Global CNG and LPG vehicle markets, 2021-2030
DUBLIN, January 17, 2022 CNG & LPG Vehicles Market Research Report: By Fuel Type (CNG, LPG), Vehicle Type (Passenger Car, Light & Heavy Trucks, Buses) – Global Industry Analysis and growth forecasts until 2030” has been added to the report from ResearchAndMarkets.com offer.
On a gasoline equivalent basis, the cost per gallon of compressed natural gas (CNG) in Europe which goes from $1.50 at $2.80. Compared to diesel and petrol (gasoline), this translates into fuel savings of up to 75%.
This is a key factor that is likely to propel the sales volume of the global CNG and LPG vehicles market from 56.2 million units in 2019 to 102.3 million units by 2030, at a CAGR of 5.9% between 2020 and 2030.
Similarly, the cost per gallon of liquefied petroleum gas (LPG) on a gasoline equivalent basis is $2.00. This leads to cost savings of almost 50% for every gallon of fuel. Additionally, the market for CNG and LPG vehicles is driven by CNG’s lower greenhouse gas emissions than gasoline and diesel. Likewise, the installation of an LPG filling station is cheap and the LPG tanks are small, thus leaving more space for passengers and cargo inside the vehicle.
The COVID-19 pandemic has nearly halted the growth of the CNG and LPG vehicle market as plant shutdowns have led to a drop in their production. Also, with the restrictions on non-essential travel, the demand for transportation services has dropped significantly, which is why ride-sharing companies are not buying cars currently. Even individuals are not buying automobiles due to widespread financial hardship due to wage cuts and unemployment.
The CNG fork is expected to continue to hold the largest CNG and LPG vehicle market share in the coming years, based on fuel type. Due to environmental concerns, the demand for CNG vehicles is increasing worldwide, especially in emerging economies of Asia Pacific (APAC).
In the coming years, the bus category will experience the fastest growth in the CNG and LPG vehicle market, based on vehicle type. With efforts to reduce the rate of environmental degradation, many countries around the world are including CNG buses in their public transport fleets. For example, since December 2002, Delhi Transport Corporation (DTC) operates an all-CNG fleet of buses, with orders for another 1,000 data in January 2021.
APAC is currently the largest market for CNG and LPG vehicles due to the growth of the automotive industry from Japan, China, India, and South Korea. the Latin America, Middle East, and Africa (LAMEA) will see the fastest increase in the sale of CNG and LPG vehicles in the near future, as the economic growth of Brazil, Mexico, and other developing countries allow people to spend more on automobiles.
The major players in the global CNG and LPG vehicles market are General Motors Co., Ford Motor Co., Toyota Motor Corporation, Fiat Chrysler Automobiles NV, Tata Motors Ltd., Honda Motors Co. Ltd., Daimler AG, AB Volvo , Volkswagen AG. and Suzuki Motors Corp.
Main topics covered:
Chapter 1. Research Context
Chapter 2. Research Methodology
Chapter 3. Executive Summary
3.1 Competitiveness of LPG/Autogas compared to CNG
Chapter 4. Introduction
4.1 Definition of market segments
4.1.1 By type of fuel
4.2 Value chain analysis
4.3 Competitive Positioning of the Global CNG and LPG Vehicles Market
4.4 Market Dynamics
18.104.22.168 Growing Trend of Clean Energy Adoption
22.214.171.124 Low running cost
126.96.36.199 Booming e-commerce industry
188.8.131.52 Impact Analysis of Drivers on Market Forecast
184.108.40.206 Growing Demand for Electric Vehicles
220.127.116.11 High initial cost associated with CNG and LPG vehicles
18.104.22.168 Market Forecast Restrictions Impact Analysis
22.214.171.124 Growing Popularity of Natural Gas Buses in Emerging Economies
4.5 Porter’s Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By type of fuel
5.2 By type of vehicle
5.3 By region
Chapter 6. North America Market Size and Forecast
6.1 By type of fuel
6.2 By type of vehicle
6.3 By country
Chapter 7. Europe Market Size and Forecast
7.1 By type of fuel
7.2 By type of vehicle
7.3 By country
Chapter 8. APAC Market Size and Forecast
8.1 By type of fuel
8.2 By type of vehicle
8.3 By country
Chapter 9. LAMEA Market Size and Forecast
9.1 By type of fuel
9.2 By type of vehicle
9.3 By country
Chapter 10. Major Market Segments
10.1 Global CNG Vehicle Market
10.1.1 India, by type of vehicle
10.1.2 China, by type of vehicle
10.1.3 Brazil, by type of vehicle
10.1.4 Iran, by type of vehicle
10.1.5 Argentina, by type of vehicle
10.2 Global LPG Vehicles Market
10.2.1 Turkey, by type of vehicle
10.2.2 Russia, by type of vehicle
10.2.3 Poland, by type of vehicle
10.2.4 Italy, by type of vehicle
10.2.5 India, by type of vehicle
Chapter 11. Competitive Landscape
11.1 Competitive Landscape: Global CNG and LPG Vehicles Market
11.2 Strategic Developments of Key Players
11.2.1 Product Launches
11.2.2 Partnerships, mergers and acquisitions
11.2.3 Winning Customers
11.2.4 Other developments
Chapter 12. Business Profiles
12.1 Ford Motor Co.
12.2 General Motors Co.
12.3 Fiat Chrysler Automobiles N.V.
12.4 Toyota Motor Corporation
12.5 Honda Motors Co.Ltd.
12.6 Tata Motors Ltd.
12.7 AB Volvo
12.8 Daimler AG
12.9 Suzuki Motors Corp.
12.10 Volkswagen AG
Chapter 13. Company Profiles – Spare Parts/Kit Manufacturers
13.1 Landi Renzo SPA
13.2 Tartarini Auto SRL
13.3 Tomasetto Achille SpA
13.4 Westport Fuel Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/aiyytw
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