June 14, 2024
Compressed Natural Gas (CNG) Truck Market

Compressed Pure Gasoline (CNG) Truck Market

CNG truck market is anticipated to develop at a substantial CAGR of 5.0% in the course of the forecast interval (2023-2030). The expansion of the market is attributed to components such because the growing adoption of eco-friendly transportation options and the necessity to scale back carbon emissions. Furthermore, the demand for CNG vehicles is anticipated to rise in varied end-user industries, together with transport, building, mining, and agriculture, which can gasoline the market progress. For example, the mining sector is witnessing a surge within the adoption of CNG vehicles as a result of their decrease emissions and cost-effective gasoline choices. As well as, turbocharged engines are most well-liked in CNG vehicles owing to their capacity to boost energy, effectivity, and efficiency. The turbocharger will increase air strain, enhancing gasoline combustion and lowering consumption. This expertise allows CNG engines to keep up efficiency at excessive altitudes and reduces emissions, making them environmentally pleasant. For example, in June 2022, Ashok Leyland launched the ecomet STAR 1115 CNG truck, which is provided with a 144 HP turbocharged engine and has a cylinder capability starting from 300 to 400 litres. The truck has a gross car weight of 11,500 kg and provides all kinds of load choices ranging between 17-22 ft. The CNG cylinder capability of the truck is between 300 to 400 litres.

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The worldwide CNG truck market is segmented primarily based on its sort, software, expertise, and end-user {industry}. The market is categorized into particular gasoline and twin gasoline primarily based on its sort. For software, the market is additional segmented into light-duty car, medium-duty car, and heavy-duty car. By way of expertise, the market is split into handbook, semi-automatic, and computerized choices. Furthermore, primarily based on the end-user {industry}, the market is segmented into transport, building, mining, and agriculture.

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• Market Protection
• Market quantity obtainable for – 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Phase Coated- By Supply, By Product Kind, By Purposes
• Aggressive Panorama- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
International CNG Truck Market by Kind
o Particular Gas
o Twin Gas

International CNG Truck Market by Software
o Mild-Obligation Automobile
o Medium-Obligation Automobile
o Heavy-Obligation Automobile

International CNG Truck Market by Expertise
o Guide
o Semi-Computerized
o Computerized

International CNG Truck Market by Finish-Consumer Business
o Transport
o Development
o Mining
o Agriculture

Regional Evaluation
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Remainder of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Remainder of Asia-Pacific
o Remainder of the World

Firm Profiles
o Ashok Leyland
o Beiqi Foton Motor Co Ltd
o Daimler Truck AG
o Dongfeng Motor Corp.
o Freightliner Customized Chassis Corp.
o Hino Motors, Ltd.
o Isuzu Motors Ltd.
o Iveco
o JAC Motors
o Kenworth Truck Co.
o Mack Vehicles
o MAN Truck & Bus AG
o Navistar Worldwide Corp.
o Oshkosh Company
o Peterbilt Motors Co.
o Scania AB
o Shaanxi Car Group
o Western Star Vehicles

The Report Covers
• Market worth knowledge evaluation of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for every market phase.
• Nation-wise evaluation of main geographical areas.
• Key corporations working within the world CNG vehicles market. Based mostly on the provision of information, info associated to new product launches, and related information can be obtainable within the report.
• Evaluation of enterprise methods by figuring out the important thing market segments positioned for sturdy progress sooner or later.
• Evaluation of market-entry and market growth methods.
• Aggressive methods by figuring out ‘who-stands-where’ out there.

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About Orion Market Analysis
Orion Market Analysis (OMR) is a market analysis and consulting firm identified for its crisp and concise stories. The corporate is provided with an skilled workforce of analysts and consultants. OMR provides high quality syndicated analysis stories, custom-made analysis stories, consulting and different research-based providers. The corporate additionally supply Digital Advertising and marketing providers by its subsidiary OMR Digital and Software program growth and Consulting Companies by one other subsidiary Encanto Applied sciences.

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