#Compressed Natural Gas Vehicles Market Trends

[mordormr]

Fueling the Future: Key Trends in the Automotive Fuel Tank Market

The automotive fuel tank market is evolving rapidly, driven by innovations in materials, design, and environmental regulations. According to Mordor Intelligence, The Automotive Fuel Tank Market is projected to be valued at USD 19.23 billion in 2024 and is expected to grow to USD 24.31 billion by 2029, with a compound annual growth rate (CAGR) of 4.80% during the forecast period (2024-2029). The demand for more efficient, lightweight, and eco-friendly fuel tank solutions is pushing manufacturers to explore new technologies and materials, transforming the industry.

Key Trends Shaping the Automotive Fuel Tank Market

Shift Toward Lightweight Materials One of the most significant trends in the automotive fuel tank market is the increasing use of lightweight materials such as plastic and composite materials. Traditional steel fuel tanks are gradually being replaced by plastic variants, which offer reduced weight, improved fuel efficiency, and better corrosion resistance. The use of high-density polyethylene (HDPE) in fuel tank production is particularly notable, as it offers flexibility, durability, and cost-effectiveness, helping automakers meet stringent fuel efficiency and emission standards.

Focus on Emission Regulations and Fuel Efficiency The automotive industry is under increasing pressure to comply with global emissions regulations, such as the Corporate Average Fuel Economy (CAFE) standards and Euro 6 emission norms. These regulations aim to reduce greenhouse gas emissions and improve fuel efficiency. As a result, manufacturers are developing fuel tanks that can withstand higher pressures, store alternative fuels, and incorporate features that minimize fuel evaporation. Evaporative emission control systems (EVAP) are becoming more common, helping to curb emissions and meet regulatory requirements.

Rising Demand for Alternative Fuels The push for alternative fuels such as compressed natural gas (CNG), liquefied petroleum gas (LPG), and hydrogen is reshaping the fuel tank industry. Specially designed fuel tanks are required to safely store and transport these fuels, leading to the development of reinforced composite tanks and multi-layer plastic tanks. As governments and consumers increasingly adopt cleaner fuels, the demand for alternative fuel tanks is expected to rise, presenting new opportunities for market growth.

Growth of Hybrid and Electric Vehicles The rise of hybrid and electric vehicles (EVs) is impacting the automotive fuel tank market. While EVs do not require traditional fuel tanks, hybrid vehicles still rely on fuel storage systems. However, the size and capacity of fuel tanks in hybrid vehicles are often smaller due to the presence of electric powertrains. This has led to a shift in the design and production of fuel tanks, focusing on compact, lightweight solutions that can fit into the limited space available in hybrid vehicles. Although the increasing penetration of EVs may slow the overall growth of the fuel tank market, hybrid vehicles will continue to drive demand for fuel storage systems.

Technological Advancements in Fuel Tank Design Innovations in fuel tank design are also shaping the market. Modern fuel tanks are being designed with advanced features such as modular fuel tank systems, which allow for easier installation and maintenance. Additionally, the integration of fuel level sensors, pressure management systems, and anti-leakage technologies is improving the overall performance and safety of fuel tanks. Manufacturers are investing in research and development to create more efficient and reliable fuel storage solutions that meet the needs of modern vehicles.

Regional Growth and Emerging Markets The Asia-Pacific region, particularly China, India, and Japan, is expected to experience significant growth in the automotive fuel tank market due to the rising demand for vehicles and increasing fuel efficiency regulations. North America and Europe are also witnessing growth, driven by the shift toward lightweight materials and alternative fuel adoption. Emerging markets in Latin America and Africa are presenting opportunities for manufacturers to expand their presence as vehicle ownership rises in these regions.

Conclusion

The automotive fuel tank market is set for steady growth in the coming years, driven by advancements in materials, environmental regulations, and the rising demand for alternative fuels. As the industry focuses on improving fuel efficiency, reducing emissions, and integrating new technologies, manufacturers must adapt to meet the evolving needs of the automotive sector. Lightweight, durable, and eco-friendly fuel tank solutions will be key to sustaining market growth, while innovations in design and technology will continue to shape the future of the industry.

With increasing investments in research and development and the global push for cleaner, more efficient transportation solutions, the automotive fuel tank market holds significant opportunities for growth and innovation. https://www.mordorintelligence.com/industry-reports/automotive-fuel-tank-market

[chemanalystdata]

Liquid Carbon Dioxide Prices | Pricing | Trend | News | Database | Chart | Forecast

Liquid carbon dioxide (CO2) prices refer to the cost of carbon dioxide in its liquid form, which is utilized across various industries for numerous applications. As carbon dioxide is a naturally occurring compound, it is typically a byproduct of industrial processes such as power generation, fermentation, and petrochemical refining. However, the capture, purification, and liquefaction of carbon dioxide incur costs, which are passed along the supply chain and reflected in liquid CO2 prices. Liquid CO2 has a wide array of uses, including in the food and beverage industry for carbonation, refrigeration, and freezing, as well as in chemical production, oil recovery, and even agriculture. With an increasing global focus on reducing carbon emissions and implementing carbon capture technologies, liquid CO2 prices are becoming more significant, particularly as companies aim to repurpose captured carbon dioxide in productive ways.

The pricing of liquid carbon dioxide is influenced by several factors, including the cost of production, transportation, and storage. Capturing CO2 from industrial processes typically involves technologies such as chemical absorption, membrane filtration, or physical separation, all of which have associated costs. Once captured, CO2 must be purified to meet the required standards for its intended use, whether in food production or other industries. The liquefaction process itself involves cooling the gas to its critical point and compressing it into a liquid state, which requires significant energy. These operational costs are one of the primary drivers behind liquid CO2 prices. Furthermore, the location of the CO2 source relative to where it will be used also impacts pricing due to transportation costs. Transporting liquid carbon dioxide requires specialized insulated containers and vehicles to maintain its low temperature and pressure, which adds to the overall expense. Companies that are closer to CO2 production facilities often benefit from lower prices, while those further away face higher transportation costs.

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In addition to production and logistics costs, liquid carbon dioxide prices are also subject to market demand. Industries such as food and beverage manufacturing, oil and gas, and chemical production are major consumers of liquid CO2. For instance, carbon dioxide is widely used to carbonate soft drinks, create dry ice for refrigeration, and in modified atmosphere packaging to extend the shelf life of fresh produce. In enhanced oil recovery (EOR), liquid CO2 is injected into oil reservoirs to increase extraction rates. When demand from these industries rises, such as during peak production periods or due to technological advancements in CO2 utilization, prices tend to increase. Conversely, when demand is lower, prices may drop. Fluctuations in the supply chain, such as disruptions in CO2 production facilities or transportation networks, can also lead to price volatility.

The environmental and regulatory landscape surrounding carbon dioxide also plays a critical role in determining liquid CO2 prices. As the world increasingly shifts towards carbon reduction strategies, carbon capture, utilization, and storage (CCUS) technologies have gained attention. These technologies capture CO2 emissions from industrial processes, preventing them from entering the atmosphere, and either store the captured carbon underground or repurpose it for commercial uses such as creating liquid CO2. The adoption of CCUS technology could lead to a more abundant supply of captured carbon dioxide, potentially lowering liquid CO2 prices. However, the costs associated with scaling up CCUS infrastructure and ensuring compliance with environmental regulations might also place upward pressure on prices in the short term. Government policies aimed at reducing greenhouse gas emissions could also influence CO2 prices by incentivizing industries to capture more carbon or by imposing penalties on high emitters, thereby affecting both the supply and demand for liquid CO2.

A growing area of interest in the context of liquid carbon dioxide pricing is the development of green or low-carbon CO2. This involves capturing carbon dioxide from renewable sources or through sustainable processes that result in lower overall emissions. Green CO2 could command a premium price, as businesses, particularly in the food and beverage sectors, look for ways to reduce their carbon footprint and appeal to environmentally conscious consumers. The cost of producing green CO2, however, is currently higher due to the nascent state of the technology and the infrastructure required. As demand for more sustainable CO2 solutions increases, it is likely that the price of green CO2 will become a more significant component of the broader liquid carbon dioxide market.

The impact of global events and market trends also cannot be overlooked when considering liquid CO2 prices. For example, disruptions in the supply of raw materials or the shutdown of industrial plants due to geopolitical events, natural disasters, or even pandemics can cause temporary shortages of liquid CO2, leading to price spikes. Similarly, changes in global energy prices can affect the cost of producing and transporting liquid CO2, as energy is a major input in both the liquefaction and distribution processes. Companies reliant on liquid CO2 for their operations must remain agile in their pricing strategies and supply chain management to adapt to these external factors.

Looking to the future, the intersection of liquid CO2 pricing and carbon markets may become increasingly important as businesses and governments work to achieve ambitious carbon reduction goals. Carbon markets, which assign a price to greenhouse gas emissions, could influence the cost of liquid CO2 in several ways. If carbon credits become more expensive, industries that emit large quantities of CO2 may face increased costs, making the capture and sale of liquid CO2 more economically attractive. Additionally, as more companies look for ways to offset their emissions through the purchase of captured carbon, the demand for liquid CO2 could rise, impacting prices. At the same time, advancements in carbon capture technologies may lower the cost of producing liquid CO2, contributing to more stable pricing over the long term.

Overall, liquid carbon dioxide prices are shaped by a complex interplay of production costs, market demand, environmental policies, and global trends. Industries that rely on liquid CO2 must navigate this dynamic pricing environment while balancing the need for a reliable supply with the desire to control costs. As the global focus on sustainability continues to grow, liquid CO2 pricing is likely to evolve in response to new technologies, regulatory frameworks, and market forces. This creates both challenges and opportunities for businesses across sectors, particularly those looking to leverage carbon dioxide in innovative and environmentally friendly ways. By understanding the factors that influence liquid CO2 prices, companies can better position themselves to manage costs and capitalize on emerging trends in the carbon economy.

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[businessindustry]

Ignition Coil Market Technological Trends and Future Threats Analysis by 2024-2032

The Reports and Insights, a leading market research company, has recently releases report titled “Ignition Coil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Ignition Coil Market Size share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Ignition Coil Market?

The global ignition coil market size was US$ 2.7 Billion in 2022. Furthermore, the market is expected to register a revenue CAGR of 4.8% during the forecast period and reach a market size of US$ 4.1Bn in 2031.

What are Ignition Coil?

An ignition coil plays a vital role in the ignition system of an internal combustion engine, converting the low voltage from the battery into the high voltage necessary to produce a spark in the spark plugs. This spark initiates the combustion process by igniting the fuel-air mixture in the engine's cylinders, powering the vehicle. Operating on electromagnetic induction principles, the ignition coil comprises a primary coil winding that receives the low voltage and a secondary coil winding that generates the high voltage.

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What are the growth prospects and trends in the Ignition Coil industry?

The ignition coil market growth is driven by various factors and trends. The ignition coil market is on a stable growth trajectory globally, propelled by the growing automotive industry worldwide. These coils are indispensable for ensuring efficient engine ignition in gasoline-powered vehicles. Technological advancements, including the introduction of sophisticated ignition systems that enhance fuel efficiency and lower emissions, are further fueling market growth. Moreover, the increasing popularity of electric vehicles is opening up new avenues for ignition coil manufacturers, as these vehicles still rely on ignition systems for specific functions. With the automotive sector evolving towards more efficient and environmentally friendly vehicles, the ignition coil market is poised for continued expansion. Hence, all these factors contribute to ignition coil market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Conventional Ignition Coils

Distributor Ignition Coils

Coil-on-Plug Ignition Coils

Smart Ignition Coils

Vehicle Type:

Passenger Cars

Light Commercial Vehicles (LCVs)

Heavy Commercial Vehicles (HCVs)

Electric Vehicles (EVs)

Technology:

Conventional Ignition Systems

Capacitive Discharge Ignition (CDI) Systems

Electronic Ignition Systems

Distributorless Ignition Systems (DIS)

Sales Channel:

Original Equipment Manufacturers (OEMs)

Aftermarket

Application:

Gasoline Engines

Diesel Engines

Compressed Natural Gas (CNG) Engines

Others

Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Who are the key players operating in the industry?

The report covers the major market players including:

Bosch

Denso Corporation

Delphi Technologies (now part of BorgWarner)

NGK Spark Plug Co., Ltd.

Valeo

Standard Motor Products, Inc.

Hitachi Automotive Systems

Federal-Mogul (now part of Tenneco)

Mitsubishi Electric Corporation

ACDelco (a division of General Motors)

Bremi Fahrzeug-Elektrik GmbH & Co. KG

Hella GmbH & Co. KGaA

Continental AG

SMP Deutschland GmbH (formerly BERU)

Mitsubishi Electric Automotive America, Inc.

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[creativeera]

CNG Compressors Market Propelled by Growing Adoption of Natural Gas Vehicles

The global CNG compressors market is primarily driven by the growing demand for natural gas as an automotive fuel owing to its lower operational costs and environmental benefits compared to gasoline and diesel. CNG compressors play a vital role in fuelling stations by compressing natural gas for dispensing in vehicles. These compressors help in boosting the pressure of natural gas from low- to high-pressure natural gas. CNG compressors are used across light, medium, and heavy-duty vehicle segments including passenger cars, buses, trucks, and others. The growing fleet of natural gas vehicles worldwide is augmenting the demand for CNG compressors. The CNG compressors market size is expected to reach US$ 5.15 Bn by 2030, from US$ 3.79 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period.

CNG compressors help in providing cleaner fuel for transportation and power generation at affordable prices. Their corrosion resistant design allows reliable performance in harsh industrial environments. Additionally, they reduce operating costs by increasing the gas pressure thus improving the engine performance while lowering greenhouse gas emissions. Key Takeaways Key players operating in the CNG compressors market are Atlas Copco, Ariel Corporation, Siemens Energy, Galileo Technologies, Bauer Compressors, Ingersoll Rand, ANGI Energy Systems, Clean Energy Compression, CIMC Enric Holdings Limited, J W Energy Company, Elliott Company, CandB Pumps and Compressor LLC, GE Oil and Gas, and Associated Compressor Engineers. The growing CNG Compressors Market Demand for natural gas as an eco-friendly automotive fuel from light to heavy-duty vehicle segments is driving the CNG compressors market. Various government initiatives and policies promoting natural gas vehicles further boost the demand. Global expansion of key equipment manufacturers into developing regions through partnerships and new production facilities will expand the outreach of CNG compressors. Rising environmental awareness and stringent emission norms especially in Asia Pacific and Middle East & Africa are some prominent drivers. Market Key Trends The increasing adoption of natural gas trucks and buses for both public and commercial transport across regions like Europe, North America, and Asia Pacific is a major trend propelling the CNG compressors market. Natural gas provides significant operational cost benefits for fleet owners and reduces dependency on costly diesel. Stringent emission standards as well as tax exemptions and other incentives by governments encourage the shift towards CNG Compressors Companies CNG vehicles. This in turn augments the demand for CNG compressors from OEMs and fuelling stations globally.

Porter's Analysis Threat of new entrants: The CNG compressors market requires large capital investments and established distribution channels. This poses significant barriers for new companies. Bargaining power of buyers: Buyers have moderate power as CNG compressors have different production sizes and applications. However, established brands offers quality products. Bargaining power of suppliers: A few large suppliers dominate the global compressor manufacturing industry. This grants them significant influence over prices of compressor components. Threat of new substitutes: No direct substitutes exist for CNG compressors. Alternatives like electric and hydrogen vehicles are still niche. Competitive rivalry: The market is concentrated, with top players holding major shares. However, price and technology differentiation increase competition. Geographical Regions North America currently holds the largest share of the global CNG compressors market, both in terms of value and volume. Stringent emission norms coupled with tax incentives for natural gas vehicles support the regional market growth. Asia Pacific is projected to be the fastest growing regional market through 2031. Rapid infrastructure development and government initiatives to popularize natural gas as an automotive fuel stimulate demand across developing nations like China and India.

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[immensetruckingsolutionsltd]

Driving Innovation: The Future of the Tanker Truck Market

The tanker truck market is at a pivotal juncture, where rapid advancements in technology and shifting industry demands are reshaping the landscape of transportation services. As businesses and consumers prioritize efficiency, safety, and sustainability, trucking companies are stepping up to embrace innovations that enhance operational performance and contribute to a greener future. This article explores the latest trends and technologies driving innovation in the tanker truck market, highlighting the implications for transportation services and the broader logistics industry.

The Role of Technology in Transportation Services

Technology has become the backbone of modern transportation services, especially within the tanker truck sector. Innovations are emerging across various facets of operations, from fleet management to safety enhancements. Here are some key technological advancements that are redefining the tanker truck industry:

Telematics and Fleet Management Systems: These systems provide real-time data on vehicle performance, driver behavior, and maintenance needs. Enhanced visibility into fleet operations allows for more informed decision-making, efficiency, and cost savings.

Electronic Logging Devices (ELDs): ELDs have become compulsory for many trucking companies, ensuring compliance with Hours of Service (HOS) regulations. These devices automate the tracking of driving hours, enhancing safety and reducing the risk of violations. By streamlining record-keeping, ELDs also free up drivers to focus on delivering quality transportation services.

Advanced Safety Features: Innovations in safety technology, such as collision avoidance systems, lane departure warnings, and automatic braking, are becoming standard in tanker trucks. These features protect drivers and cargo and contribute to overall road safety. As safety regulations become increasingly stringent, adopting these technologies can help trucking companies stay compliant while providing peace of mind to their clients.

Embracing Sustainability

Sustainability is a pressing concern in today’s logistics landscape. With increasing scrutiny on carbon emissions and environmental impact, trucking companies have methods to reduce their ecological footprint. The following innovations are paving the way for a more sustainable tanker truck market:

Alternative Fuels: Alternative fuels, such as biodiesel, compressed natural gas (CNG), and electric power, are gaining momentum in the tanker truck industry. These fuels produce fewer emissions than traditional diesel, making them a more environmentally friendly option. As technology advances, electric and hybrid tanker trucks are becoming viable alternatives, promising a significant reduction in greenhouse gas emissions.

Fuel Efficiency Technologies: Innovative technologies improving fuel efficiency are also rising. From aerodynamic designs and lightweight materials to fuel-efficient engines, these advancements help trucking companies maximize operational efficiency while minimizing fuel consumption. Investing in fuel-efficient tanker trucks can achieve substantial cost savings and reduce their environmental impact.

Sustainable Practices in Operations: Beyond vehicle technology, trucking companies are adopting sustainable practices throughout their operations. It includes optimizing routes to reduce mileage, executing training programs focused on eco-friendly driving techniques, and investing in energy-efficient facilities. By fostering a culture of sustainability, companies can enhance their brand reputation and appeal to environmentally conscious clients.

The Impact of Regulatory Changes

Regulatory changes are another driving force shaping the future of the tanker truck market. Governments worldwide are implementing stricter regulations to ensure safety and environmental protection. Trucking companies must stay informed and adapt to these changes to remain competitive. Some regulatory trends include:

Emissions Standards: Stricter emissions standards to fight air pollution and climate change. Trucking companies that embrace cleaner technologies and fuels can not only comply with regulations but also position themselves as leaders in sustainability.

Safety Regulations: Enhanced safety regulations to protect drivers, cargo, and the public. Innovations in safety technology, as mentioned earlier, will play a crucial role in helping companies meet these requirements and avoid costly penalties.

Hazardous Materials Regulations: Tanker trucks transport materials, and compliance with regulations is paramount. Companies must ensure that their vehicles and drivers meet all safety and training standards to minimize risks associated with transporting dangerous goods.

The Importance of Data Analytics

Data analytics is becoming a valuable tool for trucking companies looking to optimize their transportation services. By harnessing the power of big data, companies can gain insights into various aspects of their operations, from route optimization to driver performance. Here’s how data analytics is driving innovation in the tanker truck market:

Predictive Maintenance: By analyzing data from telematics systems, trucking companies can identify potential maintenance issues before they become critical. Predictive maintenance reduces downtime, lowers repair costs, and enhances fleet reliability.

Route Optimization: Advanced analytics can analyze traffic patterns, weather conditions, and fuel prices to determine the most efficient routes for tanker trucks. It saves time and fuel and ensures timely deliveries, enhancing customer satisfaction.

Performance Metrics: Data analytics allows companies to track key performance indicators (KPIs) such as fuel efficiency, delivery times, and driver performance.

The Future of the Tanker Truck Market

As we look to the future, the tanker truck market will continue to evolve in response to technological advancements, regulatory changes, and shifting consumer demands. Trucking companies that embrace innovation and prioritize sustainability will be well-positioned to thrive in this competitive landscape.

The integration of cutting-edge technologies, a commitment to eco-friendly practices, and a focus on safety and compliance will shape the future of transportation services. By staying ahead of the curve and adapting to industry trends, trucking companies can meet the demands of today’s market and drive the industry forward into a more efficient and sustainable future.

Innovation is the key to unlocking the potential of the tanker truck market. By investing in technology, embracing sustainability, and leveraging data analytics, trucking companies can enhance their transportation services and position themselves for long-term success in an ever-changing landscape. The future is bright for those willing to drive change and lead the way in this vital sector of the economy.

[sjsuraj]

Driving the Future: Transformative Trends in the Oil Fuel Mobility Market

Oil Fuel Mobility Market was valued at US$ 1,384.71 billion in 2022 and is projected to reach US$ 3,202.03 billion by 2030, growing at a CAGR of 11.11% from 2023 to 2030.

This comprehensive research study on the global Oil Fuel Mobility market gives detailed insights into the sector, offering a detailed analysis of market trends, prominent drivers, and future growth prospects. In order to make wise business decisions, it gives readers an extensive understanding of the market environment. Furthermore, the report covers several aspects, such as estimated market sizing, strategies employed by leading companies, restraining factors, and challenges faced by market participants.

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Market Forecast and Trends

The report's precise market forecasts and identification of emerging trends will allow readers to foresee the industry’s future and outline their tactics for the following years accordingly. Understanding market trends can help in gaining a competitive edge and staying ahead in a fast-paced business environment.

Regional and Segment Analysis

The study on the global Oil Fuel Mobility market will aid industry participants find high-growth regions and profitable market segments through region-specific and segment-by-segment analysis. This information helps in implementing better marketing strategies and product lineups to meet the preferences and needs of various target audiences. The major regions covered in this comprehensive analysis include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Investment and Expansion Opportunities

The research report supports strategic decision-making by revealing prospective areas for investment and business growth in the global Oil Fuel Mobility market. This report is a great tool for finding markets that are foreseen to grow substantially for aiding readers who want to expand into new and untapped markets or launch new products.

Competitive Analysis

The research report comprises an in-depth competitive analysis, which profiles major market competitors and evaluates their tactics, weaknesses, and market shares. These key players employ top business strategies, such as partnerships, alliances, mergers, acquisitions, product innovations, and product development, to establish a competitive advantage. Industry participants may use this information to measure their business against rivals and develop winning strategies for distinguishing themselves in the market.

Why Buy This Report?

Obtain an in-depth understanding of market trends and growth catalysts.

Utilize precise market forecasts for informed decision-making.

Outperform competitors through extensive competitive analysis.

Identify and leverage profitable regional and segment prospects.

Strategically plan investments and expansions in the global Oil Fuel Mobility market

The major players in the Oil Fuel Mobility Market are:

Royal Dutch Shell Plc

Exxon Mobil Corporation

Chevron Corporation

BP Plc

TotalEnergies

Valero Energy Corporation

Marathon Petroleum Corporation

Phillips 66 Company

Indian Oil Corporation Ltd

China National Petroleum Corporation

The global Oil Fuel Mobility Market is segmented as:

By Vehicle Type

Passenger Cars

Commercial Vehicles

Two-Wheelers

Others

By Fuel Type

Gasoline

Diesel

Compressed Natural Gas (CNG)

Liquefied Petroleum Gas (LPG)

Biodiesel

Others

By End User

Transportation and Logistics

Agriculture

Construction

Mining

Others

By Region

North America

U.S.

Canada

Mexico

Europe

France

U.K.

Spain

Germany

Italy

Russia

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Rest of Asia Pacific

Middle East & Africa

GCC

North Africa

South Africa

Rest of Middle East & Africa

Latin America

Brazil

Argentina

Rest of Latin America.

[gqresearch24]

Reciprocating CNG Compressor Market Outlook Report 2024-2031: Trends, Strategic Insights, and Growth Opportunities | GQ Research

The Reciprocating CNG Compressor Market is set to witness remarkable growth, as indicated by recent market analysis conducted by GQ Research. In 2023, the global Reciprocating CNG Compressor Market showcased a significant presence, boasting a valuation of US$ 3.5 billion. This underscores the substantial demand for Acetophenone technology and its widespread adoption across various industries.

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Projected Growth: Projections suggest that the Reciprocating CNG Compressor Market will continue its upward trajectory, with a projected value of US$ 6.0 billion by 2031. This growth is expected to be driven by technological advancements, increasing consumer demand, and expanding application areas.

Compound Annual Growth Rate (CAGR): The forecast period anticipates a Compound Annual Growth Rate (CAGR) of 4.6%, reflecting a steady and robust growth rate for the Reciprocating CNG Compressor Market over the coming years.

Technology Adoption:

The reciprocating CNG (Compressed Natural Gas) compressor market is witnessing substantial technology adoption aimed at enhancing efficiency, reliability, and sustainability. Modern reciprocating CNG compressors are integrating advanced control systems, real-time monitoring, and predictive maintenance technologies to optimize performance and reduce downtime. The adoption of Internet of Things (IoT) technologies allows for better remote monitoring and control, providing detailed analytics and diagnostics to prevent failures and enhance operational efficiency. Additionally, advancements in materials and design, such as the use of lightweight and durable components, are improving compressor performance and lifespan.

Application Diversity:

Reciprocating CNG compressors are utilized in a variety of applications across multiple sectors. They play a critical role in the automotive industry for fueling CNG vehicles, which are gaining popularity as a cleaner alternative to gasoline and diesel-powered vehicles. Industrial applications include use in manufacturing processes, power generation, and as part of distributed energy systems. Moreover, they are essential in the oil and gas sector for gas pipeline transportation, gas storage, and gas processing facilities. The diversity of applications underscores the importance of these compressors in supporting the transition to cleaner energy sources.

Consumer Preferences:

Consumer preferences in the reciprocating CNG compressor market are shifting towards more energy-efficient, reliable, and low-maintenance solutions. There is a growing demand for compressors that offer high performance with minimal environmental impact. Consumers prefer equipment with advanced features such as automated controls, remote monitoring capabilities, and energy-saving technologies. Additionally, the preference for modular and scalable compressor systems that can be easily upgraded or expanded to meet changing needs is increasing. Safety features and compliance with stringent environmental and safety regulations are also key considerations for consumers.

Technological Advancements:

Technological advancements are driving the evolution of reciprocating CNG compressors. Innovations include the development of more efficient compression mechanisms, improved cooling systems, and enhanced lubrication techniques that reduce wear and tear. The integration of variable frequency drives (VFDs) allows for better control over compressor speed and efficiency, adapting to fluctuating demand. Advanced materials, such as high-strength alloys and composites, are being used to enhance the durability and performance of compressor components. Additionally, digital twin technology is being employed to simulate and optimize compressor performance, facilitating proactive maintenance and reducing operational costs.

Market Competition:

The reciprocating CNG compressor market is highly competitive, with several key players striving to gain market share through innovation and strategic partnerships. Major companies such as Ariel Corporation, Dresser-Rand, and Atlas Copco are investing heavily in research and development to bring cutting-edge products to the market. Competition is also driven by factors such as product reliability, after-sales service, and cost-effectiveness. Smaller and regional players are focusing on niche markets and customized solutions to differentiate themselves. Strategic alliances, mergers, and acquisitions are common as companies seek to expand their market presence and technological capabilities.

Environmental Considerations:

Environmental considerations are playing an increasingly significant role in the reciprocating CNG compressor market. The shift towards natural gas as a cleaner fuel alternative is driving demand for compressors that are more environmentally friendly. Manufacturers are focusing on reducing the carbon footprint of their products by enhancing energy efficiency and minimizing emissions. Compliance with international environmental standards and regulations, such as the Euro VI standards for emissions, is becoming a key focus area. Additionally, there is a growing emphasis on sustainable manufacturing practices, including the use of recyclable materials and the implementation of eco-friendly production processes. The adoption of green technologies and practices not only helps in meeting regulatory requirements but also appeals to environmentally conscious consumers.

 Top of Form

Regional Dynamics: Different regions may exhibit varying growth rates and adoption patterns influenced by factors such as consumer preferences, technological infrastructure and regulatory frameworks.

Key players in the industry include:

Burckhardt Compression Holding AG

Howden Group Holdings Limited

Ariel Corporation

General Electric

Mayekawa Mfg. Co., Ltd

Gardner Denver Holdings, Inc.

IHI Corporation

Ingersoll Rand

Atlas Copco AB

SIEMENS AG.

 The research report provides a comprehensive analysis of the Reciprocating CNG Compressor Market, offering insights into current trends, market dynamics and future prospects. It explores key factors driving growth, challenges faced by the industry, and potential opportunities for market players.

For more information and to access a complimentary sample report, visit Link to Sample Report: https://gqresearch.com/request-sample/global-reciprocating-cng-compressor-market/   

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[grunerblog]

Key Considerations for Setting Up a Bio CNG Plant

As businesses and governments worldwide seek renewable energy solutions, bio Compressed Natural Gas (bio CNG) emerges as a compelling alternative due to its environmental and economic benefits. Gruner Renewable, a leader in sustainable energy technologies, explores the economic feasibility and return on investment (ROI) considerations vital for anyone looking to set up a bio C0NG plant. Understanding these financial metrics is crucial for making informed decisions and ensuring the long-term success of such ventures.

Economic Feasibility of Bio CNG Plants

setup a bio cng plant convert organic waste into renewable energy, offering a sustainable way to manage waste while producing energy. The economic feasibility of these plants depends on several factors that potential investors must consider:

Initial Capital Investment

The setup a bio cng plant can vary widely depending on the scale of the operation and the technology used. Initial expenses typically include land acquisition, construction of the plant, purchasing anaerobic digesters, and installing gas purification and compression systems. Gruner Renewable provides clients with customized solutions that balance technology needs with budget constraints, optimizing initial investments.

Operational Costs

Running a bio CNG plant involves ongoing expenses such as maintenance of equipment, labor, feedstock procurement, and energy consumption for plant operations. To minimize these costs, Gruner Renewable implements high-efficiency systems and automates processes where possible, reducing labor costs and increasing operational efficiency.

Return on Investment Considerations

Feedstock Availability and Cost

The availability and cost of organic waste material play a crucial role in determining the ROI of a bio CNG plant. Locating the plant near abundant, low-cost or even free feedstock sources can significantly reduce input costs and improve profitability. Gruner Renewable assists clients in establishing strong supply chains for organic waste, which is critical for ensuring a steady and economical feedstock supply.

Revenue Streams

setup a bio cng plant generate income primarily through the sale of bio CNG, which can be used as a fuel in vehicles or for heating purposes. Additionally, by-products such as digestate can be sold as organic fertilizers, adding another revenue stream. Understanding market demands and pricing strategies for bio CNG and by-products is essential for projecting potential income and calculating ROI.

Government Incentives and Subsidies

Many governments offer incentives for renewable energy projects, including tax breaks, grants, and subsidies, which can significantly enhance the economic viability of bio CNG plants. These incentives not only reduce the effective cost of the project but also accelerate the breakeven point, improving overall ROI. Gruner Renewable stays abreast of relevant incentives and helps clients navigate the application processes to maximize financial benefits.

Long-term Profitability and Market Trends

Market Demand for Renewable Energy

The growing demand for renewable energy sources is driving up the value of bio CNG, making investments in bio CNG plants increasingly profitable. Gruner Renewable conducts market analysis to help clients understand current trends and future demand in the renewable energy market, ensuring that their projects are aligned with market needs.

Technological Advances

Investing in the latest technology can improve the efficiency and output of bio CNG plants, directly impacting ROI. Gruner Renewable is committed to innovation, continually updating plant designs with the latest advancements in anaerobic digestion and gas purification technologies to maximize energy output and reduce waste.

Conclusion

Setting up a bio CNG plant involves considerable financial planning and strategic decision-making. By carefully evaluating the economic feasibility and potential ROI, businesses can ensure that their investment in bio CNG technology is both sustainable and profitable. Gruner Renewable is dedicated to supporting its clients through every step of this process, from initial feasibility studies to operational optimization, driving forward the global transition to renewable energy.

Call to Action

Are you considering investing in a bio CNG plant? Contact Gruner Renewable today to explore how we can help you achieve a successful and profitable bio CNG operation. Visit our website to learn more about our services and how we can assist you in making your renewable energy project a reality.

[electronalytics]

Low-Carbon Propulsion Market Research & Forecast till 2033

Low-Carbon Propulsion Market is expected to grow at a CAGR of 21.5% during the forecasting period 2024-2033.

The competitive analysis of the Low-Carbon Propulsion Market offers a comprehensive examination of key market players. It encompasses detailed company profiles, insights into revenue distribution, innovations within their product portfolios, regional market presence, strategic development plans, pricing strategies, identified target markets, and immediate future initiatives of industry leaders. This section serves as a valuable resource for readers to understand the driving forces behind competition and what strategies can set them apart in capturing new target markets.

Market projections and forecasts are underpinned by extensive primary research, further validated through precise secondary research specific to the Low-Carbon Propulsion Market. Our research analysts have dedicated substantial time and effort to curate essential industry insights from key industry participants, including Original Equipment Manufacturers (OEMs), top-tier suppliers, distributors, and relevant government entities.

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Market Segmentations:

Global Low-Carbon Propulsion Market: By Company • Tesla • BYD Company Ltd. • YUTONG • Nissan • Bombardier • Siemens • Alstom • Toyota • Honda Motor Co. Ltd. • Hyundai Motor Group Global Low-Carbon Propulsion Market: By Type • Heavy-Duty Vehicle • Light-Duty Vehicle Global Low-Carbon Propulsion Market: By Fuel Type • Compressed Natural Gas (CNG) • Liquefied Natural Gas (LNG) • Ethanol • Hydrogen • Electric

Regional Analysis of Global Low-Carbon Propulsion Market

All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Low-Carbon Propulsion market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Report Highlights:

Key Market Participants: The report delves into the major stakeholders in the market, encompassing market players, suppliers of raw materials and equipment, end-users, traders, distributors, and more.

Comprehensive Company Profiles: Detailed company profiles are provided, offering insights into various aspects including production capacity, pricing, revenue, costs, gross margin, sales volume, sales revenue, consumption patterns, growth rates, import-export dynamics, supply chains, future strategic plans, and technological advancements. This comprehensive analysis draws from a dataset spanning 12 years and includes forecasts.

Market Growth Drivers: The report extensively examines the factors contributing to market growth, with a specific focus on elucidating the diverse categories of end-users within the market.

Data Segmentation: The data and information are presented in a structured manner, allowing for easy access by market player, geographical region, product type, application, and more. Furthermore, the report can be tailored to accommodate specific research requirements.

SWOT Analysis: A SWOT analysis of the market is included, offering an insightful evaluation of its Strengths, Weaknesses, Opportunities, and Threats.

Expert Insights: Concluding the report, it features insights and opinions from industry experts, providing valuable perspectives on the market landscape.

Report includes Competitor's Landscape:

➊ Major trends and growth projections by region and country ➋ Key winning strategies followed by the competitors ➌ Who are the key competitors in this industry? ➍ What shall be the potential of this industry over the forecast tenure? ➎ What are the factors propelling the demand for the Low-Carbon Propulsion? ➏ What are the opportunities that shall aid in significant proliferation of the market growth? ➐ What are the regional and country wise regulations that shall either hamper or boost the demand for Low-Carbon Propulsion? ➑ How has the covid-19 impacted the growth of the market? ➒ Has the supply chain disruption caused changes in the entire value chain? Customization of the Report:

This report can be customized to meet the client’s requirements. Please connect with our sales team (sales@stringentdatalytics.com), who will ensure that you get a report that suits your needs. You can also get in touch with our executives on +1 346 666 6655 to share your research requirements.

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[gauricmi]

Sanitation Vehicles Market: Navigating the Path to Cleaner Cities

Key Takeaways:

The Sanitation Vehicles Market is witnessing significant growth owing to the increasing focus on cleanliness and waste management in urban areas. Key takeaways from the market indicate a rising demand for sanitation vehicles equipped with advanced technologies to improve efficiency and sustainability. Municipalities and waste management companies are investing in modern sanitation vehicles to enhance waste collection, recycling, and disposal processes. Additionally, the adoption of electric and hybrid sanitation vehicles is on the rise, driven by environmental regulations and the need to reduce carbon emissions. Overall, the market presents lucrative opportunities for manufacturers to innovate and cater to the evolving needs of the sanitation sector.

The Global Sanitation Vehicle Market Size was valued at US$ 15.44 Bn in 2024 and is expected to reach US$ 16.66 Bn by 2031 at a CAGR of 5.4% between 2024 and 2031.

Market Key Trends:

Several key trends are shaping the Sanitation Vehicles Market. One notable trend is the integration of smart technologies and IoT-enabled solutions in sanitation vehicles to optimize operations and improve service delivery. These technologies enable real-time monitoring of vehicle performance, route optimization, and predictive maintenance, resulting in cost savings and enhanced productivity. Another trend is the emphasis on sustainable waste management practices, driving the development of eco-friendly sanitation vehicles powered by alternative fuels such as compressed natural gas (CNG) or hydrogen. Furthermore, there is a growing focus on modular and customizable sanitation vehicle designs to accommodate various waste collection and disposal requirements.

Porter's Analysis:

Conducting a Porter's analysis provides insights into the competitive dynamics and market forces at play in the Sanitation Vehicles Market. The bargaining power of suppliers in the market is moderate, influenced by factors such as the availability of raw materials, technological expertise, and regulatory compliance. The threat of new entrants is relatively low due to high capital requirements, stringent safety and environmental standards, and established relationships with municipal authorities. Buyer power varies depending on factors such as purchase volume, contract terms, and the availability of alternative sanitation solutions. Intense rivalry among existing competitors drives innovation and product differentiation to gain a competitive edge in the market.

Geographical Regions:

Geographical regions play a crucial role in shaping the Sanitation Vehicles Market, with different regions exhibiting varying levels of demand and market dynamics. Developed regions such as North America and Europe are major markets for sanitation vehicles, driven by strict environmental regulations, robust waste management infrastructure, and high urbanization rates. Emerging economies in Asia-Pacific, Latin America, and Africa present significant growth opportunities fueled by rapid urbanization, rising disposable incomes, and government initiatives to improve sanitation infrastructure. Additionally, regions prone to natural disasters or health crises often witness increased demand for sanitation vehicles to support emergency response and disaster recovery efforts, further driving market growth.

Get More Insights On This Topic; Sanitation Vehicles Market

[globalinsightsservices]

Automotive Natural Gas Vehicle Market Introducing New Industry Dynamics Through Swot Analysis [2024 – 2033]

Market Definition

A natural gas vehicle (NGV) is a vehicle that uses compressed natural gas (CNG) or liquefied natural gas (LNG) as a fuel. CNG is made by compressing methane, a main component of natural gas, to less than 1 percent of its volume at standard atmospheric pressure. LNG is made by cooling methane to -162°C (-260°F), at which point it becomes a liquid.

Market Outlook

The key trends in Automotive Natural Gas Vehicle technology are the increasing use of compressed natural gas (CNG) and liquefied natural gas (LNG) as fuel for vehicles, and the development of new technologies to improve the efficiency of natural gas vehicles (NGVs).

CNG is increasingly being used as a fuel for vehicles due to its lower emissions of carbon dioxide, nitrogen oxides, and particulate matter than gasoline or diesel. CNG is also less expensive than gasoline, making it an attractive option for many consumers.

LNG is also being used more as a fuel for vehicles due to its low emissions and its ability to be stored and transported more easily than CNG. LNG is also less expensive than gasoline.

New technologies are being developed to improve the efficiency of NGVs. These technologies include the use of lighter materials for the construction of NGVs, the use of turbochargers and other engine modifications to improve engine efficiency, and the use of alternative fuel sources such as biogas.

The trend toward the use of NGVs is expected to continue as the benefits of these vehicles become more widely known and as the technology continues to improve.

The automotive natural gas vehicle market is primarily driven by the need to reduce environmental pollution and dependence on imported oil. Natural gas is a cleaner burning fuel than gasoline or diesel, and thus helps to reduce emissions of harmful pollutants such as carbon dioxide, nitrogen oxides, and particulate matter.

Additionally, natural gas is a domestic energy source, which reduces dependence on imported oil and helps to insulate the economy from volatile international oil prices.

One of the key restraints in the automotive natural gas vehicle market is the lack of a comprehensive infrastructure for natural gas refueling. In order for natural gas vehicles to proliferate, a robust and reliable infrastructure must be in place to support it.

Another key challenge is the high cost of natural gas vehicles relative to gasoline vehicles. Natural gas vehicles typically cost more to purchase and maintain than gasoline vehicles, which can act as a deterrent for consumers.

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Research Objectives

Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region

Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling

Identify factors influencing market growth and challenges, opportunities, drivers and restraints

Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates

Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities

Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market

To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.

Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives

Market Segmentation

The Automotive Natural Gas Vehicle Market is segmented by fuel type, vehicle type and region. By fuel type, the market is divided into compressed natural gas and liquefied natural gas. By vehicle type, the market is bifurcated into passenger vehicles and commercial vehicles. By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world.

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Major Players

The key players in the Automotive Natural Gas Vehicle Market are Ford Motors, Peugeot, Volvo, BMW, Proton, Opel, Mercedes, Volkswagen, General Motors, and Honda Motor Company Ltd.

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Research Scope

Scope – Highlights, Trends, Insights. Attractiveness, Forecast

Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others

Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain

Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments

Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis

Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis

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In-depth segmentation which can be customized as per your requirements

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[businessindustry]

Ignition Coil Market Technological Trends and Future Threats Analysis by 2024-2032

The Reports and Insights, a leading market research company, has recently releases report titled “Ignition Coil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Ignition Coil Market Analysis share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Ignition Coil Market?

The global ignition coil market size was US$ 2.7 Billion in 2022. Furthermore, the market is expected to register a revenue CAGR of 4.8% during the forecast period and reach a market size of US$ 4.1Bn in 2031.

What are Ignition Coil?

An ignition coil plays a vital role in the ignition system of an internal combustion engine, converting the low voltage from the battery into the high voltage necessary to produce a spark in the spark plugs. This spark initiates the combustion process by igniting the fuel-air mixture in the engine's cylinders, powering the vehicle. Operating on electromagnetic induction principles, the ignition coil comprises a primary coil winding that receives the low voltage and a secondary coil winding that generates the high voltage.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/2049

What are the growth prospects and trends in the Ignition Coil industry?

The ignition coil market growth is driven by various factors and trends. The ignition coil market is on a stable growth trajectory globally, propelled by the growing automotive industry worldwide. These coils are indispensable for ensuring efficient engine ignition in gasoline-powered vehicles. Technological advancements, including the introduction of sophisticated ignition systems that enhance fuel efficiency and lower emissions, are further fueling market growth. Moreover, the increasing popularity of electric vehicles is opening up new avenues for ignition coil manufacturers, as these vehicles still rely on ignition systems for specific functions. With the automotive sector evolving towards more efficient and environmentally friendly vehicles, the ignition coil market is poised for continued expansion. Hence, all these factors contribute to ignition coil market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Conventional Ignition Coils

Distributor Ignition Coils

Coil-on-Plug Ignition Coils

Smart Ignition Coils

Vehicle Type:

Passenger Cars

Light Commercial Vehicles (LCVs)

Heavy Commercial Vehicles (HCVs)

Electric Vehicles (EVs)

Technology:

Conventional Ignition Systems

Capacitive Discharge Ignition (CDI) Systems

Electronic Ignition Systems

Distributorless Ignition Systems (DIS)

Sales Channel:

Original Equipment Manufacturers (OEMs)

Aftermarket

Application:

Gasoline Engines

Diesel Engines

Compressed Natural Gas (CNG) Engines

Others

Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Who are the key players operating in the industry?

The report covers the major market players including:

Bosch

Denso Corporation

Delphi Technologies (now part of BorgWarner)

NGK Spark Plug Co., Ltd.

Valeo

Standard Motor Products, Inc.

Hitachi Automotive Systems

Federal-Mogul (now part of Tenneco)

Mitsubishi Electric Corporation

ACDelco (a division of General Motors)

Bremi Fahrzeug-Elektrik GmbH & Co. KG

Hella GmbH & Co. KGaA

Continental AG

SMP Deutschland GmbH (formerly BERU)

Mitsubishi Electric Automotive America, Inc.

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[hardynwa]

Why Nigeria must Channel Petroleum Subsidy Savings Towards Driving Green Growth and Sustainable Development in Nigeria

By Prof. Chukwumerije Okereke In a daring move, Nigeria's President, His Excellency President Bola Ahmed Tinubu GCFR, declared the immediate abolition of fuel subsidies during his Inaugural Address on May 29, 2023, stating quite simply that "subsidy is gone". In the coming months, President Tinubu would go on to announce that the money from subsidy payments will be transferred to fund public infrastructure, education, health care, and jobs, among other critical developmental requirements for the country. While the elimination of subsidies was praised as a key step in advancing Nigeria’s divestment from fossil fuels in the global climate change community, it remained unclear, indeed doubtful, whether this was the motivation for Nigeria's decision. There is no denying that the decision to establish the Presidential Compressed Natural Gas Initiative (PCNGI)—an initiative aimed at promoting the widespread adoption of Compressed Natural Gas (CNG)-powered vehicles in Nigeria's transportation system—will have an impact on the country's greenhouse gas emissions and, as a result, will aid Nigeria's net zero and decarbonisation efforts. However, much more is required to make the fuel subsidy programme serve Nigeria’s climate goals.In thinking more holistically and systematically about how the elimination of petroleum import subsidies might assist in driving Nigeria's climate action and ultimately position the country for long-term growth in line with global trends, One start in the right path is to set aside a specific percentage of subsidy savings for a special ring-finance fund that can be used to fund investments and projects in climate adaption, renewables, and climate-smart innovation. This is the path to toe. It is therefore our recommendation that a minimum of 20% of the savings from the subsidy removal regime be dedicated especially to climate-related infrastructure and investments. The fund can be deposited in the Climate Change Fund, which was established by the Climate Change Act, and administered as grants, subventions, allocations for infrastructure projects, subsidies for renewable energy and climate-smart agriculture, and so on. Some of the money can also be used as catalytic funding to leverage bigger investments in renewable energy investment from international public and private sector sources. Going by projected savings, this will free up about N16bn annually for climate finance that can be used to drive sustainable development of Nigeria. Parties to the international climate agreement at COP28 in Dubai, which the president and numerous ministers attended, committed to collaborate to triple the world's installed renewable energy generation capacity to at least 11,000 GW by 2030. Despite Nigeria's significant solar potential, with daily irradiation equivalent to more than a million tonnes of oil, far exceeding its oil and gas outputs, solar accounts for only 0.2% of installed capacity, making its contribution to the country's energy mix almost insignificant. According to a study conducted by Boston Consulting Group and All On (a Shell-funded impact investment company), the off-grid solar market in Nigeria had a compound annual growth rate of 22% between 2018 and 2022, making it one of the fastest growing in Africa during the same period. However, uptake is still hampered by high upfront costs, with only 1.25% of Nigerian households installing the system. According to the same study, installing solar in 30% of Nigerian households by 2030 would save 5 million metric tonnes of CO2, cutting household emissions by 30%. A dedicated fund created from fossil fuel savings can be utilised to invest in the expansion of on-grid and off-grid solar in Nigeria, thereby helping to bridge the energy poverty gap. This becomes even urgent considering that Nigeria continues to have the world's biggest unelectrified population, with over 90 million of the country's 200 million people living off the grid. A recent Agora policy report finds that climate change is causing increased hunger, poverty, disease burden, migration, conflict, and insecurity in Nigeria. It is damaging infrastructure, altering Nigeria's coastlines, fuelling desertification, causing water scarcity, facilitating erosion, and resulting in revenue losses for states and the national government, with the cumulative total economic cost of climate change to Nigeria estimated to be up to USD100 billion by 2050. Climate change might reduce agricultural productivity by 10 to 25 percent by 2080. For some places in the country's north, rainfed agriculture yields could fall by up to 50%. Increased warming trends will also make root crop and vegetable storage difficult for farmers who do not have access to refrigerators, exacerbating the already high degree of postharvest loss. Climate change is therefore arguably the biggest economic development challenge facing Nigeria. President Tinubu will make a bold announcement by allocating 20% of the country’s subsidy savings to the Climate Change Fund, which can then be used to compel higher commitments from the international community. Such promises may take the shape of a strong demand for the debt-for-climate programme, additional money for adaptation, loss and damage, renewables, and a reform of the global finance infrastructure to reduce the risk of investment for potential green firms. Chukwumerije Okereke is Professor of Global Climate Governance and Public Policy at University of Bristol, UK and President, Society for Planet and Prosperity, SPP, Nigeria Read the full article

[envil22100]

Data Bridge Market Research analyses that the automotive natural gas vehicle market would exhibit a CAGR of 4.30% for the forecast period. Rising demand for cost- efficient fuel alternative and increasing demand for vehicles running on natural gas owing to the rising awareness are the two major factors attributable to the growth of automotive natural gas vehicle market. In terms of automotive natural gas vehicle market value, it will stand tall by USD 15447.46 million by the year 2028.

[businesspointnews]

CNG and LPG Vehicle Market 2024, Trends, Demands, Key Players, Historical Analysis, Emerging Technologies and Potential of Industry till 2032

IMARC Group, a leading market research company, has recently released a report titled “CNG and LPG Vehicle Market by Fuel Type (CNG (Compressed Natural Gas), LPG (Liquefied Petroleum Gas)), Vehicle Type (Passenger Cars, Commercial Vehicles), Sales Channel (OEM (Original Equipment Manufacturer), Retrofitting), and Region 2024-2032.” The study provides a detailed analysis of the industry, including…