The global light and heavy duty natural gas vehicle market produce close to 2 million units in 2016 and is expected almost to reach 3 million units by 2021, says Technavio.
Technavio has announced its latest market research report on the global light and heavy duty natural gas vehicle market, under its automotive manufacturing portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like CNH Industrial, Daimler Trucks, General Motors, MAN Truck & Bus, and Volvo Trucks.
According to Neelam Barua, a lead analyst for automotive manufacturing research at Technavio, “The rising environmental and health concerns is encouraging the regulatory agencies to implement strict emission norms across the world. These regulations will increase the adoption of NGV, especially in the LCV and HCV segment and attribute to the growth of the light and heavy duty natural gas vehicle market during the forecast period.”
The emission of natural gas-powered engines is very less compared to diesel-powered light-duty and heavy-duty trucks. The government bodies are also mandating the installation of urea filters to reduce nitrox emissions in various countries across the globe. The increasing prices of diesel engines will also boost NGV adoption rates over the next four years.
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Next generation fuel injectors and adsorbent natural gas tank to increase range of NGV
The OEMs in the automotive industry are launching second-generation high-pressure direct fuel injectors that can be installed in heavy duty trucks. These new systems are cost-effective than the previous systems and enhance the performance and efficiency of an LNG-powered engine. This new generation fuel injectors for LNG-powered engines will provide power, fuel efficiency, and torque comparable to diesel engines.
Introduction of multi-fuel engines
Several manufacturers in the market are focusing on the development of engines that are compatible with many fuels. These engines will be designed to run on diesel or gasoline and to switch to CNG during operation. These engines will be capable of running on each fuel separately, or a mixture of both fuels and can switch between alternate fuel types either manually or automatically.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Light and Heavy Duty Natural Gas Vehicle Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Commercial Vehicle Remote Diagnostics Market 2017-2021
- Global Natural Gas Refueling Stations Market 2016-2020
- Global Hybrid Commercial Vehicle Market 2016-2020
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