The natural gas vehicles are vehicles that use compressed or liquefied natural gas as fuel. Increasing government support favoring the adoption of these vehicles is stimulating the demand for these vehicles. Technological advancements in the production and handling of natural gas are complementing the growth of the natural gas vehicle market during the forecast period. Asia Pacific region is expected to emerge as the largest market with the adoption of natural gas vehicles in India, Pakistan, and China.
The natural gas vehicle market is anticipated to grow in the forecast period owing to driving factors such as the fuel cost efficiency of these vehicles over petroleum-based fuels and environmental concerns. Moreover, increasing government regulations and initiatives are further encouraging the growth of the natural gas vehicle market. However, slow growth infrastructure and associated high cost may restrict the natural gas vehicle market during the forecast period. Nonetheless, growing applications of natural gas is likely to provide opportunities for the natural gas vehicle market in the coming years.
The "Global Natural Gas Vehicle Market Analysis to 2027" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of natural gas vehicle market with detailed market segmentation by fuel type, application, vehicle type, and geography. The global natural gas vehicle market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading natural gas vehicle market players and offers key trends and opportunities in the market.
The global natural gas vehicle market is segmented on the basis of fuel type, application, and vehicle type. Based on fuel type, the market is segmented as compressed natural gas and liquefied natural gas. On the basis of the application, the market is segmented as on road and off road. The market on the basis of the vehicle type is classified as passenger vehicles, light and commercial vehicles, and heavy commercial vehicles.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global natural gas vehicle market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The natural gas vehicle market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting natural gas vehicle market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the natural gas vehicle market in these regions.
The reports cover key developments in the natural gas vehicle market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from natural gas vehicle market are anticipated to lucrative growth opportunities in the future with the rising demand for natural gas vehicle in the global market. Below mentioned is the list of few companies engaged in the natural gas vehicle market.
The report also includes the profiles of key natural gas vehicle companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- AB Volvo
- Agility Fuel Solutions LLC
- American Honda Motor Company
- CNH Industrial N.V.
- Cummins Westport
- General Motors
- Navistar Inc.
- PACCAR Inc.
- The Ford Motor Company
- Volkswagen AG
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.