Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market to 2024: Market is Set to Grow at a CAGR of 9.7%

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Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles

Compressed natural gas vehicle is an alternative fuel vehicle that uses compressed natural gas as the fuel rather than gasoline or diesel. CNG, or compressed natural gas, is stored at high pressure, 3,000 to 3,600 pounds per square inch (21 to 25 MPa). The required tank is more massive and costly than a conventional fuel tank. The CNG vehicle’s emissions are cleaner, with lower emissions of carbon and lower particulate emissions per equivalent distance traveled. There is generally less wasted fuel.

In the next five years, the Global consumption of CNG and LPG Vehicles will maintain about 10.85% annual growth rate.

The global average price of CNG and LPG vehicles is in the decreasing trend, from14.4 K USD/Unit in 2013 to 12.8 K USD/Unit g in 2018. With the situation of global economy and more company enter this industry; prices will be decreasing trend in the following five years.

MENA is a large consumption place, with a consumption market share nearly 27.85%. Following south Asia, China is another important consumption place with the consumption market share of 15.03% in 2017.

In 2017, there are two key reasons causing the huge decline of CNG Vehicles’ sales in China. One is China has introduced a new policy to limit motor vehicle “oil to gas”, another is the decline in gasoline price.

Market competition is intense. Fiat Chrysler, Volkswagen, Ford, General Motors, etc. are the leaders of the industry, and they hold high-end customers, and their products are famous in the world.

Industry concentration is deepening. China domestic CNG vehicles enterprises are increasing investment and absorbing foreign advanced technologies so that large companies will gain more market share.

According to this study, over the next five years the Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market will register a 9.7% CAGR in terms of revenue, the global market size will reach US$ 6530 million by 2024, from US$ 3740 million in 2019.

In particular, this report presents the global market share (sales and revenue) of key companies in Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market by product type, application, key manufacturers and key regions and countries.

Report Sample includes:
– Table of Contents
– List of Tables & Figures
– Charts
– Research Methodology

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This study considers the Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

  • Passenger Vehicle
  • Commercial Vehicle

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

  • Home Use
  • Commercial Use

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

  • Americas
  • United States
  • Canada
  • Mexico
  • Brazil
  • APAC
  • China
  • Japan
  • Korea
  • Southeast Asia
  • India
  • Australia
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Russia
  • Spain
  • Middle East & Africa
  • Egypt
  • South Africa
  • Israel
  • Turkey
  • GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.

  • Fiat Chrysler
  • Volkswagen
  • Ford
  • General Motors
  • Toyota
  • Iran Khodro
  • Nissan
  • Volvo Group
  • Hyundai
  • Honda
  • Suzuki
  • Mercedes-Benz
  • Renault
  • PSA
  • Great Wall Motors

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

  • To study and analyze the global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
  • To understand the structure of Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market by identifying its various subsegments.
  • Focuses on the key global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
  • To analyze the Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles with respect to individual growth trends, future prospects, and their contribution to the total market.
  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • To project the consumption of Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles submarkets, with respect to key regions (along with their respective key countries).
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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Global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles Market Growth 2019-2024 – 24 Market Reports

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