Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market size (most likely outcome) will be a year-over-year revenue growth rate of XX% in 2021, from US$ 4447.1 million in 2020. Over the next five years the Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market will register a 8.2% CAGR in terms of revenue, the global market size will reach US$ 6096.5 million by 2026. Compressed natural gas vehicle is an alternative fuel vehicle that uses compressed natural gas as the fuel rather than gasoline or diesel. CNG, or compressed natural gas, is stored at high pressure, 3,000 to 3,600 pounds per square inch (21 to 25 MPa). The required tank is more massive and costly than a conventional fuel tank. The CNG vehicle's emissions are cleaner, with lower emissions of carbon and lower particulate emissions per equivalent distance traveled. There is generally less wasted fuel.
In the next five years, the Global consumption of CNG and LPG Vehicles will maintain about 10.85% annual growth rate.
The global average price of CNG and LPG vehicles is in the decreasing trend, from14.4 K USD/Unit in 2013 to 12.8 K USD/Unit g in 2018. With the situation of global economy and more company enter this industry; prices will be decreasing trend in the following five years.
MENA is a large consumption place, with a consumption market share nearly 27.85%. Following south Asia, China is another important consumption place with the consumption market share of 15.03% in 2017.
In 2017, there are two key reasons causing the huge decline of CNG Vehicles sales in China. One is China has introduced a new policy to limit motor vehicle "oil to gas", another is the decline in gasoline price.
Market competition is intense. Fiat Chrysler, Volkswagen, Ford, General Motors, etc. are the leaders of the industry, and they hold high-end customers, and their products are famous in the world.
Industry concentration is deepening. China domestic CNG vehicles enterprises are increasing investment and absorbing foreign advanced technologies so that large companies will gain more market share.
The report also assesses the key opportunities in the Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market has also been forecasted for the period 2021-2026, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
Top Key players in the Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Fiat Chrysler, Volkswagen, Ford, General Motors, Toyota, Iran Khodro, Nissan, Volvo, Hyundai, Honda, Suzuki, Mercedes-Benz, Renault, PSA, Great Wall Motors and others.
Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market research provides a detailed Analytical Insights of global market size, regional and country-level scope, segmentation wise growth, global share, Competition Scenario, sales analysis, impact global market players on domestic players, value chain optimization, trade regulations, Latest developments, future opportunities, product launches, expanding marketplaces, and New technological innovations.
Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market is segmented based on the type, applications, companies and regions.
By Type, Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market has been segmented into
Passenger Vehicle
Commercial Vehicle
The end user’s industry application on Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market is,
Home Use
Commercial Use
The report offers in-depth assessment of the growth and other aspects of the Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market highlights the potential growth opportunities in upcoming years, while reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape and other key aspects in the global market. The Global Compressed Natural Gas (CNG) and Liquified 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. This Research Study compares the markets of Pre COVID-19 and Post COVID-19 with the impact of COVID-19 on the regional economy.
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2021-2026. The report presents the analysis of Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market for the historical period of 2017-2021 and the forecast period of 2021-2026.
The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions, Technological Innovations, and Role of Manufacturers during COVID19 Pandemic. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.
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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.
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