Dedicated Fuel CNG vehicles are Anticipated to be the Most Favorable Product Type in CNG Vehicles Market

Posted on 2019-06-17 by Mark Hub in Automotive // 0 Comments

Rockville, USA, 2019-Jun-17 — /EPR Network/ —

Fact.MR delivers key insights on the CNG vehicle market in its published report, titled “CNG vehicles: Industry Analysis and Opportunity Assessment, 2018–2027”. In terms of revenue, the CNG vehicle market is estimated to expand at a CAGR of 3.2% over the forecast period, owing to the numerous factors, about which FACT.MR offers thorough insights and forecasts in this report. The current growth trend of the CNG vehicles market has prominently influenced by the increasing air pollutions due to fuel emissions across all the regions of the globe. Advancement in autonomous technology amalgamate innovations in the automobile fuel systems, and NGVs (Natural Gas Vehicles) have become a tool for a consumer as well as a marketer to reduce and suppress fuel emission which are likely to boost the CNG vehicle market.

It becomes imperative to deduce that indigenous capacity to produce natural gas vehicles has empowered large scale make over to gaseous fuel. The bus industry is gradually adapting and indigenizing the technology quickly. On the other hand, though car industry has been slow to respond, the industry has started to show interest in product diversification. This has been fueled largely by the rising consumer interest in CNG cars and augmentation in aftermarket conversion.

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In the interest of pollution abatement strategy and long term investments, manufacturers are vying to choose a technology approach that will be efficacious with respect to both PM and NOx reduction potential. Nevertheless, PM emissions benefits of CNG technology have already been proven for stoichiometric and lean burn, NOx emissions reduction capability of the two technology approaches can vary.

According to the study, CNG vehicles fleet rose to 18 per cent in 2018 across the globe. The growing support of governments on curbing fuel emissions and encouraging natural gas powered vehicle production are expected to further the growth of CNG Vehicles Market.

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To provide in-depth insights into the pattern of demand for the CNG vehicle market, the market is segmented on the basis of vehicle. It includes passenger vehicles and commercial vehicles. The passenger segment is expected to dominate the CNG vehicle market over the forecast period, in terms of value, which accounted for more than 45% value share in 2027.

APEJ Region Critical in the CNG vehicle Market

The APEJ region is estimated to account for more than 30% market share in the Global CNG vehicle market in 2018, and this share is expected to grow by a massive rate, causing the APEJ market to grab more than 40% market share by the end of 2027. This highly populous continent is spearheaded by the rapid economic growth and increase in the adoption of CNG vehicles on a large scale to fuel up the growth for CNG vehicle in Indian and Chinese countries, and customers in these countries will continue to demand the maximum CNG vehicle.

Global CNG vehicle Market: Competition Dashboard

Fact.MR has profiled some of the most prominent company’s active in the global CNG vehicle market such as Ford Motor Company, Fiat Chrysler Automobiles, General Motors, Honda Motor Company, Volkswagen, Hyundai Motor Group, Suzuki Motor Corporation, Great Wall Motors, Iran Khodro, and others. Some of the aftermarket players in the CNG Vehicle market are Landi Renzo, Impco, Venchurs, Westport, Tomasetoo Achile, and others. The key market players in the CNG vehicle market are focusing on product development and collaboration. Vendors in the CNG vehicle market are focusing on developing engine efficiency that can meet the changing customer requirements.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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