In 2019, the global Compressed Natural Gas (CNG) Truck Market was large and is expected to grow significantly by 2027, with a rapid increase in revenue during the forecast period. The demand for Compressed Natural Gas (CNG) Truck has been increasing for both personal and commercial use due to changing market trends. This growth is expected to continue due to increasing awareness among individuals about protecting the environment, leading to the adoption of unconventional transportation fuels to reduce harmful gas emissions.

The use of CNG as a substitute for conventional fuels such as petrol, diesel, gasoline, and LPG has increased, especially in heavy commercial vehicles. However, the ongoing COVID-19 pandemic has hindered the growth of the global Compressed Natural Gas (CNG) Truck market, as production houses and supply chains were shut down, directly affecting sales and production of automotive vehicles.

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Driving factors Compressed Natural Gas (CNG) Truck Market

• Increasing awareness among individuals about protecting the environment, leading to the adoption of unconventional transportation fuels to reduce harmful gas emissions.

• The use of CNG as a substitute for conventional fuels such as petrol, diesel, gasoline, and LPG, especially in heavy commercial vehicles.

• Being one of the cleanest fuels, CNG burns without any odor, is non-corrosive, and involves zero emission of greenhouse gases.

• Increasing prices of petrol and diesel, along with tax incentives by governments, are key drivers for market growth.

• The availability and cost-effectiveness of compressed natural gas in several countries, as well as the rising inclination toward achieving better fuel efficiency, are other factors boosting market growth.

• CNG can be used in traditional combustion engines that have been designed or modified for other fuels, such as gasoline or diesel.

Some of the notable innovations in the Compressed Natural Gas (CNG) Truck Market

• Development of advanced CNG storage tanks with increased capacity and reduced weight, enabling more efficient storage and transportation of CNG.

• Improvement in CNG engine technology, leading to increased fuel efficiency and reduced emissions.

• Development of bi-fuel vehicles that can run on both CNG and gasoline, providing drivers with more flexibility and options.

• Integration of Compressed Natural Gas (CNG) Truck with telematics systems, enabling better monitoring and management of fleet operations.

• Development of CNG fueling infrastructure, including the establishment of new fueling stations and conversion of existing stations to support CNG.

• Introduction of CNG hybrid electric vehicles, combining the benefits of CNG and electric power to provide improved fuel efficiency and reduced emissions.

Major Players Operating in Global Compressed Natural Gas (CNG) Truck Market:

• Volkswagen Group
• General Motors
• Daimler
• Fiat Automobiles
• Ford Motor Company
• PSA Peugeot Citroen
• Honda Motor Company
• TATA Motors
• Suzuki Motor Corporation
• Hyundai
• Changan
• BYD
• Great Wall
• Iran Khodro Industrial
• SG Automotive Group

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