The global Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 7.0% during the review period (2022 to 2027)
Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market Overview
Currently, global warming is a major issue around the world and the public has begun to realize its ramifications. This has led to sentiment against the use of gasoline and diesel. The growth of automotive CNG and LPG can be attributed to increasing use of alternative fuel in the automotive industry for cost effectiveness, fuel efficiency, and emission control. The emission norms in some regions have become so strict that huge amounts of investment are required to make the vehicles compliant. The strict emission norms in some regions have led to huge investments to make the vehicles compliant. This has put a lot of financial pressure, especially on the diesel vehicle manufacturers, acting as a major driver for the CNG and LPG vehicle market. One of the most important issues pertaining to natural gas vehicles is their driving range (especially true for heavy commercial vehicles), which is comparatively lower than that of petrol and diesel vehicles. Though new NGVs are costlier than their petrol (and sometimes diesel) counterparts, this initial trade-off is nullified in the medium- to long-term period post purchasing the vehicle, as there is considerable price difference between vehicles that run on gas and those that run on petrol and diesel.
Industry News:
Nissan offers natural gas conversion of its models in Mexico
May 24, 2021. Nissan, one of the most popular car brands in Mexico, announced that it will open 25 workshops so that its customers can convert their vehicles from gasoline to compressed natural gas (CNG) or liquefied petroleum gas (LPG).
What are the major Applications, Types and Regions for Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market?
By Type, it is segmented int
- Passenger Vehicle
- Commercial Vehicle
- Others
By Applications it is segmented into
- Home Use
- Commercial Use
- Others
Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market Regional Analysis
An in-depth analysis of specific regions and their respective countries is performed to ensure that the precise detailing of the Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market's footprint and sales demographics are effectively captured with precision, allowing our users to use this data to the best of their abilities. In 2020, APAC dominated the CNG vehicle market. The increased production of commercial vehicles and passenger cars is primarily responsible for this region's market growth. Individuals' disposable income has risen in tandem with the economy, resulting in a jump in passenger automobile and commercial vehicle purchases in recent years. With strong automotive and transportation sectors, APAC has become a worldwide manufacturing hub. Furthermore, government programmes such as Made in China 2025 and Make in India help to propel these industries forward in APAC.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market Report Scope?
Scope of the Report covers Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market with detailed analysis of the overall scenario for the market. It also highlights the business participants environment in the global marketplace.
Report Attributes
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Report Details
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Forecast Period 2022 to 2028 CAGR
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CAGR of 7.0 % during the review period (2022 to 2027).
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By Type
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- Passenger Vehicle
- Commercial Vehicle
- Others
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By Application
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- Home Use
- Commercial Use
- Others
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By Companies
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Volkswagen, Fiat Chrysler, Ford, General Motors(NYSE: GM), Toyota(NYSE: TM), Nissan, Volvo Group, Hyundai, Honda, Mercedes-Benz, Renault, PSA
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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162
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Report
- Evaluate Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
What is the study period of this market?
The Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market is studied from 2017 - 2027.
What is the growth rate of Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market?
The Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market is growing at a CAGR of 7.0% over the next 5 years.
Who are the key players Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market?
Volkswagen, Fiat Chrysler, Ford, General Motors(NYSE: GM), Toyota(NYSE: TM), Nissan, Volvo Group, Hyundai, Honda, Mercedes-Benz, Renault, PSA
What regions does this Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market?
What are the major end-use applications of Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles Market?
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
