Automotive Natural Gas Vehicle Market 2019 Global Size, Share, Competitive Analysis, And Regional Forecast To 2023

Automotive Natural Gas Vehicle Market 2019 Global Size, Share, Competitive Analysis, And Regional Forecast To 2023

“””Automotive Natural Gas Vehicle Market”””
Automotive Natural Gas Vehicle Market 2019 Size and Share Analysis, Key Company share With Global Industry Historic and Forecast growth to 2023 Report, published by leading company “Market Research Future”. Automotive Natural Gas Vehicle Market by Fuel Type (CNG and LNG), Vehicle Type (Light-duty, Medium-duty, and Heavy-duty), and Region – Global Industry Forecast to 2023. Rising Government Initiatives Drive the Global Automotive Natural Gas Vehicle Market.

The key players leading the automotive natural gas vehicle market include AB Volvo (Sweden), Dongfeng Motors Group Limited (China), Beiqi Foton Motors Group Limited (China), Daimler AG (Germany), Shaanxi Automobile Group Limited (China), CNH Industrial NV (The Netherlands), Westport (Canada), and Landi Renzo (Italy) among others.

Get Free Sample “Automotive Natural Gas Vehicle Market 2019 Report” at: https://www.marketresearchfuture.com/sample_request/5750

North America Leads the Global Automotive Natural Gas Vehicle Market; Asserts MRFR Releasing Insights for 2019-2023. Automotive natural gas vehicle refers to automobiles powered by natural gas that offers a viable alternative to traditional petrol or diesel-powered vehicles. The combustion of methane with oxygen and water vapor burns cleanly with lower carbon emissions; hence, the natural gas is considered as green fuel with a lower impact on the environment.

The automotive natural gas vehicle market is accelerating rapidly, witnessing a rise in sales over the past couple of years. Key factors encouraging the growth of the market include the ever-increasing price of crude oil due to its rapidly decreasing availability and growing concerns of environmental impact.

The growing population, worldwide, is impacting market growth positively, increasing the demand in the automotive market. Moreover, the recent reduction of the commodity price of natural gas led by the technological advancement in the natural gas extraction method escalates the market on the global platform.

Acknowledging the growth of this fiercely ascending market, Market Research Future (MRFR) in its recently published study report asserts that the global automotive natural gas vehicle market would garner exponential accruals by 2023, registering a phenomenal CAGR throughout the forecast period (2018-2023).

Additional factors that are substantiating the growth of the market include shifting consumer preferences to automotive natural gas to avoid fuel hikes and the active government support to adopt clean fuel methods. Governments worldwide are going that extra mile to encourage the uptake of natural gas vehicles rather than rending limited support. They are increasingly allotting significant funds and grants to promote innovation and investment to accelerate the uptake of automotive natural gas vehicles.

Although automotive natural gas vehicles are proving to be the best cost-competitive and less pollutant alternative, they are yet far from getting the prominence they deserve due to the shortcomings in operating performance of these vehicles, such as short driving range and extra space needed for fuel storage.

Similarly, though the global automotive natural gas vehicle market is running successfully, it has still not tasted the success as expected. Factors such as the growing popularity and demand for electric vehicles are impeding the market growth of automotive natural gas vehicles.

Nevertheless, mounting pressure to increase aftermarket services is expected to support the market growth over the forecast period, yielding opportunities for the growth. Besides, the expansion of OEM activities to retrofitting activities to accommodate older vehicles will provide tremendous market opportunities, providing consumers to get the desired fuel efficiency.

Global Automotive Natural Gas Vehicle Market Segmentation:

By Fuel Type : CNG and LNG

By Vehicle Type: Light-duty, Medium-duty, and Heavy-duty.

By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.

Global Automotive natural gas vehicle Market Geographical Analysis:

The Asia Pacific region, heading with the presence of the largest number of commercial vehicle and fleet operators, leads the global automotive natural gas vehicle market. China, Iran, Pakistan, and GCC countries count for the key country-level markets, globally.

China accounts for the leading market in the APAC region, demonstrating a substantial growth in the numbers of refuelling infrastructure for CNG and LNG. Moreover, a high level of air pollution in China has resulted in stringent government regulations to promote reduced carbon emissions and has taken up tax waiver initiatives to encourage the adoption of these vehicles. 

Japan heading with its comparable growth pattern of China accounts for the second-largest market in the region. The presence of several key automotive natural gas vehicle manufacturers in the country contributes to Japan’s position in the market. Furthermore, factors such as the increasing environmental awareness have contributed significantly to Japan’s position in the APAC automotive natural gas vehicle market.

India, with the recent launch of City Gas Projects by PM Narendra Modi, presages tremendous growth opportunities for automotive natural gas vehicles. City Gas Distribution (CGD) projects were recently awarded by the Petroleum and Natural Gas Regulatory Board (PNGRB), would cover 65 GAs to bring gas to around half of the country’s population in 26 states and Union Territories.

The automotive natural gas vehicle market in the North American region stands second due to the increase in the adoption rate of the vehicle driven by natural gas.

The automotive natural gas vehicle market in GCC countries is growing due to the growing air pollution concerns. Government is encouraging the adoption of automotive natural gas vehicles to reduce carbon footprints. Moreover, the reduced price of natural gas in GCC countries encourages the uptake of these vehicles, offering an overall reduction in vehicle ownership and travel.

Global Automotive natural gas vehicle Market Competitive Analysis:

The well-established automotive natural gas vehicle market appears competitive and fragmented owing to the presence of several key players having an international presence. The market is likely to witness fierce competition over the forecast period. 

Key players incorporate acquisition, collaboration, partnership, expansion, product launch in order to secure their positions in this market by gaining a competitive advantage. These players focus on product innovations and new manufacturing processes.

Industry/Innovations/Related News:

April 25, 2019 – Maruti Suzuki (India), the country’s largest vehicle manufacturer, announced that it would stop manufacturing diesel vehicles w.e.f. April 1, 2020, the day when the new BS 6 emission regulations are expected to be introduced. The decision is influenced by the high cost of upgrading existing diesel engines to the BS 6 norms.

Now the company will try to focus on manufacturing the vehicles that are driven by the CNG and hybrid technology to compensate the vacuum created by the phasing-out of diesel vehicles. Maruti Suzuki witnesses nearly 23% of its annual sales from diesel cars. The automaker also today announced a hike in prices of some of its models.

The company had declared on February 14, 2019, that Maruti was in talks with its parent company Suzuki Motor Corporation for discontinuation of diesel vehicles from 2020 since the substantially higher cost will not make diesel a viable option for consumers.

The company has taken this decision to be able to meet the Corporate Average Fuel Efficiency regulations and a higher share of CNG vehicles in 2022, which will help it to comply with the standards.

Table Of Contents

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Threat Of Substitutes

3.1.4 Segment Rivalry

3.1.5 Bargaining Power Of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Automotive Natural Gas Vehicle Market, By Fuel Type

5.1 Introduction

5.2 Compressed Natural Gas

5.2.1 Market Estimates & Forecast, 2017-2023

5.2.2 Market Estimates & Forecast By Region, 2017-2023

5.3 Liquefied Natural Gas

5.3.1 Market Estimates & Forecast, 2017-2023

5.3.2 Market Estimates & Forecast By Region, 2017-2023

6 Automotive Natural Gas Vehicle Market, By Vehicle Type

6.1 Introduction

6.2 Light-Duty Vehicle

6.2.1 Market Estimates & Forecast, 2017-2023

6.2.2 Market Estimates & Forecast By Region, 2017-2023

6.3 Medium-Duty Vehicle

6.3.1 Market Estimates & Forecast, 2017-2023

6.3.2 Market Estimates & Forecast By Region, 2017-2023

6.4 Heavy-Duty Vehicle

6.3.1 Market Estimates & Forecast, 2017-2023

6.3.2 Market Estimates & Forecast By Region, 2017-2023

7 Automotive Natural Gas Vehicle Market, By Region

7.1 Introduction

7.2 America

7.2.1 Market Estimates & Forecast, 2017-2023

7.2.2 Market Estimates & Forecast By Fuel Type, 2017-2023

7.2.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

7.2.4 U.S.

7.2.4.1 Market Estimates & Forecast, 2017-2023

7.2.4.2 Market Estimates & Forecast By Fuel Type, 2017-2023

7.2.4.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

7.2.5 Canada

7.2.5.1 Market Estimates & Forecast, 2017-2023

7.2.5.2 Market Estimates & Forecast By Fuel Type, 2017-2023

7.2.5.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.3 Europe

8.3.1 Market Estimates & Forecast, 2017-2023

8.3.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.3.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.3.4 U.K

8.3.4.1 Market Estimates & Forecast, 2017-2023

8.3.4.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.3.4.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.3.5 Germany

8.3.5.1 Market Estimates & Forecast, 2017-2023

8.3.5.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.3.5.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.3.6 France

8.3.6.1 Market Estimates & Forecast, 2017-2023

8.3.6.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.3.6.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.3.7 Italy

8.3.7.1 Market Estimates & Forecast, 2017-2023

8.3.7.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.3.7.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.3.8 Rest Of Europe

8.3.8.1 Market Estimates & Forecast, 2017-2023

8.3.8.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.3.8.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.4 Asia Pacific

8.4.1 Market Estimates & Forecast, 2017-2023

8.4.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.4.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.4.5 China

8.4.5.1 Market Estimates & Forecast, 2017-2023

8.4.5.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.4.5.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2017-2023

8.4.6.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.4.6.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.4.7 India

8.4.7.1 Market Estimates & Forecast, 2017-2023

8.4.7.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.4.7.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.4.8 Rest Of Asia Pacific

8.4.8.1 Market Estimates & Forecast, 2017-2023

8.4.8.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.4.8.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

8.5 Rest Of The World

8.5.1 Market Estimates & Forecast, 2017-2023

8.5.2 Market Estimates & Forecast By Fuel Type, 2017-2023

8.5.3 Market Estimates & Forecast By Vehicle Type, 2017-2023

Continued…

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