Press release
Global CNG And LPG Vehicle Market Projected to Surpass $6.4 Billion by 2029 with 8.7% Annual Growth
CNG And LPG Vehicle Market
The surge in the acceptance of green, energy-efficient vehicles is set to accelerate the expansion of the CNG and LPG vehicle market. Vehicles of this nature derive their power from alternate fuels or energy supplies, which lead to decreased or completely nullified emissions when compared with their gasoline or diesel-powered counterparts. Rising ecological awareness and the urgency to curb carbon emissions to alleviate the effects of global warming has led to an increased demand for these green vehicles. They make use of compressed natural gas (CNG) and liquefied petroleum gas (LPG), both of which offer lower carbon emissions than conventional fuels, providing a cleaner and more earth-friendly way to travel. For example, the International Energy Agency (IEA), an independent intergovernmental organisation based in France, reported that in 2024, electric car sales were up by 3.5 million from 2023, indicating an annual increase of 35%. Thus, the escalating acceptance of green vehicles is triggering an upswing in the CNG and LPG vehicle market.
Get Your CNG And LPG Vehicle Market Report Here:
https://www.thebusinessresearchcompany.com/report/cng-and-lpg-vehicle-global-market-report
How will the growth rate of the cng and lpg vehicle market shape industry trends by 2034?
Over the past few years, the CNG And LPG vehicle market has seen robust growth. A surge from $4.19 billion in 2024 to $4.57 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.1%, is expected. Factors contributing to this historic period growth include early adoption by public transit systems, government support through subsidies and incentives, heightened environmental consciousness, cooperative efforts within the industry, and dedicated research and development initiatives.
In the forthcoming years, the market size of CNG and LPG vehicles is predicted to experience robust expansion, reaching a valuation of $6.4 billion by 2029 with a compound annual growth rate (CAGR) of 8.7%. This growth during the forecast period is a consequence of stricter emission regulations, an increase in renewable energy integration, urbanization, challenges with congestion, a shift to sustainable mobility, and market expansion strategies. Key trends that are expected to emerge during this period include the rising adoption of biogas and bio-LPG, the incorporation of advanced vehicle technologies, the proliferating expansion of mobility-as-a-service (MaaS) solutions, development of next-generation infrastructure, and a shift towards circular economy models.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15146&type=smp
What are the most significant trends transforming the cng and lpg vehicle market today?
Leading entities in the CNG and LPG vehicle industry are adopting advanced twin-cylinder CNG technologies to optimize fuel efficacy and curtail emissions. The term twin-cylinder CNG technology pertains to a vehicle design that entails two distinct compressed natural gas (CNG) cylinders for fuel storage. For example, Tata Motors Limited, a renowned automotive corporation from India, introduced the Altroz iCNG, which is fitted with this avant-garde twin-cylinder CNG technology in May 2023. This ground-breaking product mitigates the primary issue of limited trunk space in CNG vehicles, thus providing a pragmatic, utilizable space for the owners. Additional features of the Altroz iCNG include leatherette seats, iRA-connected car technology, cruise control, and automatic headlamps.
Which primary segments of the cng and lpg vehicle market are driving growth and industry transformations?
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
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=15146
Which geographical regions are pioneering growth in the cng and lpg vehicle market?
Asia-Pacific was the largest region in the CNG and LPG vehicles market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the CNG and LPG vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the cng and lpg vehicle market landscape?
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.; 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
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=15146&type=smp
What Is Covered In The CNG And LPG Vehicle Global Market Report?
• Market Size Forecast: Examine the cng and lpg vehicle market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cng and lpg vehicle market for a structured understanding.
• Key Players Overview: Analyze major players in the cng and lpg vehicle market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cng and lpg vehicle market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cng and lpg vehicle market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cng and lpg vehicle market.
• Industry Challenges: Identify potential risks and obstacles affecting the cng and lpg vehicle market.
• Competitive Landscape: Review strategic developments in the cng and lpg vehicle market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Global CNG And LPG Vehicle Market Projected to Surpass $6.4 Billion by 2029 with 8.7% Annual Growth here
News-ID: 3906118 • Views: …
More Releases from The Business Research Company
Analysis of Key Market Segments Influencing the Extraterrestrial Legal Systems M …
Exploring the Future of Extraterrestrial Legal Systems
As humanity advances its presence beyond Earth, the need for specialized legal frameworks governing activities in outer space is becoming increasingly critical. The extraterrestrial legal systems market is set to expand rapidly, driven by the complexities of managing property rights, regulatory compliance, and dispute resolution in off-world environments. Let's delve into the anticipated market value, key players, significant trends, and the main segments shaping…
Emerging Growth Trends Driving Expansion in the Explosion Proof Cabins Market
The explosion proof cabins market is set to experience significant growth over the coming years, driven by increasing industrial safety demands and technological advancements. This market's evolution is shaped by emerging materials, innovative designs, and expanding applications, which all contribute to the rising adoption of explosion-resistant cabins in hazardous environments.
Forecast of the Explosion Proof Cabins Market Size by 2030
The explosion proof cabins market is projected to reach a value of…
Market Structure, Emerging Trends, and Key Player Analysis of the Electronic Pay …
The electronic payload fairing separation system market is poised for impressive expansion as innovations and technological advancements continue to reshape space launch operations. This report delves into the anticipated market size, key players, emerging trends, and segment classifications, offering a comprehensive overview of this specialized aerospace sector.
Projected Market Size and Growth Trajectory for Electronic Payload Fairing Separation Systems
The market for electronic payload fairing separation systems is forecasted to achieve substantial…
Leading Companies Fueling Growth and Innovation in the Dual Mode Microwave Seeke …
The dual mode microwave seeker market is positioned for significant expansion over the coming years, driven by a range of technological advancements and increasing defense requirements. This segment plays a crucial role in modern warfare and missile guidance, with innovation and integration shaping its future trajectory. Let's explore the current market size, key drivers, major players, and segmentation of this specialized industry.
Projected Market Growth for the Dual Mode Microwave Seeker…
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…
