CNG and LPG Vehicle Market - Trends Forecast Till 2028

CNG and LPG Vehicle Market, By Vehicle Body Type (Passenger Cars, Three-wheelers & Commercial Vehicles) Fuel Type (CNG & LPG), By Kit type (Venturi & Sequential), By Fitting (OE & Aftermarket), By Engine System Type and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa and South America)

Published Date: March, 2021

Base Year Estimate: 2020

Report ID: D-AU-CLVM-113

Format:  

Number of Pages: 197

Domain: Automotive

CNG and LPG Vehicle Market – Trends Forecast Till 2028

Global CNG and LPG Vehicle Market are anticipated to reach USD 2,135 thousand units in 2021 growing at a CAGR of 15.6% during the forecasting period, 2021-2028. 

A CNG or LPG vehicle is an alternative fuel vehicle to the conventional petrol and diesel automobile. CNG is compressed natural gas whereas LPG is liquefied petroleum gas composing of propane majorly. These both are cleaner fuels as they undergo complete combustion emitting CO2 and H2O as the residue. They are not just eco-friendly but are also cost-effective and convenient. The technology used for CNG and LPG is very different from each other.

Increased demand and supply of automobiles and the increased price of petrol in the market are some of the factors that have supported long-term expansion for the CNG and LPG vehicle industry. 

Global CNG and LPG Vehicle Market are segmented into Vehicle Body Type, Fuel Type, By Kit type, By Fitting, Engine System Type, and geography.

Vehicle body type segment is segmented into Passenger Cars, Three-wheelers l& Commercial Vehicles

The fuel type segment is segmented into CNG & LPG

The kit type segment is segmented into Venturi & Sequential

A fitting segment is segmented into OE & Aftermarket

Geographically, the global CNG and LPG Vehicle Market is sub-segmented into North America, Europe, Asia-Pacific, Middle East, and Africa, and South America, and insights are provided for each region and major countries within the regions

Key players in the global CNG and LPG Vehicle Market are Suzuki Motor Corporation (Japan), Honda Motor Company (Japan), Hyundai Motor Group (South Korea), Volkswagen AG (Germany), Ford Motor Company (US) among others. 

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, a conference like Jefferies conference)—to identify and collect information useful for this study of the Global CNG and LPG Vehicle Market. The purpose of secondary research was to identify and collection of extensive, technical, market-oriented, and commercial study the global CNG and LPG Vehicle Market. Through secondary, the market is classified and segmented as per of industry trend, development, regional market. Product and technology development. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess prospects. The following figure depicts the market research methodology used in drafting this report on the Global CNG and LPG Vehicle Market.

The primary Respondent breakdown is given below:

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the Global CNG and LPG Vehicle Market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data we contact the primary respondent to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

Reasons to Acquire

  • Increase your understanding of the market for identifying the suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
  • Gain authentic and granular data access for Global CNG and LPG Vehicle Market to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 2,135 thousand units

Growth Rate

CAGR of 15.6% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year 

2020

Units Considered

Thousand Units and CAGR from 2021 to 2028

Report Segmentation

 Vehicle Body Type,  Fuel Type, By Kit type, By Fitting, by Engine System Type and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and the Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Suzuki Motor Corporation (Japan), Honda Motor Company (Japan), Hyundai Motor Group (South Korea), Volkswagen AG (Germany), Ford Motor Company (US)

Available Customization 

In addition to the market data for Global CNG and LPG Vehicle Market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.

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