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CNG Powertrain Market Share

Report ID: GMI12106
Published Date: Nov 2024
Report Format: PDF

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CNG Powertrain Market Share

CNG Powertrain Company Market Share, 2023

Robert Bosch GmbH., Cummins Inc., and Volkswagen AG collectively held a substantial market share of over 8% in the CNG powertrain industry in 2023. Bosch is advancing fuel systems and injection technologies to enhance efficiency and reduce the emissions of CNG engines. The company is investing in R&D to refine its CNG fuel injection systems and spark plugs. This initiative aims to lower emissions and improve fuel economy, aligning with tightening global emissions standards. Additionally, Bosch collaborates with automotive OEMs to ensure the efficient integration of its systems.

Cummins is focusing on developing high-performance, low-emission CNG engines for commercial applications. Emphasizing durability and scalability, its CNG powertrains are designed for trucks and buses. By investing in partnerships and R&D, Cummins aims to expand its CNG engine offerings globally, particularly in markets with strong demand for low-carbon solutions, reinforcing its position as a leader in clean power technologies.

Volkswagen is expanding its CNG vehicle lineup to reduce fleet emissions. The company integrates advanced CNG powertrains across multiple models and collaborates with industry partners to improve CNG infrastructure. By promoting CNG as a cost-effective and eco-friendly alternative for urban transport, Volkswagen aims to meet its sustainability goals while offering fuel-efficient options for consumers.

CNG Powertrain Market Companies

Major players operating in the CNG powertrain industry are:

Continental
Cummins
Ford Motor
General Motors
Honda Motor
Robert Bosch
Stellantis
Tata Motors Limited
Volkswagen
Volvo Group

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of CNG powertrain reached USD 90.3 billion in 2023 and is set to grow at a 17.2% CAGR from 2024 to 2032, driven by stricter environmental regulations and emission standards worldwide.

The front wheel drive (FWD) segment held around 58% of the market share in 2023 due to its cost-effectiveness, efficiency, and suitability for urban and passenger vehicles.

The Asia Pacific market accounted for 45% of the revenue share in 2023 and is expected to exceed USD 180 billion by 2032, led by robust government initiatives promoting clean energy and significant investments in CNG infrastructure

China's CNG powertrain market is expected to exceed USD 60 billion by 2032, propelled by the expansion of CNG refueling stations to support growing urban populations and commercial fleets.

The key players in the industry include Continental, Cummins, Ford Motor, General Motors, Honda Motor, Robert Bosch, Stellantis, Tata Motors Limited, Volkswagen, and Volvo Group.