CNG and LPG Vehicle Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: CNG and LPG Vehicle Market covers analysis By Fuel Type (CNG Fuel Type, LPG Fuel Type); Vehicle Type (Passenger Car, Light Commercial Vehicles) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00014503
  • Category : Automotive and Transportation
  • Status : Upcoming
  • No. of Pages : 150
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MARKET INTRODUCTION

CNG and LPG vehicles are a modified vehicle that does not employ the old-style fuel options; instead, they utilize CNG and LPG for their functioning. They comprise the combustion of the gas, such as methane, in an internal combustion engine through which energy is released, and the vehicles are able to function and move. LPG includes the usage and combustion of butane and propane in an internal combustion engine, and it is an eco-friendly fuel substitute to the traditional forms of energy sources available.

MARKET DYNAMICS

CNG and LPG vehicles have significantly inexpensive running costs over gasoline vehicles, which is one of the major factors driving the growth of the CNG and LPG vehicle market. Moreover, public awareness regarding air quality is another factor anticipated to boost the growth of the CNG and LPG vehicle market.

MARKET SCOPE

The "Global CNG and LPG Vehicle Market Analysis to 2028" is a specialized and in-depth study of the CNG and LPG vehicle market with a special focus on the global market trend analysis. The report aims to provide an overview of CNG and LPG vehicle market with detailed market segmentation by fuel type, vehicle type. The global CNG and LPG vehicle market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading CNG and LPG vehicle market players and offers key trends and opportunities in the CNG and LPG vehicle market.

MARKET SEGMENTATION

The global CNG and LPG vehicle market is segmented on the basis of fuel type, vehicle type. On the basis of fuel type, the market is segmented as CNG fuel type, LPG fuel type. On the basis of vehicle type, the market is segmented as passenger cars, light commercial vehicles.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global CNG and LPG vehicle market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The CNG and LPG vehicle market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

`The report analyzes factors affecting CNG and LPG vehicle market from both demand and supply side and further evaluates market dynamics effecting 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 America after evaluating political, economic, social and technological factors effecting the CNG and LPG vehicle market in these regions.

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MARKET PLAYERS


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global CNG and LPG vehicle market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The CNG and LPG vehicle market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

`The report analyzes factors affecting CNG and LPG vehicle market from both demand and supply side and further evaluates market dynamics effecting 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 America after evaluating political, economic, social and technological factors effecting the CNG and LPG vehicle market in these regions.

MARKET PLAYERS

The reports cover key developments in the CNG and LPG 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 way for expansion of business and customer base of market players. The market players from CNG and LPG vehicle market are anticipated to lucrative growth opportunities in the future with the rising demand for CNG and LPG vehicle market. Below mentioned is the list of few companies engaged in the CNG and LPG vehicle market.

The report also includes the profiles of key CNG and LPG vehicle market 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 last 3 years, key development in past five years.

  •   AC Spolka
  •   Fiat Chrysler Automobiles NV
  •   Ford Motor Company
  •   Honda Motor Company
  •   Hyundai Motor Company
  •   KION Group
  •   Landi Renzo S.P.A
  •   Nikki Co.,Ltd
  •   Suzuki Motor Corporation
  •   Volkswagen

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.
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

TABLE OF CONTENTS


1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1CNG And LPG Vehicle Market - By Fuel Type
1.3.2CNG And LPG Vehicle Market - By Vehicle Type
1.3.3CNG And LPG Vehicle Market - By Region
1.3.3.1By Country

2.KEY TAKEAWAYS

3.RESEARCH METHODOLOGY

4.CNG AND LPG VEHICLE MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS

5.CNG AND LPG VEHICLE MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS

6.CNG AND LPG VEHICLE MARKET - GLOBAL MARKET ANALYSIS
6.1.CNG AND LPG VEHICLE - GLOBAL MARKET OVERVIEW
6.2.CNG AND LPG VEHICLE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE

7.CNG AND LPG VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - FUEL TYPE
7.1.OVERVIEW
7.2.FUEL TYPE MARKET FORECASTS AND ANALYSIS
7.3.CNG FUEL TYPE
7.3.1.Overview
7.3.2.CNG Fuel Type Market Forecast and Analysis
7.4.LPG FUEL TYPE
7.4.1.Overview
7.4.2.LPG Fuel Type Market Forecast and Analysis
8.CNG AND LPG VEHICLE MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
8.1.OVERVIEW
8.2.VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
8.3.PASSENGER CAR
8.3.1.Overview
8.3.2.Passenger Car Market Forecast and Analysis
8.4.LIGHT COMMERCIAL VEHICLES
8.4.1.Overview
8.4.2.Light Commercial Vehicles Market Forecast and Analysis

9.CNG AND LPG VEHICLE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America CNG And LPG Vehicle Market Overview
9.1.2North America CNG And LPG Vehicle Market Forecasts and Analysis
9.1.3North America CNG And LPG Vehicle Market Forecasts and Analysis - By Fuel Type
9.1.4North America CNG And LPG Vehicle Market Forecasts and Analysis - By Vehicle Type
9.1.5North America CNG And LPG Vehicle Market Forecasts and Analysis - By Countries
9.1.5.1United States CNG And LPG Vehicle Market
9.1.5.1.1United States CNG And LPG Vehicle Market by Fuel Type
9.1.5.1.2United States CNG And LPG Vehicle Market by Vehicle Type
9.1.5.2Canada CNG And LPG Vehicle Market
9.1.5.2.1Canada CNG And LPG Vehicle Market by Fuel Type
9.1.5.2.2Canada CNG And LPG Vehicle Market by Vehicle Type
9.1.5.3Mexico CNG And LPG Vehicle Market
9.1.5.3.1Mexico CNG And LPG Vehicle Market by Fuel Type
9.1.5.3.2Mexico CNG And LPG Vehicle Market by Vehicle Type
9.2.EUROPE
9.2.1Europe CNG And LPG Vehicle Market Overview
9.2.2Europe CNG And LPG Vehicle Market Forecasts and Analysis
9.2.3Europe CNG And LPG Vehicle Market Forecasts and Analysis - By Fuel Type
9.2.4Europe CNG And LPG Vehicle Market Forecasts and Analysis - By Vehicle Type
9.2.5Europe CNG And LPG Vehicle Market Forecasts and Analysis - By Countries
9.2.5.1Germany CNG And LPG Vehicle Market
9.2.5.1.1Germany CNG And LPG Vehicle Market by Fuel Type
9.2.5.1.2Germany CNG And LPG Vehicle Market by Vehicle Type
9.2.5.2France CNG And LPG Vehicle Market
9.2.5.2.1France CNG And LPG Vehicle Market by Fuel Type
9.2.5.2.2France CNG And LPG Vehicle Market by Vehicle Type
9.2.5.3Italy CNG And LPG Vehicle Market
9.2.5.3.1Italy CNG And LPG Vehicle Market by Fuel Type
9.2.5.3.2Italy CNG And LPG Vehicle Market by Vehicle Type
9.2.5.4United Kingdom CNG And LPG Vehicle Market
9.2.5.4.1United Kingdom CNG And LPG Vehicle Market by Fuel Type
9.2.5.4.2United Kingdom CNG And LPG Vehicle Market by Vehicle Type
9.2.5.5Russia CNG And LPG Vehicle Market
9.2.5.5.1Russia CNG And LPG Vehicle Market by Fuel Type
9.2.5.5.2Russia CNG And LPG Vehicle Market by Vehicle Type
9.2.5.6Rest of Europe CNG And LPG Vehicle Market
9.2.5.6.1Rest of Europe CNG And LPG Vehicle Market by Fuel Type
9.2.5.6.2Rest of Europe CNG And LPG Vehicle Market by Vehicle Type
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific CNG And LPG Vehicle Market Overview
9.3.2Asia-Pacific CNG And LPG Vehicle Market Forecasts and Analysis
9.3.3Asia-Pacific CNG And LPG Vehicle Market Forecasts and Analysis - By Fuel Type
9.3.4Asia-Pacific CNG And LPG Vehicle Market Forecasts and Analysis - By Vehicle Type
9.3.5Asia-Pacific CNG And LPG Vehicle Market Forecasts and Analysis - By Countries
9.3.5.1Australia CNG And LPG Vehicle Market
9.3.5.1.1Australia CNG And LPG Vehicle Market by Fuel Type
9.3.5.1.2Australia CNG And LPG Vehicle Market by Vehicle Type
9.3.5.2China CNG And LPG Vehicle Market
9.3.5.2.1China CNG And LPG Vehicle Market by Fuel Type
9.3.5.2.2China CNG And LPG Vehicle Market by Vehicle Type
9.3.5.3India CNG And LPG Vehicle Market
9.3.5.3.1India CNG And LPG Vehicle Market by Fuel Type
9.3.5.3.2India CNG And LPG Vehicle Market by Vehicle Type
9.3.5.4Japan CNG And LPG Vehicle Market
9.3.5.4.1Japan CNG And LPG Vehicle Market by Fuel Type
9.3.5.4.2Japan CNG And LPG Vehicle Market by Vehicle Type
9.3.5.5South Korea CNG And LPG Vehicle Market
9.3.5.5.1South Korea CNG And LPG Vehicle Market by Fuel Type
9.3.5.5.2South Korea CNG And LPG Vehicle Market by Vehicle Type
9.3.5.6Rest of Asia-Pacific CNG And LPG Vehicle Market
9.3.5.6.1Rest of Asia-Pacific CNG And LPG Vehicle Market by Fuel Type
9.3.5.6.2Rest of Asia-Pacific CNG And LPG Vehicle Market by Vehicle Type
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa CNG And LPG Vehicle Market Overview
9.4.2Middle East and Africa CNG And LPG Vehicle Market Forecasts and Analysis
9.4.3Middle East and Africa CNG And LPG Vehicle Market Forecasts and Analysis - By Fuel Type
9.4.4Middle East and Africa CNG And LPG Vehicle Market Forecasts and Analysis - By Vehicle Type
9.4.5Middle East and Africa CNG And LPG Vehicle Market Forecasts and Analysis - By Countries
9.4.5.1South Africa CNG And LPG Vehicle Market
9.4.5.1.1South Africa CNG And LPG Vehicle Market by Fuel Type
9.4.5.1.2South Africa CNG And LPG Vehicle Market by Vehicle Type
9.4.5.2Saudi Arabia CNG And LPG Vehicle Market
9.4.5.2.1Saudi Arabia CNG And LPG Vehicle Market by Fuel Type
9.4.5.2.2Saudi Arabia CNG And LPG Vehicle Market by Vehicle Type
9.4.5.3U.A.E CNG And LPG Vehicle Market
9.4.5.3.1U.A.E CNG And LPG Vehicle Market by Fuel Type
9.4.5.3.2U.A.E CNG And LPG Vehicle Market by Vehicle Type
9.4.5.4Rest of Middle East and Africa CNG And LPG Vehicle Market
9.4.5.4.1Rest of Middle East and Africa CNG And LPG Vehicle Market by Fuel Type
9.4.5.4.2Rest of Middle East and Africa CNG And LPG Vehicle Market by Vehicle Type
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America CNG And LPG Vehicle Market Overview
9.5.2South and Central America CNG And LPG Vehicle Market Forecasts and Analysis
9.5.3South and Central America CNG And LPG Vehicle Market Forecasts and Analysis - By Fuel Type
9.5.4South and Central America CNG And LPG Vehicle Market Forecasts and Analysis - By Vehicle Type
9.5.5South and Central America CNG And LPG Vehicle Market Forecasts and Analysis - By Countries
9.5.5.1Brazil CNG And LPG Vehicle Market
9.5.5.1.1Brazil CNG And LPG Vehicle Market by Fuel Type
9.5.5.1.2Brazil CNG And LPG Vehicle Market by Vehicle Type
9.5.5.2Argentina CNG And LPG Vehicle Market
9.5.5.2.1Argentina CNG And LPG Vehicle Market by Fuel Type
9.5.5.2.2Argentina CNG And LPG Vehicle Market by Vehicle Type
9.5.5.3Rest of South and Central America CNG And LPG Vehicle Market
9.5.5.3.1Rest of South and Central America CNG And LPG Vehicle Market by Fuel Type
9.5.5.3.2Rest of South and Central America CNG And LPG Vehicle Market by Vehicle Type

10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11.CNG AND LPG VEHICLE MARKET, KEY COMPANY PROFILES
11.1.AC SPOLKA
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.FIAT CHRYSLER AUTOMOBILES NV
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.FORD MOTOR COMPANY
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.HONDA MOTOR COMPANY
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.HYUNDAI MOTOR COMPANY
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.KION GROUP
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.LANDI RENZO S.P.A
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.NIKKI CO.,LTD
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SUZUKI MOTOR CORPORATION
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.VOLKSWAGEN
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments

12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
The List of Companies

1. AC Spolka
2. Fiat Chrysler Automobiles NV
3. Ford Motor Company
4. Honda Motor Company
5. Hyundai Motor Company
6. KION Group
7. Landi Renzo S.P.A
8. Nikki Co.,Ltd
9. Suzuki Motor Corporation
10. Volkswagen

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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