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Natural Gas Vehicle Trends and Forecast
The future of the global natural gas vehicle market looks promising with opportunities in the passenger car, light-duty vehicle, heavy-duty vehicle, bus, and off-highway vehicle applications. The global natural gas vehicle market is expected to reach an estimated $26.2 billion by 2030 with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are growing interest towards eco-friendly fuels, rapid expansion of automotive sector, and increasing price of fuel.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Natural Gas Vehicle by Segment
The study includes a forecast for the global natural gas vehicle by type, fueling system, vehicle class, application, and region.
Natural Gas Vehicle Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• CNG Vehicle
• LNG Vehicle
Natural Gas Vehicle Market by Fueling System [Shipment Analysis by Value from 2018 to 2030]:
• Fast-Fill
• Time-Fill
Natural Gas Vehicle Market by Vehicle Class [Shipment Analysis by Value from 2018 to 2030]:
• Compact
• Midsize
• Large
Natural Gas Vehicle Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Passenger Cars
• Light-Duty Vehicles
• Heavy-Duty Vehicles
• Buses
• Off-Highway Vehicles
• Others
Natural Gas Vehicle Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Natural Gas Vehicle Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies natural gas vehicle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the natural gas vehicle companies profiled in this report include-
• Maruti Suzuki
• Volkswagen
• Fiat
• Honda
• General Motors
• Renault
• Hyundai
• Ford
• Iran Khodro
• Volvo
Natural Gas Vehicle Market Insights
Lucintel forecasts that compact is expected to witness highest growth over the forecast period due to its significant use in city driving purpose given to its fuel-efficiency and affordability.
Within this market, passenger car is expected to witness highest growth over the forecast period.
APAC is expected to witness highest growth over the forecast period due to rising population demand for passenger vehicles and existence of supportive government intiatives towards the use of natural gas in the region.
Features of the Global Natural Gas Vehicle Market
Market Size Estimates: Natural gas vehicle market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Natural gas vehicle market size by various segments, such as by type, fueling system, vehicle class, application, and region in terms of value ($B).
Regional Analysis: Natural gas vehicle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, fueling systems, vehicle classes, applications, and regions for the natural gas vehicle market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the natural gas vehicle market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the natural gas vehicle market size?
Answer: The global natural gas vehicle market is expected to reach an estimated $26.2 billion by 2030.
Q2. What is the growth forecast for natural gas vehicle market?
Answer: The global natural gas vehicle market is expected to grow with a CAGR of 6.5% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the natural gas vehicle market?
Answer: The major drivers for this market are growing interest towards eco-friendly fuels, rapid expansion of automotive sector, and increasing price of fuel.
Q4. What are the major segments for natural gas vehicle market?
Answer: The future of the natural gas vehicle market looks promising with opportunities in the passenger car, light-duty vehicle, heavy-duty vehicle, bus, and off-highway vehicle applications.
Q5. Who are the key natural gas vehicle market companies?
Answer: Some of the key natural gas vehicle companies are as follows:
• Maruti Suzuki
• Volkswagen
• Fiat
• Honda
• General Motors
• Renault
• Hyundai
• Ford
• Iran Khodro
• Volvo
Q6. Which natural gas vehicle market segment will be the largest in future?
Answer: Lucintel forecasts that compact is expected to witness highest growth over the forecast period due to its significant use in city driving purpose given to its fuel-efficiency and affordability.
Q7. In natural gas vehicle market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to rising population demand for passenger vehicles and existence of supportive government intiatives towards the use of natural gas in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the natural gas vehicle market by type (CNG vehicle and LNG vehicle), fueling system (fast-fill and time-fill), vehicle class (compact, midsize, and large), application (passenger cars, light-duty vehicles, heavy-duty vehicles, buses, off-highway vehicles, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Natural Gas Vehicle Market, Natural Gas Vehicle Market Size, Natural Gas Vehicle Market Growth, Natural Gas Vehicle Market Analysis, Natural Gas Vehicle Market Report, Natural Gas Vehicle Market Share, Natural Gas Vehicle Market Trends, Natural Gas Vehicle Market Forecast, Natural Gas Vehicle Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Natural Gas Vehicle Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Natural Gas Vehicle Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Natural Gas Vehicle Market by Type
3.3.1: CNG Vehicle
3.3.2: LNG Vehicle
3.4: Global Natural Gas Vehicle Market by Fueling System
3.4.1: Fast-fill
3.4.2: Time-fill
3.5: Global Natural Gas Vehicle Market by Vehicle Class
3.5.1: Compact
3.5.2: Midsize
3.5.3: Large
3.6: Global Natural Gas Vehicle Market by Application
3.6.1: Passenger Cars
3.6.2: Light-Duty Vehicles
3.6.3: Heavy-Duty Vehicles
3.6.4: Buses
3.6.5: Off-Highway Vehicles
3.6.6: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Natural Gas Vehicle Market by Region
4.2: North American Natural Gas Vehicle Market
4.2.1: North American Natural Gas Vehicle Market by Vehicle Class: Compact, Midsize, and Large
4.2.2: North American Natural Gas Vehicle Market by Application: Passenger Cars, Light-Duty Vehicles, Heavy-Duty Vehicles, Buses, Off-Highway Vehicles, and Others
4.3: European Natural Gas Vehicle Market
4.3.1: European Natural Gas Vehicle Market by Vehicle Class: Compact, Midsize, and Large
4.3.2: European Natural Gas Vehicle Market by Application: Passenger Cars, Light-Duty Vehicles, Heavy-Duty Vehicles, Buses, Off-Highway Vehicles, and Others
4.4: APAC Natural Gas Vehicle Market
4.4.1: APAC Natural Gas Vehicle Market by Vehicle Class: Compact, Midsize, and Large
4.4.2: APAC Natural Gas Vehicle Market by Application: Passenger Cars, Light-Duty Vehicles, Heavy-Duty Vehicles, Buses, Off-Highway Vehicles, and Others
4.5: ROW Natural Gas Vehicle Market
4.5.1: ROW Natural Gas Vehicle Market by Vehicle Class: Compact, Midsize, and Large
4.5.2: ROW Natural Gas Vehicle Market by Application: Passenger Cars, Light-Duty Vehicles, Heavy-Duty Vehicles, Buses, Off-Highway Vehicles, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Natural Gas Vehicle Market by Type
6.1.2: Growth Opportunities for the Global Natural Gas Vehicle Market by Fueling System
6.1.3: Growth Opportunities for the Global Natural Gas Vehicle Market by Vehicle Class
6.1.4: Growth Opportunities for the Global Natural Gas Vehicle Market by Application
6.1.5: Growth Opportunities for the Global Natural Gas Vehicle Market by Region
6.2: Emerging Trends in the Global Natural Gas Vehicle Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Natural Gas Vehicle Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Natural Gas Vehicle Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Maruti Suzuki
7.2: Volkswagen
7.3: Fiat
7.4: Honda
7.5: General Motors
7.6: Renault
7.7: Hyundai
7.8: Ford
7.9: Iran Khodro
7.10: Volvo
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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