Industry Background:
CNG or Compressed Natural Gas vehicles operate like gasoline-powered vehicles with spark-ignited internal combustion engines. The engine functions the same way as a gasoline engine. Natural gas is a clean-burning fuel. Building a CNG station for a retail application or a fleet requires calculating the right combination of pressure and storage needed for the types of vehicles being fueled.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Suzuki Motor Corporation (Japan), Maruti (India), Honda Motor Company (Japan), Hyundai Motor Group (South Korea), CREAT - UNO MINDA Enterprise (India), Volkswagen AG (Germany), Ford Motor Company (United States) and Landi Renzo (Italy) |
This growth is primarily driven by Environment Friendly and Ease of Use and Flexibility and Increasing Number of Automotive Vehicles over the Globe.
Globally, a noticeable market trend is evident Focus on Alternative Green Fuels
Major Manufacturers, such as Suzuki Motor Corporation (Japan), Maruti (India), Honda Motor Company (Japan), Hyundai Motor Group (South Korea), CREAT - UNO MINDA Enterprise (India), Volkswagen AG (Germany), Ford Motor Company (United States) and Landi Renzo (Italy), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The automotive CNG System Market is expected to grow with rising demand for online food delivery. It is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Systems and Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
In January 2023, Uno Minda acquired a full stake in Minda Kosei Aluminum Wheels. The joint venture company entered into a technology licensing agreement with Kosei to ensure continuity of technical support.
On 10th August 2021, Maruti Suzuki launch CNG variants of Swift, Dzire, Vitara Brezza. The new models will feature the 1.2-liter DualJet K12C petrol engine with a factory-fitted CNG kit.
Influencing Trend:
Focus on Alternative Green Fuels and Adoption of Automotives
Market Growth Drivers:
Environment Friendly and Ease of Use and Flexibility and Increasing Number of Automotive Vehicles over the Globe
Challenges:
Regulatory Guidelines on the Automotive CNG System
Restraints:
CNG Gas Stations have Limited Availability and CNG Tank Requires Need Large Space and it is heavy for Automotive
Opportunities:
Government Investments on Environment-Friendly Fuels
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automotive CNG System Market
- Analysis about New Entrants in Automotive CNG System Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automotive CNG System Study Sheds Light on
The Automotive CNG System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive CNG System industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive CNG System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.