Market Overview:
The global LNG truck market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for LNG trucks for transportation and construction applications. Additionally, stringent emission norms are also driving the demand for LNG trucks globally. North America is expected to lead the global LNG truck market during the forecast period, followed by Europe and Asia Pacific. Latin America and Middle East & Africa are expected to witness moderate growth in the market during the forecast period.
Product Definition:
LNG truck is a type of truck that uses liquefied natural gas (LNG) as its fuel. LNG is a cleaner-burning fuel than gasoline or diesel and has the potential to reduce emissions of greenhouse gases.
Tractor Truck:
Tractor truck is a type of heavy-duty commercial vehicle used to haul freight. It is generally designed with a low profile and high load carrying capacity. Tractor trucks are usually equipped with mechanical brakes, large tires, and an engine powerful enough to propel the vehicle at higher speeds. The global demand for LNG truck has witnessed significant growth over the past few years owing to its ability to reduce fuel costs by up to 20%.
Dump Truck:
Dump truck is a specialized truck that is used to transport waste and recyclable material from one place to another. It has a large body with rear doors that make it easy for the operator and passenger to load or unload the cargo. Dump trucks are primarily used in industries such as construction, mining, waste removal, etc., where they are loaded with debris from construction sites or mines and taken to dumping grounds.
Application Insights:
The transportation segment dominated the global LNG truck market in 2017 and is expected to witness significant growth over the forecast period. The increasing use of natural gas as fuel for trucks on account of its lower carbon emissions is projected to drive the demand for LNG-powered trucks in this application segment. In addition, growing adoption of such vehicles across shipping companies as they provide higher efficiency, better performance and reduced environmental impact coupled with low maintenance cost are anticipated to propel industry growth over the coming years.
Construction was one of the prominent applications that accounted for a significant share in 2017 owing to rising awareness about environment protection among consumers, which has resulted in increased focus on using alternative fuels including compressed natural gas (CNG) and liquefied petroleum gas (LPG). Growing construction activities across various regions are anticipated to further boost industry expansion over the forecast period.
Regional Analysis:
Asia Pacific was the largest regional market in 2017 and accounted for a volume share of over 60%. The region is expected to continue its dominance over the forecast period. Increasing demand from emerging economies, such as China and India, is likely to drive the growth. Rising investments in LNG infrastructure are also expected to have a positive impact on industry growth. For instance, In April 2018, Royal Dutch Shell announced plans for building one of its biggest gas stations with an annual capacity of around 300 million cubic meters at Chabahar port in Iran’s southeastern province of Chabahar. This development will help Shell meet growing demand from customers across South Asia and beyond.
North America emerged as the second-largest consumer due to increasing use across applications including construction sector and transportation sector coupled with rising fuel efficiency standards set by U.S Environmental Protection Agency (EPA).
Growth Factors:
- Increasing demand for natural gas as a transportation fuel
- Stringent environmental regulations for diesel vehicles
- High price of crude oil and volatility in prices
- Availability of LNG infrastructure, including refueling stations
- Government subsidies and incentives for the use of natural gas vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
LNG Truck Market Research Report
By Type
Tractor Truck, Dump Truck, Other
By Application
Transportation, Construction, Other
By Companies
Sinotruk Group, Shaanxi Automobile Group, Faw jiefang, China International Marine Containers (Group), Fiat Industrial, Daimler, Volvo Trucks, Scania, Paccar, ISUZU
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 LNG Truck Market Report Segments:
The global LNG Truck market is segmented on the basis of:
Types
Tractor Truck, Dump Truck, Other
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, Construction, Other
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:
- Sinotruk Group
- Shaanxi Automobile Group
- Faw jiefang
- China International Marine Containers (Group)
- Fiat Industrial
- Daimler
- Volvo Trucks
- Scania
- Paccar
- ISUZU
Highlights of The LNG 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:
- Tractor Truck
- Dump Truck
- Other
- By Application:
- Transportation
- Construction
- Other
- 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 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 truck is a type of tanker truck that can transport liquefied natural gas.
Some of the major players in the lng truck market are Sinotruk Group, Shaanxi Automobile Group, Faw jiefang, China International Marine Containers (Group), Fiat Industrial, Daimler, Volvo Trucks, Scania, Paccar, ISUZU.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. LNG Truck 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. LNG Truck Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. LNG Truck Market - Supply Chain
4.5. Global LNG Truck Market Forecast
4.5.1. LNG Truck Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. LNG Truck Market Size (000 Units) and Y-o-Y Growth
4.5.3. LNG Truck Market Absolute $ Opportunity
5. Global LNG Truck 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. LNG Truck Market Size and Volume Forecast by Type
5.3.1. Tractor Truck
5.3.2. Dump Truck
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global LNG Truck 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. LNG Truck Market Size and Volume Forecast by Application
6.3.1. Transportation
6.3.2. Construction
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global LNG Truck 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. LNG Truck 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 LNG Truck 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. LNG Truck 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 LNG Truck Demand Share Forecast, 2019-2026
9. North America LNG Truck 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 LNG Truck 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 LNG Truck Market Size and Volume Forecast by Application
9.4.1. Transportation
9.4.2. Construction
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America LNG Truck Market Size and Volume Forecast by Type
9.7.1. Tractor Truck
9.7.2. Dump Truck
9.7.3. Other
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 LNG Truck Demand Share Forecast, 2019-2026
10. Latin America LNG Truck 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 LNG Truck 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 LNG Truck Market Size and Volume Forecast by Application
10.4.1. Transportation
10.4.2. Construction
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America LNG Truck Market Size and Volume Forecast by Type
10.7.1. Tractor Truck
10.7.2. Dump Truck
10.7.3. Other
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 LNG Truck Demand Share Forecast, 2019-2026
11. Europe LNG Truck 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 LNG Truck 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 LNG Truck Market Size and Volume Forecast by Application
11.4.1. Transportation
11.4.2. Construction
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe LNG Truck Market Size and Volume Forecast by Type
11.7.1. Tractor Truck
11.7.2. Dump Truck
11.7.3. Other
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. ByProduct Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe LNG Truck Demand Share, 2019-2026
12. Asia Pacific LNG Truck 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 LNG Truck 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 LNG Truck Market Size and Volume Forecast by Application
12.4.1. Transportation
12.4.2. Construction
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific LNG Truck Market Size and Volume Forecast by Type
12.7.1. Tractor Truck
12.7.2. Dump Truck
12.7.3. Other
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 LNG Truck Demand Share, 2019-2026
13. Middle East & Africa LNG Truck 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 LNG Truck 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 LNG Truck Market Size and Volume Forecast by Application
13.4.1. Transportation
13.4.2. Construction
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa LNG Truck Market Size and Volume Forecast by Type
13.7.1. Tractor Truck
13.7.2. Dump Truck
13.7.3. Other
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 LNG Truck Demand Share, 2019-2026
14. Competition Landscape
14.1. Global LNG Truck Market: Market Share Analysis
14.2. LNG Truck Distributors and Customers
14.3. LNG Truck Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Sinotruk Group
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Shaanxi Automobile Group
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Faw jiefang
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. China International Marine Containers (Group)
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Fiat Industrial
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Daimler
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Volvo Trucks
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Scania
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Paccar
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. ISUZU
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
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
