Market Overview:
The global natural gas heavy truck market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for natural gas as a fuel source for heavy trucks, owing to its benefits such as low emissions and high efficiency. In addition, the increasing focus on reducing greenhouse gas (GHG) emissions is also propelling the demand for natural gas-powered vehicles, which in turn is boosting the growth of the global natural gas heavy truck market. The type segment of the global natural gas heavy truck market is divided into LNG heavy trucks and CNG heavy trucks. The LNG segment dominated the market in 2017 and is expected to maintain its dominance duringthe forecast period from 2018to 2030. This can be attributed tothe growing popularityofLNG-powered vehicles due their lower emissions as compared with other fuel sources such as diesel or gasoline.
Product Definition:
A truck that runs on compressed natural gas (CNG), as opposed to gasoline or diesel. Natural gas is a cleaner-burning fuel than gasoline or diesel, and it is also cheaper. This makes CNG trucks a more environmentally friendly and economical choice for companies that run large fleets of trucks.
LNG Heavy Truck:
LNG heavy trucks are a new concept in the heavy truck industry. They use liquefied natural gas as their fuel and this gas is stored in tanks that are mounted on the roof of the truck.
CNG Heavy Truck:
CNG Heavy Trucks are a new concept of fuel-efficient heavy trucks that run on compressed natural gas (CNG). These vehicles have better fuel economy as compared to diesel and petrol-based heavy trucks. CNG Heavy Trucks can also be used in place of diesel or petrol-powered heavy trucks for short hauls up to 15 miles. The major advantage offered by these vehicles is reduced carbon footprint due to the use of clean energy source, which makes them ecofriendly.
Application Insights:
The application segment is bifurcated into civil and military. The civil application segment held a major share of the global natural gas heavy truck market in 2017. This can be attributed to growing demand for commercial vehicles in developed economies such as the U.S., Canada, France, Germany and the UK coupled with increasing LNG infrastructure across developing countries such as China, India, Brazil and Mexico.
Regional Analysis:
Asia Pacific was the largest market for natural gas heavy trucks and accounted for a share of more than 45% in 2017. The region is expected to continue its dominance over the forecast period. This growth can be attributed to increasing government initiatives coupled with rising investments by key players in developing infrastructure and new CNG/LNG heavy truck refilling stations across China, India, South Korea, Thailand, Malaysia and Indonesia.
The Asia Pacific has been witnessing strong economic growth over the past few years on account of increasing manufacturing activities across various industries including automotive, construction & services sector which is likely to propel product demand from 2018 to 2030 timeframe. Furthermore high investment in LNG fuel infrastructure development along with growing adoption of cleaner fuel alternatives such as natural gas will further boost industry expansion over next eight years thus driving overall revenue generation through 2030 timeframe.
Growth Factors:
- Increasing demand for natural gas as a fuel source for heavy trucks from commercial and industrial sectors due to its environmental benefits over diesel.
- Government regulations mandating the use of natural gas vehicles in order to reduce emissions from transportation sector.
- Development of refueling infrastructure for heavy trucks that run on natural gas, making it more accessible and convenient for fleet operators and drivers.
- Growing popularity of CNG (compressed natural gas) as a fuel option among fleet operators due to its lower cost and greater efficiency than diesel engines.
Scope Of The Report
Report Attributes
Report Details
Report Title
Natural Gas Heavy Truck Market Research Report
By Type
LNG Heavy Truck, CNG Heavy Truck
By Application
Civil, Military
By Companies
FAW Jiefang, Shaanxi Automobile Group, Sinotruk, Dongfeng Company, Dayun Heavy Truck, Foton Motor, SAIC Hongyan, United Truck, XCMG Heavy Truck, FAW Jiefang
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
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Natural Gas Heavy Truck Market Report Segments:
The global Natural Gas Heavy Truck market is segmented on the basis of:
Types
LNG Heavy Truck, CNG Heavy 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
Civil, Military
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:
- FAW Jiefang
- Shaanxi Automobile Group
- Sinotruk
- Dongfeng Company
- Dayun Heavy Truck
- Foton Motor
- SAIC Hongyan
- United Truck
- XCMG Heavy Truck
- FAW Jiefang
Highlights of The Natural Gas Heavy 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:
- LNG Heavy Truck
- CNG Heavy Truck
- By Application:
- Civil
- Military
- 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 Natural Gas Heavy 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?
A natural gas heavy truck is a type of commercial vehicle that uses compressed natural gas (CNG) as its primary fuel source. CNG-powered trucks are becoming increasingly popular because they are more environmentally friendly than traditional diesel or gasoline engines, and they offer significant fuel savings over time.
Some of the major companies in the natural gas heavy truck market are FAW Jiefang, Shaanxi Automobile Group, Sinotruk, Dongfeng Company, Dayun Heavy Truck, Foton Motor, SAIC Hongyan, United Truck, XCMG Heavy Truck, FAW Jiefang.
The natural gas heavy truck market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Natural Gas Heavy 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 Natural Gas Heavy Truck Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Natural Gas Heavy 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 Natural Gas Heavy 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 Natural Gas Heavy Truck Market Size & Forecast, 2018-2028
4.5.1 Natural Gas Heavy Truck Market Size and Y-o-Y Growth
4.5.2 Natural Gas Heavy Truck Market Absolute $ Opportunity
Chapter 5 Global Natural Gas Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Type
5.2.1 LNG Heavy Truck
5.2.2 CNG Heavy Truck
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Natural Gas Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Applications
6.2.1 Civil
6.2.2 Military
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Natural Gas Heavy 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 Natural Gas Heavy 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 Natural Gas Heavy Truck Analysis and Forecast
9.1 Introduction
9.2 North America Natural Gas Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Type
9.6.1 LNG Heavy Truck
9.6.2 CNG Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Applications
9.10.1 Civil
9.10.2 Military
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 Natural Gas Heavy Truck Analysis and Forecast
10.1 Introduction
10.2 Europe Natural Gas Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Type
10.6.1 LNG Heavy Truck
10.6.2 CNG Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Applications
10.10.1 Civil
10.10.2 Military
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 Natural Gas Heavy Truck Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Natural Gas Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Type
11.6.1 LNG Heavy Truck
11.6.2 CNG Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Applications
11.10.1 Civil
11.10.2 Military
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 Natural Gas Heavy Truck Analysis and Forecast
12.1 Introduction
12.2 Latin America Natural Gas Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Type
12.6.1 LNG Heavy Truck
12.6.2 CNG Heavy 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 Natural Gas Heavy Truck Market Size Forecast by Applications
12.10.1 Civil
12.10.2 Military
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) Natural Gas Heavy Truck Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Natural Gas Heavy 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) Natural Gas Heavy Truck Market Size Forecast by Type
13.6.1 LNG Heavy Truck
13.6.2 CNG Heavy 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) Natural Gas Heavy Truck Market Size Forecast by Applications
13.10.1 Civil
13.10.2 Military
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 Natural Gas Heavy Truck Market: Competitive Dashboard
14.2 Global Natural Gas Heavy Truck Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 FAW Jiefang
14.3.2 Shaanxi Automobile Group
14.3.3 Sinotruk
14.3.4 Dongfeng Company
14.3.5 Dayun Heavy Truck
14.3.6 Foton Motor
14.3.7 SAIC Hongyan
14.3.8 United Truck
14.3.9 XCMG Heavy Truck
14.3.10 FAW Jiefang
