Automotive Natural Gas Vehicle - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Automotive Natural Gas Vehicle Market is accounted for $6,888.10 million in 2019 and is expected to reach $13,327.17 million by 2027 growing at a CAGR of 8.6% during the forecast period. Some of the key factors propelling the market growth are depletion of fossil fuels, growing acceptance of eco-friendly alternatives, and supportive government initiatives regarding the use of natural gas vehicles. However, the high cost is the restraining factor for the growth of the market.
A vehicle that makes use of liquefied natural gas or natural gas as a cleaner alternative to other fossil fuels is known as a natural gas vehicle. Natural gas is considered environment-friendly.
By fuel type, the compressed natural gas (CNG) segment is expected to grow at a significant market share during the forecast period as it is less toxic and results in a lower impact on the environment. Based on geography, Asia Pacific is anticipated to hold considerable market share during the forecast period owing to the strict government regulations regarding the automotive emission.
Some of the key players in Automotive Natural Gas Vehicle Market include Daimler AG, AB Volvo, Clean Air Power Ltd, Clean Energy Fuels Corp, CNH Industrial NV, Beiqi Foton Motor Co Ltd, Agility Fuel Systems Inc, Westport Innovations Inc, Dongfeng Motor Group Company Limited, and Landi Renzo SPA.
Vehicle Types Covered:
• Passenger Vehicles
• Commercial Vehicles
Fuel Types Covered:
• Liquefied Natural Gas (LNG)
• Compressed Natural Gas (CNG)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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