibrated to produce optimal performance and enhance all-terrain drivability.

Key Highlights

• The global CNG powertrain market was valued at USD 71.20 billion in 2021. It is projected to reach USD 306.06 billion by 2030, growing at a CAGR of 17.59% during the forecast period (2022–2030).
• Based on the drive type, the market is divided into All-wheel Drive, Rear Wheel Drive, and Front Wheel Drive.The front-wheel-drive segment dominates the market, and this growth can be attributed to the advantageous characteristics of front-wheel-drive vehicles.
• Based on fuel type, the market is divided into mono fuel and bi-fuel.The bi-fuel dominates the market, and this rise is attributable to the increased usage of modern technologies such as S-CNG.
• Based on vehicle type, the market is divided into passenger and commercial vehicles.The passenger vehicle segment dominates the market during the forecast period
• Asia-Pacific dominates the global CNG powertrain market due to the rapid growth of the vehicle industry in China and India.

Competitive Players

1. Cummins Inc.
2. AB Volvo
3. Robert Bosch GmbH.
4. FPT Industrial S.P.A.
5. Ford Motor Company
6. Maruti Suzuki India Limited
7. Volkswagen AG
8. Hyundai Motor Company
9. Nissan Motor Co. Ltd.
10. Honda Motor Company.

Recent Developments

• In June 2022, Cummins Inc., hydrogen engine insights for fleet operators.
• In June 2022, Volvo Trucks showcases a new zero-emissions truck.
• In June 2022, Volvo Energy invests in Connected Energy for the second-life battery business.
• In June 2022, Volvo CE will be the first to deliver construction machines built using fossil-free steel to customers.
• In February 2022, Nissan India strengthened its focus on safety and technology.

Segmentation

1. By Drive Type
   1. All-Wheel Drive
   2. Rear Wheel Drive
   3. Front Wheel Drive
2. By Fuel Type
   1. Mono Fuel
   2. Bi-Fuel
3. By Vehicle Type
   1. Passenger Vehicle
   2. Commercial Vehicle