Compressed Natural Gas and Liquified Petroleum Gas Vehicles Market

The global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market was valued at 4693.64 Million USD in 2021 and will grow with a CAGR of 9.86% from 2021 to 2027, based on Research newly published report.

The prime objective of Compressed Natural Gas and Liquified Petroleum Gas Vehicles Market is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, Compressed Natural Gas and Liquified Petroleum Gas Vehicles Market covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

Compressed natural gas vehicle is an alternative fuel vehicle that uses compressed natural gas as the fuel rather than gasoline or diesel. CNG, or compressed natural gas, is stored at high pressure, 3,000 to 3,600 pounds per square inch (21 to 25 MPa). The required tank is more massive and costly than a conventional fuel tank. The CNG vehicle`s emissions are cleaner, with lower emissions of carbon and lower particulate emissions per equivalent distance traveled. There is generally less wasted fuel.In the next five years, the Global consumption of CNG and LPG Vehicles will maintain about 10.85% annual growth rate. The global average price of CNG and LPG vehicles is in the decreasing trend, from14.4 K USD/Unit in 2013 to 12.8 K USD/Unit g in 2018. With the situation of global economy and more enter this industry; prices will be decreasing trend in the following five years. MENA is a large consumption place, with a consumption market share nearly 27.85%. Following south Asia, China is another important consumption place with the consumption market share of 15.03% in 2017. In 2017, there are two key reasons causing the huge decline of CNG Vehicles` sales in China. One is China has introduced a new policy to limit motor vehicle "oil to gas", another is the decline in gasoline price. Market competition is intense. Fiat Chrysler, Volkswagen, Ford, General Motors, etc. are the leaders of the industry, and they hold high-end customers, and their products are famous in the world. Industry concentration is deepening. China domestic CNG vehicles enterprises are increasing investment and absorbing foreign advanced technologies so that large companies will gain more market share.

By Market Verdors:

Fiat Chrysler

Volkswagen

Ford

General Motors

Toyota

Iran Khodro

Nissan

Volvo

Hyundai

Honda

Suzuki

Mercedes-Benz

Renault

PSA

Great Wall Motors

By Types:

Passenger Vehicle

Commercial Vehicle

By Applications:

Home Use

Commercial Use

Key Indicators Analysed

Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market?s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology

Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

Key Reasons to Purchase

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To understand the future outlook and prospects for the market.

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