LAMEA 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 Latin America, Middle East and Africa CNG Powertrain Market would witness market growth of 17.9% CAGR during the forecast period (2022-2028).
A CNG powertrain is essentially equivalent to a standard internal combustion engine that runs on gasoline. The CNG powertrain has a few different components, but the manner the fuel is utilized is the same. The fuel is combined with air and consumed in the cylinder to generate power. Fuel is stored in different tanks, and CNG necessitated the use of a specific tank that could handle highly pressurized gas. Since the gas is under high pressure when it leaves the tank, it must first pass by a pressure regulator before being burned.
CNG engines contain a large number of electrically sensitive components. To start the car and power the accessories, these powertrains need a 12-volt battery system. An alternator operated by the engine charges the battery. As a result, when performing repairs or welding on the car, it is critical to separate and separate the battery & electrical system. Welding generates additional electrical current, which can harm critical engine electrical components. When maintaining the high-pressure gas tanks and pipes, more caution is required. In most tanks, there will be pressure vents that will need to be inspected following a collision.
The regional governments are highly focusing on more manufacturing of CNG supported vehicles and guiding automobile manufacturing units to heavily invest on CNG technologies that can be incorporated in automobiles to provide sustainability in the environment. The gas mileage of a fuel powertrain converted to run on CNG is nearly the same. As a result, the mileage of the powertrain increases substantially.
It is believed that transportation will be cheaper and people will find it simpler to move across as a result of the discovery of the possible cost reductions in using CNG As per the benefit analysis of CNG as automobile fuel when CNG is utilized as a transportation fuel, CO2 emissions are reduced by a significant amount when compared to PMS (petrol) or diesel. Therefore, due to greater awareness among regional automobile manufacturers related to benefits of using CNG as a source of fuel in vehicles, the CNG powertrain market is likely to grow in the forecast period.
The Brazil market dominated the LAMEA CNG Powertrain Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,672.3 Million by 2028. The Argentina market is poised to grow at a CAGR of 18.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 17.6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global CNG Powertrain Market is Predict to reach $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
- Saudi Arabia
- South Africa
- Rest of LAMEA
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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