Global Automotive Natural Gas Vehicle Market, 2016–2024
An alternative fuel vehicle that utilizes liquefied natural gas or natural gas as a cleaner alternative to other fossil fuels is known as a natural gas vehicle.
An alternative fuel vehicle that utilizes liquefied natural gas or natural gas as a cleaner alternative to other fossil fuels is known as a natural gas vehicle.
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Published By:Zion <strong>Market</strong> Research<br />
<strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong>: <strong>Global</strong> Industry Analysis, Size,<br />
Share, Growth, Trends, and Forecasts <strong>2016–2024</strong><br />
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<strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong><br />
Zion <strong>Market</strong> Research, the market research group announced the analysis report titled ‘<strong>Automotive</strong><br />
<strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong>: <strong>Global</strong> Industry Analysis, Size, Share, Growth, Trends, and<br />
Forecasts <strong>2016–2024</strong>’<br />
<strong>Global</strong> <strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong>: Overview<br />
An alternative fuel vehicle that utilizes liquefied natural gas or natural gas as a cleaner alternative to<br />
other fossil fuels is known as a natural gas vehicle. <strong>Vehicle</strong>s powered by propane possess<br />
fundamentally different composition and are different from natural gas vehicles. As crude oil reserves<br />
are rapidly depleting, many developing nations extensively depend on foreign countries for oil<br />
export. Owing to this, governments are focusing on controlling their export spending, which results in<br />
high demand for abundantly and inexpensively available natural gas. <strong>Natural</strong> gas is considered<br />
environment-friendly and leads to the economic growth of the country.<br />
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<strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong><br />
<strong>Global</strong> <strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong>: Growth Factors<br />
Various initiatives are taken by the governments to encourage the use of natural gas; this is<br />
anticipated to contribute to the global automotive natural gas vehicle market growth in the near<br />
future. In addition, companies are highly investing in the renewable sources such as natural gas as the<br />
cleaner alternative for fuel, which has created ample opportunities for the global market. <strong>Vehicle</strong><br />
owners are focusing on the acceptance of the environment-friendly and cleaner source of fuel at low<br />
cost leading to the enormous increase in the demand for automotive natural gas vehicle globally.<br />
<strong>Natural</strong> gas also offers various advantages whereas liquefied natural gas and compressed natural gas<br />
are produced from it providing many environmental benefits to consumers. This is expected to fuel<br />
the global market growth in future.<br />
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<strong>Global</strong> <strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong>: Segmentation<br />
The global automotive natural gas vehicle market is categorized based on vehicle type as commercial<br />
and passenger. On the basis of fuel type, the global market is classified as liquefied natural gas and<br />
compressed natural gas. Furthermore, the automotive natural gas vehicle market is segregated based<br />
on geography as Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa.
<strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong><br />
<strong>Global</strong> <strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong>: Regional Analysis<br />
Asia Pacific is the dominating region for automotive natural gas vehicle market as it accounted for<br />
the largest market share. Latin America comes second in the global ranking, as almost all vehicles in<br />
this region have bio-fuel engines that allow vehicles to run on either gasoline or CNG. Use of natural<br />
gas vehicles provides fuel efficiency and significant savings over the life of the vehicle boosting the<br />
global market growth in North America. The automotive natural gas vehicle is costly due to the cost<br />
of installation high-pressure insulated fuel tank, which facilitates fuel extraction from CNG or LPG.<br />
The emission from of the automotive natural gas vehicle is comparatively lower than diesel and<br />
gasoline counterparts. This will help in reduction of dangerous pollutants such as nitrogen gas, nonmethane<br />
organic gas, carbon monoxide, and carbon dioxide and result in rising demand for<br />
automotive natural gas vehicle in the Middle East and Africa.<br />
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<strong>Global</strong> <strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong>: Competitive Players<br />
Major players in the global automotive natural gas vehicle market are Volkswagen AG, Isuzu Motors<br />
Ltd., Suzuki Motor Corporation Ltd., Caterpillar Inc., and Honda Motor Company Ltd. Other players<br />
include AB Volvo, Ford Motor Company, General Motors Company, Toyota Motor Corporation, and<br />
Renault SA.
<strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong><br />
<strong>Global</strong> <strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong> by Geographical Analysis: North America(<br />
U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil),<br />
Middle East and Africa<br />
Our value reports provide full, in-depth analysis of the parent market including most significant<br />
changes in market dynamics; the report also presents a detailed overview on segmentation of this<br />
market. We managed to present as many important information in essential form – thanks to our<br />
report You will learn more about former, on-going, and projected market analysis in terms of volume<br />
and value, assessment of niche industry developments and <strong>Market</strong> share analysis. We have not<br />
forgotten to present key strategies for major players, emerging segments and regional markets and<br />
last but not least, testimonials to companies in order to fortify their foothold in the market.<br />
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<strong>Automotive</strong> <strong>Natural</strong> <strong>Gas</strong> <strong>Vehicle</strong> <strong>Market</strong><br />
Zion <strong>Market</strong> Research<br />
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