Market Overview:
The global LNG heavy-duty truck market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for natural gas as a fuel source for heavy-duty trucks, owing to its lower emissions and environmental benefits as compared to other conventional fuels. Additionally, the increasing focus on reducing greenhouse gas (GHG) emissions is also propelling the adoption of LNG-powered trucks across various applications. The global LNG heavy-duty truck market can be segmented on the basis of type into single fuel natural gas heavy duty truck and dual fuel natural gas heavy duty truck. The dual fuel segment is expected to account for a larger share of the market in terms of revenue, owing to its higher efficiency and lower operating costs as compared to single fuel trucks. On the basis of application, transportation industry accounted for majority share in 2017 and is projected witness highest growth during forecast period due stringent emission norms by regulatory bodies such as EPA (Environmental Protection Agency) in North America region .
Product Definition:
LNG heavy-duty truck is a commercial vehicle that runs on liquefied natural gas. LNG is a cleaner-burning fuel than diesel and gasoline, making it an attractive option for companies looking to reduce their emissions. LNG trucks are also quieter than traditional diesel trucks, making them preferable for use in urban areas.
Single Fuel Natural Gas Heavy Duty Truck:
Single fuel natural gas heavy-duty truck is a type of commercial vehicle that uses only one fuel, which is gaseous single fuel (LNG) for transportation of goods. It has higher operating efficiency as compared to diesel or petrol trucks and hence can reduce the cost per ton transported. The use of LNG in these trucks reduces harmful emissions and hence improves the overall environmental impact.
Dual Fuel Natural Gas Heavy Duty Truck:
The dual fuel natural gas heavy-duty truck is a type of commercial vehicle that can run on both diesel and natural gas. It has been designed to carry bulk quantities of liquid petroleum gases, which are used as the primary energy source for transportation and industrial applications.
Application Insights:
The transportation industry accounted for the largest share in 2016 and is expected to continue its dominance over the forecast period. The rapidly growing automotive sector in China, India, and Japan on account of increasing per capita car ownership rates is expected to drive demand for natural gas-powered trucks. Furthermore, supportive government regulations are anticipated to spur growth further.
Building & construction segment was one of the prominent applications that witnessed significant growth owing to increased use of heavy machinery and equipment in this sector. In addition, favorable regulatory policies regarding reduction in diesel emission levels are projected to boost product demand from this segment significantly over the forecast period as a result of which it accounts for a considerable market share globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a growing demand for natural gas heavy-duty trucks since 2012, which was earlier fulfilled through imports from LNG suppliers such as Qatar and Malaysia. Growing domestic production of natural gas coupled with increasing infrastructure activities in countries such as China, India, Indonesia and Thailand are anticipated to drive the regional market growth over the forecast period.
The Asia Pacific is also likely to be one of the largest consumers of heavy-duty natural gas vehicles on account of rising investments by various governments across economies including China, India Japan South Korea Australia Singapore Thailand Vietnam New Zealand Philippines Saudi Arabia UAE Kuwait Oman Brazil Colombia Mexico Russia Nigeria among others. Increasing government initiatives towards implementation of CNG/LPG systems across several Asian countries are further expected to boost product demand over next eight years (2018 To 2030).
Growth Factors:
- Increasing demand for LNG as a fuel source for heavy-duty trucks from commercial and industrial sectors due to its environmental benefits over diesel.
- Stringent emission norms by regulatory authorities across the globe are aiding the growth of the LNG truck market.
- Proliferation of natural gas infrastructure, especially in developing countries, is providing a thrust to the market growth.
- Growing popularity of dual-fuel engines that can run on both diesel and natural gas is propelling the demand for LNG trucks globally.
Scope Of The Report
Report Attributes
Report Details
Report Title
LNG Heavy-duty Truck Market Research Report
By Type
Single Fuel Natural Gas Heavy Duty Truck, Dual Fuel Natural Gas Heavy Duty Truck
By Application
Transportation Industry, Building Industry, Others
By Companies
Iveco, Volvo Trucks, CNHTC, Shaanxi Automobile Group, Faw jiefang, Cimc, Foton Motor, Dongfeng Trucks, Beiben Trucks, Daimler, Iveco, Isuzu Motors Ltd
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
152
Number of Tables & Figures
107
Customization Available
Yes, the report can be customized as per your need.
Global LNG Heavy-duty Truck Market Report Segments:
The global LNG Heavy-duty Truck market is segmented on the basis of:
Types
Single Fuel Natural Gas Heavy Duty Truck, Dual Fuel Natural Gas Heavy Duty Truck
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 Industry, Building Industry, 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:
- Iveco
- Volvo Trucks
- CNHTC
- Shaanxi Automobile Group
- Faw jiefang
- Cimc
- Foton Motor
- Dongfeng Trucks
- Beiben Trucks
- Daimler
- Iveco
- Isuzu Motors Ltd
Highlights of The LNG Heavy-duty Truck 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:
- Single Fuel Natural Gas Heavy Duty Truck
- Dual Fuel Natural Gas Heavy Duty Truck
- By Application:
- Transportation Industry
- Building Industry
- 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 LNG Heavy-duty Truck 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?
LNG Heavy-duty Truck is a type of truck that uses liquefied natural gas (LNG) as its fuel. LNG trucks are typically used for transporting goods over long distances, and they are often more fuel efficient than traditional diesel trucks.
Some of the major players in the lng heavy-duty truck market are Iveco, Volvo Trucks, CNHTC, Shaanxi Automobile Group, Faw jiefang, Cimc, Foton Motor, Dongfeng Trucks, Beiben Trucks, Daimler, Iveco, Isuzu Motors Ltd.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 LNG Heavy-duty Truck 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 LNG Heavy-duty Truck Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 LNG Heavy-duty Truck 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 LNG Heavy-duty Truck 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 LNG Heavy-duty Truck Market Size & Forecast, 2018-2028
4.5.1 LNG Heavy-duty Truck Market Size and Y-o-Y Growth
4.5.2 LNG Heavy-duty Truck Market Absolute $ Opportunity
Chapter 5 Global LNG Heavy-duty Truck 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 LNG Heavy-duty Truck Market Size Forecast by Type
5.2.1 Single Fuel Natural Gas Heavy Duty Truck
5.2.2 Dual Fuel Natural Gas Heavy Duty Truck
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global LNG Heavy-duty Truck 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 LNG Heavy-duty Truck Market Size Forecast by Applications
6.2.1 Transportation Industry
6.2.2 Building Industry
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global LNG Heavy-duty Truck 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 LNG Heavy-duty Truck 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 LNG Heavy-duty Truck Analysis and Forecast
9.1 Introduction
9.2 North America LNG Heavy-duty Truck 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 LNG Heavy-duty Truck Market Size Forecast by Type
9.6.1 Single Fuel Natural Gas Heavy Duty Truck
9.6.2 Dual Fuel Natural Gas Heavy Duty Truck
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 LNG Heavy-duty Truck Market Size Forecast by Applications
9.10.1 Transportation Industry
9.10.2 Building Industry
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 LNG Heavy-duty Truck Analysis and Forecast
10.1 Introduction
10.2 Europe LNG Heavy-duty Truck 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 LNG Heavy-duty Truck Market Size Forecast by Type
10.6.1 Single Fuel Natural Gas Heavy Duty Truck
10.6.2 Dual Fuel Natural Gas Heavy Duty Truck
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 LNG Heavy-duty Truck Market Size Forecast by Applications
10.10.1 Transportation Industry
10.10.2 Building Industry
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 LNG Heavy-duty Truck Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific LNG Heavy-duty Truck 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 LNG Heavy-duty Truck Market Size Forecast by Type
11.6.1 Single Fuel Natural Gas Heavy Duty Truck
11.6.2 Dual Fuel Natural Gas Heavy Duty Truck
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 LNG Heavy-duty Truck Market Size Forecast by Applications
11.10.1 Transportation Industry
11.10.2 Building Industry
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 LNG Heavy-duty Truck Analysis and Forecast
12.1 Introduction
12.2 Latin America LNG Heavy-duty Truck 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 LNG Heavy-duty Truck Market Size Forecast by Type
12.6.1 Single Fuel Natural Gas Heavy Duty Truck
12.6.2 Dual Fuel Natural Gas Heavy Duty Truck
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 LNG Heavy-duty Truck Market Size Forecast by Applications
12.10.1 Transportation Industry
12.10.2 Building Industry
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) LNG Heavy-duty Truck Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) LNG Heavy-duty Truck 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) LNG Heavy-duty Truck Market Size Forecast by Type
13.6.1 Single Fuel Natural Gas Heavy Duty Truck
13.6.2 Dual Fuel Natural Gas Heavy Duty Truck
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) LNG Heavy-duty Truck Market Size Forecast by Applications
13.10.1 Transportation Industry
13.10.2 Building Industry
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 LNG Heavy-duty Truck Market: Competitive Dashboard
14.2 Global LNG Heavy-duty Truck Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Iveco
14.3.2 Volvo Trucks
14.3.3 CNHTC
14.3.4 Shaanxi Automobile Group
14.3.5 Faw jiefang
14.3.6 Cimc
14.3.7 Foton Motor
14.3.8 Dongfeng Trucks
14.3.9 Beiben Trucks
14.3.10 Daimler
14.3.11 Iveco
14.3.12 Isuzu Motors Ltd
