CNG Powertrain Market by Vehicle Type and Geography - Forecast and Analysis 2022-2026
| Published: Sep 2022 | Pages: 129 | SKU: IRTNTR74269 |
The CNG powertrain market share is expected to increase by USD 90.10 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 17.6%.
This compressed natural gas powertrain market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the Compressed natural gas (CNG) powertrain market segmentation by vehicle type (passenger cars and commercial vehicles) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The CNG powertrain market report also offers information on several market vendors, including BorgWarner Inc., CNH Industrial NV, Cummins Inc., Landi Renzo Spa, Mijo Auto Gas Pvt. Ltd., Minda Industries Ltd., Nissan Motor Co. Ltd., Robert Bosch GmbH, Suzuki Motor Corp., Westport Fuel Systems Inc., and Volkswagen AG among others.
What will the CNG Powertrain Market Size be During the Forecast Period?
Download Report Sample to Unlock the Compressed Natural Gas Powertrain Market Size for the Forecast Period and Other Important Statistics
CNG Powertrain Market: Key Drivers, Trends, and Challenges
The rising demand for alternate cleaner fuels is notably driving the compressed natural gas powertrain market growth, although factors such as higher maintenance costs and initial investment costs compared to petrol vehicles may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the CNG powertrain industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Compressed Natural Gas (CNG) Powertrain Market Driver
One of the key factors driving growth in the compressed natural gas powertrain market is the rising demand for alternate cleaner fuels. The goal of achieving zero carbon emissions is to increase the demand for alternate fuels such as CNG globally. CNG generates lower carbon emissions in comparison to other fuels, such as petrol, diesel, and gasoline, and it does not release any kind of particulate matter, which significantly contributes to a low level of pollution. As a result, CNG is anticipated to overtake these other fuels, such as petrol and diesel, as the primary energy source during the forecast period. Governments globally are taking strategic steps, such as subsidies and other tax benefits, to promote the adoption of cleaner fuel vehicles among the people. Such factors are expected to propel the demand for CNG powertrain vehicles, which in turn will drive the growth of the CNG powertrain market.
Key Compressed Natural Gas (CNG) Powertrain Market Trend
The increasing focus on enhancing engine efficiency is a CNG powertrain market trend that is expected to have a positive impact in the coming years. The manufacturers of CNG powertrains are focusing significantly on increasing the efficiency of CNG vehicle engines. The key players in the global compressed natural gas powertrain market are majorly focusing on the use of advanced technologies in the engines of CNG vehicles. For example, Maruti Suzuki, a key player in Asia, provides factory-fitted S-CNG technology for its cars. S-CNG vehicles have high performance, excellent engine reliability, better drivability than several other models, improved fuel efficiency, convenient fueling mode changing options, and safety factors, thus resulting in increasing preference for CNG powertrain vehicles over internal combustion engine vehicles. Hence, increasing focus on enhancing engine efficiency is a growing trend in the global CNG powertrain market, which is expected to drive the growth of the market in focus.
Key Compressed Natural Gas (CNG) Powertrain Market Challenge
The higher maintenance costs and initial investment costs compared to petrol vehicles will be a major challenge for the compressed natural gas powertrain market during the forecast period. The cost of CNG vehicles is higher compared to other vehicles, such as petrol and diesel. The maintenance costs are also higher due to additional components used in CNG vehicles. Moreover, the parts in the CNG powertrain vehicles require more frequent replacement than those found in petrol and diesel vehicles, whose lifespan is longer compared to CNG powertrain vehicles. Such factors are a major challenge to the growth of the global CNG powertrain market.
This compressed natural gas powertrain market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global CNG powertrain market as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the compressed natural gas powertrain market during the forecast period.
Who are the Major Compressed Natural Gas (CNG) Powertrain Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- BorgWarner Inc.
- CNH Industrial NV
- Cummins Inc.
- Landi Renzo Spa
- Mijo Auto Gas Pvt. Ltd.
- Minda Industries Ltd.
- Nissan Motor Co. Ltd.
- Robert Bosch GmbH
- Suzuki Motor Corp.
- Westport Fuel Systems Inc.
- Volkswagen AG
This statistical study of the CNG powertrain market encompasses successful business strategies deployed by the key vendors. The CNG powertrain market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- BorgWarner Inc. - BorgWarner Inc. is a public company headquartered in the US. It is a global company generating $14,838 million in revenues and has around 49,300 employees. Its revenue from the global compressed natural gas powertrain market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.
- BorgWarner Inc. - The company offers a CNG powertrain through its subsidiary Delphi Technologies Inc.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The CNG powertrain market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
CNG Powertrain Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the compressed natural gas powertrain market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Which are the Key Regions for the Compressed Natural Gas (CNG) Powertrain Market?
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68% of the market’s growth will originate from APAC during the forecast period. China, South Korea, and Japan are the key markets for CNG powertrain in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing growth in the automobile sector in countries such as India and China will facilitate the CNG powertrain market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 severely affected the growth of the automobile sector in APAC. To contain the spread of disease, governments in India, China, Japan, Australia, Indonesia, and Vietnam, imposed strict lockdowns, which led to the shutdown of operations in the automobile sector. However, the removal of lockdowns in the second half of 2020 was due to the initiation of large-scale vaccination drives in APAC. This led to the resumption of operations in the automobile sector in the second half of 2020. Moreover, increasing government initiatives and the rise in consumers inclination toward less carbon-emitting vehicles will drive the growth of the compressed natural gas powertrain market in APAC during the forecast period.
What are the Revenue-generating Vehicle Type Segments in the CNG Powertrain Market?
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The CNG powertrain market share growth in the passenger cars segment will be significant during the forecast period. The growth of the market in focus is due to the cheaper starting costs of CNG powertrain vehicles compared to gasoline, diesel, and electric powertrain vehicles. CNG is a popular fuel for passenger vehicles as it is easier to store in vehicles. Also, it is cheaper than LNG, diesel, and gasoline, making it an ideal choice for an urban fleet.
This report provides an accurate prediction of the contribution of all the segments to the growth of the compressed natural gas powertrain market size and actionable market insights on the post-COVID-19 impact on each segment.
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Compressed Natural Gas (CNG) Powertrain Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 17.6% |
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Market growth 2022-2026 |
$90.10 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
16.89 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 68% |
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Key consumer countries |
US, China, Japan, South Korea, Germany, and Italy |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
BorgWarner Inc., CNH Industrial NV, Cummins Inc., Landi Renzo Spa, Mijo Auto Gas Pvt. Ltd., Minda Industries Ltd., Nissan Motor Co. Ltd., Robert Bosch GmbH, Suzuki Motor Corp., Westport Fuel Systems Inc., and Volkswagen AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Compressed Natural Gas (CNG) Powertrain Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive compressed natural gas powertrain market growth during the next five years
- Precise estimation of the CNG powertrain market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the CNG powertrain industry across APAC, North America, Europe, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of compressed natural gas powertrain market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Vehicle Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Vehicle Type
- 5.1 Market segments
- Exhibit 24: Chart on Vehicle Type - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Vehicle Type - Market share 2021-2026 (%)
- 5.2 Comparison by Vehicle Type
- Exhibit 26: Chart on Comparison by Vehicle Type
- Exhibit 27: Data Table on Comparison by Vehicle Type
- 5.3 Passenger cars - Market size and forecast 2021-2026
- Exhibit 28: Chart on Passenger cars - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Passenger cars - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Passenger cars - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Passenger cars - Year-over-year growth 2021-2026 (%)
- 5.4 Commercial vehicle - Market size and forecast 2021-2026
- Exhibit 32: Chart on Commercial vehicle - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Commercial vehicle - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Commercial vehicle - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Commercial vehicle - Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Vehicle Type
- Exhibit 36: Market opportunity by Vehicle Type ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 China - Market size and forecast 2021-2026
- Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.9 Japan - Market size and forecast 2021-2026
- Exhibit 66: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.10 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.11 South Korea - Market size and forecast 2021-2026
- Exhibit 74: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on South Korea - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on South Korea - Year-over-year growth 2021-2026 (%)
- 7.12 Germany - Market size and forecast 2021-2026
- Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.13 Italy - Market size and forecast 2021-2026
- Exhibit 82: Chart on Italy - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Italy - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Italy - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Italy - Year-over-year growth 2021-2026 (%)
- 7.14 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 BorgWarner Inc.
- Exhibit 93: BorgWarner Inc. - Overview
- Exhibit 94: BorgWarner Inc. - Business segments
- Exhibit 95: BorgWarner Inc. - Key news
- Exhibit 96: BorgWarner Inc. - Key offerings
- Exhibit 97: BorgWarner Inc. - Segment focus
- 10.4 CNH Industrial NV
- Exhibit 98: CNH Industrial NV - Overview
- Exhibit 99: CNH Industrial NV - Business segments
- Exhibit 100: CNH Industrial NV - Key news
- Exhibit 101: CNH Industrial NV - Key offerings
- Exhibit 102: CNH Industrial NV - Segment focus
- 10.5 Cummins Inc.
- Exhibit 103: Cummins Inc. - Overview
- Exhibit 104: Cummins Inc. - Business segments
- Exhibit 105: Cummins Inc. - Key offerings
- Exhibit 106: Cummins Inc. - Segment focus
- 10.6 Landi Renzo Spa
- Exhibit 107: Landi Renzo Spa - Overview
- Exhibit 108: Landi Renzo Spa - Business segments
- Exhibit 109: Landi Renzo Spa - Key offerings
- Exhibit 110: Landi Renzo Spa - Segment focus
- 10.7 Mijo Auto Gas Pvt. Ltd.
- Exhibit 111: Mijo Auto Gas Pvt. Ltd. - Overview
- Exhibit 112: Mijo Auto Gas Pvt. Ltd. - Product / Service
- Exhibit 113: Mijo Auto Gas Pvt. Ltd. - Key offerings
- 10.8 Minda Industries Ltd.
- Exhibit 114: Minda Industries Ltd. - Overview
- Exhibit 115: Minda Industries Ltd. - Product / Service
- Exhibit 116: Minda Industries Ltd. - Key offerings
- 10.9 Nissan Motor Co. Ltd.
- Exhibit 117: Nissan Motor Co. Ltd. - Overview
- Exhibit 118: Nissan Motor Co. Ltd. - Business segments
- Exhibit 119: Nissan Motor Co. Ltd. - Key news
- Exhibit 120: Nissan Motor Co. Ltd. - Key offerings
- Exhibit 121: Nissan Motor Co. Ltd. - Segment focus
- 10.10 Robert Bosch GmbH
- Exhibit 122: Robert Bosch GmbH - Overview
- Exhibit 123: Robert Bosch GmbH - Business segments
- Exhibit 124: Robert Bosch GmbH - Key news
- Exhibit 125: Robert Bosch GmbH - Key offerings
- Exhibit 126: Robert Bosch GmbH - Segment focus
- 10.11 Suzuki Motor Corp.
- Exhibit 127: Suzuki Motor Corp. - Overview
- Exhibit 128: Suzuki Motor Corp. - Business segments
- Exhibit 129: Suzuki Motor Corp. - Key offerings
- Exhibit 130: Suzuki Motor Corp. - Segment focus
- 10.12 Volkswagen AG
- Exhibit 131: Volkswagen AG - Overview
- Exhibit 132: Volkswagen AG - Business segments
- Exhibit 133: Volkswagen AG - Key offerings
- Exhibit 134: Volkswagen AG - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 135: Inclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 136: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 137: Research methodology
- Exhibit 138: Validation techniques employed for market sizing
- Exhibit 139: Information sources
- 11.5 List of abbreviations
- Exhibit 140: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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cng powertrain market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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