Automotive Natural Gas Vehicle Market by Fuel Type (CNG and LNG), Vehicle Type (Light-duty, Medium-duty, and Heavy-duty), and Region – Global Forecast to 2023.
Key Players:
Dongfeng Motors Group Limited (China), AB Volvo (Sweden), Beiqi Foton Motors Group Limited (China), Shaanxi Automobile Group Limited (China), Daimler AG (Germany), and CNH Industrial NV (The Netherlands), Landi Renzo (Italy), and Westport (Canada).
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The surge in the extraction of natural gas production is rising owing to technology progress in natural gas extraction methods. The market is on an upward growth curve and is yet to penetrate in various regions and user segments, this fact presents high opportunities for development of the market in the coming years. Investments in vehicles and retail infrastructure are expected to create positive returns although temporary government support may be needed to create an NGV market. Lesser fuel price, a decrease in greenhouse gas emission, and making of less carbon dioxide per unit of energy used is expected to impel market growth in the forecast period.
The productive integration of supply chain management is firmly increasing the development of the market. The main success factors and participants’ tendencies are increasingly rising by the strategies being used by market competitors. The alterations seen in terms of strategy execution and creation are altering the development pace of the market. The evolution patterns are revised in tandem to the customer likings to realize greatest growth, and in the long run, viability. The framework for growth plans has stimulated the market for potential new entrants.
Other key drivers expected to contribute towards the growth of automotive natural gas vehicle market are growth in refueling station infrastructure and rising crude oil price. In addition to that, conversions or retrofitting are available across different platforms for consumers to get the desired fuel efficiency.
Segment Analysis:
The automotive natural gas vehicle market is segmented based on fuel type and vehicle type.
On the basis of fuel type, Compressed Natural Gas (CNG) is widely used and covers the majority of the automotive natural gas vehicle market.
On the basis of vehicle type, heavy-duty vehicles, such as transit buses, road tractors, and trucks, have the largest demand for the automotive natural gas vehicle. There are very few Liquefied Petroleum Gas (LPG) fuel options available in light-duty and medium-duty vehicles.
Regional Analysis:
The regional analysis of the automotive natural gas vehicle market comprises of regions such as the Asia Pacific, the Americas, Europe, and Rest of the World. The Asia Pacific region is predicted to dominate the market in future, owing to the region’s major market share for fleet operators and commercial vehicles. For example, China is displaying growth in refueling infrastructure for LNG and CNG fuel.
The Americas region follows the Asia Pacific region in the automotive natural gas vehicle market owing to the rise in the adoption rate of the natural gas driven vehicle. Thus, the automotive natural gas vehicle market is projected to develop approximately 6% CAGR in the forecast period.
Industry Updates:
Sep 2018 The National Renewable Energy Laboratory (NREL), US Department of Energy, California Energy Commission, and South Coast Air Quality Management District (SCAQMD) have joined forces to introduce modern research focused on medium- and heavy-duty natural vehicles and gas engines. The NREL will award up to $11 million for projects in three categories of reducing the cost natural gas vehicles, increasing vehicle efficiency, and advancing new innovative medium- and heavy-duty natural gas engine designs.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVES
2.2.2 ASSUMPTIONS & LIMITATIONS
2.3 MARKETS STRUCTURE
3 MARKET RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.4 FORECAST MODEL
4 MARKET LANDSCAPE
4.1 FIVE FORCES ANALYSIS
4.1.1 THREAT OF NEW ENTRANTS
4.1.2 BARGAINING POWER OF BUYERS
4.1.3 BARGAINING POWER OF SUPPLIERS
4.1.4 THREAT OF SUBSTITUTES
4.1.5 SEGMENT RIVALRY
4.2 VALUE CHAIN/SUPPLY CHAIN OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET
5 INDUSTRY OVERVIEW OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET
5.1 INTRODUCTION
5.2 GROWTH DRIVERS
5.3 IMPACT ANALYSIS
5.4 MARKET CHALLENGES
Continued…
LIST OF TABLES:
TABLE 1 GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
TABLE 5 MIDDLE EAST & AFRICA AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
TABLE 6 LATIN AMERICA AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
Continued…
LIST OF FIGURES:
FIGURE 1 GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET SEGMENTATIONFIGURE 2 FORECAST METHODOLOGY
FIGURE 3 FIVE FORCES ANALYSIS OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET
FIGURE 4 VALUE CHAIN OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET
FIGURE 5 SHARE OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET IN 2017, BY COUNTRY (IN %)
FIGURE 6 GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET, 2017-2023,
Continued…
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