Automotive Natural Gas Vehicle Market - Overview

A natural gas vehicle (NGV) is a vehicle that runs on alternative fuels, like compressed natural gas (CNG) and liquefied natural gas (LNG). In natural gas powered vehicle, power is being generated by combustion of methane (CH4) and oxygen (O2) into carbon di oxide (CO2) and water (H2O). Natural gas are generally used in buses, trucks, cars and bikes. The handling cost of natural gas vehicle is higher than that of petrol and diesel because it requires special tank for storage. Due to the increase in prices and depletion of crude oil resources, many countries have started initiating to increase the production and use of natural gases in commercial transportation. Cost of natural gases is lesser than that of petrol and diesel and it is also available abundantly. Natural gas vehicles are good for environment as they emits less carbon di oxide and nitrogen gas. Governments of many countries has taken initiative to educate people about the natural gas vehicles and its benefits.

Automotive Natural Gas Vehicle Market - Drivers and Restraints

In the present scenario the market penetration of the natural gas vehicle is less, because the average price of NGV is higher than that of petrol diesel vehicle. Due to the scarcity of fossil fuel resources in future it is expected that the market penetration of the natural gas vehicles will increase globally. Demand of vehicles is increasing day by day as per capita income of people is increasing, but the petrol and diesel sources are depleting with it, this is also a major reason for continuous increase in prices of petrol and diesel from past 8-10 years. It gives opportunity for the natural gas vehicles. Original equipment manufacturers (OEM’S) are generally promoting their products to increase the demand of the NGV by displaying their high fuel efficiency and ecofriendly behavior

Improper fueling infrastructure, requires high cost for storing these gases and customized storage tanks as they are highly pressurized gases. Global automotive natural gas vehicle market is expected to show significant growth during the forecast period.

Automotive Natural Gas Vehicle Market - Segmentation

Automotive natural gas vehicles market is segmented based upon fuel type, vehicle type and region. According to the fuel type automotive natural gas vehicle market is bifurcated into compressed natural gas (CNG) and liquefied natural gas (LNG). CNG is easier to produce and can be created at individual fueling stations to be easily dispensed to fleet vehicles that can use either modified gasoline or diesel engines or CNG-specific engines. LNG is an excellent way to transport large volumes of natural gas. On the Basis of Vehicle type NGV is bifurcated on Passenger vehicles and commercial vehicles. Passenger vehicles are further divided into Hatchback, sedan and SUV/MUV, passenger vehicles is having major market share in NGV’s as the demand of passenger vehicles are high.

Asia pacific is having stringent rules for carbon emissions, growing automobile production. Demand for natural gas is very significant for commercial vehicle segment in Asia pacific. India and china are among the top 10 countries in automobile production. These countries are also having very good fuel infrastructure, the number has also increased in NGV’S in Asia pacific by from 2016-2018. Europe is having high demand for natural gas that arises from trucks and bus segments. The government policies, subsidies, increasing petrol and diesel prices, stringent pollution rules are the boost in demand for automotive natural gas vehicle in Europe. North America has seen a decent growth in the numbers for NGV’S. U.S.A is among the top 5 automobile production counties in the world it has the most share in North American region for the sales of NGV’S.

Automotive Natural Gas Vehicle Market - Key Players

Key players for automotive natural gas vehicle market are Ford motors, Peugeot, Volvo, BMW, Proton, Opel, Mercedes, Volkswagen and general motors etc. Volvo FH LNG runs on liquefied natural gas – LNG. As a result it emits 20% less CO2 than a regular Volvo FH. It can reduce carbon di oxide (CO2) emission by 100%.Mercedes b 200 natural gas drive has ability of emitting 16% er CO2 than that of petrol and diesel version, and fuel costs which are some 50 percent below those of a comparable petrol-powered car.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Automotive Natural Gas Vehicle Market

Pre Book