Maruti Suzuki expects a high jump of 30% in the CNG market
The CNG market has witnessed substantial growth in recent years, driven by increasing environmental concerns and the need for sustainable energy solutions. As a cleaner alternative to traditional fossil fuels, CNG has become a popular choice for powering vehicles and industrial applications. The market’s expansion is fueled by government policies aimed at reducing greenhouse gas emissions and promoting the use of cleaner fuels. Moreover, advancements in CNG technology and infrastructure have made it more accessible and cost-effective for consumers and businesses alike.
Maruti Suzuki India anticipates a more than 30 percent surge in sales of its compressed natural gas (CNG) vehicles to approximately 600,000 units this fiscal year, as stated by a senior company representative. The company, aiming to export around 300,000 units this financial year, is the nation’s largest carmaker. Additionally, in 2023, sales of CNG-powered cars reached 104,000 units compared to 68,542 units in 2022. With CNG priced at Rs 77.5 per kilogram and petrol at Rs 96.42 per liter, along with diesel at Rs 92.1 per liter, CNG vehicles offer a cost-effective option, achieving mileage of up to 28 kilometers per kilogram. Increasing fuel costs for petrol and diesel over the past five years have further incentivized consumers to opt for CNG cars. The proliferation of factory-fitted CNG kits, their quality, and the warranties provided have also contributed to the overall growth of the CNG market.
Trends in the CNG Market
The current trends in the Compressed Natural Gas (CNG) market reflect a significant shift towards cleaner and more sustainable energy sources. The growing emphasis on reducing greenhouse gas emissions and combating climate change is driving the adoption of CNG as an alternative to conventional fuels. Governments worldwide are implementing supportive policies and incentives to promote the use of CNG, particularly in the transportation sector. Technological advancements are enhancing the efficiency and storage capacities of CNG systems, making them more viable for a wider range of vehicles, including heavy-duty trucks and buses.
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