Europe CNG Powertrain Market Size, Share & Industry Trends Analysis Report By Fuel Type (Bi-fuel and Mono Fuel), By Vehicle Type (Passenger Vehicle and Commercial Vehicle), By Drive Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe CNG Powertrain Market would witness market growth of 15.8% CAGR during the forecast period (2022-2028).
CNG-powered automobiles from a variety of manufacturers have been available for some years. Because their engines were built to run on conventional fuel, they can use the bulk of the CO2 potential simply by changing the fuel, which can already reduce emissions by up to 24%. Due to the still-relatively low number of CNG vehicles manufactured, more optimization with CNG-specific development is required.
Automotive manufacturers has now looked into the possibility of cutting CO2 emissions even more by combining downsizing with CNG. The well-known automotive downsizing engine i.e. a three-cylinder, single-stage turbocharged gasoline engine with direct injection and a 1.2-liter displacement was initially converted for dual operation with natural gas and gasoline in a first step. The engine was then put through its paces on an engine test bench before being installed in a test car and measured. The initial step's purpose was to demonstrate the bivalent variant's potential and limitations, as well as to highlight prospective optimization targets and problems. The results would be used to create an optimal, monovalent design as well as the application of the essential engine parts and equipment in the second step.
Automobile companies are choosing to locate in this region because of the long tradition of quality, trained workforce, and world-class supply chains. Technology is transforming the way the automotive business looks and where money can be generated, from the engine that power the automobiles to the way we manage them and the attitudes about owning them. CNG gas is being used widely by various regional automobile companies, and now powers millions of automobiles throughout the region, is one of the many scientific achievements.
Both the government and industry would invest almost a quarter of a billion pounds in developing and manufacturing CNG vehicles as a result of the numerous sector deals. This investment is a significant step forward in the efforts to mass-produce CNG gas and vehicles in the United Kingdom. In addition, these agreements intended to establish a world-class testing environment for connected vehicles. Manufacturers will enhance the reliability of these CNG powertrains by pushing them to the boundaries of their speed as well as handling on the renowned test tracks. Also, the regional government is funding a new industry-led initiative to improve the productivity of UK suppliers so they can compete with the best in Europe. Therefore, due to increasing number of new manufacturers of automobiles and producers for CNG gas, the regional CNG powertrain market is expected to grow in the forecast period.
The Germany market dominated the Europe CNG Powertrain Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6,298 Million by 2028. The UK market is experiencing a CAGR of 14.8% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 16.6% during (2022 - 2028).
Based on Fuel Type, the market is segmented into Bi-fuel and Mono Fuel. Based on Vehicle Type, the market is segmented into Passenger Vehicle and Commercial Vehicle. Based on Drive Type, the market is segmented into Front Wheel Drive, All-wheel Drive, and Rear Wheel Drive. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global CNG Powertrain Market will Hit $185.5 Billion by 2028, at a CAGR of 16.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Maruti Suzuki India Limited, FPT Industrial (Iveco Group), Volvo Group, Honda Motor Co. Ltd., Cummins, Inc., Hyundai Motor Company, Volkswagen AG, Ford Motor Company, Bosch Rexroth AG (Robert Bosch GmbH), and Nissan Motor Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Fuel Type
- Mono Fuel
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Drive Type
- Front Wheel Drive
- All-wheel Drive
- Rear Wheel Drive
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Maruti Suzuki India Limited
- FPT Industrial (Iveco Group)
- Volvo Group
- Honda Motor Co. Ltd.
- Cummins, Inc.
- Hyundai Motor Company
- Volkswagen AG
- Ford Motor Company
- Bosch Rexroth AG (Robert Bosch GmbH)
- Nissan Motor Corporation
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