Global Automotive Natural Gas Vehicle (NGV) Market Size was valued nearly 24,400.00 thousand units by 2017 and is estimated to reach up to USD XX.XX billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 4.3% during the forecast period, i.e. 2017-2025.

Global Automotive Natural Gas Vehicle Market Growth Opportunities (Revenue, Growth) By 2017-2025

An automotive natural gas vehicle is used to compressed natural gas or liquefied natural gas, which can use alternative of diesel and petrol. A natural gas is widely used in lift trucks, buses, light and heavy duty trucks, motorcycles, cars, vans and locomotives. CNG and LNG provide an economical and environmental friendly option over diesel or petrol. Currently, globally the penetration of automotive natural gas vehicle is less, due to its operational advantages, in future the penetration is anticipated to increase in upcoming period.

This Global analysis offers in-depth insights, revenue details, and other vital information regarding the global automotive natural gas vehicle market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global surface mining market report has been segmented on the basis of type, application, and region.

Market Dynamics:

In 2017 the global automotive natural gas vehicle market was projected at 24,400.00 thousand units, and it is anticipated to exhibit a CAGR 4.3% during the forecast period. Increasing support from several governments worldwide for the adoption of NGVs is one the major growth stimulants for the market.to curb the environmental damage. Along with these regulations, authorities have also been amending emission standard policies dynamically in order to protect the environment and projected to positively influence the growth of the market in the upcoming period.

Automotive industry are enhancing their product portfolio and providing compressed natural gas and liquefied natural gas variants of vehicles in order to comply with including policies and standards. Increasing demand for vehicles running on CNG and LNG coupled with growing launches of a variety of natural gas vehicles is likely to accelerate the market.

Market Segmentation:

Based to several technologies, there is a raising interest towards LNG as a fuel for heavy-duty trucks. Many tucks fleets from the transportation sector are switching to alternative fuel technologies to demanding government regulations and concerning the environment, due to this there is high growth in the automotive gas vehicle market and is projected to move in upward direction during the forecast period. Also, NGV manufacturers are focusing on LNG trucks which are not in the demand of market. Many companies in transportation sector are testing LNG trucks for haulage since these types of vehicles are cost-effective and low carbon emissions as compared with diesel engine vehicle.

CNG and LNG vehicles is gaining momentum worldwide there are various gas agencies such as Gazprom, Gasum has contribute the natural gas infrastructure by establishing new CNG and LNG fuelling station in 2016 and 2017.increasing demand in natural gas from automotive consumers along with increasing demand of CNG and LNG vehicles by commercial and government fleets is expected to create more players to make investment in infrastructure development.

Regional Analysis:

North America is projected to drive the market in this region due to increasing advancements in development. In U.S. the domestic truck makers and automakers are accepting addition of new CNG trucks and cars to their production lines, which will boost the market due to adoption of CNG vehicles in the region which will help to grow the market in higher extent.

Asia Pacific is anticipated to emerge as the largest market share of NGVs during the forecast period on account development of natural gas infrastructure in countries such as India, China, and Pakistan. Moreover, stringent government policies concerning the environment are poised to increase the market growth of the Asia Pacific market. 

Global Automotive Natural Gas Vehicle Market Size, Share Analysis By Region 2017

The growth of commercial sectors such as transport and construction is providing an upheaval all over the market, due to this there is high demand projected during upcoming era. High demand of economic fuel alternatives such as CNG and LNG in the trucking sector, development of natural gas refuelling infrastructure along transport routes and conversion of fleet vehicles from diesel-based to natural gas.  

Robust growth of commercial sectors such as transport and construction is providing ascension to the overall market which will help to grow the market high in upcoming period. Rising adoption of economic fuel alternatives such as CNG and LNG in the trucking sector, development of natural gas refuelling infrastructure along transport routes, and conversion of fleet vehicles from diesel-based to natural gas-based are some of the factors that stimulating the market growth significantly. Also, governments are taking initiatives and encouraging the use of alternative fuel technologies in vehicles.

Automotive Natural Gas Vehicle Market: Secondary Research

To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance, Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.

Automotive Natural Gas Vehicle Market: Primary Research

For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in XXXX market are included as primary sources of the supply side.

After performing comprehensive engineering of XXXX market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been carried out to collect information along with verifying and validating the significant and critical market numbers arrived at.

Key Player:

Key players of automotive gas vehicle include AB Volvo; Cummins, Inc.; Beiqi Foton Motor Co., Ltd.; Navistar, Inc.; PACCAR, Inc.; and Westport Fuel Systems Inc. Suppliers in the value chain of the automotive market are chosen according to their offerings and quality standards to ensure that final quality of assembled vehicle meet expectations. Selection of suppliers is carried out through various means, such as direct negotiations, reverse auctions, or competitive bidding. A crucial component that makes up an NGV is the natural gas engine. Companies such as Cummins Westport, Inc. and Weichai Westport, Inc. design and build CNG engines and LNG engines, along with engines running on other alternative fuels.

Global Automotive Natural Gas Vehicle Market Study Report Offer You!

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