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(Transportation-News.com, September 11, 2018 ) This report covers the present scenario (with the base year being 2017) and the growth prospects of global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market for 2018-2023.
Compressed natural gas vehicle is an alternative fuel vehicle that uses compressed natural gas as the fuel rather than gasoline or diesel. CNG, or compressed natural gas, is stored at high pressure, 3,000 to 3,600 pounds per square inch (21 to 25 MPa). The required tank is more massive and costly than a conventional fuel tank. The CNG vehicle’s emissions are cleaner, with lower emissions of carbon and lower particulate emissions per equivalent distance traveled. There is generally less wasted fuel.
In the next five years, the Global consumption of CNG and LPG Vehicles will maintain about 10.85% annual growth rate.
The global average price of CNG and LPG vehicles is in the decreasing trend, from14.4 K USD/Unit in 2013 to 12.8 K USD/Unit g in 2018. With the situation of global economy and more company enter this industry; prices will be decreasing trend in the following five years.
MENA is a large consumption place, with a consumption market share nearly 27.85%. Following south Asia, China is another important consumption place with the consumption market share of 15.03% in 2017.
In 2017, there are two key reasons causing the huge decline of CNG Vehicles’ sales in China. One is China has introduced a new policy to limit motor vehicle "oil to gas", another is the decline in gasoline price.
Market competition is intense. Fiat Chrysler, Volkswagen, Ford, General Motors, etc. are the leaders of the industry, and they hold high-end customers, and their products are famous in the world.
Industry concentration is deepening. China domestic CNG vehicles enterprises are increasing investment and absorbing foreign advanced technologies so that large companies will gain more market share.
Over the next five years, this report projects that Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles will register a 9.7% CAGR in terms of revenue, reach US$ 6530 million by 2023, from US$ 3740 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market by product type, application, key manufacturers and key regions.
To calculate the market size, this report considers value and volume generated from the sales of the following segments:
Segmentation by product type:
Passenger Vehicle
Commercial Vehicle
Segmentation by application:
Home Use
Commercial Use
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
Fiat Chrysler
Volkswagen
Ford
General Motors
Toyota
Iran Khodro
Nissan
Volvo Group
Hyundai
Honda
Suzuki
Mercedes-Benz
Renault
PSA
Great Wall Motors
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
To study and analyze the global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
To understand the structure of Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles market by identifying its various subsegments.
Focuses on the key global Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Compressed Natural Gas (CNG) and Liquified Petroleum Gas (LPG) Vehicles submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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