The CNG Powertrain Global Market Report 2023, provides comprehensive information on the cng powertrain market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/cng-powertrain-global-market-report
The global CNG powertrain market is expected to grow from $69.44 billion in 2022 to $83.58 billion in 2023 at a compound annual growth rate (CAGR) of 20.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The CNG powertrain market is expected to reach $166.25 billion in 2027 at a CAGR of 18.8%.
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Technological innovation is the key trend gaining popularity in the CNG powertrain market. Major companies operating in the CNG powertrain market focus on increasing engine performance in their new offerings. For instance, in May 2022, US Hybrid, a US-based power conversion and powertrain system manufacturer, launched natural gas-powered parallel hybrid powertrain technology with near-zero emissions to be employed in drayage and long-haul trucks. The new powertrain delivers more power than other CNG or diesel powertrains with 640 hp combined horsepower and 1770 lb-ft maximum torque. This industry-first, innovative technology would provide near-zero-emission roadside charging assistance to standard long-haul fleet operators, providing fleet clients with versatility and convenience.
The cng powertrain market 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
Asia Pacific was the largest region in the cng powertrain market in 2022.
The table of contents in TBRC’s cng powertrain market report includes:
- Executive Summary
- CNG Powertrain Market Characteristics
- CNG Powertrain Market Trends And Strategies
- CNG Powertrain Market – Macro Economic Scenario
- CNG Powertrain Market Segmentation
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- Global CNG Powertrain Market Competitive Benchmarking
- Global CNG Powertrain Market Competitive Dashboard
- Key Mergers And Acquisitions In The CNG Powertrain Market
- CNG Powertrain Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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