Market Overview:
The global compressed natural gas (CNG) and liquefied petroleum gas (LPG) vehicles market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth of the market can be attributed to the increasing demand for environment-friendly and fuel-efficient vehicles across the globe. Additionally, stringent emission norms are also propelling the growth of this market. The passenger vehicle segment is anticipated to hold a major share in terms of revenue in the global compressed natural gas (CNG) and liquefied petroleum gas (LPG) vehicles market during 2018–2030 owing to rising consumer awareness about environment-friendly options for transportation. Asia Pacific is estimated to be one of the most lucrative markets for passenger CNG/LPG vehicles due to high population density and rapid urbanization in countries such as China and India.
Product Definition:
Compressed natural gas (CNG) is a fuel composed of methane and other hydrocarbons that is used in vehicles. It is compressed to high pressure so that it can be stored in tanks. Liquefied petroleum gas (LPG) is a fuel made up of propane and butane that is used in vehicles. LPG is stored as a liquid under pressure in tanks. Both CNG and LPG are cleaner-burning than gasoline, and they are cheaper than diesel fuel.
Passenger Vehicle:
Passenger vehicle is a generic term used for referring to road vehicles that are designed to carry passengers and can be used by individuals without a specific trade or professional training. Passenger vehicles include cars, minivans, SUVs, and luxury cars. The growth of the passenger vehicle segment is directly proportional to the growth of the automotive industry as a whole; therefore it has been witnessing high demand over recent years.
Commercial Vehicle:
The global commercial vehicle and it's usage in CNG and LPG vehicles market size was valued at USD 85.5 billion in 2016. It is expected to expand at a CAGR of XX% over the forecast period on account of increasing demand for heavy-duty trucks across end-use industries such as construction, mining, agriculture, and logistics among others.
Application Insights:
On the basis of application, the global CNG and LPG vehicles market has been segmented into home use and commercial use. The home use segment dominated the overall market in terms of revenue share in 2017. This is attributed to growing urbanization, increasing disposable income among consumers as well as a high level of awareness regarding environment protection. Moreover, governments across various countries have implemented various schemes for subsidies for installing CNG or LPG fueled vehicles which has further driven growth over recent years.
Commercial Use was estimated to be the fastest-growing application segment from 2018 to 2030 owing to rising adoption at fueling stations due largely to benefits such as tax incentives offered by government on installation at commercial locations along with ease provided in accessing fuel supply facilities compared with Home Use scenario where vehicle owners are supposed to do all necessary work including plumbing themselves which may deter some potential consumers from adopting this technology widely across all regions globally.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to increasing government initiatives and awareness programs regarding CNG and LPG vehicles. The Asia Pacific region accounted for a share of more than 60% in 2016, which indicates that majority of the global sales were from this region. China was one of the largest markets accounting for a share of more than 30% in 2016 owing to increased demand from residential as well as commercial sectors.
Europe is also anticipated to witness significant growth due to growing environmental concerns coupled with stringent government regulations on carbon emissions resulting into increased adoption compressed natural gas vehicles across countries such as Germany, France, Italy, U.K.
Growth Factors:
- Increasing demand for CNG and LPG vehicles from commercial and passenger vehicle segments due to their advantages over traditional fuels such as petrol and diesel.
- Government initiatives towards promotion of CNG and LPG vehicles in order to reduce vehicular emissions and dependence on imported oil.
- Growing infrastructure development for fuelling CNG and LPG vehicles, especially in developing countries.
- Rising prices of conventional fuels such as petrol and diesel, which is making CNG an attractive option for consumers worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Research Report
By Type
Passenger Vehicle, Commercial Vehicle
By Application
Home Use, Commercial Use
By Companies
Fiat Chrysler, Volkswagen, Ford, General Motors, Toyota, Iran Khodro, Nissan, Volvo, Hyundai, Honda, Suzuki, Mercedes-Benz, Renault, PSA, Great Wall Motors
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Report Segments:
The global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market is segmented on the basis of:
Types
Passenger Vehicle, Commercial Vehicle
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Home Use, Commercial Use
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Fiat Chrysler
- Volkswagen
- Ford
- General Motors
- Toyota
- Iran Khodro
- Nissan
- Volvo
- Hyundai
- Honda
- Suzuki
- Mercedes-Benz
- Renault
- PSA
- Great Wall Motors
Highlights of The Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Passenger Vehicle
- Commercial Vehicle
- By Application:
- Home Use
- Commercial Use
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
CNG and LPG vehicles are powered by compressed natural gas (CNG) or liquefied petroleum gas (LPG). These fuels are derived from oil, which is then compressed into a liquid form. This makes CNG and LPG vehicles much cheaper to operate than gasoline-powered cars.
Some of the key players operating in the compressed natural gas (cng) and liquified petroleum gas (lpg) vehicles market are Fiat Chrysler, Volkswagen, Ford, General Motors, Toyota, Iran Khodro, Nissan, Volvo, Hyundai, Honda, Suzuki, Mercedes-Benz, Renault, PSA, Great Wall Motors.
The compressed natural gas (cng) and liquified petroleum gas (lpg) vehicles market is expected to grow at a compound annual growth rate of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market - Supply Chain
4.5. Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Forecast
4.5.1. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size (000 Units) and Y-o-Y Growth
4.5.3. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Absolute $ Opportunity
5. Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Type
5.3.1. Passenger Vehicle
5.3.2. Commercial Vehicle
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Application
6.3.1. Home Use
6.3.2. Commercial Use
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Demand Share Forecast, 2019-2026
9. North America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Application
9.4.1. Home Use
9.4.2. Commercial Use
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Type
9.7.1. Passenger Vehicle
9.7.2. Commercial Vehicle
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Demand Share Forecast, 2019-2026
10. Latin America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Application
10.4.1. Home Use
10.4.2. Commercial Use
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Type
10.7.1. Passenger Vehicle
10.7.2. Commercial Vehicle
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Demand Share Forecast, 2019-2026
11. Europe Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Application
11.4.1. Home Use
11.4.2. Commercal Use
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Type
11.7.1. Passenger Vehicle
11.7.2. Commercial Vehicle
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Demand Share, 2019-2026
12. Asia Pacific Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Application
12.4.1. Home Use
12.4.2. Commercial Use
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Type
12.7.1. Passenger Vehicle
12.7.2. Commercial Vehicle
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Demand Share, 2019-2026
13. Middle East & Africa Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Application
13.4.1. Home Use
13.4.2. Commercial Use
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Size and Volume Forecast by Type
13.7.1. Passenger Vehicle
13.7.2. Commercial Vehicle
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market: Market Share Analysis
14.2. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Distributors and Customers
14.3. Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Fiat Chrysler
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Volkswagen
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Ford
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. General Motors
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Toyota
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Iran Khodro
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Nissan
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Volvo
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Hyundai
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Honda
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Suzuki
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Mercedes-Benz
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Renault
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. PSA
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Great Wall Motors
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook