Press release
Automotive Natural Gas Vehicle (NGV) Market valued at USD 15.9 billion in 2024 and is projected to reach USD 21.8 billion by 2030, growing at a CAGR of 5.3%
Automotive Natural Gas Vehicle (NGV) Market
The Automotive Natural Gas Vehicle (NGV) Market is growing steadily as global transportation systems move toward cleaner and cost-effective alternatives to gasoline and diesel. Natural gas vehicles-powered by compressed natural gas (CNG) or liquefied natural gas (LNG)-offer significantly lower emissions, reduced fuel costs, and compatibility with existing internal combustion engine technologies.
The global market is valued at USD 15.9 billion in 2024 and is projected to reach USD 21.8 billion by 2030, growing at a CAGR of 5.3% during 2024-2030. Growth is driven by rising adoption of CNG passenger cars, LNG-based heavy commercial vehicles, government incentives, and increasing expansion of natural gas distribution networks.
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Market Growth (2024-2030)
• Market Size 2024: USD 15.9 billion
• Market Size 2030: USD 21.8 billion
• CAGR: 5.3%
Asia-Pacific, particularly India, China, Pakistan, and Thailand, remains the dominant NGV market due to strong CNG infrastructure and supportive policies.
Key Market Drivers
• Rising emphasis on low-emission transportation
• Lower fuel cost of CNG/LNG compared to gasoline and diesel
• Strong government incentives and emissions regulations
• Increased adoption in public transport, logistics, and last-mile delivery
• Expansion of natural gas distribution pipelines and filling stations
• Growing preference for dual-fuel and bi-fuel NGVs
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Market Segmentation
By Fuel Type
• CNG (Compressed Natural Gas)
• LNG (Liquefied Natural Gas)
• RNG / Bio-CNG (Renewable Natural Gas)
By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)
• Buses & Coaches
• Three-Wheelers & Auto Rickshaws
• Fleet & Utility Vehicles
By Drive Type
• Dedicated NGVs
• Bi-Fuel NGVs (Petrol + CNG)
• Dual-Fuel NGVs (Diesel + CNG)
By Application
• Personal Mobility
• Public Transportation
• Industrial & Commercial Transportation
• Municipal & Waste Management Fleets
• Long-Haul & Logistics
By End User
• Individual Consumers
• Government & Public Transport Authorities
• Private Transport Operators
• Logistics & Fleet Operators
By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Key Market Trends
• Growing shift from diesel to LNG-powered heavy commercial vehicles
• Expansion of renewable natural gas (Bio-CNG) production for carbon-neutral transport
• Increased investment in fast-fill and smart CNG station infrastructure
• Manufacturers launching factory-fitted CNG vehicles with improved fuel efficiency
• Advancements in CNG cylinder materials (Type 3 & Type 4 composite cylinders) for weight reduction
• Integration of NGV solutions in urban bus electrification-hybrid models
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Competitive Landscape
Key players operating in the Automotive Natural Gas Vehicle Market include:
• Fiat Chrysler Automobiles (Stellantis)
• Volkswagen Group
• Ford Motor Company
• Hyundai Motor Company
• Honda Motor Co.
• Tata Motors
• Maruti Suzuki
• Volvo Trucks
• CNH Industrial (Iveco)
• Dongfeng Motors
Supporting ecosystem suppliers include CNG cylinder manufacturers, LNG tank makers, fuel system integrators, and gas infrastructure providers.
Recent Developments
• Launch of next-gen factory-fitted CNG passenger cars by major OEMs in India and Europe
• Rapid deployment of LNG fueling corridors for long-haul trucking across China and the EU
• Strategic collaborations between energy companies and OEMs to scale Bio-CNG mobility
• Growth in dual-fuel retrofitting solutions for diesel commercial vehicles
• Introduction of lightweight composite CNG cylinders for higher storage efficiency
• Government-driven adoption of CNG buses and clean city fleets in emerging economies
This report is also available in the following languages : Japanese (自動車用天然ガス車市場), Korean (자동차 천연가스 차량 시장), Chinese (汽车天然气汽车市场), French (Marché des véhicules au gaz naturel), German (Automobilmarkt für Erdgasfahrzeuge), and Italian (Mercato dei veicoli a gas naturale per autoveicoli), etc.
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