The global CNG truck market is anticipated to grow at a considerable CAGR of 5.0% during the forecast period (2023-2030). CNG trucks is a commercial vehicle that utilize compressed natural gas as their fuel source, offering a more environmentally friendly alternative to diesel or gasoline. By emitting fewer pollutants and greenhouse gases, these trucks are becoming increasingly attractive.
Browse the full report description of “Compressed Natural Gas (CNG) Truck Market Size, Share & Trends Analysis Report by Type (Special Fuel, Dual Fuel), by Application (Light-duty Vehicle, Medium-duty Vehicle, Heavy-duty Vehicle), by Technology (Manual, Semi-Automatic, Automatic), and by End-User Industry (Transport, Construction, Mining, Agriculture) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/cng-truck-market
CNG trucks are commonly used for freight transportation, waste management, and public transportation. They are popular for stop-and-go urban delivery and regional haulage, and are cost-effective due to the lower price of natural gas. Government incentives and regulations may drive wider adoption. As environmental concerns rise, CNG trucks are likely to see increased use in various sectors. The CNG fuel system transfers high-pressure gas from the fuel tank through the fuel lines, where a pressure regulator reduces the pressure to a level compatible with the engine fuel injection system. The adoption of new technology in CNG trucks has further propelled the demand for these vehicles in the market. Some of the technologies that have contributed to the growth of the CNG truck market such as lightweight materials, advanced driver assistance systems, and enhanced storage and range, among others. However, owing to these advantages, market players are comes up with new technology-based CNG trucks to meet the increasing demand in the CNG truck market. For instance, in September 2022, Tata Motors launched India's first range of CNG-powered medium and heavy commercial trucks with Advanced Driver Assistance Systems. The Signa CNG trucks are powered by a 5.7-litre engine and have a driving range of up to 1,000 km. The trucks come equipped with a 7-inch touchscreen infotainment system and ADAS features such as CMS, LDWS, DMS, ESC, and TPMS. The launch is expected to provide a sustainable and cost-effective solution for the transportation of goods in India.
Market Coverage
• The market number available for – 2023-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Type
o By Application
o BY Technology
o By End-User Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Includes Volvo Group, Mitsubishi Fuso Truck and Bus Corp., Renault Trucks, Tata Motors Ltd., and Volkswagen AG., among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Compressed Natural Gas (CNG) Truck Market Report Segment
By Type
By Application
By Technology
By End-User Industry
Global Compressed Natural Gas (CNG)Truck Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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