Report overview
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 autogas vehicles powered by liquefied petroleum gas (LPG), mainly propane, a fuel with a fundamentally different composition.In a natural-gas-powered vehicle, energy is released by the combustion of methane gas (CH4) fuel with oxygen (O2) from the air to form carbon dioxide (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 the source. Existing gasoline-powered vehicles may be converted to run on CNG or LNG and can be dedicated (running only on natural gas) or bi-fuel (running on either gasoline or natural gas). Diesel engines for heavy trucks and buses can also be converted and can be dedicated with the addition of new heads containing spark ignition systems, or can be run on a blend of diesel and natural gas, with the primary fuel being natural gas and a small amount of diesel fuel being used as an ignition source. It is also possible to generate energy in a small gas turbine and couple the gas engine or turbine with a small electric battery to create a hybrid electric motor-driven vehicle.
This report aims to provide a comprehensive presentation of the global market for Compressed Natural Gas and Liquefied Natural Gas Vehicle, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Compressed Natural Gas and Liquefied Natural Gas Vehicle. This report contains market size and forecasts of Compressed Natural Gas and Liquefied Natural Gas Vehicle in global, including the following market information:
Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market Sales, 2018-2023, 2024-2029, (Units)
Global top five Compressed Natural Gas and Liquefied Natural Gas Vehicle companies in 2022 (%)
The global Compressed Natural Gas and Liquefied Natural Gas Vehicle market was valued at US$ 11980 million in 2022 and is projected to reach US$ 21930 million by 2029, at a CAGR of 9.0% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global key players of compressed natural gas and liquefied natural gas vehicle include Maruti Suzuki, Iran Khodro, Volkswagen, Hyundai Motor, Stellantis, etc. Global top five manufacturers hold a share over 42%. India is the largest producer of compressed natural gas and liquefied natural gas vehicle, holds a share over 18%. In terms of product, CNG vehicle is the largest segment, with a share over 73%. And in terms of application, the largest application is passenger vehicle, with a share over 75%, followed by commercial vehicle.
We surveyed the Compressed Natural Gas and Liquefied Natural Gas Vehicle manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (Units)
Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market Segment Percentages, by Type, 2022 (%)
CNG Vehicle
LNG Vehicle
Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (Units)
Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market Segment Percentages, by Application, 2022 (%)
Passenger Vehicle
Commercial Vehicle
Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (Units)
Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Compressed Natural Gas and Liquefied Natural Gas Vehicle revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Compressed Natural Gas and Liquefied Natural Gas Vehicle revenues share in global market, 2022 (%)
Key companies Compressed Natural Gas and Liquefied Natural Gas Vehicle sales in global market, 2018-2023 (Estimated), (Units)
Key companies Compressed Natural Gas and Liquefied Natural Gas Vehicle sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Maruti Suzuki
Iran Khodro
Volkswagen
Hyundai Motor
Stellantis
FAW Group
Chang'an Automobile
General Motors
Honda
Volvo Truck
IVECO
Scania
Outline of Major Chapters:
Chapter 1: Introduces the definition of Compressed Natural Gas and Liquefied Natural Gas Vehicle, market overview.
Chapter 2: Global Compressed Natural Gas and Liquefied Natural Gas Vehicle market size in revenue and volume.
Chapter 3: Detailed analysis of Compressed Natural Gas and Liquefied Natural Gas Vehicle manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Compressed Natural Gas and Liquefied Natural Gas Vehicle in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Compressed Natural Gas and Liquefied Natural Gas Vehicle capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
