The Worldwide CNG & LPG Vehicle Industry is Expected to Grow at a CAGR of 15.5% Between 2021 and 2026
DUBLIN, March 16, 2021 /PRNewswire/ -- The "CNG & LPG Vehicle Market by Vehicle Body Type (Passenger Cars, Three-wheelers & Commercial Vehicles) Fuel Type (CNG & LPG), By Kit type (Venturi & Sequential), By Fitting (OE & Aftermarket), by Engine System Type and by Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global electric vehicle charging station market size is projected to reach 4,389 thousand units sales by 2026, from an estimated 2,135 thousand units in 2021, at a CAGR of 15.5%.
Governments are supporting CNG and LPG vehicles through subsidies & tax rebates for using low emission vehicles and working in collaboration with such OEM's to speed up growth of their countries.
Increased demand for efficient and low emission vehicles along with government support will boost the CNG and LPG vehicle market. Consumers from developing countries are already feeling the heat of the increasing cost of petrol. CNG and LPG vehicles use can reduce the operating cost of these vehicles. To make the CNG and LPG vehicle market grow, a continued support from the government will be needed along with the growing numbers of bi-fuel and dual fuel vehicle users and reduced initial cost of adding CNG and LPG options for the vehicles.
However, COVID-19 pandemic is expected to have a significant impact on the CNG and LPG vehicle market. Both the production and sales of CNG and LPG vehicles had come to a halt in Q1 and Q2 of 2020 across the globe as the whole ecosystem had been disrupted. However, in the next two quarters, the sale of CNG and LPG vehicles had been growing. OEMs had to wait until lockdowns were lifted to resume production, which affected their business. Post the pandemic, the demand for CNG and LPG vehicles might increase, as people are getting increasingly conscious of reducing emissions from vehicles around the world.
The Passenger vehicle Segment is expected to be the largest market in the vehicle body segment in the forecast.
Passenger cars are motor vehicles primarily used to transport passengers and have up to 9 seating capacity, including the driver. Some major types of passenger vehicles include sedan, hatchback, MPV/minivan, SUV/4X4, CUV/crossover, pickup, coupe, convertible, and station wagon. Many OEMs have been developing CNG and LPG fuel passenger cars over the years. Major manufacturers in this segment include Suzuki Motor Corporation, Honda Motor Company, Hyundai Group, Volkswagen AG, and Ford Motor Company. Governments around the world have been encouraging the use of CNG and LPG as low emission vehicles for passenger vehicles.
Heavy-duty segment is expected to be the fastest growing in the vehicle type segment during the forecast period.
The sales of heavy-duty CNG and LPG vehicles are projected to significantly increase during the forecast period due to the trend of commercial vehicles worldwide moving towards the usage of low emission fuels. This projected increase is also attributed to many countries around the world adopting new regulations to lower emissions on a large scale. These countries have encouraged the growth of CNG and LPG fuels especially in the heavy duty vehicles segment where electric vehicles are less of a competition to CNG and LPG vehicles market.
Sequential Kit segment is expected to be the fastest growing in the Kit segment in the forecast period.
The sequential kit is a much better option for vehicles. In this type of kit, the alternative fuel flow is controlled by injectors and directly sent into the intake manifold of the petrol injectors. Gas flow is monitored and fixed electronically by a separate ECU. Sequential engines, however, can only be installed on vehicles that have electronic fuel injection systems. Sequential injection systems offer better mileage and higher performance than venture kits. However, sequential kits perform best with high compression engines only.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in CNG and LPG Vehicle Market
4.2 CNG and LPG Vehicle Market, by Region
4.3 CNG and LPG Vehicle Market, by Fuel Type
4.4 CNG and LPG Vehicle Market, by Vehicle Body Type
4.5 CNG and LPG Vehicle Market, by Vehicle Type
4.6 CNG and LPG Vehicle Market, by Fitting Type
4.7 CNG and LPG Vehicle Market, by Kit Type
4.8 CNG and LPG Vehicle Market, by Engine System Type
4.9 CNG and LPG Vehicle Market, by Intake System Type
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Significant Increase in Vehicle Production and Sales Globally
5.2.1.2 Lower Operational Cost Compared to Petroleum Vehicles
5.2.1.3 Rising Petrol Prices in the International Market
5.2.2 Restraints
5.2.2.1 Higher Maintenance and Initial Vehicle Costs Compared to Petroleum Vehicles
5.2.2.2 Less CNG and LPG Fuel Availability in Many Regions
5.2.3 Opportunities
5.2.3.1 Rising Concerns Worldwide About Vehicle Emissions
5.2.3.2 Availability of Dual Fuel Options in Vehicles
5.2.4 Challenges
5.2.4.1 Improper Drainage Causing Cylinder Damage
5.2.4.2 Improper Protection of Exhaust and Other Heat-Producing Components
5.3 Porter's Five Forces
5.3.1 Threat of Substitutes
5.3.2 Threat of New Entrants
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Rivalry Among Existing Competitors
5.4 CNG and LPG Vehicle Market Ecosystem
5.5 Supply Chain Analysis
5.5.1 CNG and LPG Providers
5.5.2 Tier I Suppliers
5.5.3 OEMs
5.5.4 End-users
5.6 Average Selling Price Trend
5.7 Technology Analysis
5.7.1 Bi-Fuel Vehicles
5.7.2 IoT in Alternative Fuel Vehicles
5.7.3 3D Printing Technology
5.7.4 Connected Vehicles
5.8 Patent Analysis
5.9 Case Study
5.9.1 a Case Study on Using Natural Gas for Regional Transport Trucks
5.10 Regulatory Overview
5.11 COVID-19 Impact Analysis
5.11.1 Introduction to COVID-19
5.11.2 COVID-19 Health Assessment
5.12 COVID-19 Economic Assessment
5.12.1 COVID-19 Economic Impact - Scenario Assessment
5.12.2 COVID-19 Impact on Automotive Industry
5.12.3 Oem Announcements
5.12.4 Impact on Automotive Production
5.13 CNG and LPG Vehicle Market, Scenarios (2020-2025)
6 CNG and LPG Vehicle Market, by Engine/System Type
6.1 Introduction
6.2 Operational Data
6.2.1 Assumptions
6.3 Research Methodology
6.4 Dedicated Fuel
6.4.1 Government Incentives to Drive Adoption of Dedicated Fuel System Vehicles
6.5 Bi-Fuel
6.5.1 Easy Fuel Switching to Encourage Bi-Fuel System Vehicles Growth
6.6 Dual Fuel
6.6.1 Favorable Government Policies to Increase Growth of Dual Fuel Vehicle Segment
6.7 Key Primary Insights
7 CNG and LPG Vehicle Market, by Fitting Type
7.1 Introduction
7.2 Operational Data
7.2.1 Assumptions
7.3 Research Methodology
7.4 Oem-Fitted/Factory-Fitted
7.4.1 Oem/Factory-Fitted Vehicles to Grow Faster due to Growing Demand of Green Vehicles
7.5 Aftermarket
7.5.1 Government Regulations to Benefit Aftermarket Conversions ACross Various Countries
7.6 Key Primary Insights
8 CNG and LPG Vehicle Market, by Fuel Type
8.1 Introduction
8.2 Operational Data
8.2.1 Assumptions
8.3 Research Methodology
8.4 CNG
8.4.1 Low Cost of Operations to Drive CNG Vehicle Market
8.5 LPG
8.5.1 Europe and North America to Encourage Autogas Adoption
8.6 Key Primary Insights
9 CNG and LPG Vehicle Market, by Intake System Type (LPG Vehicles)
9.1 Introduction
9.2 Operational Data
9.2.1 Assumptions
9.3 Research Methodology
9.4 Converter-Mixer System
9.4.1 Low Cost of Conversion to Boost Market
9.5 Vapor Phase Injection (Vpi) System
9.5.1 Europe to be Largest Market for Vapor Phase Injection (Vpi) System
9.6 Liquid Phase Injection (Lpi) System
9.6.1 Higher Fuel Efficiency and Better Emission Control to Increase Market
9.7 Liquid Phase Direct Injection (Lpdi) System
9.7.1 Lowest Operational Cost to Increase Market
9.8 Key Primary Insights
10 CNG and LPG Vehicle Market, by Kit Type
10.1 Introduction
10.2 Operational Data
10.2.1 Assumptions
10.3 Research Methodology
10.4 Venturi
10.4.1 Low Cost of Conversions and Lower Operating Cost to Drive CNG and LPG Kit Market
10.5 Sequential
10.5.1 Higher Fuel Economy to Increase Demand for Sequential Kits
10.6 Key Primary Insights
11 CNG and LPG Vehicle Market, by Vehicle Body Type
11.1 Introduction
11.2 Operational Data
11.2.1 Assumptions
11.3 Research Methodology
11.4 Passenger Car
11.4.1 Growing Demand for Low Emission and Low Operational Cost Fuels
11.5 Commercial Vehicle
11.5.1 Europe and North America to Encourage CNG and LPG for Commercial Vehicles
11.6 Three-Wheeler
11.6.1 Asia Oceania is the Largest CNG and LPG Three-Wheeler Market
11.7 Key Primary Insights
12 CNG and LPG Vehicle Market, by Vehicle Type
12.1 Introduction
12.2 Operational Data
12.2.1 Assumptions
12.3 Research Methodology
12.4 Light-Duty Vehicle
12.4.1 Growing Demand for Low Emission Passenger Vehicles to Boost this Segment
12.5 Heavy-Duty Vehicle
12.5.1 European and North American Governments to Encourage CNG and LPG for Heavy-Duty Vehicles
12.6 Key Primary Insights
13 CNG and LPG Vehicle Market, by Region
13.1 Introduction
13.2 Asia Oceania
13.3 Europe
13.4 North America
13.5 Rest of the World
14 Competitive Landscape
14.1 Market Evaluation Framework
14.2 Overview
14.3 Market Share Analysis for CNG and LPG Vehicle Market
14.4 Market Evaluation Framework: Revenue Analysis of Top Listed/Public Players
14.5 Market Ranking Analysis for CNG and LPG Vehicle Market
14.6 Competitive Scenario
14.6.1 New Product Launches
14.6.2 Deals
14.6.3 Expansions, 2017-2020
14.7 Competitive Leadership Mapping for CNG and LPG Vehicle Market
14.7.1 Stars
14.7.2 Emerging Leaders
14.7.3 Pervasive
14.7.4 Participants
14.8 Winners Vs. Tail-Enders
15 Company Profiles
15.1 Key Players
15.1.1 Ford Motor Company
15.1.2 Suzuki Motor Corporation
15.1.3 Honda Motor Company
15.1.4 Hyundai Motor Group
15.1.5 Volkswagen Ag
15.1.6 Fiat Chrysler Automobiles
15.1.7 General Motors
15.1.8 Landi Renzo S.P.A.
15.1.9 Tomasetto AChille
15.1.10 Westport Fuel Systems
15.1.11 Toyota Motor Corporation
15.1.12 Tata Motors Limited
15.2 Other Players
15.2.1 Great Wall Motors
15.2.2 Guangzhou Automobile Industry Group
15.2.3 Saic Motor Corporation
15.2.4 Faw Group
15.2.5 Baic Group
15.2.6 Dongfeng Motor Group
15.2.7 Mahindra & Mahindra
15.2.8 Eicher Motors
15.2.9 Bajaj Group
15.2.10 Mazda Motor Corporation
15.2.11 Mitsubishi Motors
15.2.12 Nissan Motor Company
15.2.13 Subaru Corporation
15.2.14 Dongxu
15.2.15 Nikki Co., Ltd.
15.2.16 Daimler Ag
15.2.17 Renault
15.2.18 AB Volvo
15.2.19 Psa Group
15.2.20 Cnh Industrial Nv
15.2.21 AC Spolka
15.2.22 Kion Group
15.2.23 Atiker Group
15.2.24 Deere and Company
15.2.25 Paccar
15.2.26 Agility Fuel Solutions
15.2.27 Cummins
15.2.28 Quantum Fuel Systems
15.2.29 Agrale
15.2.30 Macropolo Sa
15.2.31 Iran Khodro
15.2.32 Saipa
15.2.33 IGT Motors
16 Analyst's Recommendations
17 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/7nrjxg
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