Global CNG & LPG Vehicles Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global CNG & LPG Vehicles Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global CNG & LPG Vehicles market size was valued at USD 11980 million in 2023 and is forecast to a readjusted size of USD 15030 million by 2030 with a CAGR of 3.3% during review period.

A natural gas vehicle (NGV) is an alternative fuel vehicle that uses compressed natural gas (CNG) or liquefied natural gas (LNG). Natural gas vehicles should not be confused with autogas vehicles powered by liquefied petroleum gas (LPG), mainly propane, a fuel with a fundamentally different composition.

In a natural-gas-powered vehicle, energy is released by the combustion of methane gas (CH4) fuel with oxygen (O2) from the air to form carbon dioxide (CO2) and water vapor (H2O) in an internal combustion engine. Methane is the cleanest burning hydrocarbon, and many contaminants present in natural gas are removed at the source. Existing gasoline-powered vehicles may be converted to run on CNG or LNG and can be dedicated (running only on natural gas) or bi-fuel (running on either gasoline or natural gas). Diesel engines for heavy trucks and buses can also be converted and can be dedicated with the addition of new heads containing spark ignition systems, or can be run on a blend of diesel and natural gas, with the primary fuel being natural gas and a small amount of diesel fuel being used as an ignition source. It is also possible to generate energy in a small gas turbine and couple the gas engine or turbine with a small electric battery to create a hybrid electric motor-driven vehicle.

Global Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles key players include Fiat Chrysler, Volkswagen, Ford, General Motors, Toyota, etc. Global top 3 manufacturers hold a share over 35%.

Asia Pacific is the largest market, with a share over 50%, followed by Middle East & Africa and South America, both have a share about 33 percent.

In terms of product, CNG vehicle is the largest segment, with a share over 75%. And in terms of application, the largest application is passenger vehicle, followed by commercial vehicle.

The Global Info Research report includes an overview of the development of the CNG & LPG Vehicles industry chain, the market status of Passenger Vehicles (CNG, LPG), Light Commercial Vehicles (CNG, LPG), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of CNG & LPG Vehicles.

Regionally, the report analyzes the CNG & LPG Vehicles markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global CNG & LPG Vehicles market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the CNG & LPG Vehicles market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the CNG & LPG Vehicles industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K Units), revenue generated, and market share of different by Type (e.g., CNG, LPG).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the CNG & LPG Vehicles market.

Regional Analysis: The report involves examining the CNG & LPG Vehicles market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the CNG & LPG Vehicles market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to CNG & LPG Vehicles:

Company Analysis: Report covers individual CNG & LPG Vehicles manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards CNG & LPG Vehicles This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Passenger Vehicles, Light Commercial Vehicles).

Technology Analysis: Report covers specific technologies relevant to CNG & LPG Vehicles. It assesses the current state, advancements, and potential future developments in CNG & LPG Vehicles areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the CNG & LPG Vehicles market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

CNG & LPG Vehicles market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Market segment by Type
CNG
LPG

Market segment by Application
Passenger Vehicles
Light Commercial Vehicles
Other

Major players covered
Fiat
Hyundai
Suzuki
Volkswagen
Ford
General Motors
Honda
Nissan
Navistar
Tata

Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe CNG & LPG Vehicles product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of CNG & LPG Vehicles, with price, sales, revenue and global market share of CNG & LPG Vehicles from 2019 to 2024.

Chapter 3, the CNG & LPG Vehicles competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the CNG & LPG Vehicles breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and CNG & LPG Vehicles market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of CNG & LPG Vehicles.

Chapter 14 and 15, to describe CNG & LPG Vehicles sales channel, distributors, customers, research findings and conclusion.