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CNG and LPG Vehicle Market Growth Rapidly by the Uncertainty in Oil Prices and Stringent Regulations for Low Emission
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In terms of fuel type, the CNG and LPG vehicle market is segmented into CNG and LPG. The LPG was the largest contributor to the global market for CNG and LPG vehicles in 2015.
In terms of vehicle type, the CNG and LPG vehicle market is segmented into passenger car, light & heavy-duty truck and bus, where passenger car was the largest segment in 2015.
In 2015, Asia-Pacific was the second largest market for CNG and LPG vehicles and is expected to be the fastest growing region in the global CNG and LPG vehicle market during 2016 – 2022. The major reason for the fastest growth of the market in the region includes increased vehicle production and strict emission norms.
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Some of the major players operating in the CNG and LPG vehicle market include Ford Motor Company, Suzuki Motor Corporation, Fiat Chrysler Automobiles NV, Honda Motor Company, Volkswagen Group, Hyundai Motor Group, General Motors Company, Groupe Renault, Kia Motors Corporation, Mercedes-Benz, The Volvo Group, Isuzu Motors Ltd. and Toyota Motor Corporation and Mitsubishi Motors Corporation.
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