Global Automotive Natural Gas Vehicle Market (NGV) was estimated at 25,000.00 thousand units in 2017 and is expected to reach 78,985.00 thousand units by 2026 at a CAGR of about 15.47% during a forecast.
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Global Automotive Natural Gas Vehicle Market (NGV) Market is segmented into by fuel type, by Vehicle Type, and by region. Based on fuel type, Automotive Natural Gas Vehicle (NGV) Market is classified into CNG & LNG. In-Vehicle Type are divided into Passenger vehicles, Three-wheelers, Light-duty & heavy-duty buses, and trucks. Geographically into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Global Industry Analysis and forecast 2018-2026.
Driving factors for the automotive natural gas vehicle (NGV) market are the demand for vehicles are increasing day by day with the rising income level as well, rise in air pollution, continuous increase in prices of petrol and diesel, Technological advancements and government support for better automobile sector, changing climate and demanding clean cities will boost the demand for automotive natural gas vehicle market.
Limited availability of CNG station and CNG tanks storage space can hamper the growth of Automotive Natural Gas Vehicle (NGV) Market.
In terms of Fuel Type, liquefied natural gas (LNG) segment shares the largest market during the forecast period. Increasing in passengerâ€™s car production, LNG is liquid and its filling feed is fast, which can decrease the construction of LNG station compared with the gaseous CNG, LNG vehicles lies in its good cold-start performance, strong endurance ability and less carbon deposition in the cylinder will create more opportunity in this segment.
In terms of Vehicle Type, Passenger vehicles segment is expected to grow faster during the forecast period. Rise in a production of a vehicle across the globe are demanding more fuel-efficient vehicle, government playing as supporter role for vehicle manufacturer, rise in population and trending natural gas uses will boost the market in an automotive natural gas vehicle (NGV).
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Among region, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Emerging economics and stringent government policies concerning the environment. The increasing popularity of smart cities and increasing investment in the growth of the natural gas industry will create more opportunity in Automotive Natural Gas Vehicle (NGV) Market.
AB Volvo, LNG Express, Cummins, Inc., Beiqi Foton Motor Co., Ltd., Navistar, Inc., PACCAR, Inc., Westport Fuel Systems Inc., Gazprom, Kitsault Energy, Rosneft, Steelhead LNG. Woodfibre LNG, Woodside, Sempra Energy, Novatek, Dominion Cove Point Energy, ExxonMobil, Freeport Liquefaction LLC, Chevron, BG (Shell).
The scope of the Report Global Automotive Natural Gas Vehicle Market (NGV) :
Global Automotive Natural Gas Vehicle Market (NGV), by Fuel Type
Compressed Natural Gas (CNG)
Liquefied Natural Gas (LNG)
Global Automotive Natural Gas Vehicle Market (NGV), by Vehicle
Light-duty & heavy-duty vehicles
Global Automotive Natural Gas Vehicle Market (NGV), by Region
Middle East & Africa
Key Player analysed in the Global Automotive Natural Gas Vehicle Market (NGV) Report
Beiqi Foton Motor Co., Ltd.
Westport Fuel Systems Inc.
Dominion Cove Point Energy
Freeport Liquefaction LLC