CNG and LPG Vehicle Market: Global Industry Analysis and Forecast to 2020


Posted July 4, 2017 by pankaj_kaware

CNG and LPG Vehicle Market: Global Industry Analysis and Forecast to 2020

 
The global automotive CNG and LPG vehicle market size, by value, is projected to grow at a CAGR of 10.55% and market size by value of industrial truck is growing at a CAGR of 2.47% during the forecast period.

The automotive CNG and LPG vehicle market is projected to reach USD 3,576.3 Million by 2020 from USD 2165.5 Million in 2015. Asia-Pacific accounts for the largest market share in the automotive CNG and LPG vehicle market. This can be attributed to the growing demand for vehicles, increasing penetration of alternative fuel, and upcoming emissions norms in the region. China is the largest market by value for automotive CNG and LPG vehicle market in Asia-Pacific followed by India and Thailand. The Asia-Pacific LPG market is growing at a CAGR of 3.82% from 2015 to 2020 in terms of value. Europe LPG market size by value is growing at a CAGR of 5.76% during the forecast period. The market in the region exhibits strong inclination towards gasoline-powered vehicles due to strict emission standards. The market for CNG and LPG vehicle in RoW and America has reached maturation phase and is stable following a slump in production and increasing competition from emerging economies in Asia-Pacific and Europe. However, with the implementation of Euro VI norms by 2017, the demand for CNG and LPG vehicle market is expected to grow. Cost effectiveness is one of major factor; which would propel the growth of CNG and LPG vehicle market.

Key drivers for the automotive CNG and LPG vehicle market include cost effectiveness, fuel efficiency, and stringent emission standards. However, factors such as demand for diesel, petrol vehicles due to low infrastructure of alternative fuel may limit the growth of the market. The forklift manufacturing industry relies on demand from the construction, manufacturing, and freight-handling industries. Consequently, the past few years have been a roller coaster for the industrial truck industry due to recession and currency fluctuations

Key players in CNG and LPG industrial truck are Toyota Industries (Japan), Crown Equipment Company (USA), Jungheinrich (Germany), Komatsu Limited (Japan), Nissan Motor Company (Japan), Manitou (France) and others. Major players of global automotive CNG and LPG vehicle market are Fiat Chrysler Automobiles NV (Italy), Ford Motors (U.S.), Suzuki Motor Corporation (Japan), Volkswagen (Germany), General Motors Company (U.S.), Honda Motor Company (Japan)

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Browse 93 tables and 88 figures spread through 191 Pages and in-depth TOC on "CNG & LPG Vehicle Market by Vehicle Type (Passenger Cars & Light Commercial Vehicles), Fuel Type (CNG & LPG), and Geography (Asia-Pacific, Europe, Americas & ROW) - Industry Trends & Forecasts to 2020"


http://www.marketsandmarkets.com/Market-Reports/cng-lpg-vehicle-market-264307618.html

This report classifies and defines the CNG and LPG vehicle market size, in terms of volume and value. It provides a comprehensive analysis and insights (both qualitative and quantitative) into the automotive CNG and LPG vehicle market, while highlighting the potential growth opportunities in coming years. It reviews the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects with respect to automotive CNG and LPG vehicle market. The report also covers dealership and supplier-relation data for all the key market players and the product life cycle for CNG and LPG vehicle market.

This report segments the automotive vehicle market as follows

By Fuel Type
CNG
LPG
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By Vehicle Type
Passenger car
LCV
OE Industrial Truck Market, By Region
Asia-Pacific
Europe
Americas
Africa
By Region
North America
Asia-Pacific
Europe
RoW
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Issued By PANKAJ
Country India
Categories Automotive
Tags cng lpg vehicle market , cng vehicle market , lpg vehicle market , cng vehicle market , lpg vehicle market
Last Updated July 4, 2017