Press release
CNG And LPG Vehicle Market Size, Share Analysis, Industry Insights, Growth, And Forecast To 2033
CNG And LPG Vehicle Market
As per the report, the CNG and LPG Vehicles market size has grown rapidly in recent years. It will grow from $3.87 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The CNG and LPG Vehicles market size is expected to see rapid growth in the next few years. It will grow to $5.88 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
Download Free Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=15146&type=smp
Rising Demand for Clean-Energy Vehicles Boosts CNG and LPG Market Growth
The increasing adoption of clean-energy vehicles is expected to propel the growth of the CNG and LPG vehicle market going forward. Clean-energy vehicles are powered by alternative fuels or energy sources that produce lower or zero emissions compared to traditional gasoline or diesel-powered vehicles. There is a demand for clean-energy vehicles due to increasing concerns about environmental sustainability and the need to reduce carbon emissions to mitigate climate change. Clean-energy vehicles use compressed natural gas (CNG) and liquefied petroleum gas (LPG) as alternative fuels due to their lower carbon emissions compared to traditional gasoline and diesel, offering a cleaner and more environmentally friendly transportation option. For instance, in May 2022, the International Energy Agency, a France-based intergovernmental organization for global energy sector analysis, electric car sales nearly tripled in 2021 to 3.3 million, accounting for about half of the worldwide total. Furthermore, sales of electric cars (including fully electric and plug-in hybrids) doubled in 2021 to a new record of 6.6 million compared to the previous year. Therefore, the increasing adoption of clean-energy vehicles is driving the growth of the CNG and LPG vehicle market.
Leading Companies Revolutionize CNG And LPG Vehicle Market With Innovative Products Such As Altroz iCNG Twin-Cylinder Technology
Major companies operating in the CNG and LPG vehicle market are developing innovative products, such as Altroz iCNG with twin-cylinder CNG technology, to gain a competitive edge in the market. Altroz iCNG with the twin-cylinder CNG technology consists of two CNG tanks placed under the boot floor, maximizing boot space while maintaining performance that allows for a more balanced weight distribution and efficient utilization of space, addressing the common concern of reduced boot space in CNG vehicles. For instance, in May 2023, Tata Motors Limited, an India-based automotive company, launched the Altroz iCNG, equipped with twin-cylinder CNG technology. This innovative offering addresses the primary concern of boot space in CNG cars, providing owners with practical, usable space. The Altroz iCNG offers features such as leatherette seats, iRA-connected car technology, cruise control, and automatic headlamps
The cng and lpg vehicle market covered in this report is segmented -
1) By Fuel Type: Compressed Natural Gas (CNG), Liquefied Petroleum Gas(LPG)
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Sales Channel: Original Equipment Manufacturer(OEM), Retrofitting
Buy Now & Get Exclusive Discount on this Report, Checkout link @ https://www.thebusinessresearchcompany.com/Discount?id=15146&type=discount
Major companies operating in the CNG and LPG vehicle market report are Volkswagen AG, Ford Motor Company, General Motors, Tata Group, Honda Motor Co. Ltd., The HyundAI Motor Group, Nissan Motor Co. Ltd. , Groupe Renault, AB Volvo, Suzuki Motor Corporation, Cummins Inc., IVECO S.p.A., KION GROUP AG, Scania AB, MAN Truck & Bus AG, Navistar Inc., Chart Industries Inc., Clean Energy Fuels Corp., Westport Fuel Systems Inc., Landi Renzo S.p.a., Hexagon Agility Inc., AC S.A., CNG Fuels Ltd., Fiat Chrysler Automobiles, Clean Fuels Ohio
Contents of the report:
1. Executive Summary
2. CNG And LPG Vehicle Market Report Structure
3. CNG And LPG Vehicle Market Trends And Strategies
4. CNG And LPG Vehicle Market - Macro Economic Scenario
5. CNG And LPG Vehicle Market Size And Growth
…..
27. CNG And LPG Vehicle Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Explore the report store to make a direct purchase of the report @ https://www.thebusinessresearchcompany.com/report/cng-and-lpg-vehicle-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
This release was published on openPR.
Permanent link to this press release:
Copy
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 And LPG Vehicle Market Size, Share Analysis, Industry Insights, Growth, And Forecast To 2033 here
News-ID: 3562961 • Views: …
More Releases from The Business Research Company
Future Perspective: Key Factors Influencing the Intelligent Road System Market U …
The intelligent road system market is rapidly advancing as technology and infrastructure evolve to meet the demands of modern transportation. With the rise of autonomous vehicles and smart city initiatives, this sector is set to experience significant growth in the coming years. Here, we explore the market's size, leading players, key trends, and segmentation to provide a comprehensive overview of the intelligent road system landscape.
Strong Growth Outlook for the Intelligent…
Segment Analysis and Major Growth Areas in the Consumer Telematics Market
The consumer telematics market is on the brink of remarkable expansion, driven by increasing demand for vehicle monitoring and safety solutions. Advances in technology combined with growing smartphone usage and affordable data plans are setting the stage for significant market growth. Let's explore the current market size, key players, emerging trends, and detailed segment insights shaping this industry's future.
Consumer Telematics Market Size and Growth Projections
The consumer telematics market…
Worldwide Trends Overview: The Rapid Evolution of the Vehicle Diagnostics Market
The vehicle diagnostics sector is gearing up for significant expansion, driven by rapid technological advancements and evolving automotive needs. As vehicles become increasingly complex and connected, diagnostic solutions are evolving to offer more precise, efficient, and predictive capabilities. Let's explore the current market size, key players, emerging trends, and segmentation details that shape the future of this dynamic industry.
Projected Market Growth and Size of the Vehicle Diagnostics Market
The…
In-Depth Examination of Segments, Industry Trends, and Key Competitors in the El …
The electric vehicle battery swapping market is on the brink of remarkable expansion in the coming years, driven by innovative technologies and growing environmental awareness. As the demand for zero-emission vehicles intensifies, this market is set to transform how electric vehicle users recharge their batteries, promising faster, more convenient solutions. Below is a detailed look at the market's future size, key players, emerging trends, and important segments shaping its trajectory.
Strong…
More Releases for CNG
Vehicle CNG Tank CNG Cylinder Market Industry Trends, Opportunities And Overview …
Xcellent Insights has recently added a novel report on "Global Vehicle CNG TankCNG Cylinder Market, Size, Share, Growth Analysis, By Type, Application and Region" to its database that offers a comprehensive analysis of the global Vehicle CNG TankCNG Cylinder industry. The report offers details about current and historical status, market volume, market share, size, drivers, restraints, growth opportunities and prime challenges.
The aim of this report is to help users, investors…
Global CNG Tank (CNG Cylinder) Market Expected to Witness a Sustainable Growth o …
Market Research Report Store offers a latest published report on CNG Tank (CNG Cylinder) Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report.
According to this study, over the next five years the CNG Tank (CNG Cylinder) market will register a 3.3% CAGR in terms of revenue, the global market size will reach US$ 926.1 million by 2024, from US$ 812.7…
CNG Tank (CNG Cylinder) Market Is Booming Worldwide | Sintez-CIP, JFE, Jiangsu T …
A latest study released by HTF MI on Global CNG Tank (CNG Cylinder) Market covering key business segments and wide scope geographies to get deep dive analysed market data. The study is a perfect balance bridging both qualitative and quantitative information of CNG Tank (CNG Cylinder) market. The study provides historical data (i.e. Volume** & Value) from 2013 to 2018 and forecasted till 2025*. Some are the key & emerging…
Global CNG Tank (CNG Cylinder) Market – Demand, Sales Forecasts, Share and Siz …
CNG Tank Refers to the Tank for storing compressed natural gas
Scope of the Report:
This report focuses on the CNG Tank in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
Emerging trends, which have a direct impact on the dynamics of the industry, include the increase in green fleet and development of type…
Global CNG Tank (CNG Cylinder) Market Expected to Witness a Sustainable Growth o …
New report published by Market Research Report Store (MRRS) which offers insights on the global CNG Tank (CNG Cylinder) market.
CNG Tank/Cylinder is made using the cylinder shape with a semi-spherical shape covering each end. The cylinder and semi-spherical shapes provide the strongest structural shape because the circular and spherical shapes provide for equal distribution of stresses throughout the inner area of the tank producing the highest safety available for high-pressure…
Global CNG Tank (CNG Cylinder) Market News, Corporate Financial Plan, Supply and …
The market report on the CNG Tank (CNG Cylinder) Market 2017 consists of all the important aspects of the market. The market size of the CNG Tank (CNG Cylinder) market is estimated in terms of US$ value in the market report. The global market segmentation of the CNG Tank (CNG Cylinder) market is included along with its regional segmentation. Data is collected and analyzed by using the Porter’s Five Forces…
