The Global CNG Vehicles Market is expected to exhibit a
strong 5.96% CAGR over the forecast period from 2018 to 2025, according to the
latest research report from Market Research Future (MRFR). The global CNG
vehicles market is expected to reach a valuation of USD 185,422.3 million by
2025, according to the report.
The report presents a detailed overview of the global CNG vehicles market to give
readers an accurate insight into the growth prospects of the market. The major
drivers and restraints affecting the global CNG vehicles market are profiled in
detail in the report. Major players operating in the global CNG vehicles market
are also profiled in detail in the report. The impact of the COVID-19 pandemic
on the global CNG vehicles market is also assessed in the report.
CNG vehicles are vehicles that run on compressed natural gas.
Growing awareness about the various benefits of CNG as compared to petroleum is
the major driver for the global CNG vehicles market. CNG burns cleaner than
petrol or diesel, releasing fewer carbon emissions and other toxic emissions.
This has become a major driver for the global CNG vehicles market over the last
few years. The environmental impact of vehicles has become a major watchword
for automotive industry players, as automotive emissions account for a
considerable part of the global total of environmentally damaging emissions.
Due to this, fuels that burn cleanly and emit less toxic emissions are becoming
popular in automobiles. This is likely to be a major driver for the global CNG
vehicles market over the forecast period.
Top Companies profiled in CNG Vehicles Market Research Report:
Suzuki Motor Corporation, Renault, Honda Motor Co. Ltd.,
Volvo Group, Groupe PSA, Fiat Chrysler Automobiles, Toyota Motor Corporation,
Daimler AG, Hyundai Motor Company, Ford Motor Company, General Motors, and
Volkswagen Group.
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Segmentation:
·
By product
type, the global CNG vehicles market is segmented into OEM and car
modification. Both segments are expected to grow steadily over the forecast
period. Many automotive manufacturers have made it a key point to produce CNG
vehicles in order to cater to the growing demand from consumers. The car
modification segment is also expected to grow over the forecast period due to
the growing number of personal as well as commercial consumers retrofitting
their vehicles with CNG fuel technology. The ease of retrofitting vehicles with
CNG fuel technology has become a major driver for the global CNG vehicles
market.
·
By
application, the global CNG vehicles market is segmented into personal
use and commercial use. The personal use segment holds the largest share in the
global CNG vehicles market and is likely to remain dominant over the forecast
period. Personal consumers are more aware about the benefits of CNG over petrol
and diesel and are thus increasingly opting for CNG vehicles over
gasoline/diesel vehicles. Commercial vehicles are also likely to account for a
significant share in the global CNG vehicles market over the forecast period.
Regional Analysis:
Emerging regions such as Asia Pacific, Latin America, and the
Middle East have exhibited steady growth in the global CNG vehicles market over
the last few years and are likely to remain important regional markets over the
forecast period.
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Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- CNG vehicles Market Segmentation
- CNG vehicles Market Landscape
- Vendor Matrix
- Company Profiles
More…
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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