Global CNG Vehicle Market Overview:
Compressed natural gas (CNG) vehicles operate much like gasoline- powered vehicles with spark- burned internal combustion machines. The machine functions the same way as a gasoline machine. Natural gas is stored in an energy tank, or cylinder, generally at the reverse of the vehicle. The CNG energy system transfers high- pressure gas from the energy tank through the energy lines, where a pressure controller reduces the pressure to a position compatible with the machine energy injection system. Eventually, the energy is introduced into the input manifold or combustion chamber, where it's mixed with air and also compressed and burned by a spark draw. CNG vehicles store natural gas in tanks where it remains in a gassy state under pressure. Further energy can be stored on board a vehicle using LNG because the energy is stored as a liquid, making its energy viscosity lesser than that of CNG.
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- Growing Need for Alternative Fuel in the Auto Industry for Emission Control, Fuel Efficiency, and Cost-Effectiveness
- High Cost of CNG Cars
- CNG Gas Stations have Limited Availability
- CNG Tank Requires Need Large Space and it is heavy for Automotive
- Growing Inclination towards Advanced Automotive Vehicles
- Government Investments on Environment-Friendly Fuels
- Claim For Diesel and Petrol Vehicles Owing To the Low Infrastructure of Alternative Fuel
Some of the key players profiled in the report are Volkswagen Group (Germany), Ford Motor Company (United States), Suzuki Motor Corporation (Japan), Renaults (France), Volvo Group (Sweden), General Motors (United States), Groupe PSA (France), Fiat Chrysler Automobiles (United Kingdom), Hyundai Motor Company (South Korea) and Daimler AG (Germany). Additionally, following companies can also be profiled that are part of our coverage like Honda Motor Co. Ltd., (Japan) and Toyota Motor Corporation (Japan). Analyst at AMA Research see Global Manufacturers to retain maximum share of Global CNG Vehicle market by 2027. Considering Market by Vehicle, the sub-segment i.e. Heavy Duty Vehicles will boost the CNG Vehicle market. Considering Market by Stations, the sub-segment i.e. Time-fill will boost the CNG Vehicle market. Considering Market by CNG Kits, the sub-segment i.e. Venturi CNG will boost the CNG Vehicle market.
Latest Market Insights:
In 2022, Tata Motors has announced that its electric mobility unit has inked an agreement to potentially acquire Ford Motor's Sanand vehicle manufacturing installation in Gujarat.
In 2021, Maruti has endured a 31 rise in the deals of buses that are CNG powered in Uttar Pradesh, Haryana, Maharashtra, Gujarat, and Delhi for the presence of strong CNG structure in these countries. The vehicles which are offered with CNG power train include Celerio, WagonR, S- Presso, Eeco, Alto, and Ertiga.
What Can be Explored with the CNG Vehicle Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global CNG Vehicle Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in CNG Vehicle
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global CNG Vehicle market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in CNG Vehicle market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes CNG Vehicle System Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):Who are the top performing companies in CNG Vehicle Market?
Top performing companies in the Global CNG Vehicle market are Volkswagen Group (Germany), Ford Motor Company (United States), Suzuki Motor Corporation (Japan), Renaults (France), Volvo Group (Sweden), General Motors (United States), Groupe PSA (France), Fiat Chrysler Automobiles (United Kingdom), Hyundai Motor Company (South Korea) and Daimler AG (Germany), to name a few.What trending factors would impact CNG Vehicle Market growth most?
"Focus on Alternative Green Fuels
" is seen as one of major influencing trends for CNG Vehicle Market during projected period 2021-2027.Which segment holds the largest market share in CNG Vehicle market?
dominated the CNG Vehicle market. This is attributable to growing trend of "Focus on Alternative Green Fuels