2021-2028 Automotive Natural Gas Market Report: Size, Share & Trend Analysis, Competitive Landscape – ResearchAndMarkets.com
DUBLIN – (BUSINESS WIRE)–The “Natural Gas Automotive Vehicle Market Size, Share and Trend Analysis Report by Fuel Type, Vehicle Type, Region and Segment, 2021-2028.” the report was added to ResearchAndMarkets.com from offer.
The global natural gas automotive vehicle market demand is expected to reach 38,856.33 thousand units by 2028. The market is expected to register a CAGR of 3.3% from 2021 to 2028.
The increasing adoption of natural gas as an alternative fuel in vehicles, especially in the transportation sector across the world, is creating a demand for natural gas-fired motor vehicles (NGV). The low emission properties of NGVs, facilitated by the characteristics of clean fuels, are expected to boost their demand in public transport, thus driving the market growth. The need for cleaner fuels at lower cost is also expected to drive the market growth.
In addition, government support for the adoption of these vehicles will increase demand. Government authorities in various countries are implementing strict regulations to reduce environmental damage resulting from the emission of particulate matter (PM) and greenhouse gases (GHG) from vehicles. At the same time, along with these regulations, the authorities also continuously revised policies relating to emission standards to help protect the environment.
Government agencies around the world are rolling out incentive programs to promote CNG adoption due to the high initial cost associated with purchasing CNG and LNG vehicles. Some of the incentive programs to promote the adoption of these vehicles include the US Congestion Mitigation and Air Quality Improvement Program (CMAQ), the Diesel Emissions Reduction Program (DERA) of the United States Environmental Protection Agency (EPA) and the California Energy Commission Clean Transportation Program.
Governments of various countries are undertaking initiatives to develop and expand natural gas distribution infrastructure and invest significantly in improving natural gas technology. The network of CNG and LNG refueling stations is growing in different countries, stimulating the adoption of CNG.
Asia-Pacific held the largest share of the overall market in 2020 due to the increased adoption of natural gas, such as CNG and LNG, in passenger cars, trucks, buses and three-wheelers in countries such as India, China, Thailand, Pakistan and Bangladesh. The region has also become a hub for automobile production in recent years.
Highlights of the Natural Gas Automotive Vehicle Market Report
Strict regulations established by governments of various countries to reduce GHG and PM emissions are expected to positively influence the growth of the market during the forecast period.
Refueling solutions, such as home refueling and full-time refueling, are cost effective, yet convenient for customers.
CNG segment dominated the market in 2020 and is expected to reach a demand of 36,758.09 thousand units by 2028, due to the decrease in noise produced by a CNG engine due to the lower pressure level. acoustic.
Asia-Pacific held the largest market share in 2020. This growth is attributed to increased production and sales of passenger cars in the region.
Main topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends and Scope
Chapter 4 Automotive Natural Gas Market: Fuel Type Estimates and Trend Analysis
4.1 Analysis of Fuel Type Movements and Market Share, 2020 and 2028
4.2 Market volume and forecast and trend analysis, 2016 to 2028 for the following:
Chapter 5 Automotive Natural Gas Market: Vehicle Type Estimates and Trend Analysis
5.1 Analysis of Vehicle Type Movements and Market Share, 2020 and 2028
5.2 Market volume and forecast and trend analysis, 2016 to 2028 for the following:
5.2.1 Passenger vehicles
5.2.2 Light and heavy buses and trucks
Chapter 6 Automotive Natural Gas Market: Regional Estimates and Trend Analysis
6.1 Analysis of regional movements and market share, 2020 and 2028
6.2 Market Volume and Forecast and Trend Analysis, 2016 to 2028
Chapter 7 Competitive Landscape
7.1 Key Company Analysis, 2020
7.2 Company profiles
Agility fuel solutions
Beiqi Foton Motor Co., Ltd.
CNH Industrial NV
Clean energy fuels
Quantum Fuel Systems LLC
Westport Fuel Systems Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/fvasta