Core Viewpoint - The domestic natural gas heavy truck market experienced significant growth in December 2025, with sales reaching 12,500 units, marking a year-on-year increase of 31%. The total sales for the year reached 198,700 units, a 12% increase compared to the previous year, setting a new annual sales record [1][3][15]. Engine Market Characteristics - The main displacement range for natural gas heavy truck engines in 2025 was 12-13L and 14-15L, accounting for 43.33% and 39.28% of the market, respectively. The share of engines over 15L increased to 4.32% in December [5]. - In terms of horsepower, the dominant ranges were 500-600 horsepower and 400-500 horsepower, comprising 43.93% and 37.21% of the market. The share of super high horsepower models (≥600 horsepower) rose to 16.62%, an increase of nearly 14 percentage points compared to 2024 [8]. Sales Data and Rankings - In December 2025, five companies sold over 1,000 natural gas heavy truck engines, with Weichai leading with 6,260 units sold, capturing a market share of 50.0%. Cummins ranked second with 2,154 units (17.2% market share), followed by FAW Jiefang with 1,699 units (13.6% market share) [12][20]. - For the entire year, Weichai sold 103,000 units, holding a market share of 51.8%. Cummins and FAW Jiefang followed with 38,500 units (19.4%) and 25,000 units (12.6%), respectively [16][20]. Yearly Performance and Trends - The total sales of natural gas heavy truck engines in 2025 reached 198,700 units, a net increase of 20,500 units compared to 2024. The last four months of 2025 saw a surge in market activity, despite a noticeable cooling in the last two months compared to September and October [15][26]. - The market saw varied performance among the eight companies that achieved sales, with some experiencing significant growth while others faced declines. Notably, companies like Yuchai and Dongfeng Longqing outperformed the overall market growth rate [18][21].

Core Viewpoint - The domestic natural gas heavy truck market has experienced significant growth, with sales in October reaching 21,100 units, a year-on-year increase of nearly 140%, marking a doubling trend for two consecutive months [1][4][16]. Group 1: Market Performance - In October 2025, the sales of natural gas heavy truck engines reached 21,100 units, representing a 138% year-on-year increase [4][12]. - Cumulatively, from January to October 2025, the total sales of natural gas heavy truck engines amounted to 166,800 units, reflecting a 6% year-on-year growth, with a net increase of approximately 9,500 units compared to the same period last year [1][16][20]. - The market saw a reversal in cumulative sales growth after a decline in previous months, indicating a strong recovery in September and October [16][27]. Group 2: Engine Specifications - The dominant engine displacement categories for natural gas heavy trucks in 2025 are 12-13L and 14-15L, accounting for 43.27% and 39.63% of the market, respectively [6]. - The market share of engines with over 15L displacement is relatively low at 4.17%, with a slight increase to 5.48% in October [6]. - In terms of horsepower, the primary segments are 500-600 horsepower and 400-500 horsepower, comprising 43.82% and 37.58% of the market, respectively, while engines with horsepower ≥600 represent 16.36% [9]. Group 3: Leading Companies - Weichai Power continues to dominate the market with a monthly sales volume of 11,000 units in October, achieving a market share of 52.00%, marking its tenth consecutive month at the top [12][14]. - Cummins (including Foton Cummins and Dongfeng Cummins) ranked second with a total of 4,040 units sold, holding a market share of 19.15% [14][20]. - Other notable companies include FAW Jiefang with 2,655 units (12.58% market share), Yuchai with 1,280 units (7.70%), and Dongfeng Longqing with 1,220 units (7.32%) [14][20]. Group 4: Sales Rankings - The top-selling natural gas heavy truck engines from January to October 2025 include the WP13NG480E61 from Weichai with 44,600 units sold, representing a market share of 26.74% [22][23]. - Weichai has five models in the top ten sales list, while Cummins has three, and Dongfeng Longqing and FAW Jiefang each have one model [23]. Group 5: Future Outlook - The natural gas heavy truck market is expected to continue its growth trajectory, with a strong performance in the last quarter of the year, indicating a positive outlook for the industry [27].