North America 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 North America CNG Powertrain Market would witness market growth of 15.5% CAGR during the forecast period (2022-2028).
CNG, sometimes known as the green fuel for its lack of lead and sulfur, helps to reduce hazardous emissions. It extends the life of spark plugs because it is non-corrosive. As CNG contains no lead or benzene, lead fouling of spark plugs and emissions from lead or benzene are eliminated. CNG is a safe fuel due to its qualities. It's kept in approved high-gauge seamless cylinders with very little danger of leakage. As it is lighter than air, it simply rises and diffuses into the atmosphere, where it mixes readily and evenly. Since it has a high auto-ignition temperature (540 degrees Celsius) and a narrow range of inflammability, CNG is less prone to auto-ignite on hot surfaces. It indicates that if the quantity of CNG in the air is less than 5% or more than 15%, it will not ignite.
In North America, Canada has the largest automotive market. Imports of passenger vehicles climbed, while imports of trucks and other vehicles for the transportation of goods declined and imports of buses and other public transportation passenger vehicles increased. Along with that, automotive companies are investing in advanced automobile parts, equipment, and systems. The automotive regulatory framework in Canada is similar to that in the United States, with a substantial number of the two countries' road safety standards-aligned.
In recent years, overall unit sales nearly quadrupled over the previous year, with a significant share of those being CNG vehicles and the remainder being LPG vehicle. Given the present public transportation enhancements, Canadian imports of buses and other public transportation passenger vehicles climbed in recent years. CNG, bumpers, clutches, drive-axles with differential, and gearboxes are among the other Canadian imports that have seen a rise in present days. Therefore, due to increasing demand of CNG supported vehicles in order to meet regional government strict emission guidelines. The regional CNG powertrain market is expected to grow in the forecast period.
The US market dominated the North America CNG Powertrain Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $24,554.2 Million by 2028. The Canada market is estimated to grow at a CAGR of 18.1% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 17.1% 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 U.S., Mexico, Canada, and Rest of North America.
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 North America
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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