Global Automotive Natural Gas Vehicle Market By Fuel Type (Compressed Natural Gas, Liquefied Natural Gas), Vehicle Type (Passenger, Commercial, Light-Duty & Heavy-Duty Buses and Trucks, Three-wheelers, Motorcycles, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Automotive Natural Gas Vehicle Market
Global automotive natural gas vehicle market is set to witness a substantial CAGR in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. Rising application of natural gas is the major factor for the growth of this market.
Market Definition: Global Automotive Natural Gas Vehicle Market
Automotive natural gas vehicle are those vehicle that uses liquefied natural gas and compressed natural gas as the substitute fuels. In these vehicles, the power is usually generated by the ignition of methane gas and oxygen into carbon dioxide and water. These natural gas vehicles are very safe and cheaper as compared to the normal vehicles. Increasing concern among population about the environment safety is major factor for the growth of this market.
- Rising demand for cost- efficient fuel alternative is driving the growth of this market
- Increasing concern for environmental security is another factor is driving the growth of this market
- High price of the automotive natural gas vehicle is restraining the market growth
- Lack of awareness about automotive natural gas vehicle among population is another important factor restraining the market growth
Segmentation: Global Automotive Natural Gas Vehicle Market
By Fuel Type
- Compressed Natural Gas
- Liquefied Natural Gas
By Vehicle Type
- Light-Duty & Heavy-Duty Buses and Trucks
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In March 2017, BP p.l.c have partnered with the Clean Energy so that together they can expand the capabilities of renewable natural gas transportation fueling. The BP will acquire the upstream RNG business so that they can support the firm’s renewable natural gas business. The main aim is to meet the growing requirement of the renewable natural gas
- In May 2017, Total announced that they have acquired PitPoint B.V. The main aim of the acquisition is to expand them in the natural gas vehicle fuel sector so that they can serve better service to the trucking and professional transporting industry. This is a part of the Total’s strategy to enhance their low- carbon business by advancement and development in the natural gas
Global automotive natural gas vehicle market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive natural gas vehicle market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the automotive natural gas vehicle market are Agility, AB Volvo, Foton Motor Inc., CNH Industrial N.V., Clean Energy Fuels, Cummins Inc, PACCAR Inc., Navistar, Inc, Quantum Fuel Systems LLC., Westport Fuel Systems Inc., Daimler AG., Landi Renzo S.p.a, Westport, Isuzu Motors Ltd, General Motors, Caterpillar, Volkswagen AG, TOYOTA MOTOR CORPORATION.
Research Methodology: Global Automotive Natural Gas Vehicle Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved