CNG and LPG Vehicle Market Size, Trends, Growth Analysis, and Forecast | Valuates Reports

CNG and LPG Vehicle Market Size

The global CNG and LPG Vehicle market was valued at US$ 11640 million in 2023 and is anticipated to reach US$ 14820 million by 2030, witnessing a CAGR of 3.4% during the forecast period 2024-2030.

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Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.

This report aims to provide a comprehensive presentation of the global market for CNG and LPG Vehicle, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding CNG and LPG Vehicle.

By Type
• Passenger Vehicle
• Commercial Vehicle

By Application
• Home Use
• Commercial Use

Key Companies
Maruti Suzuki, Volkswagen, Fiat, Honda, General Motors, Renault, Hyundai, Ford, Toyota, Iran Khodro, Volvo Group, PSA, Mercedes-Benz, Great Wall Motors

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This release was published on openPR.