CNG truck market is anticipated to grow at a considerable CAGR of 5.0% during the forecast period (2023-2030). The growth of the market is attributed to factors such as the increasing adoption of eco-friendly transportation solutions and the need to reduce carbon emissions. Moreover, the demand for CNG trucks is expected to rise in various end-user industries, including transport, construction, mining, and agriculture, which will fuel the market growth. For instance, the mining sector is witnessing a surge in the adoption of CNG trucks due to their lower emissions and cost-effective fuel options. In addition, turbocharged engines are preferred in CNG trucks owing to their ability to enhance power, efficiency, and performance. The turbocharger increases air pressure, improving fuel combustion and reducing consumption. This technology enables CNG engines to maintain performance at high altitudes and reduces emissions, making them environmentally friendly. For instance, in June 2022, Ashok Leyland launched the ecomet STAR 1115 CNG truck, which is equipped with a 144 HP turbocharged engine and has a cylinder capacity ranging from 300 to 400 litres. The truck has a gross vehicle weight of 11,500 kg and offers a wide variety of load options ranging between 17-22 feet. The CNG cylinder capacity of the truck is between 300 to 400 litres.
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The global CNG truck market is divided into regions, namely North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World, encompassing the Middle East & Africa, and Latin America. The market can be analysed for a particular region or country level as per the requirement. Among these regions, Europe is expected to experience substantial growth, owing to strict emission regulations and government incentives promoting the adoption of CNG as a cleaner fuel alternative. The Asia-Pacific region is also projected to witness significant growth during the forecast period, driven by the increasing adoption of CNG trucks in emerging economies and the growing focus on sustainable transportation solutions.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global CNG Truck Market by Type
- Special Fuel
- Dual Fuel
Global CNG Truck Market by Application
- Light-Duty Vehicle
- Medium-Duty Vehicle
- Heavy-Duty Vehicle
Global CNG Truck Market by Technology
- Manual
- Semi-Automatic
- Automatic
Global CNG Truck Market by End-User Industry
- Transport
- Construction
- Mining
- Agriculture
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Ashok Leyland
- Beiqi Foton Motor Co Ltd
- Daimler Truck AG
- Dongfeng Motor Corp.
- Freightliner Custom Chassis Corp.
- Hino Motors, Ltd.
- Isuzu Motors Ltd.
- Iveco
- JAC Motors
- Kenworth Truck Co.
- Mack Trucks
- MAN Truck & Bus AG
- Navistar International Corp.
- Oshkosh Corporation
- Peterbilt Motors Co.
- Scania AB
- Shaanxi Automobile Group
- Western Star Trucks
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global CNG trucks market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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