Automotive Natural Gas Vehicle Market Research Report - Forecast to 2027

Automotive Natural Gas Vehicle Market Information by Fuel Type (CNG and LNG), Vehicle Type (Light-duty, Medium-duty, and Heavy-duty), and Region – Global Forecast to 2027

ID: MRFR/AM/4295-HCR | February, 2021 | Region : Global

Automotive Natural Gas Vehicle Market Scenario


Automotive natural gas vehicle market is projected to grow at approximately 6% CAGR by 2027.


The automotive natural gas vehicle market is a highly growing Market emerging day by day at a rapid pace. The growing quantity of natural gas is the alternative to fuel that most people use. If we talk about the transportation sector worldwide, then the automotive natural gas vehicle creates its demand day by day. There are so many features and functionalities of these vehicles that make this vehicle more popular. The characteristics like low emission properties are the major reason that drives the Market Trends. It boosts the market growth because of the increased need for cleaner fuels. 


Besides that, there is a lot of government support that drives people crazy to use this vehicle. The government rules and regulations also drive the Market and create a huge demand. The government authorities of various countries are implementing stringent regulations. They have created these regulations for the environmental damages that arise due to the emission of greenhouse gases and particulate matter. Besides these regulations, the authority continuously revises the standard policies that help protect the environment and improve the Automotive Natural Gas Vehicle Market Size.  


Government agencies also published many incentive programs that help people to promote the adoption of NGVs. These are comparatively low costs as compared to the LNG and CNG vehicles. There are so many incentive programs that happen for the promotion of these vehicles, and those are U.S. Environmental Protection Agency's (EPA), U.S. Congestion Mitigation and Air Quality Improvement Program (CMAQ), and Education Act Program (DERA). As per the market report, the Automotive Natural Gas Vehicle Market Size has an approximate and expected growth of 6% CAGR by 2027. Considering the above reasons, it is expected to drive the Market Share growth in the upcoming years with the same amount.


COVID19 Analysis


The coronavirus pandemic devastated the entire economy that causes a severe health crisis across the globe. Because of this virus, the world's economy has been changed, and people have gone through so many problems. 


Now people are more concerned about their health and trying to recover from lots of things they face daily. Pollution is a big problem, mostly in urban cities, and that's why the government takes so many necessary steps to recover from this issue. 


Because of these things, the demand and value of the automated natural gas vehicle market are growing. This Automotive Natural Gas Vehicle Market Size will rise shortly due to its functionalities. The Market is also facing so many imperative benefits because of the key market players who help the Market by adding so many ideas to build the market value. 


Key Players of the Market:




  • The key players of the Market are:




  • Dongfeng Motors Group Limited (China)




  • A.B. Volvo (Sweden)




  •  BeiqiFoton Motors Group Limited (China)




  •  Shaanxi Automobile Group Limited (China)




  •  Daimler AG (Germany)




  • CNH Industrial NV (The Netherlands)




  • Landi Renzo (Italy)




  •  Westport (Canada).




Recent Developments




  • There is a 5.5% CAGR increase in CNG vehicle sales in the past five years per the Maruti Suzuki India Limited. This CNG technology for passenger vehicles achieved the highest ever sales.




  • The international energy agency recently released its report 2020 global energy review, where they shared the market's current scenario regarding its values. 




Market Dynamics 




  • Major Drivers of the Market




There are so many factors that drive the automotive natural gas vehicle market. In the united state, more than 175,000 vehicles run through this, and in the near future, this number will increase. There are 23 million vehicles worldwide, which is a huge number. Automotive Natural Gas Vehicle Global Market Trends are a good choice for people looking for high mileage and centrally fueled. Vehicles that travel long distance suits the LNG because it offers greater density than CNG. The advantage of natural gas in the transportation industry is essential that includes domestic availability, widespread distribution infrastructure. It also helps for reducing greenhouse emissions. 


There are so many drivers of the Automotive Natural Gas Vehicle Industry responsible for the growth, including low-cost fuel, reduction in greenhouse emission, and production of less co2 per energy consumed. Other key drivers that are expected to contribute to the Market are the growth of automotive natural gas. The Automotive Natural Gas Vehicle Market Share is growing faster and faster because of the growth in refueling station infrastructure and rising crude oil price. In addition to that, people also grab this due to the desired fuel efficiency. 




  • Significant Opportunities for the Market




Because of the global demand, the Automotive Natural Gas Vehicle Industry is growing on-demand. The Market is looking to hire more key players and investors ready to improve the market condition. As per the current market condition, the demand of manufacturers, investors, and key players is high as there is an increase in the number of customers. The Global Market Share is growing to reduce pollutants and elevate the Market's demand. The recent developments in the industry will also enhance the market potential in the forecast years.




  • Market Restraints




Although the automotive natural gas vehicle market possesses many opportunities, certain limitations can also hinder market growth. The major reasons that create barriers in the path of growth of the Automotive Natural Gas Vehicle Industry are the high cost of storing these gases and customized storage tanks. Besides these, the bad economy and Improper fuelling will pose a major challenge to the market growth. But thanks to the constant demand in the transportation sector, that will push the market to grow.




  • Market Growth Challenges




Many factors will fuel the Market Trends potential in the upcoming years. Certain challenges like a bad economy and lack of knowledge create hindrances in the Market. Sometimes cost also creates a barrier, but with the help of key players and investors in the certain region, the Market is growing better and restrict the challenges.




  • Cumulative Growth Analysis




According to the global Market Growth, the value of the market will increase in the surge to many optimum levels. By 2027- 2028 the Market will surpass. It’s previous historical growth and reach a step closer to fulfill its potential.


Segment Overview


The automotive natural gas vehicle market is divided based on fuel type, vehicle type, and region. 




  • By fuel type: 




In this segment, the market is divided into two types CNG and LPG. Among both of them, the CNG is widely used and covers a huge market share.




  • By vehicle type:




In this segment, the market is divided into light-duty, medium-duty, and heavy-duty vehicles. Among all of them, the heavy-duty vehicle holds the greatest demand that covers transit buses, road tractors, and trucks. The light-duty and medium-duty vehicles have the Liquefied Petroleum Gas (LPG) fuel options.




  • By region type:




The Global Market Growth is segmented based on America, Asia Pacific, Europe, and the Rest of the World.


Among all of these regions, the Asia Pacific region holds the largest market share and is expected to dominate the Market in the future. The Asia Pacific region holds the largest market share for commercial vehicle and fleet operators. That china holds the second position. For instance, China is showing growth in the growth of Cng products. This region holds the increased adoption rate of natural gas-driven vehicles. By showing the above growth factors and driving zones, the Market is estimated to grow at approximately 6% CAGR from 2017 to 2023.


Report Overview




  • Market overview highlights 




  • Analysis based upon COVID 19




  • Explanation upon the Market Dynamics




  • Value chain analysis 




  • Market segmentation overview




  • The regional analysis of Global Market Growth




  • Competitive landscape analysis




  • Recent Developments 




The global automotive Natural vehicle market report offers the overall details of the recent development in the market, import and export analysis. It is also the driving factors and the import-export analysis with production analysis and covers the value chain analysis and future growth opportunities. By considering the overall market value, it is expected that the Market will gain the expected revenue in the upcoming years. The changes in market regulations, strategic market growth analysis and market size, and product approval are also included in this report. This report is created with the help of key players and key analysis, which analyzes the overall market over the years.

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, 2020-2027

5.2.2 Market Estimates & Forecast by Region, 2020-2027

5.3 Liquefied Natural Gas

5.3.1 Market Estimates & Forecast, 2020-2027

5.3.2 Market Estimates & Forecast by Region, 2020-2027

6 Automotive Natural Gas Vehicle Market, By Vehicle Type

6.1 Introduction

6.2 Light-duty Vehicle

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast by Region, 2020-2027

6.3 Medium-duty Vehicle

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

6.4 Heavy-duty Vehicle

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast by Region, 2020-2027

7 Automotive Natural Gas Vehicle Market, By Region

7.1 Introduction

7.2 America

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Fuel Type, 2020-2027

7.2.3 Market Estimates & Forecast by Vehicle Type, 2020-2027

7.2.4 U.S.

7.2.4.1 Market Estimates & Forecast, 2020-2027

7.2.4.2 Market Estimates & Forecast by Fuel Type, 2020-2027

7.2.4.3 Market Estimates & Forecast by Vehicle type, 2020-2027

7.2.5 Canada

7.2.5.1 Market Estimates & Forecast, 2020-2027

7.2.5.2 Market Estimates & Forecast by Fuel Type, 2020-2027

7.2.5.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.3 Europe

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.3.3 Market Estimates & Forecast by Vehicle Type, 2020-2027

8.3.4 U.K

8.3.4.1 Market Estimates & Forecast, 2020-2027

8.3.4.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.3.4.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.3.5 Germany

8.3.5.1 Market Estimates & Forecast, 2020-2027

8.3.5.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.3.5.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.3.6 France

8.3.6.1 Market Estimates & Forecast, 2020-2027

8.3.6.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.3.6.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.3.7 Italy

8.3.7.1 Market Estimates & Forecast, 2020-2027

8.3.7.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.3.7.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.3.8 Rest of Europe

8.3.8.1 Market Estimates & Forecast, 2020-2027

8.3.8.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.3.8.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.4 Asia Pacific

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.4.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.4.5 China

8.4.5.1 Market Estimates & Forecast, 2020-2027

8.4.5.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.4.5.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2020-2027

8.4.6.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.4.6.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.4.7 India

8.4.7.1 Market Estimates & Forecast, 2020-2027

8.4.7.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.4.7.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.4.8 Rest of Asia Pacific

8.4.8.1 Market Estimates & Forecast, 2020-2027

8.4.8.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.4.8.3 Market Estimates & Forecast by Vehicle type, 2020-2027

8.5 Rest of the World

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast by Fuel Type, 2020-2027

8.5.3 Market Estimates & Forecast by Vehicle type, 2020-2027

9 Competitive Landscape

10 Company Profile

10.1 Dongfeng Motors Group Ltd (China)

10.1.1 Company Overview

10.1.2 Products/Product Offering

10.1.3 Financial Overview

10.1.4 Key Developments

10.1.5 Strategy

10.1.6 SWOT Analysis

10.2 AB Volvo (Sweden)

10.2.1 Company Overview

10.2.2 Products/Product Offering

10.2.3 Financial Overview

10.2.4 Key Developments

10.2.5 Strategy

10.2.6 SWOT Analysis

10.3 Beiqi Foton Motors Group Ltd (China)

10.3.1 Company Overview

10.3.2 Products/Product Offering

10.3.3 Financial Overview

10.3.4 Key Developments

10.3.5 Strategy

10.3.6 SWOT Analysis

10.4 Shaanxi Automobile Group Ltd (China)

10.4.1 Company Overview

10.4.2 Products/Product Offering

10.4.3 Financial Overview

10.4.4 Key Developments

10.4.5 Strategy

10.4.6 SWOT Analysis

10.5 Daimler AG (Germany)

10.5.1 Company Overview

10.5.2 Products/Product Offering

10.5.3 Financial Overview

10.5.4 Key Developments

10.5.5 Strategy

10.5.6 SWOT Analysis

10.6 CNH Industrial NV (The Netherlands)

10.6.1 Company Overview

10.6.2 Products/Product Offering

10.6.3 Financial Overview

10.6.4 Key Developments

10.6.5 Strategy

10.6.6 SWOT Analysis

10.7 Landi Renzo (Italy)

10.7.1 Company Overview

10.7.2 Products/Product Offering

10.7.3 Financial Overview

10.7.4 Key Developments

10.7.5 Strategy

10.7.6 SWOT Analysis

10.8 Westport (Canada)

10.8.1 Company Overview

10.8.2 Products/Product Offering

10.8.3 Financial Overview

10.8.4 Key Developments

10.8.5 Strategy

10.8.6 SWOT Analysis



List of Tables

Table 1 Automotive Natural Gas Vehicle Market: By Region, 2020-2027

Table 2 North America Automotive Natural gas vehicle Market: By Country, 2020-2027

Table 3 Europe Automotive Natural gas vehicle Market: By Country, 2020-2027

Table 4 Asia Pacific Automotive Natural gas vehicle Market: By Country, 2020-2027

Table 5 RoW Automotive Natural gas vehicle Market: By Country, 2020-2027

Table 6 Automotive Natural Gas Vehicle Market, By Fuel Type, By Regions, 2020-2027

Table 7 North America Automotive Natural gas vehicle Market, By Fuel Type, By Country, 2020-2027

Table 8 Europe Automotive Natural gas vehicle Market, By Fuel Type, By Country, 2020-2027

Table 9 Asia Pacific Automotive Natural gas vehicle Market by Fuel Type, By Country, 2020-2027

Table 10 RoW Automotive Natural gas vehicle Market by Fuel Type, By Country, 2020-2027

Table 11 Automotive Natural Gas Vehicle Market: By Region, 2020-2027

Table 12 Automotive Natural Gas Vehicle Market: By Fuel Type, 2020-2027

Table 13 Automotive Natural Gas Vehicle Market: By Vehicle type, 2020-2027

Table 14 North America Automotive Natural gas vehicle Market, By Country

Table 15 North America Automotive Natural gas vehicle Market, By Fuel Type

Table 16 Europe: Automotive Natural gas vehicle Market, By Country

Table 17 Europe: Automotive Natural gas vehicle Market, By Fuel Type

Table 18 Europe: Automotive Natural gas vehicle Market, By Vehicle type

Table 19 Asia Pacific: Automotive Natural gas vehicle Market, By Country

Table 20 Asia Pacific: Automotive Natural gas vehicle Market, By Fuel Type

Table 21 Asia Pacific: Automotive Natural gas vehicle Market, By Vehicle type

Table 22 RoW: Automotive Natural gas vehicle Market, By Region

Table 23 RoW: Automotive Natural gas vehicle Market, By Fuel Type

Table 24 RoW: Automotive Natural gas vehicle Market, By Vehicle type


List of Figures

FIGURE 1 Research Process of MRFR

FIGURE 2 Top down & Bottom up Approach

FIGURE 3 Market Dynamics

FIGURE 4 impact analysis: market drivers

FIGURE 5 impact analysis: market restraints

FIGURE 6 porter’s five forces analysis

FIGURE 7 Value chain analysis

FIGURE 8 Automotive Natural Gas Vehicle Market SHARE, By Fuel Type, 2020 (%)

FIGURE 9 Automotive Natural Gas Vehicle Market, By Fuel Type, 2020-2027 (USD MILLION)

FIGURE 10 Automotive Natural Gas Vehicle Market SHARE, By Vehicle type, 2020 (%)

FIGURE 11 Automotive Natural Gas Vehicle Market, By Vehicle type, 2020-2027 (USD MILLION)

FIGURE 12 Automotive Natural Gas Vehicle Market SHARE (%), BY REGION, 2020

FIGURE 13 Automotive Natural Gas Vehicle Market, BY REGION, 2020-2027 (USD MILLION)

FIGURE 14 North America Automotive Natural Gas vehicle Market SHARE (%), 2020

FIGURE 15 North America Automotive Natural Gas vehicle Market BY Country, 2020-2027 (USD MILLION)

FIGURE 16 Europe Automotive Natural Gas vehicle Market SHARE (%), 2020

FIGURE 17 Europe Automotive Natural Gas vehicle Market BY Country, 2020-2027 (USD MILLION)

FIGURE 18 Asia Pacific Automotive Natural Gas vehicle Market SHARE (%), 2020

FIGURE 19 Asia Pacific Automotive Natural Gas vehicle Market BY Country, 2020-2027 (USD MILLION)

FIGURE 20 Rest of the World Automotive Natural Gas vehicle Market SHARE (%), 2020

FIGURE 21 Rest of the World Automotive Natural Gas vehicle Market BY Country, 2020-2027 (USD MILLION)

Automotive Natural Gas Vehicle Market