Global Medium-heavy Duty CNG and LNG Truck Market is part of Frost & Sullivan's Automotive & Transportation Growth Partnership Subscription and finds that China, Europe and North America will account for approximately 83.4 percent of the global NG truck sales in 2025. Asia will benefit from the oversupply of LNG. Other topics covered under the subscription include medium- and heavy-duty NG truck product portfolio, engine portfolio, vocation wise NG penetration, Ignition Technology, key influencing trends in next big adopters of NG vehicles.
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Although the market is set to enjoy a double-digit growth rate, the higher cost of acquisition, low oil prices, and lack of government subsidies could give commercial fleet owners a pause. In due course, technological advancements and improved scalability will help OEMs lower the initial cost of vehicles and encourage fleet owners to ply NG trucks.
"Cummins, FPT and Weichai will be key Tier 1 engine suppliers shaping the future of the NG market across developed markets, with an extensive NG engine portfolio for a wide variety of duty cycle applications," noted Sudhakar. "While CNG trucks currently hold a higher percentage of the market share, LNG may dethrone CNG by 2025 due to the greater penetration of long-haul trucks."
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Global Medium-heavy Duty CNG and LNG Truck Market
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SOURCE Frost & Sullivan