Market Overview:
The global commercial natural gas vehicles market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for natural gas as a fuel for transportation and logistics applications across the globe. In addition, stringent emission norms are also driving the demand for commercial natural gas vehicles in various regions across the globe. The global commercial natural gas vehicles market is segmented on the basis of type, application, and region. On the basis of type, it is segmented into trucks, vans, buses & coaches, and others. The trucks segment accounts for a major share of the global commercial natural gas vehicles market due to their high efficiency and low emissions as compared to other types of commercial vehicles. On account of their growing popularity in transportation and logistics applications owing to their high fuel efficiency and low emissions levels; buses & coaches are expected witness significant growth duringthe forecast period from 2018-2030 .
Product Definition:
A Commercial Natural Gas Vehicle is a vehicle that runs on compressed natural gas (CNG). CNG is a cleaner-burning fuel than gasoline or diesel, and it's also less expensive. This makes CNG an attractive option for commercial vehicles, which tend to have high fuel costs.
Trucks:
Trucks are vehicles that are used to transport goods from one place to another. They can be either self-propelled or drawn by a locomotive or other vehicle. Trucks have wheels and they are designed for the transportation of goods overland as well as across country borders. The global trucks market is expected to witness significant growth owing to increasing demand for commercial natural gas vehicles (CNGVs).
Vans:
Vans are a type of vehicle that is widely used for the transportation of goods and materials. They are also known as trucks, transport vehicles, or vans. The term “van” is generally used for passenger cars that have been modified to carry multiple passengers and/or freight in the rear compartment.
Van's usage in commercial natural gas vehicles market can be differentiated into two types: light-duty van (LDV) and heavy-duty van (HDV).
Application Insights:
The transportation application segment led the global commercial natural gas vehicles market in 2017 and is projected to continue its dominance over the forecast period. The segment will expand further at a steady CAGR owing to increasing use of NGVs in road transport applications, such as trucks, vans and buses & coaches. In addition, growing demand for NGV for public transport applications is expected to drive growth over the forecast period.
The logistics application segment accounted for more than 20% share of the total revenue in 2017 due to rising adoption of NGV by logistics companies or shippers/ receivers involved with long-distance transports across various regions globally. Growing investments made by companies operating within logistics industry are also anticipated fuel product demand from 2018 to 2030 ¢â‚¬Å“ Logistics 2050: A Visionary Journey into 2050 ¢â‚¬ (Logistics 2025 Institute).
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing region over the forecast period. The regional growth can be attributed to increasing government initiatives and regulations for reducing carbon footprint along with rising demand for natural gas vehicles in countries, such as China and India. Asia Pacific accounted for a share of more than 60% of total global production in 2017 owing to large shale gas reserves located across China, Australia, India, New Zealand (INZ) and Russia.
North America was estimated at USD X million in 2017 on account of high adoption rate coupled with favorable government policies regarding CNG/LPG fueled vehicles across U.S., Canada and Mexico since last few years which has resulted into high product demand in this region.
Growth Factors:
- Increasing demand for commercial natural gas vehicles from the transportation sector due to stringent emission norms and fuel efficiency requirements.
- Government initiatives and subsidies for promotion of CNG vehicles in order to reduce vehicular emissions and dependence on imported oil.
- Availability of refueling infrastructure for CNG vehicles, especially in developed countries with large vehicle fleets.
- Growing popularity of natural gas as a transport fuel due to its lower emissions and cost-effectiveness compared to other alternative fuels such as diesel or electric powertrains .
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Natural Gas Vehicles Market Research Report
By Type
Trucks, Vans, Buses & Coaches
By Application
Transportation, Logistics, Others
By Companies
Cummins Westport, Daimler Trucks, General Motors Co, Iveco, MAN Trucks & Buses, Volvo Trucks, Cummins Westport
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
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Natural Gas Vehicles Market Report Segments:
The global Commercial Natural Gas Vehicles market is segmented on the basis of:
Types
Trucks, Vans, Buses & Coaches
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
Transportation, Logistics, Others
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:
- Cummins Westport
- Daimler Trucks
- General Motors Co
- Iveco
- MAN Trucks & Buses
- Volvo Trucks
- Cummins Westport
Highlights of The Commercial Natural Gas 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:
- Trucks
- Vans
- Buses & Coaches
- By Application:
- Transportation
- Logistics
- Others
- 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 Commercial Natural Gas 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
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Commercial natural gas vehicles are those that are used for transportation purposes, such as trucks, buses, and cars. They use natural gas as a fuel source instead of gasoline or diesel.
Some of the major companies in the commercial natural gas vehicles market are Cummins Westport, Daimler Trucks, General Motors Co, Iveco, MAN Trucks & Buses, Volvo Trucks, Cummins Westport.
The commercial natural gas vehicles market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Natural Gas Vehicles Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Natural Gas Vehicles Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Natural Gas Vehicles Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Natural Gas Vehicles Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Natural Gas Vehicles Market Size & Forecast, 2020-2028
4.5.1 Commercial Natural Gas Vehicles Market Size and Y-o-Y Growth
4.5.2 Commercial Natural Gas Vehicles Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Trucks
5.2.2 Vans
5.2.3 Buses & Coaches
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Transportation
6.2.2 Logistics
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Natural Gas Vehicles Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Natural Gas Vehicles Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Trucks
9.6.2 Vans
9.6.3 Buses & Coaches
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Transportation
9.10.2 Logistics
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Trucks
10.6.2 Vans
10.6.3 Buses & Coaches
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Transportation
10.10.2 Logistics
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Trucks
11.6.2 Vans
11.6.3 Buses & Coaches
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Transportation
11.10.2 Logistics
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Trucks
12.6.2 Vans
12.6.3 Buses & Coaches
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Transportation
12.10.2 Logistics
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Trucks
13.6.2 Vans
13.6.3 Buses & Coaches
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Transportation
13.10.2 Logistics
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Natural Gas Vehicles Market: Competitive Dashboard
14.2 Global Commercial Natural Gas Vehicles Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Cummins Westport
14.3.2 Daimler Trucks
14.3.3 General Motors Co
14.3.4 Iveco
14.3.5 MAN Trucks & Buses
14.3.6 Volvo Trucks
14.3.7 Cummins Westport
