Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

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.

According to our (Global Info Research) latest study, the global Compressed Natural Gas and Liquefied Natural Gas Vehicle market size was valued at US$ 12840 million in 2023 and is forecast to a readjusted size of USD 23640 million by 2030 with a CAGR of 9.2% during review period.

Global key players of compressed natural gas and liquefied natural gas vehicle include Maruti Suzuki, Iran Khodro, Volkswagen, Hyundai Motor, Stellantis, etc. Global top five manufacturers hold a share over 42%. India is the largest producer of compressed natural gas and liquefied natural gas vehicle, holds a share over 18%. In terms of product, CNG vehicle is the largest segment, with a share over 73%. And in terms of application, the largest application is passenger vehicle, with a share over 75%, followed by commercial vehicle.

This report is a detailed and comprehensive analysis for global Compressed Natural Gas and Liquefied Natural Gas Vehicle market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2024, are provided.

Key Features:

Global Compressed Natural Gas and Liquefied Natural Gas Vehicle market size and forecasts, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2019-2030

Global Compressed Natural Gas and Liquefied Natural Gas Vehicle market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2019-2030

Global Compressed Natural Gas and Liquefied Natural Gas Vehicle market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2019-2030

Global Compressed Natural Gas and Liquefied Natural Gas Vehicle market shares of main players, shipments in revenue ($ Million), sales quantity (Units), and ASP (US$/Unit), 2019-2024

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Compressed Natural Gas and Liquefied Natural Gas Vehicle

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Compressed Natural Gas and Liquefied Natural Gas Vehicle market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Maruti Suzuki, Iran Khodro, Volkswagen, Hyundai Motor, Stellantis, FAW Group, Chang'an Automobile, General Motors, Honda, Volvo Truck, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Compressed Natural Gas and Liquefied Natural Gas Vehicle 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. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
CNG Vehicle
LNG Vehicle

Market segment by Application
Passenger Vehicle
Commercial Vehicle

Major players covered
Maruti Suzuki
Iran Khodro
Volkswagen
Hyundai Motor
Stellantis
FAW Group
Chang'an Automobile
General Motors
Honda
Volvo Truck
IVECO
Scania

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 Compressed Natural Gas and Liquefied Natural Gas Vehicle product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Compressed Natural Gas and Liquefied Natural Gas Vehicle, with price, sales quantity, revenue, and global market share of Compressed Natural Gas and Liquefied Natural Gas Vehicle from 2019 to 2024.

Chapter 3, the Compressed Natural Gas and Liquefied Natural Gas Vehicle competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Compressed Natural Gas and Liquefied Natural Gas Vehicle 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 by Application, with sales market share and growth rate by Type, by 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 2019 to 2024.and Compressed Natural Gas and Liquefied Natural Gas Vehicle market forecast, by regions, by Type, and by 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 Compressed Natural Gas and Liquefied Natural Gas Vehicle.

Chapter 14 and 15, to describe Compressed Natural Gas and Liquefied Natural Gas Vehicle sales channel, distributors, customers, research findings and conclusion.