The CNG vehicles market is anticipated to grow by US$347.25 billion by 2032. rapidly growing at a CAGR of 14.72% during the forecast period. The global CNG vehicles market is driven by clean technology adoption as well as demand for dual fuel systems in vehicles. These factors have helped shape the CNG vehicles market and are expected to boost the growth. Companies in the CNG vehicles market could also face challenges such as lack of infrastructure in some countries as well as high maintenance cost. The details covered in the CNG vehicles market report cover all the aspects of the industry. Analysts studying the CNG vehicles market have also shared growth projections in the report and have suggested CNG vehicles market players to plan business strategies accordingly.
Market Segmentation
The global CNG vehicles market has been
segmented based on application and product type. On the basis of application,
the market for CNG vehicles is segmented based on OEM and car modification.
Additionally, the market on the basis of products, is segmented into personal
use and commercial use.
Factors like affordability as well as
increasing price of petrol and diesel support the CNG vehicles market growth.
The performance of CNG vehicles market has also been studied for the past and
current years. Additionally, the CNG vehicles market report provides analysis
of these segments. The CNG vehicles market segmental analysis provided in the
report offers major details about the CNG vehicles market based on the data and
forecasts till 2025.
Regional Overview
Companies in the CNG vehicles market are
spread across the world. The CNG vehicles market report provides major
information about regional markets of North America, Europe, Asia-Pacific
(APAC), and the rest of the world. The North American CNG vehicles market has
many companies across the United States, Canada, and Mexico. The CNG vehicles
market of the Middle East, Africa, and other regions has also been studied by
analysts. The regional analysis of the CNG vehicles market can be found in the
market research report. Europe has companies in the CNG vehicles market across
Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of
the CNG vehicles market across India, China, and Japan in the Asia-Pacific
region is also presented in the report.
Competitive Landscape
The CNG vehicles market is supported by low
pollution and minimum environmental effect. The population growth around the
world and increasing demand of CNG vehicles market based services and products
also support the market growth. However, the CNG
vehicles market size growth can be affected due to concerns regarding safe
handling as well as high cost of initial setup. The report covers all such
details which will help companies in the CNG vehicles market to strengthen
their business plan and improve their product portfolio.
The CNG vehicles market research report
also provides company profiles of major companies. The company profiles of many
organizations operating in the CNG vehicles market report highlights crucial
details like company size, revenue growth, and details of mergers and acquisitions
taking place in the CNG vehicles market. New companies and established
businesses can plan their strategies based on this data provided in the CNG
vehicles market research report.
Industry News
Maharashtra Natural Gas Ltd (MNGL) will
introduce remote CNG refueling stations in India, as per the company's senior
official. MNGL is a partnership between Bharat Petroleum Corporation Ltd and
GAIL. Study is currently under way on mobile CNG refueling modules, said MNGL
Director Rajesh Pande. He mentioned that the government will start such
refueling pumps in Maharashtra over the next six months.
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