Automotive Natural Gas Vehicles Industry: 2018 Global Market Size, Sales, Revenue, Growth Factors, and Competitive Landscape Forecast To 2023

Market Research Future published a research report on Global Automotive Natural Gas Vehicles Market. The Automotive Natural Gas Vehicles market is expected to witness 6% CAGR during the period, 2018 to 2023. Report provides Automotive Natural Gas Vehicles market Analysis by Key Companies, Type, Application, Sales, Market Share, Growth Rate, and Key Country forecast to 2023.

Market Highlights

Natural gas vehicle enjoys significant advantages over gasoline and diesel propelled vehicles, such as long-term price stability, very narrow flammability range, high auto-ignition temperature, relatively cheap, and simplified fuel system. These fuel characteristics make natural gas favorable to use in high-duty vehicles. Recently, natural gas production is increased due to technology advancement in natural gas extraction method. This leads to a reduction of commodity price for natural gas. The price fluctuation of natural gases is minimum as compared to crude oil price fluctuation. The rise in crude oil prices and emission of greenhouse gasses will enable the fleet operators to adopt natural gas vehicle.

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Automotive Natural Gas Vehicles Market Key Players Analyzed In Report:

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).

Market Research Analysis

The factors that are responsible for the growth of automotive natural gas vehicle market are lower fuel cost, reduction in greenhouse gas emission, and production of less carbon dioxide per unit of energy consumed. 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.

Regional Analysis:

On the basis of region, the market is segmented based on America, Asia Pacific, Europe, and Rest of the World. In the Asia Pacific region, there is an increase in the production of commercial vehicles in countries such as China. This growing demand for non-conventional fuels by commercial vehicles will result in the growing demand for automotive natural gas vehicle market. Manufacturers are trying to focus on the commercial vehicle market to capture a major part of revenue and diversify the energy mix. This will drive the market in Asia Pacific region. In America, the fleet operators rely on natural gas-powered heavy duty vehicle due to low transportation cost. There is a huge demand for CNG driven heavy-duty vehicle, which is an economically viable, clean, and combustible fossil fuel. There are few options available in LPG conversions or retrofits in light and medium duty vehicle. Consumers are facing different challenges in terms of natural gas powered vehicle performance, such as shorter driving range and extra space for fuel storage. However, the potential investment done by automotive manufacturers in non-conventional fuels is shifted towards heavy-duty commercial vehicle. Hence, the demand for a natural gas vehicle is increased and the dependency on crude oil is minimized.

Market Segmentation:

The scope of the study segments the automotive natural gas vehicle market by its fuel type, vehicle type, and region.

By Fuel Type:

Compressed Natural Gas (CNG)

Liquefied Natural Gas (LNG)

By Vehicle Types:

Light-duty vehicle

Medium-duty vehicle

Heavy-duty vehicle

By Regions:

North America.

Asia Pacific.

Europe.

Rest of the World.

Scope of the Report

This study provides an overview of the Automotive Natural Gas Vehicle Market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for America, Europe, Asia Pacific (APAC), and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.

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TABLE OF CONTENTS:

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1 PORTER’S FIVE FORCES ANALYSIS

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

Continued…

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