Press release
Top Factor Driving Automotive Natural Gas Vehicle Market Growth in 2025: Stringent Air Pollution Regulations Boost Demand For Automotive Natural Gas Vehicles
Automotive Natural Gas Vehicle Market Size
Strict controls on air pollution play a significant role in propelling the expansion of the automotive natural gas vehicle industry. This type of pollution, which involves the introduction of harmful physical, chemical, or biological substances into the air, can negatively affect humans and animals. As a response to the potentially damaging effects of air pollution, governments worldwide have begun to enforce numerous pollution control regulations. Consequently, this shift has escalated the demand for automotive natural gas vehicles, renowned for their low emission characteristics due to the reduced carbon content in their fuel. As an example, the Department for Environment, Food and Rural Affairs, a governmental body in the UK, set the Environmental Targets (Fine Particulate Matter) (England) Regulations 2023 in September 2023. These regulations impose a legally binding maximum limit of 10 μg/m3 for yearly mean PM2.5 concentrations, applicable to all monitoring stations in England, with a deadline for compliance set for 2040. Thus, these strict measures to curb air pollution bolster the automotive natural gas vehicle industry.
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How will the growth rate of the automotive natural gas vehicle market shape industry trends by 2034?
Over the past few years, there has been a robust growth in the size of the automotive natural gas vehicle market. It is anticipated to expand from $12.18 billion in 2024 to $12.98 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.6%. Factors such as concerns over energy security, the desire to reduce emissions, plentiful supply of natural gas, potential for cost savings, and supportive government policies can be credited for the growth observed in the historic period.
In the coming years, the automotive natural gas vehicle market is predicted to experience substantial growth, reaching a market size of $17.43 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this growth are stricter emissions standards, the rise of renewable natural gas, synergies with electrification, global infrastructure expansion, policies transitioning towards sustainable energy, urbanization on the rise, and increased consumer education and awareness. Key trends to watch for during this forecast period include development of dual-fuel systems, the design of lighter weight vehicles, advancements in storage technologies, the emergence of autonomous natural gas vehicles, and sophisticated engine management systems.
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What trends are poised to drive the future success of the automotive natural gas vehicle market?
In the automotive natural gas vehicle market, the main trend that is gaining traction is product innovation. Key players in the market are focusing on the development of groundbreaking technologies to curb greenhouse gas emissions. As an example, Tata Motors, a company based in India, unveiled 5 CNG-powered trucks in September 2022. Included in this new lineup is a groundbreaking CNG-powered Medium & Heavy Commercial Vehicle (M&HCV) truck, India's first of its kind, equipped with an Advanced Driver Assistance System (ADAS) and upgraded versions of the Prima, Signa, and Ultra models for an enhanced driving experience. Furthermore, high-tech Intermediate & Light Commercial Vehicle (I&LCV) tippers and trucks were introduced to cater to the rising needs of the logistics and infrastructure industries. The environmentally friendly Signa CNG trucks, powered by a 5.7-litre SGI engine with a performance output of 180hp and 650Nm torque, provide low operating expenses, high durability, modular design, and a travel distance of up to 1,000 km. Also, there are various customization options for wheelbase, load deck, and cabins.
Which primary segments of the automotive natural gas vehicle market are driving growth and industry transformations?
The automotive natural gas vehicle market market covered in this report is segmented -
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
Subsegments:
1) By Light-Duty Vehicle: Passenger Cars, Light Trucks, Vans
2) By Medium-Duty Vehicle: Delivery Trucks, Buses, Service Vehicles
3) By High-Duty Vehicle: Freight Trucks, Long-Haul Trucks, Heavy-Duty Buses
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Which geographical regions are pioneering growth in the automotive natural gas vehicle market?
Asia-Pacific was the largest region in the automotive natural gas vehicle market in 2024. The regions covered in the automotive natural gas vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the automotive natural gas vehicle market landscape?
Major companies operating in the automotive natural gas vehicle market market include Hexagon Composites ASA, AB Volvo, Beiqi Foton Motor Co. Ltd., CNH Industrial NV, Clean Energy Fuels Corp., Cummins Engine Company Inc., PACCAR International Inc., Navistar International Corp., Quantum Fuel Systems LLC, Westport Fuel Systems Inc., General Motors Company, Maruti Suzuki India Ltd., Ford Motor Company, Hondo Motor Co. Ltd., Volkswagenwerk GmbH, Hyundai Motor Company, Iran Khodro Industrial Group, C&C Trucks Co. Ltd., Tata Engineering & Locomotive Company Ltd., Fiat SpA, Régie Nationale Des Usines Renault SAS, Caterpillar Inc., Shaanxi Automobile Group Co. Ltd., Mercedes-Benz Group AG, Krishna Landi Renzo India Private Limited, Toyota Motor Corporation, Alexander Dennis Limited, Prins Autogassystemen BV, Stellantis N. V., Iveco SpA
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What Is Covered In The Automotive Natural Gas Vehicle Global Market Report?
•Market Size Forecast: Examine the automotive natural gas vehicle market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive natural gas vehicle market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive natural gas vehicle market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive natural gas vehicle market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive natural gas vehicle market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive natural gas vehicle market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive natural gas vehicle market.
•Competitive Landscape: Review strategic developments in the automotive natural gas vehicle market, including expansions, agreements, and new product launches.
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