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 vehicles powered by propane (LPG), which is a fuel with a fundamentally different composition.
Market Analysis and Insights: Global CNG and LPG Vehicle Market
Due to the COVID-19 pandemic, the global CNG and LPG Vehicle market size is estimated to be worth US$ 2731.9 million in 2022 and is forecast to a readjusted size of US$ 3871.3 million by 2028 with a CAGR of 6.0% during the review period. Fully considering the economic change by this health crisis, Passenger Vehicle accounting for % of the CNG and LPG Vehicle global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Home Use segment is altered to an % CAGR throughout this forecast period.
In a natural gas powered vehicle, energy is released by combustion of essentially Methane gas (CH4) fuel with Oxygen (O2) from the air to 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 source.
In terms of production side, this report researches the CNG and LPG Vehicle capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of CNG and LPG Vehicle by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
Global CNG and LPG Vehicle Scope and Segment
CNG and LPG Vehicle market is segmented by Type and by Application. Players, stakeholders, and other participants in the global CNG and LPG Vehicle market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.
Segment by Type
Passenger Vehicle
Commercial Vehicle
Segment by Application
Home Use
Commercial Use
By Company
Maruti Suzuki
Volkswagen
Fiat
Honda
General Motors
Renault
Hyundai
Ford
Toyota
Iran Khodro
Volvo Group
PSA
Mercedes-Benz
Great Wall Motors
Production by Region
North America
Europe
China
Japan
South Korea
India
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E