The Global CNG Vehicles Market is expected to exhibit a strong 5.96% CAGR over the forecast period from 2018 to 2025, according to the latest research report from Market Research Future (MRFR). The global CNG vehicles market is expected to reach a valuation of USD 185,422.3 million by 2025, according to the report.
The report presents a detailed overview of the global CNG vehicles market to give readers an accurate insight into the growth prospects of the market. The major drivers and restraints affecting the global CNG vehicles market are profiled in detail in the report. Major players operating in the global CNG vehicles market are also profiled in detail in the report. The impact of the COVID-19 pandemic on the global CNG vehicles market is also assessed in the report.
CNG vehicles are vehicles that run on compressed natural gas. Growing awareness about the various benefits of CNG as compared to petroleum is the major driver for the global CNG vehicles market. CNG burns cleaner than petrol or diesel, releasing fewer carbon emissions and other toxic emissions. This has become a major driver for the global CNG vehicles market over the last few years. The environmental impact of vehicles has become a major watchword for automotive industry players, as automotive emissions account for a considerable part of the global total of environmentally damaging emissions. Due to this, fuels that burn cleanly and emit less toxic emissions are becoming popular in automobiles. This is likely to be a major driver for the global CNG vehicles market over the forecast period.
Top Companies profiled in CNG Vehicles Market Research Report:
Suzuki Motor Corporation, Renault, Honda Motor Co. Ltd., Volvo Group, Groupe PSA, Fiat Chrysler Automobiles, Toyota Motor Corporation, Daimler AG, Hyundai Motor Company, Ford Motor Company, General Motors, and Volkswagen Group.
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Segmentation:
- By product type, the global CNG vehicles market is segmented into OEM and car modification. Both segments are expected to grow steadily over the forecast period. Many automotive manufacturers have made it a key point to produce CNG vehicles in order to cater to the growing demand from consumers. The car modification segment is also expected to grow over the forecast period due to the growing number of personal as well as commercial consumers retrofitting their vehicles with CNG fuel technology. The ease of retrofitting vehicles with CNG fuel technology has become a major driver for the global CNG vehicles market.
- By application, the global CNG vehicles market is segmented into personal use and commercial use. The personal use segment holds the largest share in the global CNG vehicles market and is likely to remain dominant over the forecast period. Personal consumers are more aware about the benefits of CNG over petrol and diesel and are thus increasingly opting for CNG vehicles over gasoline/diesel vehicles. Commercial vehicles are also likely to account for a significant share in the global CNG vehicles market over the forecast period.
Regional Analysis:
Emerging regions such as Asia Pacific, Latin America, and the Middle East have exhibited steady growth in the global CNG vehicles market over the last few years and are likely to remain important regional markets over the forecast period.
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Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- CNG vehicles Market Segmentation
- CNG vehicles Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
- Financial Data
More…
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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As per Market Research Future (MRFR), the global CNG vehicles market is expected to register a compound annual growth rate of 5.96% between 2018 and 2025 (forecast period).
The study discusses and investigates the effects of the outbreak of COVID-19 on the global CNG vehicles industry, including potential opportunities and challenges, drivers, and risks.
The study explains the impacts of COVID-19 on the global CNG vehicles market and predicts market growth based on various scenarios.A compressed natural gas vehicle is an alternative fuel vehicle that uses compressed natural gas instead of gasoline or diesel.
CNG or compressed natural gas is stored at a high pressure of between 3,000 and 3,600 pounds per square inch (21 to 25 MPa).
Generally, there is less fuel wasted.
CNG Vehicles Market@ http://heraldkeeper.com/featured/cng-vehicles-market-insights-2020-business-opportunity-future-scope-rising-demand-by-top-vendors-suzuki-motor-corporation-renault-594354.html Key PlayersNotable players in the global CNG vehicles market are Volkswagen Group, General Motors, Ford Motor Company, Hyundai Motor Company, Daimler AG, Toyota Motor Corporation, Fiat Chrysler Automobiles, Groupe PSA, Volvo Group, Honda Motor Co. Ltd., Renault, and Suzuki Motor Corporation.The global CNG vehicles market consists of a few well-established vendors.
The global CNG & LPG Vehicles market was valued at million US$ in 2018 and will reach million US$ by the end of 2025, growing at a CAGR of during 2019–2025.This report focuses on CNG & LPG Vehicles volume and value at global level, regional level and company level.
From a global perspective, this report represents overall CNG & LPG Vehicles market size by analyzing historical data and future prospect.Regionally, this report categorizes the production, apparent consumption, export and import of CNG & LPG Vehicles in North America, Europe, China, Japan, Southeast Asia and India.Report Sample includes:- Table of Contents- List of Tables & Figures- Charts- Research MethodologyGet FREE Sample of this Report at https://www.24marketreports.com/report-sample/global-cng-lpg-vehicles-2019-701For each manufacturer covered, this report analyzes their CNG & LPG Vehicles manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.The following manufacturers are covered:FiatHyundaiSuzukiVolkswagenFordGeneral MotorsHondaNissanNavistarTataSegment by RegionsNorth AmericaEuropeChinaJapanSoutheast AsiaIndiaSegment by TypeCNGLPGSegment by ApplicationPassenger VehiclesLight Commercial VehiclesOtherGet the Complete Report & TOC at https://www.24marketreports.com/automotive-and-transportation/global-cng-lpg-vehicles-2019-701CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/24-market-reports
According to recent Fact.MR study, the CNG Vehicles market will grow at 3.2% during 2018-2027 period.
The Fact.MR study largely attributes the projected growth to technological advancements in manufacturing techniques, and rising demand for products in the sector.An Expert Perspective According to Fact.MR experts, the growth of CNG Vehicles factors will remain key drivers to growth of the CNG Vehicles market.
Moreover, the rising demand for segment remains a prominent opportunity for growth during the forecast period.
A Real Insight Fact.MR promises to ready new investors in the world of digital age with information from key stakeholders in the industry, objective forecasts, and independent analysis of a wide range of viewpoints.
The company leverages information from key stakeholders of information including World Bank, the UNO, WHO, among others to tackle challenges of investing with due diligence, and reliability.
Request to View Sample of Report @ https://www.factmr.com/connectus/sample?flag=S_id=2537An Apt Forecast For the CNG Vehicles market, Fact.MR has considered 2014 as the base year for projections, while 2019-2029 period as the forecast period.
