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Automotive Natural Gas Vehicle Market Report: Size, Share, Price, Trends, Growth And Detailed Analysis, Forecast To 2032
Automotive Natural Gas Vehicle Market
Automotive Natural Gas Vehicle Market Size, Growth Rate, And Forecast
The global automotive natural gas vehicle market size grew from $11.01 billion in 2022 to $12.03 billion in 2023, at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive natural gas vehicle market size is expected to grow to $16.71 billion in 2027 at a CAGR of 8.6%.
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Automotive Natural Gas Vehicle Market Drivers
Stringent regulations for controlling air pollution are significantly contributing to the growth of the automotive natural gas vehicle market going forward. Air pollution refers to the contamination of air by any physical, chemical, or biological pollutants that are harmful to animals as well as humans. The governments are concerned about the adverse effects of air pollution and have started implementing various regulations to control pollution. This has increased the demand for automotive natural gas vehicles as they possess low emission properties due to the lower carbon content in the fuel.
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Automotive Natural Gas Vehicle Market Segments
1) By Vehicle Type: Light-Duty Vehicle, Medium-Duty Vehicle, High-Duty Vehicle
2) By Fuel Type: CNG, LNG
3) By Application: Commercial Vehicles, Passenger Cars
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Natural Gas Vehicle Market.
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Automotive Natural Gas Vehicle Market Key Players
Major competitors in the Automotive Natural Gas Vehicle Market include Agility Fuel Solutions, Aktiebolaget Volvo, Beiqi Foton Motor Co. Ltd., CNH Industrial N.V., Clean Energy Fuels, Cummins Inc., Paccar Inc., Navistar Inc., Quantum Fuel Systems LLC, Westport Fuel Systems Inc., General Motors Company, Maruti Suzuki India Ltd., Ford Motor Company, Hondo Motor Company, Volkswagenwerk GmbH, HyundaiMotor Corp, Iran Khodro, Volvo Group, C&C Truck, Tata Engineering and Locomotive Company Ltd., Fabbrica Italiana Automobili Torino, Régie Nationale Des Usines Renault, Caterpillar Inc., Shaanxi Automobile Group Limited, Mercedes-Benz Group AG, CNH Industrial NV, Landi Renzo, and Toyota Motor Corporation
The Business Research Company's "Global Automotive Natural Gas Vehicle Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Natural Gas Vehicle Market Include:
1. Executive Summary
2. Automotive Natural Gas Vehicle Market Characteristics
3. Automotive Natural Gas Vehicle Market Trends And Strategies
4. Automotive Natural Gas Vehicle Market - Macro Economic Scenario
5. Automotive Natural Gas Vehicle Market Size And Growth
.......
26. Africa Automotive Natural Gas Vehicle Market
27. Automotive Natural Gas Vehicle Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Natural Gas Vehicle Market
29. Automotive Natural Gas Vehicle Market Future Outlook and Potential Analysis
30. Appendix
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