openPR Logo
Press release

CNG vehicles Market 2022 Globally Effective Factors, Regional Demand and Forecast by 2030 | Top Vendors Renault, General Motors, Toyota Motor, Volkswagen Group, Groupe PSA, Volvo Group

01-06-2022 07:48 AM CET | Logistics & Transport

Press release from: Market Research Future

CNG vehicles Market

CNG vehicles Market

CNG Vehicles Market is projected to be worth USD 310.32 billion by 2030, registering a CAGR of 14.72% during the forecast period (2022 to 2030).

The consistent rise in prices of conventional fuels is likely to create incremental opportunities for manufacturers of CNG vehicles over the forecast year. Also, the foremost manufacturers in the CNG vehicle market are expansively focusing on unique developments and improvements in their business models keeping the factor of paradigm shifts in end-user preferences towards CNG vehicle usages. Market Research Future’s in-depth analysis of the Global CNG vehicles Market Research Report Categories by Product Type (OEM, Car Modification), By Application (Personal use, Commercial use), By Region Forecast to 2025

CNG vehicles signify an evolving segment of the existing vehicle categories that eminently promote the widespread and new clean technology. Several carmakers have adopted the concept of clean technology and largely ramping up investments into it to rise opportunities in CNG vehicles category. The CNG vehicle market is likely to witness subdued expansion from USD 1,09,783.6 Million in 2017 to the expected market value of USD 1,85,422.3 Million at a CAGR OF 5.96 percent approximately by 2025, as per a latest report published by Market Research Future.

Get Free Sample Report @

The demand for CNG vehicles remains influenced by array of broad factors, ranging from environmental concerns to the thriving production of automobiles. The incremental rise in the demand for cars with dual fuel system such as petrol and CNG is influencing the CNG vehicles market on a positive note. The above factor is considered to be a key marketing pitch for CNG vehicles in markets among a high number of price-sensitive customers. Another concern on continuous swelling pollution levels are notably driving the demand for the CNG vehicle due to high fuel emissions from other vehicles.

In the current scenario in automobiles industry, the developing advancements in autonomous technologies and innovations are happening with concern to control fuel emissions, which, at the same time is gaining the center stage in the growth of CNG vehicle market. Due to these factors, CNG vehicle is proven to be highly environmentally friendly and hence, remains prominent sales influencer among the customers and car lovers.

Key Players

The notable market players in the global CNG vehicle market include General Motors, Fiat Chrysler Automobiles, Volkswagen Group, Toyota Motor Corporation, Ford Motor Company, Groupe PSA, Volvo Group, Hyundai Motor Company, Honda Motor Co. Ltd., Suzuki Motor Corporation, Daimler AG, and Renault. The market is highly competitive where the innovation of technology, mergers & acquisitions, and product extensions have been some of the prominent growth strategies employed by the aforesaid market players and thus making the global CNG vehicle market to achieve tremendous valuation in the forecasted period.

Speak to Analyst @

Market Segmentation

Market Research Future Report offers a comprehensive segmental analysis of the global market for CNG vehicles that are listed on the basis of product type, application type, and region type.

By product type, the market segment comprises of OEM and car modification. In this segment, car modifications account to capture over 60% of the total market share owing to the increasing prices of crude oil. This has influenced the demand for cheaper fuels. Further, the car modification segment is set to poise and witness growth at the highest CAGR of 6.03% during the estimated period. This increase has been claimed as a larger number of owners are increasingly preferring to buy CNG vehicles. Besides all, expansion of OEM activities to accommodate older vehicles is likely to provide ample market opportunities in the future timeframe.

By application type, the market comprises of commercial use and personal use, where personal use segment accounts for the significant share of the market, and it is expected to proliferate with highest CAGR of 6.14 percent by the year 2025. In the current scenario, there has been a significant rise in buying power of consumers for CNG vehicles for personal use, which is catering the market to multiply and grow substancially. The reason behind such preference is the mounting price of petrol that has shifted consumer’s interest towards buying CNG vehicle.

Region wise, the global CNG Vehicle Market has covered the major regions of North America, Europe, Asia Pacific (Japan, China, India, South Korea), and the rest of the world.

Browse Complete Report @

CNG Vehicle market is Expected to proliferate into a Progressive Market Globally

According to the reports published by Market Research Future, the rest of the world accounts a significant market share which is calculated to be over 46 percent. This share of the market is making critical developments in CNG vehicles. Countries namely Iran, Pakistan, and GCC, are some of the key listed regions that have contributed to the utmost in the market to rise in the years. Spotting on GCC countries, the CNG vehicle market is witnessing considerable growth due to factors of traffic congestion and air pollution. They have duly encouraged the adoption of CNG to reduce harmful carbon emissions. Also, low prices of natural gas have immensely opened ways for an overall reduction in vehicle ownership, which is eventually attracting more travelers and tourists to wander places easily and conveniently. Hence, in these countries, the adoption of CNG is high, and in the future as well it will proliferate owing to benefits behind CNGs coupled with essential government regulations in the region is also encouraging CNG vehicle adoption. These are some of the crucial factors that are expected to increase the sales of CNG during the forecast period.

Next comes China, where the market for CNG vehicle is bolstering as it shares the market value with 18 percent and more. The escalating reason is increased tax waiver initiatives by China government that has encourages the adoption of CNG vehicles broadly. The rising level of air pollution has also put efforts to bring on CNG vehicles priory to reduce carbon emissions. Moreover, improvement of infrastructure and tax incentives couples with spreading of environmental awareness have contributed significantly lead in the market of CNG vehicles. China has the leading position when it comes to the global CNG market likewise Japan, which is another significant market. Also, the presence of crucial CNG vehicle manufacturers in Japan is making the making more prominent and rise in the coming years.

Request for Customization @

Also Read More From MRFR:

Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America 
Phone: +1 628 258 0071(US)  
+44 2035 002 764(UK)

About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release CNG vehicles Market 2022 Globally Effective Factors, Regional Demand and Forecast by 2030 | Top Vendors Renault, General Motors, Toyota Motor, Volkswagen Group, Groupe PSA, Volvo Group here

News-ID: 2518676 • Views: 411

More Releases from Market Research Future

Silo Bags Market 2020-2026 | Top Trends and Key Players Analysis Report
Transparency Market Research delivers key insights for the silo bags market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020-2026. In terms of growth, the global silo bags market is projected to witness growth of 6% by the end of 2026, owing to the benefit of storing grains for a long time, and providing protection against insects. Access Complete Report of Silo Bags
Farm Tractor Market to Grow at a CAGR of 3.88 from 2019 to 2027 | Industry Trend …
A farm tractor is a special designed vehicle with large rear tyres for use in agricultural soil. Farm tractors are powered by either gasoline or diesel. Farmers are under pressure to equip them with advanced automated agricultural technology as the world's population grows, as does the demand for food. As a result, there is a high demand for farm tractors, thereby indicating a high sales growth for the farm tractors
Automotive Antenna Market | Deep Research Study with Forecast to 2027
The global automotive antenna market is anticipated to expand at a CAGR of ~4% during the forecast period, owing to a rise in the demand for connected vehicles and related technology in vehicles across the globe. Advent of connected vehicles and automatic systems has increased the number of automotive antennas used per vehicle. The automotive antenna market is presently focused on several multiple functions, including remote-less entry, navigation, telematics, tire pressure
Pickup Truck Market 2020 - 2030 | Current Insight with Future Aspect Analysis
According to the report, the global pickup truck market is projected to reach US$ 950 Bn by 2030, expanding at a CAGR of ~2% during the forecast period, owing to the increase in affordability for vehicles among consumers and transition of people into middle and upper middle-income groups. The global pickup truck market is mature; however, expansion of small- and medium-scale enterprises coupled with high popularity for pickup trucks in

All 5 Releases