“The aftermarket for CNG kits for passenger cars stood at over 144,000 in FY 2013 which is expected to increase at a CAGR of more than 24% from FY 2013 to FY 2018” says RNCOS study.
Noida, UP -- (SBWIRE) -- 09/11/2014 -- The sky rocketing prices of petrol and diesel have resulted in a shift towards alternative fuels, thus inclining car buyers towards CNG cars in order to curtail the running cost. RNCOS latest research titled “India CNG Passenger Car Market Outlook 2018” predicts the aftermarket CNG kits sales for passenger cars to grow at a CAGR of more than 24% during the 5 year period FY 2013 to FY 2018.
While OEMs have prepped up the production of CNG version vehicles, others offer CNG kit fitment at dealer outlets. However, customers prefer after market fitment of CNG kits as the OEMs charge hefty premium for CNG versions; a CNG version from OEM costs approximately INR 50,000 - INR 60,000, the after fitment costs INR 20,000-25,000 roughly. Moreover, after market dealers offer swift services compared to OEM workshops. Although the cost is on the upper side for OEM kits, these authorized kits are approved by the state RTO and come with 1-2 year warranty extending reliable characteristics.
The latest RNCOS study describes the CNG car market performance in India. Current and future landscape of OEM sales of CNG cars and aftermarket fitment of CNG kits in passenger cars have been presented for key states with CNG infrastructure including Delhi-NCR, Maharashtra, Gujarat, Andhra Pradesh and Uttar Pradesh. Besides, detailed description of current and future outlook of CNG stations and pipeline network shall help strategists chalk out the right plans for expansion/entry into the potential markets. The research report presents a clear picture of the industry providing market trends, challenges, profiling of OEMs, their existing and upcoming CNG models and latest developments in the industry.
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