"Market Intelligence for High-Geared Performance"

Cng And Lpg Vehicle Market Size, Share & Industry Analysis, By Type ( CNG, LPG ), By Vehicle Type ( Passenger Cars, Commercial Vehicles ) and regional forecast 2022-2029

Region : Global | Report ID: FBI104107 | Status : Ongoing

 

KEY MARKET INSIGHTS

CNG and LPG vehicles have engines that use compressed natural gas (CNG) or liquid petroleum gas (LPG) as their secondary fuel alternatives. The internal combustion engine operating on CNG or LPG is a well-established technology, and its working mode is similar to that of a traditional fuel spark ignition engine. Both CNG and LPG are mainly applied in spark ignition engines of dual-fuel vehicles. CNG and LPG are also attaining acceptance in vehicles based on compression ignition engines including diesel-operated heavy vehicles. The increasing adoption of clean energy across the globe is setting a trend for the CNG and LPG vehicle market. Natural gas is the cleanest fossil fuel as it provides various emissions advantage as compared to gasoline and diesel. The environmental protection agency (EPA) are setting stringent emission norms predominantly for reducing atmospheric particulate matter and NOx thereby forcing diesel emission technology to be as friendly as the low emission CNG and LPG technology. The market for CNG and LPG vehicles is gaining high traction owing to the rise in the incentives offered by the government to encourage the promotion of CNG and LPG vehicles. The European government and local authorities are promoting the use of LPG by providing various favourable policies such as low fuel taxes, traffic regulations and incentives for clean vehicles.


Market Segmentation:


Globally, the CNG and LPG Vehicle market is segmented by type, by vehicle type and by geographic coverage. Based on type, the market is further segmented into CNG and LPG. The CNG and LPG vehicles are gaining popularity in several regions especially in emerging economies owing to the low prices of CNG and LPG as compared to the high prices of gasoline and diesel fuels. Moreover, the vehicles running on LPG and CNG are considered as environment friendly substitutes to the petroleum-driven vehicles. The LPG vehicles provide dual fuel options which is more preferable among the consumers primarily for saving off the operating costs. Also, the cost advantages of CNG and LPG along with the considerable reduction in carbon di oxide emissions are projected to boost the global CNG and LPG market. The vehicle type is further segmented into passenger cars and commercial vehicles. The passenger cars segment holds the largest share in the global market. Passenger cars hold the major share in the global market and is expected to propel further over the forecast period. India’s prominent automotive companies are more interested in natural gas over electric vehicles. The increase in the per capita income and the various initiatives taken by the governments to encourage the use of clean energy in order to reduce the carbon emission from vehicles. All these factors are thus boosting the demand for CNG and LPG cars in the global market.


Key Market Driver -

Increasing popularity for low emission natural gas as secondary fuel is expected to drive the growth of the market in the forecast period.

Key Market Restraint -

Growing inclination towards electric vehicles may hamper the growth of the market during the forecast period.

            


Key Players:


Major players operating in the global CNG and LPG vehicle market include Ford Motor Company, Fiat S.P.A., Suzuki Motor Corporation, Westport, General Motors, Landi Renzo Honda Motor Co., Ltd., Volkswagen, Impco, Volvo, Mitsubishi Motors Corporation and Daimler AG among others.


Key Insights 



  • New Advancements in CNG and LPG Vehicle

  • Number of Products, Key Countries, 2019

  • New Product Launches, Key Players


Regional Analysis:


Geographically, the CNG and LPG Vehicle market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the largest share in the global market owing to the low cost of natural gas as compared to petroleum products in this region. Also the stringent emission norms imposed by the government to curb the rising fuel emission is expected to fuel the growth of the LPG and CNG vehicles in this region. The increasing urbanization, growing traffic problems are also the main factors for the growth of the market. Europe holds the second largest share in the global market as Italy being the largest market of LPG and CNG vehicles in this region. Moreover, the stringent emission standards mandated by the European Union is driving the CNG and LPG market in this region.


To gain extensive insights into the market, Request for Customization


Segmentation






















ATTRIBUTES    


DETAILS        

By Type




  • CNG

  • LPG



By Vehicle Type




  • Passenger Cars

  • Commercial Vehicles



By Geography




  • North America (USA, Canada, and Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the World



 


  • Ongoing
  • 2021
  • 2018-2020

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850
    Pre Book

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Automotive & Transportation Clients

Bosch
KIA
Hitachi
Hyundai
Toshiba

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X