Automotive Natural Gas Vehicle Market to Show Incredible Growth and Forecast by 2031 | Peugeot, Volvo, BMW, Proton, Opel, Mercedes, Volkswagen

New York, According to a new market research report published by Global Insight Services Automotive Natural Gas Vehicle Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

A natural gas vehicle (NGV) is a vehicle that uses compressed natural gas (CNG) or liquefied natural gas (LNG) as a fuel. CNG is made by compressing methane, a main component of natural gas, to less than 1 percent of its volume at standard atmospheric pressure. LNG is made by cooling methane to -162°C (-260°F), at which point it becomes a liquid.

NGVs can be either dedicated or bi-fuel. A dedicated NGV is one that runs only on natural gas, while a bi-fuel NGV is one that can run on either natural gas or another fuel, such as gasoline.

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Key Trends

The key trends in Automotive Natural Gas Vehicle technology are the increasing use of compressed natural gas (CNG) and liquefied natural gas (LNG) as fuel for vehicles, and the development of new technologies to improve the efficiency of natural gas vehicles (NGVs).

CNG is increasingly being used as a fuel for vehicles due to its lower emissions of carbon dioxide, nitrogen oxides, and particulate matter than gasoline or diesel. CNG is also less expensive than gasoline, making it an attractive option for many consumers.

LNG is also being used more as a fuel for vehicles due to its low emissions and its ability to be stored and transported more easily than CNG. LNG is also less expensive than gasoline.

New technologies are being developed to improve the efficiency of NGVs. These technologies include the use of lighter materials for the construction of NGVs, the use of turbochargers and other engine modifications to improve engine efficiency, and the use of alternative fuel sources such as biogas.

The trend toward the use of NGVs is expected to continue as the benefits of these vehicles become more widely known and as the technology continues to improve.

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Key Drivers

The automotive natural gas vehicle market is primarily driven by the need to reduce environmental pollution and dependence on imported oil. Natural gas is a cleaner burning fuel than gasoline or diesel, and thus helps to reduce emissions of harmful pollutants such as carbon dioxide, nitrogen oxides, and particulate matter.

Additionally, natural gas is a domestic energy source, which reduces dependence on imported oil and helps to insulate the economy from volatile international oil prices.

Market Segmentation

The Automotive Natural Gas Vehicle Market is segmented by fuel type, vehicle type and region. By fuel type, the market is divided into compressed natural gas and liquefied natural gas. By vehicle type, the market is bifurcated into passenger vehicles and commercial vehicles. By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world.

Key Players

The key players in the Automotive Natural Gas Vehicle Market are Ford Motors, Peugeot, Volvo, BMW, Proton, Opel, Mercedes, Volkswagen, General Motors, and Honda Motor Company Ltd.

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Reasons to buy Automotive Natural Gas Vehicle Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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