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Market Snapshot

CAGR:9.37

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	9.37

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Report Overview

Automotive Natural Gas Market Analysis Report 2023-2032

The Automotive Natural Gas Market is poised to experience a Compound Annual Growth Rate (CAGR) of 6.95% between 2022 and 2032. Over this period, the market size is expected to witness a substantial increase of USD 4,320.87 million. The growth of this market is driven by a combination of factors, including the growing emphasis on sustainable and eco-friendly transportation, rising concerns over greenhouse gas emissions, and advancements in natural gas vehicle (NGV) technology. The market encompasses various components and services related to natural gas-powered vehicles, offering an alternative fuel solution for the automotive industry.

Automotive Natural Gas Market Overview

Drivers

A key driver behind the expansion of the Automotive Natural Gas Market is the global shift towards sustainable and environmentally friendly transportation solutions. Natural gas is considered a cleaner alternative to traditional gasoline and diesel fuels, with lower emissions of greenhouse gases and pollutants. This environmentally conscious approach has led to an increased adoption of natural gas as a vehicular fuel.

Furthermore, stringent regulations aimed at reducing carbon emissions and promoting clean energy solutions are significantly driving market growth. Governments around the world are implementing policies and incentives to encourage the adoption of NGVs, thereby reducing the environmental impact of the automotive sector.

Trends

An important trend shaping the Automotive Natural Gas Market is the ongoing technological advancements in NGVs. These vehicles are becoming more fuel-efficient and cost-effective, making them a viable choice for consumers. Innovations in natural gas engine design, fuel storage, and distribution infrastructure are helping to overcome some of the historical limitations associated with NGVs.

Additionally, the market is witnessing a trend towards the expansion of natural gas refueling infrastructure. With an increasing number of refueling stations, consumers and businesses are more inclined to adopt NGVs. This trend is particularly prominent in regions with strong support for natural gas as a vehicular fuel.

Restraints

One of the primary challenges for the Automotive Natural Gas Market is the limited availability of natural gas refueling infrastructure in some regions. The growth of NGVs is closely linked to the accessibility of refueling stations, and areas with insufficient infrastructure may see slower adoption rates.

Moreover, the initial investment required to transition to NGVs or retrofit existing vehicles to run on natural gas can be a restraint to market growth. While the long-term cost savings and environmental benefits are significant, the upfront capital expenditure may deter some potential consumers and businesses.

Automotive Natural Gas Market Segmentation By Vehicle Type

The Automotive Natural Gas Market comprises various vehicle types that can be powered by natural gas:

Passenger Cars: Natural gas-powered cars are increasingly popular among environmentally conscious consumers looking for a cleaner alternative to traditional gasoline vehicles.
Commercial Vehicles: This category includes trucks, buses, and other commercial fleet vehicles, where NGVs are valued for their cost-efficiency and reduced emissions.

Automotive Natural Gas Market Segmentation By Component

The market encompasses various components and services related to NGVs:

Natural Gas Storage and Fueling Systems: These components include high-pressure fuel tanks, fueling nozzles, and onboard fuel storage systems.
Natural Gas Engine and Conversion Kits: NGV engines and conversion kits for retrofitting existing vehicles to run on natural gas.

Regional Overview:

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The Asia-Pacific (APAC) region is anticipated to be a key driver of global Automotive Natural Gas Market growth. APAC economies are experiencing rapid industrialization and urbanization, resulting in increased demand for commercial vehicles. As environmental concerns rise, the region is likely to witness a surge in NGV adoption.

The market experienced a temporary slowdown during the COVID-19 pandemic as immediate health and economic challenges took precedence. However, the focus on sustainability and clean energy solutions is likely to drive renewed momentum in the post-pandemic era. Governments and businesses are expected to prioritize natural gas as a vehicular fuel to reduce carbon emissions.

Automotive Natural Gas Market Customer Landscape

The Automotive Natural Gas Market report offers insights into customer adoption patterns, ranging from early adopters to laggards. It examines adoption rates across different regions based on market penetration levels. Moreover, the report delves into key criteria influencing purchase decisions, including cost savings, environmental impact, and refueling infrastructure availability. These insights assist companies in devising effective strategies for market entry and growth.

Major Automotive Natural Gas Market Companies

Prominent players in the Automotive Natural Gas Market are implementing diverse strategies to strengthen their market presence. These strategies include technological innovations, process enhancements, strategic collaborations, mergers and acquisitions, and geographic expansion.

Sample list of major companies in the market:

Westport Fuel Systems
Landi Renzo
Clean Energy Fuels
Agility Fuel Solutions
Chart Industries

Qualitative and quantitative analyses of these companies offer valuable insights into the competitive landscape. This analysis enables stakeholders to understand market dynamics and assess the strengths and weaknesses of key players. The categorization of companies based on their market focus and influence provides a comprehensive view of the competitive environment.

Segment Overview

The Automotive Natural Gas Market report provides revenue forecasts on a global, regional, and country level. It also includes an analysis of emerging trends and growth opportunities spanning from 2019 to 2032.

Vehicle Type Outlook (USD Million, 2019 - 2032)

Passenger Cars
Commercial Vehicles
Others

Component Outlook (USD Million, 2019 - 2032)

Natural Gas Storage and Fueling Systems
Natural Gas Engine and Conversion Kits
Others

Geography Outlook (USD Million, 2019 - 2032)

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

APAC

China
Japan
India
Rest of APAC

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Automotive Natural Gas MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Automotive Natural Gas MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Automotive Natural Gas Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Automotive Natural Gas MARKET BY fuel type SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 CNG

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 LNG

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Automotive Natural Gas MARKET BY Vehicle type INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 Medium Duty

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 Heavy Duty

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Automotive Natural Gas MARKET REGIONAL OUTLOOK

7.1. Automotive Natural Gas Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Automotive Natural Gas Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Automotive Natural Gas Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Automotive Natural Gas Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Automotive Natural Gas Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Automotive Natural Gas Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Dongfeng Motors Group Limited

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 AB Volvo

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Beiqi Foton Motors Group Limited

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Shaanxi Automobile Group Company Limited

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 Daimler AG

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 CNH Industrial(Iveco)

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Company 7

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Company 8

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Company 9

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiativesn

9.10 Company 10

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Automotive Natural Gas Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032