Automotive Natural Gas Vehicle Market worth 418,889 Units by 2019

CNG & LPG Vehicle Market by Vehicle Type (Passenger Cars & Light Commercial Vehicles), Fuel Type (CNG & LPG), and by Geography (Asia-Pacific, Europe, Americas & ROW) - Industry Trends & Forecasts to 2020 CNG and LPG vehicles are an integral part of automobiles and play a key role in fuel efficiency, safety, comfort, and emission control. The growth of automotive CNG and LPG can be attributed to increasing use of alternative fuel in the automotive industry for cost effectiveness, fuel efficiency, and emission control. CNG and LPG vehicles market is estimated to grow at a CAGR of 10.55% from 2015 to PDF

Asia-Oceania: Potential growing market for CNG and LNG commercial vehicles Asia-Oceania includes developing countries, such as China and India and well developed countries such as South Korea. The large population, increase in industrialization activities, and the recent infrastructure development are the main factors driving the demand for trucks and buses. A significant portion of this demand is met by commercial vehicles running on natural gas fuels.

Europe: Market for retrofitted vehicles The European market is dominated by retrofitted vehicles due to the adoption of natural gas in trucks and buses running in Russia and Ukraine. These countries play a major role in the overall natural gas vehicle parc in the European market as well as in the global industry. The increasing application of natural gas in trucks and buses is the reason behind the new natural gas vehicle model line-up by major OEMs operating in this region. Factors such as government subsidies, policies, fuel price, availability of resources, and environmental benefits act as the drivers for this growth.

Americas: Increasing fuelling infrastructure is the main growth driver In Americas, Colombia and U.S. are the main markets for CNG powered trucks and buses which are growing along with the number of refueling stations. Fleet owners and governments are facing a challenge due to rising oil prices and the adverse effects of emission gases caused by diesel-powered trucks on the environment. The stringent emission norms laid down by regulatory bodies in developed countries are one of the key reasons behind the growing number of natural gas commercial vehicles. CNG is widely adopted in Colombia and U.S. and it is witnessing high growth due to cost and environmental benefits. Also, with the growing LNG fuelling infrastructure and network, LNG operated commercial vehicles will have significant share in the near future.

Browse >> 80 market data tables 66 figures 149 pages and in-depth TOC on “CNG & LPG Vehicle Market – Industry Trends & Forecasts to 2020” Early buyers will receive 10% customization on this report. This is a Premium Report Priced at US $5650 for single user. Corporate User : US$8150 This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

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