Natural Gas Vehicles Market Size 2022: Future Growth, Share, New Investments, In-Depth Survey, Industry Demand, Key Player and Forecast 2022-2027

Natural Gas Vehicles Market report means to offer a coordinated and orderly methodology for the major aspects that have influenced the market in the past and the forthcoming market prospects on which the organizations can depend before investing. It furnishes with a reasonable examination of the market for better decision-making and assessment to put resources into it. The report analyses the elements and a complete detailed outlook of the main players that are probably going to add to the demand in the Natural Gas Vehicles in the upcoming years.

The Natural Gas Vehicles Market is expected to register a CAGR of 8.78% over the forecast period 2022-2027.

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Market Overview

The global Natural Gas Vehicles Market was valued at USD  million in 2020, and it is expected to reach USD  million by 2026, growing at a CAGR of over the forecast period. Despite the global decline in sales of vehicles amid the COVID-19 pandemic in 2020, the demand for electric vehicles witnessed a considerable increase, which in turn drove the market in focus.  Power inverter is one of the key components in an electric vehicle which ideally converts battery DC power into AC power for electric motors. Considering the growing concern among the automakers to optimize energy consumption in vehicles, the inverter manufacturers have improved inverter capabilities to handle energy, vice versa, from both the sources (i.e. battery and motor).

Major players in the Natural Gas Vehicles market are:

Maruti Suzuki, Volkswagen, Fiat, Honda, General Motors, Renault, Hyundai, Ford, Iran Khodro, Volvo Group, PSA, C&C Truck

Recent Development

Ford Motor’s largest acquisition to date was in 1999, when it acquired Volvo Car for $6.5B. It’s largest disclosed sale occurred in 2005, when it sold Hertz Global Holdings to Clayton Dubilier & Rice for $15.0B. Ford Motor has acquired in 6 different US states, and 5 countries. The Company’s most targeted sectors include automotive (25%) and internet software and services (17%).

On the basis of types, the global Natural Gas Vehicles market from 2022 to 2027 is primarily split into:

CNG Vehicle
LNG Vehicle

 On the basis of applications, the global Natural Gas Vehicles market from 2022 to 2027 covers:

Passenger Cars
Commercial Vehicles

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Asia-Pacific is Dominates The Market

The Asia-Pacific is leading the electric vehicle power inverter market followed by Europe and North America respectively. The sale of electric vehicles in China is growing at a rapid pace. The pandemic affected the global economy very badly, but despite the pandemic, the sales of electric cars in China accounted for 931 thousand units sold in 2020, with yearly growth of 11.64% over 2019. However, the government of China wants to double the speed of electric vehicle production and sales in the country. The government has announced that they will sell 10% electric vehicle of the total conventional passenger car in 2019, which will be increased to 12% by 2020. These commitments of government and growing interest of people in electric vehicles are attracting foreign vehicle manufacturers to open a production plant in China, which is boosting the power inverter market in the country.

Regional Analysis:

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)

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The study objectives of this report are:

To study and analyse the global Natural Gas Vehicles market size (value and volume) by the company, key regions/countries, products and application, history data from 2016 to 2022, and forecast to 2027.
To understand the structure of the Natural Gas Vehicles market by identifying its various sub-segments.
To share detailed information about the key factors influencing the growth of the Natural Gas Vehicles market (growth potential, opportunities, drivers, industry-specific challenges, and risks).
Focuses on the key global Natural Gas Vehicles market manufacturers, to define, describe, and analyse the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.

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Report Features:                           

The report delivers a detailed view of the industry based on Natural Gas Vehicles Market size, market growth, and opportunities. The report also analyses market key aspects such as-

- Natural Gas Vehicles Market structure: Overview, industry life cycle analysis, supply chain analysis

- Natural Gas Vehicles Market environment analysis: Growth drivers and constraints, and SWOT analysis.

- Natural Gas Vehicles Market trend and forecast analysis

- Natural Gas Vehicles Market segment trend and forecast

-Competitive landscape and dynamics: Natural Gas Vehicles Market share, product launches, etc.

-Attractive market segments and associated growth opportunities

-Emerging trends

-Strategic growth opportunities for the existing and new players

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