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
[257 Pages Report] The global CNG and LPG vehicle market size is projected to grow from 2,135 thousand units sales in 2021 to 4,389 thousand units sales by 2026, at a CAGR of 15.5%. Factors such as growing demand for low emission commuting and governments supporting CNG and LPG vehicles through subsidies & tax rebates have compelled the manufacturers to provide CNG and LPG vehicles around the world.
Increasing investments by governments across the globe to develop CNG and LPG infrastructure and incentives offered to buyers will create opportunities for OEMs to expand their revenue stream and geographical presence. The market in Asia Pacific is projected to experience steady growth owing to the high demand for cost efficient and low-emission vehicles, while the North American market is the fastest growing market due to the government initiatives and growing high-performance Commercial vehicle segment. However, the low presence of CNG and LPG fueling stations, higher costs involved in initial investments, and performance constraints could hamper the growth of global CNG and LPG Vehicle market.
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COVID-19 Impact On the CNG and LPG Vehicle Market:
The production and sales of new vehicles had come to a halt across the globe as the whole ecosystem had been disrupted in the initial outbreak of COVID 19. OEMs had to wait until lockdowns were lifted to resume production, which affected their businesses. Hence, vehicle manufacturers had to adjust the production volume. Also, component manufacturing was suspended, and small Tier II and Tier III manufacturers faced liquidity issues. The automotive industry is highly capital-intensive and relies on frequent financing to continue operations. Thus, the production suspension during the outbreak and lower demand had an unprecedented impact on CNG and LPG vehicle manufacturers.
Due to the COVID-19 pandemic, many countries had imposed a complete lockdown of more than two months, which, in turn, has impacted vehicle production. Manufacturing units around the world were shut down, and vehicle sales have taken a huge hit. However, the majority of the automakers resumed vehicle production with limited production and necessary measures. Contitions improved in the latter months, but overall most manufacturers had lower sales for CNG and LPG vehicles in 2020.
Although most OEMs did not report any major losses, there were few OEMs, which suffered from the outbreak. For instance, Honda’s sales went down by more than 15% during the third quarter of 2020, while operating profit fell by around 13% overall during the whole year. The combined annual sales of Japanese automakers fell by around 7.3%. Volkswagen’s sales fell during the first few quarters, but it recovered by the 4th quarter of 2020. The company suffered a reduction in sales of CNG and LPG vehicles as customers began to shift towards Electric Vehicles during the pandemic.
Market Dynamics:
Driver: Low operating cost compared to petroleum vehicles
The operating cost of CNG and LPG vehicles is much less compared to petroleum vehicles. Nowadays when petrol prices are on the rise due to its increased demand and less reserves, alternative fuels like CNG and LPG are more economical especially for people who drive more. This is because the initial cost of CNG or LPG easily gets covered by the amount saved in a few years depending on how much the user drives their vehicle. The petroleum prices have increased drastically over the years, however CNG and LPG prices have increased at a much lower amount. This may be one of the important drivers to increase the market share of CNG and LPG Vehicles in the coming Future. A CNG vehicle can drive around 21 KM/ KG of fuel while Diesel can drive around 17 KM/ L while, petrol can be used on an average of 15 KM/ L. Thus, CNG and LPG Vehicles can drive a lot more at a lower cost thus reducing vehicles cost of operations.
Restraint: Higher maintainence cost and initial investment cost compared to petroleum vehicles
CNG and LPG Vehicles tend to be priced higher than regular petrol vehicles. This is due to the extra components added in these vehicles. As some parts of these vehicles get damaged faster compared to petrol vehicles (parts which are more susceptible to over-heating) due to lack of lubrication in most of these vehicles, these vehicles need much more regular maintenance over the years and thus costs more in long term. Furthermore, the parts need to be replaced from time to time compared to petrol vehicles which usually have a longer life for such parts. Thus, only people who drive a lot every month prefer using CNG and LPG vehicles. For instance, fleet providers may use CNG as they can drive a lot daily for their services. CNG and LPG Vehicles are cost effective only when the vehicles are extensively driven.
Opportunity: Rising concerns of countries around the world for lower emission fuel vehicles
The rising concerns for reducing emissions by countries all around the world may lead to increase in growth of low emission fuel vehicles like CNG and LPG Vehicles. European countries have declared the ambition to reduce emissions in the coming decades and may be a major market for these vehicles in the coming years. Asian countries have already been supporting the growth of alternative fuel vehicles like CNG and LPG for reduction in emissions and cost due to import of petrol. As the present vehicles can be easily changed to CNG or LPG fuel systems and at an affordable price, we can expect an explosive growth in CNG and LPG vehicle market and aftermarket in the coming years.
Challenge: Improper Drainage causes cylinder damage
CNG and LPG systems have various challenges which need to be addressed. With increasing technology, many such challenges have been mitigated. However, some key challenges still need to be addressed. One such problem is improper drainage that can cause unnecessary cylinder damage. NPFA 52 requires the shield systems to be able to drain solids and liquids away from the cylinder. This means that holes are drilled at certain intervals. However, it has been discovered that many suppliers of kit services provide no allowance for drainage that is provided in the company fitted systems.
The OEM-fitted segment is expected to be the fastest-growing segment during the forecast period
OEM/factory-fitted CNG and LPG vehicles currently have much lower sales compared to the aftermarket conversions. This is because the cost of factory-fitted CNG or LPG vehicles is much higher than that of the petrol variant of the same vehicle and getting a CNG or LPG kit fitted on it for aftermarket conversion. However, the price difference may reduce over the years with growing economies of scale. This may lead to a lowering in the cost of company fitted vehicles. OEM fitted vehicles also have various advantages, such as personalization for the vehicle (for top vehicle models) and the warranty provided with the vehicle when buying it, which are the main reasons for their increasing sales. Some locally available part providers may have warranty or cylinder-related problems, especially if the parts are not from certified kit companies.
Sequential Kit segment is expected to be the fastest-growing segment during the forecast period
Sequential kits have a faster growing demand compared to venturi kits due to their offering of higher fuel economy and better control on emissions in vehicles. The market for sequential kits is projected to register a higher growth rate in North America and Europe due to the increasing trend of emission reduction in commercial vehicles and stringent emission laws in various countries of these regions. Asia Oceania is also expected to witness a significant growth in sales of sequential kits due to the increasing demand for CNG and LPG converted passenger and commercial vehicles in the region.
The Asia Oceania market is projected to hold the largest share by 2026
Asia Oceania is currently the world’s largest market for CNG and LPG vehicles. Countries like China, India, South Korea, and Thailand have the largest share of the market in the region. China is the largest market in the region due to its government policies to support the adoption of low emission fuel vehicles and the low cost of vehicle conversions. India is the second-largest market for CNG and LPG vehicles and also the fastest-growing market in the region. This is because of the country’s high taxes on petrol, which increases the demand for alternative fuel vehicles. The government’s new vehicle scrappage policies will also grow the number of CNG vehicles exponentially besides lowering the cost of aftermarket conversion in the country. South Korea and Thailand are also big markets for CNG and LPG vehicles due to government support and stringent emission norms. In Japan and Indonesia, emission norms are increasingly stringent, providing growth opportunities for the CNG and LPG vehicle market. These countries have also been trying to reduce the imports of petroleum. Thailand and Japan are among the fastest-growing markets in the region due to higher adoptability of CNG and LPG bi-fuel and dual fuel vehicles and government support for reducing emissions.
Key Market Players
The major players in the global CNG & LPG Market include Suzuki Motor Corporation (Japan), Honda Motor Company (Japan), Hyundai Motor Group (South Korea), Volkswagen AG (Germany) and Ford Motor Company (US). These companies offer extensive products and solutions for the CNG and LPG vehicle industry; and have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.
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Scope of the Report
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|
Report Metric |
Details |
|
Market size available for years |
2018–2026 |
|
Base year considered |
2020 |
|
Forecast period |
2021-2026 |
|
Forecast units |
Volume (Thousand Units) |
|
Segments covered |
Fuel Type, Vehicle Type, Vehicle Body Type, Engine System Type, Intake System Type, Kit Type, Fitting Type and Region. |
|
Geographies covered |
Asia Oceania, Europe, North America, and RoW |
|
Companies Covered |
Suzuki Motor Corporation (Japan), Honda Motor Company (Japan), Hyundai Motor Group (South Korea), Volkswagen AG (Germany), Ford Motor Company (US). |
This research report categorizes the CNG and LPG vehicle market based on Fuel Type, Vehicle Type, Vehicle Body Type, Engine System Type, Intake System Type, Kit Type, Fitting Type and Region.
Based on the Fuel Type:
- CNG
- LPG
Based on the Vehicle Body Type:
- Passenger Vehicles
- Commercial Vehicles
- Three-wheelers
Based on the Vehicle Type:
- Light-duty Vehicle
- Heavy-duty Vehicle
Based on the Engine System Type:
- Dedicated Fuel
- Bi-fuel
- Dual Fuel
Based on the Intake System Type (LPG):
- Converter-mixer System
- Vapor Phase Injection (VPI)
- Liquid Phase Injection (LPI)
- Liquid Phase Direct Injection (LPDI)
Based on the Fitting Type:
- OEM/Factory-fitted
- Aftermarket
Based on the Kit Type:
- Venturi
- Sequential
Based on the region:
-
Asia Oceania
- China
- India
- Japan
- South Korea
- Indonesia
- Thailand
-
North America
- US
- Canada
- Mexico
-
Europe
- France
- Germany
- Italy
- Spain
- Russia
- Turkey
- United Kingdom
-
RoW
- Brazil
- Argentina
- Iran
- South Africa
Recent Developments
- In December 2020, Ford Motor Company showcased its 4th generation self-driving platform with better sensors, cleaning tech, and batteries and available in a hybrid option with different fuel variants.
- In November 2020, Honda Motor Company showcased the 9th generation Civic model’s prototype, which is expected to be on sale in the 2nd half of 2021.
- In September 2020, Hyundai launched a new Tucson model with best in segment features and class-leading capabilities. It is the 4th generation of the Tucson model and is compatible with different types of fuels. A hybrid version is also available.
- In July 2020, Ford Motor Company launched the Ford Bronco Sport, a rugged small SUV equipped with standard 4x4 configurations for rugged terrains. The vehicle runs on an EcoBoost engine.
- In March 2020, Volkswagen launched T-Roc, an SUV equipped with its TSI engine, 1.5L EVO (Dual Fuel Engines). Highly fuel-efficient and equipped with six airbags, ABS, ESC, tire pressure monitoring system, and reverse camera, the SUV is certified 5 Star in terms of safety.
- In March 2020, Fiat Chrysler Automobiles launched its Ram 1500, which features a V8 engine with 428 hp and uses CNG as fuel for Europe’s stringent emission laws.
- In December 2019, Honda Motor Company launched the 7th generation Honda City, first in Thailand, then in India, Malaysia, and the Philippines. The Vehicle is available in Hatchback and Sedan variants.
- In October 2019, Honda Motor Company unveiled the 4th generation Jazz in Japan. It is a hybrid vehicle that can be made compatible with CNG.
- In May 2019, Fiat Chrysler Automobiles launched its Grand Siena CNG in Brazil. The vehicle has 5th generation CNG kits installed and comes with a 520L trunk.
- In March 2019, Ford Motor Company launched the Ford Figo’s CNG version with a 1.2 L engine and better features, like a 6-speed torque converter, 6.5-inch touchscreen system, etc.
- In May 2018, Suzuki Motor Corporation launched its 2nd generation Ertiga, first in Indonesia, then in countries like Brunei, India, the Philippines, South Africa, and Thailand. In India, it was launched after taking care of BS6 norms.
Frequently Asked Questions (FAQ):
What is the current size of the global CNG and LPG vehicle market?
The global CNG and LPG Vehicle market is estimated to be 2,135 thousand units in 2021 and projected to reach 4,389 thousand units by 2026, at a CAGR of 15.5%
Who are the winners in the global CNG and LPG vehicle market?
Companies like Suzuki Motor Corporation (Japan), Honda Motor Company (Japan), Hyundai Motor Group (South Korea), Volkswagen AG (Germany) and Ford Motor Company (US). These companies offer extensive products and solutions for the CNG and LPG vehicle industry; and have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.
What is the Covid-19 impact on CNG and LPG vehicle manufacturers?
Most Top CNG and LPG Vehicle Manufacturers incurred losses due to sales reduction during the pandemic in the initial months. The sales recovered in the latter years, however, overall the companies suffered varying amount of losses.
What are the new market trends impacting the growth of the CNG and LPG vehicle market?
IoT in alternate fuel vehicles, Bi-fuel vehicles , 3D Printing, connected vehicles are the key market trends or technologies which will have a major impact on the CNG and LPG vehicle market in the future.
What are the different engine systems used in the CNG and LPG vehicle market?
CNG and LPG vehicles currently available in the market can be classified based on engine system type into three types (Dedicated fuel system, Bi-fuel system, Dual fuel system). Dedicated fuel systems use only CNG or LPG as their fuel. They have certain disadvantages due to the non-availability of fuel in many places, the possibility of other fuel-related problems, etc. Due to these concerns, CNG and LPG vehicles were less popular before the development and introduction of bi-fuel and dual-fuel vehicles. Many of the disadvantages of CNG and LPG vehicles became negated due to the presence of another fuel like petrol or diesel, which are more widely available. CNG and LPG bi-fuel and dual fuel vehicles are now available in large numbers, especially in Asia and some European Middle Eastern countries. Countries like China, India, Japan, South Korea, Argentina, Spain, Iran etc. are major markets for this market. In this chapter, the CNG and LPG vehicle market has been segmented by engine system type into dedicated fuel, bi-fuel, and dual fuel. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 32)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITIONS
1.3 INCLUSIONS & EXCLUSIONS
TABLE 1 INCLUSIONS & EXCLUSIONS FOR CNG AND LPG VEHICLE MARKET
1.4 CNG AND LPG VEHICLE MARKET SCOPE
FIGURE 1 CNG AND LPG VEHICLE MARKET SEGMENTATION
1.4.1 YEARS CONSIDERED FOR THE STUDY
1.5 PACKAGE SIZE
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 36)
2.1 RESEARCH DATA
FIGURE 2 CNG AND LPG VEHICLE MARKET: RESEARCH DESIGN
FIGURE 3 RESEARCH METHODOLOGY MODEL
2.2 SECONDARY DATA
2.2.1 KEY SECONDARY SOURCES
2.2.2 KEY DATA FROM SECONDARY SOURCES
2.3 PRIMARY DATA
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS
2.3.2 PRIMARY PARTICIPANTS
2.4 CNG AND LPG VEHICLE MARKET ESTIMATION METHODOLOGY
FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
2.5 CNG AND LPG VEHICLE MARKET SIZE ESTIMATION
2.5.1 BOTTOM-UP APPROACH
FIGURE 6 CNG AND LPG VEHICLE MARKET SIZE ESTIMATION METHODOLOGY FOR CNG AND LPG VEHICLE MARKET: BOTTOM-UP APPROACH
2.5.2 TOP-DOWN APPROACH
FIGURE 7 CNG AND LPG VEHICLE MARKET SIZE ESTIMATION METHODOLOGY FOR CNG AND LPG VEHICLE MARKET: TOP-DOWN APPROACH
2.5.3 FACTOR ANALYSIS FOR CNG AND LPG VEHICLE MARKET SIZING: DEMAND AND SUPPLY SIDE
2.6 CNG AND LPG VEHICLE MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 8 DATA TRIANGULATION
2.7 FACTOR ANALYSIS
2.8 RESEARCH ASSUMPTIONS & LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 47)
FIGURE 9 CNG AND LPG VEHICLE CNG AND LPG VEHICLE MARKET: CNG AND LPG VEHICLE MARKET DYNAMICS
FIGURE 10 CNG AND LPG VEHICLE MARKET, BY REGION, 2021–2026 (UNITS)
FIGURE 11 HEAVY-DUTY VEHICLE SEGMENT EXPECTED TO REGISTER HIGHER CAGR THAN LIGHT-DUTY VEHICLE SEGMENT DURING FORECAST PERIOD
FIGURE 12 COVID-19 IMPACT ON CNG AND LPG VEHICLE MARKET, 2018–2026
4 PREMIUM INSIGHTS (Page No. - 52)
4.1 ATTRACTIVE OPPORTUNITIES IN CNG AND LPG VEHICLE MARKET
FIGURE 13 INCREASING DEMAND FOR EFFICIENT & LOW EMISSION COMMUTING TO DRIVE MARKET
4.2 MARKET, BY REGION
FIGURE 14 ASIA OCEANIA ESTIMATED TO BE LARGEST MARKET IN 2021
4.3 MARKET, BY FUEL TYPE
FIGURE 15 LPG SEGMENT EXPECTED TO REGISTER HIGHER CAGR THAN CNG SEGMENT DURING FORECAST PERIOD
4.4 MARKET, BY VEHICLE BODY TYPE
FIGURE 16 COMMERCIAL VEHICLE SEGMENT EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
4.5 MARKET, BY VEHICLE TYPE
FIGURE 17 HEAVY-DUTY VEHICLE SEGMENT EXPECTED TO REGISTER HIGHER CAGR THAN LIGHT-DUTY VEHICLE SEGMENT DURING FORECAST PERIOD
4.6 MARKET, BY FITTING TYPE
FIGURE 18 OEM/FACTORY-FITTED SEGMENT EXPECTED TO HIGHER CAGR THAN AFTERMARKET SEGMENT DURING FORECAST PERIOD
4.7 MARKET, BY KIT TYPE
FIGURE 19 SEQUENTIAL SEGMENT EXPECTED TO REGISTER HIGHER CAGR THAN VENTURI SEGMENT DURING FORECAST PERIOD
4.8 MARKET, BY ENGINE SYSTEM TYPE
FIGURE 20 DEDICATED FUEL SEGMENT EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
4.9 MARKET, BY INTAKE SYSTEM TYPE
FIGURE 21 LIQUID PHASE DIRECT INJECTION (LPDI) SEGMENT EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW (Page No. - 57)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 22 CNG AND LPG VEHICLE MARKET: MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Significant increase in vehicle production and sales globally
FIGURE 23 GLOBAL VEHICLE SALES, 2010–2019 (MILLION UNITS)
5.2.1.2 Lower operational cost compared to petroleum vehicles
TABLE 2 US: NATIONAL AVERAGE RETAIL FUEL PRICES OF CONVENTIONAL AND ALTERNATIVE FUELS
FIGURE 24 LNG & GAS PRICING
5.2.1.3 Rising petrol prices in the international market
TABLE 3 US: PETROL AVERAGE PRICING TREND OVER THE PAST FEW YEARS
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
TABLE 4 CNG, LPG, AND LNG STATIONS WORLDWIDE
5.2.3 OPPORTUNITIES
5.2.3.1 Rising concerns worldwide about vehicle emissions
FIGURE 25 WORLDWIDE EMISSIONS DATA, 2019
5.2.3.2 Availability of dual fuel options in vehicles
TABLE 5 TOP SELLING CNG OR LPG VEHICLE MODELS WORLDWIDE
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
TABLE 6 MARKET: IMPACT OF MARKET DYNAMICS
5.3 PORTER’S FIVE FORCES
FIGURE 26 PORTER’S FIVE FORCES: MARKET
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
TABLE 7 MARKET: IMPACT OF PORTER’S 5 FORCES
5.4 MARKET ECOSYSTEM
FIGURE 27 MARKET: ECOSYSTEM ANALYSIS
TABLE 8 MARKET: ROLE OF COMPANIES IN ECOSYSTEM
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 28 SUPPLY CHAIN ANALYSIS: MARKET
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
TABLE 9 MARKET: PRICE RANGE ANALYSIS FOR CNG PASSENGER VEHICLE SEGMENT, 2020 (USD)
FIGURE 29 PRICING ANALYSIS OF PASSENGER VEHICLES ACROSS VARIOUS REGIONS, 2020 (USD)
5.7 TECHNOLOGY ANALYSIS
5.7.1 BI-FUEL VEHICLES
FIGURE 30 PARTS OF BI-FUEL VEHICLE TRANSMISSION SYSTEM
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
5.10.1 US
TABLE 10 EXISTING REGULATIONS, SUBSIDIES, AND TAX STRUCTURE IN US
5.10.2 CHINA
TABLE 11 EXISTING REGULATIONS, SUBSIDIES, AND TAX STRUCTURE IN CHINA
5.10.3 INDIA
TABLE 12 EXISTING REGULATIONS, SUBSIDIES, AND TAX STRUCTURE IN INDIA
5.10.4 JAPAN
TABLE 13 EXISTING REGULATIONS, SUBSIDIES, AND TAX STRUCTURE IN JAPAN
5.10.5 SOUTH KOREA
TABLE 14 EXISTING REGULATIONS, SUBSIDIES, AND TAX STRUCTURE IN SOUTH KOREA
5.10.6 IRAN
TABLE 15 EXISTING REGULATIONS, SUBSIDIES, AND TAX STRUCTURE IN IRAN
5.10.7 ITALY
TABLE 16 EXISTING REGULATIONS, SUBSIDIES, AND TAX STRUCTURE IN ITALY
5.10.8 GERMANY
TABLE 17 EXISTING REGULATIONS, SUBSIDIES, AND TAX STRUCTURE IN GERMANY
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
TABLE 18 OEM ANNOUNCEMENTS
5.12.4 IMPACT ON AUTOMOTIVE PRODUCTION
5.13 MARKET, SCENARIOS (2020–2025)
FIGURE 36 MARKET – FUTURE TRENDS & SCENARIO, 2020–2026 (THOUSAND UNITS)
5.13.1 MOST LIKELY SCENARIO
TABLE 19 MOST LIKELY SCENARIO, BY REGION, 2021–2026 (THOUSAND UNITS)
5.13.2 OPTIMISTIC SCENARIO
TABLE 20 OPTIMISTIC SCENARIO, BY REGION, 2021–2026 (THOUSAND UNITS)
5.13.3 PESSIMISTIC SCENARIO
TABLE 21 PESSIMISTIC SCENARIO, BY REGION, 2021–2026 (THOUSAND UNITS)
6 CNG AND LPG VEHICLE MARKET, BY ENGINE/SYSTEM TYPE (Page No. - 88)
6.1 INTRODUCTION
FIGURE 37 DEDICATED FUEL SEGMENT EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 22 MARKET, BY ENGINE/SYSTEM TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 23 MARKET, BY ENGINE/SYSTEM TYPE, 2021–2026 (THOUSAND UNITS)
6.2 OPERATIONAL DATA
TABLE 24 POPULAR CNG AND LPG OEMS AND KIT PROVIDERS GLOBALLY
6.2.1 ASSUMPTIONS
TABLE 25 ASSUMPTIONS: BY ENGINE/SYSTEM TYPE
6.3 RESEARCH METHODOLOGY
6.4 DEDICATED FUEL
6.4.1 GOVERNMENT INCENTIVES TO DRIVE ADOPTION OF DEDICATED FUEL SYSTEM VEHICLES
TABLE 26 DEDICATED FUEL: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 27 DEDICATED FUEL: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
6.5 BI-FUEL
6.5.1 EASY FUEL SWITCHING TO ENCOURAGE BI-FUEL SYSTEM VEHICLES GROWTH
TABLE 28 BI-FUEL: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 29 BI-FUEL: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
6.6 DUAL FUEL
6.6.1 FAVORABLE GOVERNMENT POLICIES TO INCREASE GROWTH OF DUAL FUEL VEHICLE SEGMENT
TABLE 30 DUAL FUEL: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 31 DUAL FUEL: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
6.7 KEY PRIMARY INSIGHTS
FIGURE 38 KEY PRIMARY INSIGHTS
7 CNG AND LPG VEHICLE MARKET, BY FITTING TYPE (Page No. - 96)
7.1 INTRODUCTION
FIGURE 39 OEM/FACTORY-FITTED SEGMENT EXPECTED TO REGISTER HIGHER CAGR THAN AFTERMARKET SEGMENT DURING FORECAST PERIOD
TABLE 32 MARKET, BY FITTING TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 33 MARKET, BY FITTING TYPE, 2021–2026 (THOUSAND UNITS)
7.2 OPERATIONAL DATA
TABLE 34 POPULAR CNG AND LPG OEMS AND KIT PROVIDERS WORLDWIDE
7.2.1 ASSUMPTIONS
TABLE 35 ASSUMPTIONS: BY FITTING TYPE
7.3 RESEARCH METHODOLOGY
7.4 OEM-FITTED/FACTORY-FITTED
TABLE 36 TOP OEM/FACTORY-FITTED VEHICLE MODELS SOLD IN ASIA
7.4.1 OEM/FACTORY-FITTED VEHICLES TO GROW FASTER DUE TO GROWING DEMAND OF GREEN VEHICLES
TABLE 37 OEM/FACTORY-FITTED: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 38 OEM/FACTORY FITTED: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
7.5 AFTERMARKET
7.5.1 GOVERNMENT REGULATIONS TO BENEFIT AFTERMARKET CONVERSIONS ACROSS VARIOUS COUNTRIES
TABLE 39 AFTERMARKET: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 40 AFTERMARKET: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
7.6 KEY PRIMARY INSIGHTS
FIGURE 40 KEY PRIMARY INSIGHTS
8 CNG AND LPG VEHICLE MARKET, BY FUEL TYPE (Page No. - 103)
8.1 INTRODUCTION
FIGURE 41 PETROL VS AUTOGAS (LPG)
FIGURE 42 BY FUEL TYPE, LPG SEGMENT PROJECTED TO REGISTER HIGHER CAGR DURING FORECAST PERIOD (2021–2026)
TABLE 41 MARKET, BY FUEL TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 42 MARKET, BY FUEL TYPE, 2021–2026 (THOUSAND UNITS)
8.2 OPERATIONAL DATA
TABLE 43 CNG & LNG STATIONS IN EUROPE
8.2.1 ASSUMPTIONS
TABLE 44 ASSUMPTIONS: BY FUEL TYPE
8.3 RESEARCH METHODOLOGY
8.4 CNG
TABLE 45 COMPETITIVENESS OF AUTOGAS AGAINST COMPRESSED NATURAL GAS (CNG)
8.4.1 LOW COST OF OPERATIONS TO DRIVE CNG VEHICLE MARKET
TABLE 46 CNG: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 47 CNG: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
8.5 LPG
TABLE 48 AUTOGAS MARKET DATA (LPG DATA)
8.5.1 EUROPE AND NORTH AMERICA TO ENCOURAGE AUTOGAS ADOPTION
TABLE 49 LPG: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 50 LPG: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
8.6 KEY PRIMARY INSIGHTS
FIGURE 43 KEY PRIMARY INSIGHTS
9 CNG AND LPG VEHICLE MARKET, BY INTAKE SYSTEM TYPE (LPG VEHICLES) (Page No. - 112)
9.1 INTRODUCTION
FIGURE 44 LPDI SYSTEM SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD (2021–2026)
TABLE 51 MARKET, BY INTAKE SYSTEM TYPE (LPG), 2018–2020 (THOUSAND UNITS)
TABLE 52 MARKET, BY INTAKE SYSTEM TYPE (LPG), 2021–2026 (THOUSAND UNITS)
9.2 OPERATIONAL DATA
TABLE 53 POPULAR CNG AND LPG OEMS AND KIT PROVIDERS WORLDWIDE
9.2.1 ASSUMPTIONS
TABLE 54 ASSUMPTIONS: BY INTAKE SYSTEM TYPE (LPG VEHICLES)
9.3 RESEARCH METHODOLOGY
9.4 CONVERTER-MIXER SYSTEM
9.4.1 LOW COST OF CONVERSION TO BOOST MARKET
TABLE 55 CONVERTER-MIXER SYSTEM: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 56 CONVERTER-MIXER SYSTEM: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
9.5 VAPOR PHASE INJECTION (VPI) SYSTEM
9.5.1 EUROPE TO BE LARGEST MARKET FOR VAPOR PHASE INJECTION (VPI) SYSTEM
TABLE 57 VPI SYSTEM: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 58 VPI SYSTEM: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
9.6 LIQUID PHASE INJECTION (LPI) SYSTEM
9.6.1 HIGHER FUEL EFFICIENCY AND BETTER EMISSION CONTROL TO INCREASE MARKET
TABLE 59 LPI SYSTEM: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 60 LPI SYSTEM: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
9.7 LIQUID PHASE DIRECT INJECTION (LPDI) SYSTEM
9.7.1 LOWEST OPERATIONAL COST TO INCREASE MARKET
TABLE 61 LPDI SYSTEM: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 62 LPDI SYSTEM: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
9.8 KEY PRIMARY INSIGHTS
FIGURE 45 KEY PRIMARY INSIGHTS
10 CNG AND LPG VEHICLE MARKET, BY KIT TYPE (Page No. - 121)
10.1 INTRODUCTION
FIGURE 46 BY KIT TYPE, SEQUENTIAL SEGMENT EXPECTED TO REGISTER HIGHER CAGR THAN VENTURI SEGMENT DURING FORECAST PERIOD
TABLE 63 MARKET, BY KIT TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 64 MARKET, BY KIT TYPE, 2021–2026 (THOUSAND UNITS)
10.2 OPERATIONAL DATA
TABLE 65 POPULAR CNG AND LPG KIT PROVIDERS WORLDWIDE
10.2.1 ASSUMPTIONS
TABLE 66 ASSUMPTIONS: BY KIT TYPE
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
TABLE 67 VENTURI: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 68 VENTURI: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
10.5 SEQUENTIAL
10.5.1 HIGHER FUEL ECONOMY TO INCREASE DEMAND FOR SEQUENTIAL KITS
TABLE 69 SEQUENTIAL: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 70 SEQUENTIAL: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
10.6 KEY PRIMARY INSIGHTS
FIGURE 47 KEY PRIMARY INSIGHTS
11 CNG AND LPG VEHICLE MARKET, BY VEHICLE BODY TYPE (Page No. - 128)
11.1 INTRODUCTION
FIGURE 48 COMMERCIAL VEHICLE SEGMENT EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 71 MARKET, BY VEHICLE BODY TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 72 MARKET, BY VEHICLE BODY TYPE, 2021–2026 (THOUSAND UNITS)
11.2 OPERATIONAL DATA
TABLE 73 POPULAR CNG AND LPG VEHICLE PROVIDERS GLOBALLY
11.2.1 ASSUMPTIONS
TABLE 74 ASSUMPTIONS: BY VEHICLE BODY TYPE
11.3 RESEARCH METHODOLOGY
11.4 PASSENGER CAR
11.4.1 GROWING DEMAND FOR LOW EMISSION AND LOW OPERATIONAL COST FUELS
TABLE 75 PASSENGER CAR: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 76 PASSENGER CAR: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
11.5 COMMERCIAL VEHICLE
11.5.1 EUROPE AND NORTH AMERICA TO ENCOURAGE CNG AND LPG FOR COMMERCIAL VEHICLES
TABLE 77 COMMERCIAL VEHICLE: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 78 COMMERCIAL VEHICLE: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
11.6 THREE-WHEELER
11.6.1 ASIA OCEANIA IS THE LARGEST CNG AND LPG THREE-WHEELER MARKET
TABLE 79 THREE-WHEELER: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 80 THREE-WHEELER: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
11.7 KEY PRIMARY INSIGHTS
FIGURE 49 KEY PRIMARY INSIGHTS
12 CNG AND LPG VEHICLE MARKET, BY VEHICLE TYPE (Page No. - 136)
12.1 INTRODUCTION
FIGURE 50 HEAVY-DUTY VEHICLE SEGMENT PROJECTED TO REGISTER HIGHER CAGR THAN LIGHT-DUTY VEHICLE SEGMENT DURING FORECAST PERIOD
TABLE 81 MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 82 MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
12.2 OPERATIONAL DATA
TABLE 83 POPULAR CNG AND LPG VEHICLE PROVIDERS WORLDWIDE
12.2.1 ASSUMPTIONS
TABLE 84 ASSUMPTIONS: BY VEHICLE TYPE
12.3 RESEARCH METHODOLOGY
12.4 LIGHT-DUTY VEHICLE
12.4.1 GROWING DEMAND FOR LOW EMISSION PASSENGER VEHICLES TO BOOST THIS SEGMENT
TABLE 85 LIGHT-DUTY VEHICLE: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 86 LIGHT-DUTY VEHICLE: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
TABLE 87 NGV PASSENGER CAR MODELS IN EUROPE
TABLE 88 LIGHT COMMERCIAL VEHICLE MODELS FOR EUROPE
12.5 HEAVY-DUTY VEHICLE
12.5.1 EUROPEAN AND NORTH AMERICAN GOVERNMENTS TO ENCOURAGE CNG AND LPG FOR HEAVY-DUTY VEHICLES
TABLE 89 HEAVY-DUTY VEHICLE: MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 90 HEAVY-DUTY VEHICLE: MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
TABLE 91 BUS MODELS IN EUROPE
TABLE 92 TRUCK MODELS FOR EUROPE
TABLE 93 LIGHT VEHICLES, BUSES, AND TRUCKS IN USE IN EUROPE
12.6 KEY PRIMARY INSIGHTS
FIGURE 51 KEY PRIMARY INSIGHTS
13 CNG AND LPG VEHICLE MARKET, BY REGION (Page No. - 148)
13.1 INTRODUCTION
FIGURE 52 ASIA OCEANIA ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 2021
TABLE 94 MARKET, BY REGION, 2018–2020 (THOUSAND UNITS)
TABLE 95 MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)
13.2 ASIA OCEANIA
FIGURE 53 SIGNIFICANT LOWER TAX AND GOVERNMENT INCENTIVES FOR CNG AND LPG VEHICLES TO DRIVE MARKET IN ASIA OCEANIA
FIGURE 54 ASIA OCEANIA:CNG AND LPG VEHICLE MARKET SNAPSHOT
TABLE 96 ASIA OCEANIA:CNG AND LPG VEHICLE MARKET, BY COUNTRY, 2018–2020 (THOUSAND UNITS)
TABLE 97 ASIA OCEANIA:CNG AND LPG VEHICLE MARKET, BY COUNTRY, 2021–2026 (THOUSAND UNITS)
13.2.1 CHINA
13.2.1.1 Gazprom-China deal expected to boost demand
TABLE 98 CHINA:CNG AND LPG VEHICLE MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 99 CHINA:CNG AND LPG VEHICLE MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.2.2 INDIA
13.2.2.1 Vehicle Scrappage Policy and Green Tax for High Emission Vehicles in India
TABLE 100 INDIA:CNG AND LPG VEHICLE MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 101 INDIA: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.2.3 JAPAN
13.2.3.1 Stringent emission standards to lead to CNG and LPG vehicle market growth
TABLE 102 JAPAN: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 103 JAPAN: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.2.4 SOUTH KOREA
13.2.4.1 OEMs to work with government to build required infrastructure for CNG and LPG vehicles
TABLE 104 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 105 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.2.5 INDONESIA
13.2.5.1 Government schemes and subsidies to improve market
TABLE 106 INDONESIA: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 107 INDONESIA: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.2.6 THAILAND
13.2.6.1 OEMs to work with government to build required CNG and LPG vehicles infrastructure
TABLE 108 THAILAND: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 109 THAILAND: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.3 EUROPE
FIGURE 55 EUROPE: MARKET, BY COUNTRY, 2021-2026 (THOUSAND UNITS)
TABLE 110 EUROPE: MARKET, BY COUNTRY, 2018–2020 (THOUSAND UNITS)
TABLE 111 EUROPE: MARKET, BY COUNTRY, 2021–2026 (THOUSAND UNITS)
13.3.1 TURKEY
13.3.1.1 Government measures and policies to increase demand for LPG vehicles
TABLE 112 TURKEY: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 113 TURKEY: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.3.2 ITALY
13.3.2.1 Major OEMs and aftermarket kit companies to develop CNG and LPG vehicle market
TABLE 114 ITALY: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 115 ITALY: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.3.3 RUSSIA
13.3.3.1 High adoption of CNG and LPG vehicles expected due to favorable government policies
TABLE 116 RUSSIA: MARKET, BY VEHICLE TYPE, POINT, 2018–2020 (THOUSAND UNITS)
TABLE 117 RUSSIA: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.3.4 SPAIN
13.3.4.1 Government and OEMs working together for growth of market
TABLE 118 SPAIN: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 119 SPAIN: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.3.5 GERMANY
13.3.5.1 Growing demand for alternative fuel vehicles to grow market
TABLE 120 GERMANY: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 121 GERMANY: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.3.6 FRANCE
13.3.6.1 Government initiatives to boost CNG and LPG vehicle market
TABLE 122 FRANCE: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 123 FRANCE: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.3.7 UK
13.3.7.1 Government initiatives to boost market in short term
TABLE 124 UK: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 125 UK: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.4 NORTH AMERICA
FIGURE 56 NORTH AMERICA: MARKET SNAPSHOT
TABLE 126 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2020 (THOUSAND UNITS)
TABLE 127 NORTH AMERICA: MARKET, BY COUNTRY, 2021–2026 (THOUSAND UNITS)
13.4.1 CANADA
13.4.1.1 Government support for CNG and LPG infrastructure to boost demand
TABLE 128 CANADA: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 129 CANADA: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.4.2 US
13.4.2.1 Inclination towards innovation, technology, and development of safe and comfortable automobiles to boost demand
TABLE 130 US: CNG AND LPG VEHICLE MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 131 US: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.4.3 MEXICO
13.4.3.1 Favorable government regulations to boost demand
TABLE 132 MEXICO: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 133 MEXICO: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.5 REST OF THE WORLD
FIGURE 57 REST OF THE WORLD MARKET, BY COUNTRY, 2021 VS 2026
TABLE 134 REST OF THE WORLD: MARKET, BY COUNTRY, 2018–2020 (THOUSAND UNITS)
TABLE 135 REST OF THE WORLD: MARKET, BY COUNTRY, 2021–2026 (THOUSAND UNITS)
13.5.1 BRAZIL
13.5.1.1 Government support for CNG infrastructure to boost demand
TABLE 136 BRAZIL: CNG AND LPG VEHICLE MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 137 BRAZIL: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.5.2 SOUTH AFRICA
13.5.2.1 Government policies and participation of OEMs to boost demand
TABLE 138 SOUTH AFRICA: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 139 SOUTH AFRICA: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.5.3 ARGENTINA
13.5.3.1 Favorable government regulations to boost demand
TABLE 140 ARGENTINA: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 141 ARGENTINA: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
13.5.4 IRAN
13.5.4.1 High demand to boost CNG vehicle market
TABLE 142 IRAN: MARKET, BY VEHICLE TYPE, 2018–2020 (THOUSAND UNITS)
TABLE 143 IRAN: MARKET, BY VEHICLE TYPE, 2021–2026 (THOUSAND UNITS)
14 COMPETITIVE LANDSCAPE (Page No. - 181)
14.1 MARKET EVALUATION FRAMEWORK
FIGURE 58 MARKET EVALUATION FRAMEWORK
14.2 OVERVIEW
FIGURE 59 RIGHTS TO WIN - DETAILS ON KEY DEVELOPMENTS BY LEADING PLAYERS
14.3 MARKET SHARE ANALYSIS FOR MARKET
TABLE 144 MARKET SHARE ANALYSIS FOR OE MARKET, 2020
FIGURE 60 MARKET SHARE ANALYSIS FOR OE, 2020
14.4 MARKET EVALUATION FRAMEWORK: REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS
FIGURE 61 TOP PUBLIC/LISTED PLAYERS DOMINATING MARKET IN LAST 5 YEARS
14.5 MARKET RANKING ANALYSIS FOR MARKET
FIGURE 62 MARKET RANKING ANALYSIS, 2020
14.6 COMPETITIVE SCENARIO
14.6.1 NEW PRODUCT LAUNCHES
TABLE 145 PRODUCT LAUNCHES, 2017–2020
14.6.2 DEALS
TABLE 146 DEALS, 2017–2020
14.6.3 EXPANSIONS, 2017–2020
TABLE 147 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
FIGURE 63 MARKET: COMPETITIVE LEADERSHIP MAPPING FOR VEHICLE MANUFACTURERS, 2020
TABLE 148 MARKET: COMPANY PRODUCT FOOTPRINT, 2020
TABLE 149 MARKET: COMPANY APPLICATION FOOTPRINT , 2020
TABLE 150 MARKET: COMPANY REGION FOOTPRINT, 2020
FIGURE 64 MARKET: COMPETITIVE LEADERSHIP MAPPING FOR CNG/LPG PARTS/KIT MANUFACTURERS, 2020
14.8 WINNERS VS. TAIL-ENDERS
TABLE 151 WINNERS VS. TAIL-ENDERS
15 COMPANY PROFILES (Page No. - 202)
15.1 KEY PLAYERS
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
15.1.1 FORD MOTOR COMPANY
TABLE 152 FORD MOTOR COMPANY: BUSINESS OVERVIEW
FIGURE 65 FORD MOTOR COMPANY: COMPANY SNAPSHOT
TABLE 153 FORD MOTOR COMPANY: PRODUCTS OFFERED
TABLE 154 FORD MOTOR COMPANY: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 155 FORD MOTOR COMPANY: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.2 SUZUKI MOTOR CORPORATION
TABLE 156 SUZUKI MOTOR CORPORATION: BUSINESS OVERVIEW
FIGURE 66 SUZUKI MOTOR CORPORATION: COMPANY SNAPSHOT
TABLE 157 SUZUKI MOTOR CORPORATION: PRODUCTS OFFERED
TABLE 158 SUZUKI MOTOR CORPORATION: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 159 SUZUKI MOTOR CORPORATION: PARTNERSHIPS/COLLABORATIONS/ JOINT VENTURES/SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.3 HONDA MOTOR COMPANY
TABLE 160 HONDA MOTOR COMPANY: BUSINESS OVERVIEW
FIGURE 67 HONDA MOTOR COMPANY: COMPANY SNAPSHOT
TABLE 161 HONDA MOTOR COMPANY: PRODUCTS OFFERED
TABLE 162 HONDA MOTOR COMPANY: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 163 HONDA MOTOR COMPANY: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.4 HYUNDAI MOTOR GROUP
TABLE 164 HYUNDAI MOTOR GROUP: BUSINESS OVERVIEW
FIGURE 68 HYUNDAI MOTOR GROUP: COMPANY SNAPSHOT
TABLE 165 HYUNDAI MOTOR GROUP: PRODUCTS OFFERED
TABLE 166 HYUNDAI MOTOR GROUP: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 167 HYUNDAI MOTOR GROUP: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.5 VOLKSWAGEN AG
TABLE 168 VOLKSWAGEN AG: BUSINESS OVERVIEW
FIGURE 69 VOLKSWAGEN AG: COMPANY SNAPSHOT
TABLE 169 VOLKSWAGEN AG: PRODUCTS OFFERED
TABLE 170 VOLKSWAGEN AG: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 171 VOLKSWAGEN AG: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
FIGURE 70 VOLKSWAGEN AG: BRAND REVENUE DISTRIBUTION
15.1.6 FIAT CHRYSLER AUTOMOBILES
TABLE 172 FIAT CHRYSLER AUTOMOBILES: BUSINESS OVERVIEW
FIGURE 71 FIAT CHRYSLER AUTOMOBILES: COMPANY SNAPSHOT
TABLE 173 FIAT CHRYSLER AUTOMOBILES: PRODUCTS OFFERED
TABLE 174 FIAT CHRYSLER AUTOMOBILES: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 175 FIAT CHRYSLER AUTOMOBILES: PARTNERSHIPS/COLLABORATIONS/ JOINT VENTURES/SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.7 GENERAL MOTORS
TABLE 176 GENERAL MOTORS: BUSINESS OVERVIEW
FIGURE 72 GENERAL MOTORS: COMPANY SNAPSHOT
TABLE 177 GENERAL MOTORS: PRODUCTS OFFERED
TABLE 178 GENERAL MOTORS: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 179 GENERAL MOTORS: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.8 LANDI RENZO S.P.A.
TABLE 180 LANDI RENZO: BUSINESS OVERVIEW
FIGURE 73 LANDI RENZO S.P.A.: COMPANY SNAPSHOT
TABLE 181 LANDI RENZO S.P.A.: PRODUCTS OFFERED
TABLE 182 LANDI RENZO S.P.A.: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.9 TOMASETTO ACHILLE
TABLE 183 TOMASETTO ACHILLE: BUSINESS OVERVIEW
TABLE 184 TOMASETTO ACHILLE: PRODUCTS OFFERED
TABLE 185 TOMASETTO ACHILLE: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.10 WESTPORT FUEL SYSTEMS
TABLE 186 WESTPORT FUEL SYSTEMS: BUSINESS OVERVIEW
FIGURE 74 WESTPORT FUEL SYSTEMS: COMPANY SNAPSHOT
TABLE 187 WESTPORT FUEL SYSTEMS: PRODUCTS OFFERED
TABLE 188 WESTPORT FUEL SYSTEMS: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 189 WESTPORT FUEL SYSTEMS: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.11 TOYOTA MOTOR CORPORATION
TABLE 190 TOYOTA MOTOR CORPORATION: BUSINESS OVERVIEW
FIGURE 75 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT
TABLE 191 TOYOTA MOTOR CORPORATION: PRODUCTS OFFERED
TABLE 192 TOYOTA MOTOR CORPORATION: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 193 TOYOTA MOTOR CORPORATION: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
15.1.12 TATA MOTORS LIMITED
TABLE 194 TATA MOTORS LIMITED: BUSINESS OVERVIEW
FIGURE 76 TATA MOTORS LIMITED: COMPANY SNAPSHOT
TABLE 195 TATA MOTORS LIMITED PRODUCTS OFFERED
TABLE 196 TATA MOTORS LIMITED: NEW PRODUCT DEVELOPMENTS/EXPANSIONS
TABLE 197 TATA MOTORS LIMITED: PARTNERSHIPS/COLLABORATIONS/JOINT VENTURES/ SUPPLY CONTRACTS/AGREEMENTS/MERGERS & ACQUISITIONS
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
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 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 250)
16.1 BI-FUEL SYSTEM, PASSENGER CAR, AND LIGHT COMMERCIAL VEHICLE ARE THE SEGMENTS FOR MANUFACTURERS/SUPPLIERS TO FOCUS ON
16.2 EMERGING MARKETS CAN BE A KEY FOCUS AREA FOR CNG AND LPG VEHICLE MANUFACTURERS
16.3 CONCLUSION
17 APPENDIX (Page No. - 251)
17.1 KEY INSIGHTS OF INDUSTRY EXPERTS
17.2 DISCUSSION GUIDE
17.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
17.4 AVAILABLE CUSTOMIZATIONS
17.5 RELATED REPORTS
17.6 AUTHOR DETAILS
The study involved four major activities in estimating the current size of the CNG and LPG vehicle market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, publications of CNG and LPG vehicle manufacturers, International Energy Agency (IEA), Federal Transit Administration (FTA), Regional Transportation Authority (RTA), country-level vehicle associations and trade organizations, and the US Department of Transportation (DOT)], CNG and LPG vehicle related magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, government organizations websites, and technical articles have been used to identify and collect information useful for an extensive commercial study of the global CNG and LPG vehicle market.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of this market scenario through secondary research. Several primary interviews have been conducted with market experts from the demand- and supply-side OEMs (in terms of component supply, country-level government associations, and trade associations) and component manufacturers across three major regions, namely, Asia Pacific, Europe, North America. Approximately 23% and 77% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, LinkedIn, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.
After interacting with industry experts, we conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. Following is the breakdown of primary respondents.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The bottom-up approach was used to estimate and validate the total market size. This method was also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Data Triangulation
After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Objectives of the Study
- To analyze the CNG and LPG vehicle market and forecast its size, in terms of volume (thousand units), from 2018 to 2026
- To provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To segment the market and forecast its size, by volume (thousand units), based on fuel type (CNG and LPG)
- To segment the market and forecast its size, by volume (thousand units), based on vehicle type (light-duty vehicle and heavy-duty vehicle)
- To segment the market and forecast its size, by volume (thousand units), based on vehicle body type (three-wheeler, passenger car, and commercial vehicle)
- To segment the market and forecast its size, by volume (thousand units), based on kit type (venturi and sequential)
- To segment the market and forecast its size, by volume (thousand units), based on fitting type (OEM/factory-fitted and aftermarket)
- To segment the market and forecast its size, by volume (thousand units), based on engine/system type (dedicated, bi-fuel, and dual fuel)
- To segment the market and forecast its size, by volume (thousand units), based on intake system type (converter-and-mixer system, VPI, LPI, LPDI)
- To segment the market and forecast its size, by volume (thousand units), based on region {Asia Oceania, Europe, North America, and Rest of the world (RoW)}
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product developments, expansions, partnerships, collaborations, and other activities carried out by key industry participants.
CNG Cars & Its impact on CNG & LPG Vehicle Market
CNG (compressed natural gas) vehicles run on compressed natural gas that is stored in high-pressure tanks in the vehicle. CNG vehicles are a subset of the CNG & LPG vehicle market, which includes any vehicle that runs on compressed natural gas (CNG). CNG vehicles are a subset of the CNG & LPG vehicle market that are typically designed to run on compressed natural gas. CNG vehicles are becoming more popular due to lower operating costs, lower emissions, and improved fuel economy when compared to traditional gasoline or diesel-powered vehicles.
Several factors, including environmental regulations, fuel prices, and government incentives, are driving the growth of the CNG cars market. As countries around the world seek to reduce their reliance on fossil fuels and reduce emissions, interest in alternative fuel vehicles such as CNG and LPG vehicles is growing.
By extending the reach of CNG Cars services, companies are also creating new business opportunities. Companies are using these services to create new products and services and to drive their bottom line.
- Increased demand: As CNG cars become more popular due to their lower operating costs, reduced emissions, and better fuel economy compared to traditional gasoline or diesel-powered vehicles, the demand for CNG vehicles is likely to increase.
- Government incentives: Governments around the world are offering incentives to encourage the adoption of alternative fuel vehicles, including CNG cars.
- Infrastructure development: As the demand for CNG cars increases, there will be a need for additional infrastructure to support these vehicles.
- Competition with LPG vehicles: While CNG cars are part of the CNG & LPG vehicle market, they compete with LPG vehicles for market share.
The top players in the CNG Cars market are Fiat Chrysler Automobiles, Ford Motor Company, General Motors, Honda Motor Co., Ltd., Hyundai Motor Company, Suzuki Motor Corporation, Tata Motors, Toyota Motor Corporation, Volkswagen AG, Volvo Group.
Some of the key industries that are going to get impacted because of the growth of CNG Cars are,
1. Energy industry: The rise of CNG cars will increase the demand for natural gas, which is the primary fuel source for these vehicles.
2. Automotive industry: The growth of the CNG & LPG vehicle market will impact the automotive industry, as car manufacturers will need to adapt to meet the demand for CNG cars.
3. Infrastructure industry: As mentioned earlier, the growth of CNG cars will require the development of additional infrastructure to support these vehicles.
4. Environmental industry: CNG cars are often seen as a more sustainable and environmentally friendly alternative to gasoline or diesel-powered vehicles.
5. Government policies: Governments around the world are implementing policies to reduce their carbon footprint and promote the adoption of sustainable transportation options.
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- CNG and LPG vehicle market, by fuel type, at the country-level (For countries covered in the report)
- CNG and LPG vehicle market, by fitting type, at the country-level (For countries covered in the report)
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Growth opportunities and latent adjacency in CNG & LPG Vehicle Market