The "Natural Gas Vehicles (NGVs) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Natural Gas Vehicles (NGVs) estimated at 23.2 Million Units in the year 2020, is projected to reach a revised size of 34.7 Million Units by 2027, growing at a CAGR of 5.9% over the analysis period 2020-2027.
Light Duty Vehicles, one of the segments analyzed in the report, is projected to record a 6.1% CAGR and reach 31.9 Million Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Medium & Heavy Duty Trucks segment is readjusted to a revised 5.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at 160.7 Thousand Units, While China is Forecast to Grow at 6.6% CAGR
The Natural Gas Vehicles (NGVs) market in the U.S. is estimated at 160.7 Thousand Units in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of 7.9 Million Units by the year 2027 trailing a CAGR of 6.6% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.
Medium & Heavy Duty Buses Segment to Record 4.3% CAGR
In the global Medium & Heavy Duty Buses segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of 337.4 Thousand Units in the year 2020 will reach a projected size of 452.9 Thousand Units by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 9.4 Million Units by the year 2027, while Latin America will expand at a 4.4% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Natural Gas Vehicles (NGVs) - Global Key Competitors Percentage Market Share in 2022 (E)
- Difficult to Reduce Carbon Footprint of the Automotive Industry Shifts Focus to Alternate Fuel Vehicles
- Inability of Conventional ICE Powered Vehicles to Demonstrate Desired Reductions in CO2 Emissions to Drive the Focus on Alternative Fuel Vehicles
- The Automotive Industry
- Clean Technologies
- A Strong Rebound in Clean Technologies Brings Good News for NGVs
- Natural Gas Vehicles (NGVs) - Definition & Scope
- Recent Market Activity
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS (Total 55 Featured)
- AB Volvo
- Bajaj Auto Limited
- Bayerische Motoren Werke AG
- CNH Industrial N.V.
- Daimler AG
- Dongfeng Motor Corporation
- Ford Motor Company
- General Motors Company
- Landi Renzo S.p.A.
- Opel Automobile GmbH
- PACCAR Inc.
- Tata Motors Limited
3. MARKET TRENDS & DRIVERS
- Growing Global Focus on Decarbonizing the World Offers Attractive Opportunities for NGVs in Decarbonizing the Transportation Sector
- Stringent Vehicular Emission Norms Throws the Focus Squarely on NGVs
- A Review of Environmental & Emission Norms Legislated Till Date
- With Transportation Accounting for Close to 23.2% of Global GHG Emissions, the Time is Ripe for the Adoption of an Integrated Approach Towards Reducing CO2 Involving NGVs: Global CO2 Emissions (In Billion Metric Tons) for the Year 2021
- Post COVID-19 Focus on Sustainability Will Drive NGV Adoption in Creating a Cleaner & Greener Transportation Industry
- Here's Why the Environment & Sustainability Will be Top Priorities After the Pandemic
- Compliance Standards for Reducing Emissions from Vehicles to Become Stricter, Post Pandemic Global GHG Emissions from Transportation (In Billion Tons of CO2) for the Year 2021
- How NGVs Can Help Address the Sustainability Challenge?
- Cost Benefits, Environmental Motives and Government Incentives Catalyze Adoption Rates of NGVs
- Commercial Vehicle Fleet Owners Adopt NGVs to Meet Carbon Footprint Goals & Drive Profits Through Higher Fuel Economy
- Rising Popularity of EVs. What Does it Mean for NGVs
- Global EV Market Outlook
- Growing Number of EVs On Road, Will It Dislodge Technology Investments in NGVs
- NGVs Will Continue to Have a Future Alongside EVs, Here's Why?
- Initiatives Undertaken for the Development of Fueling Infrastructure Spurs NGV Penetration
- Bio-CNG Vehicles Emerge to Counter the Methane Emission Threat Posed by NGVs
- Cost Pressures in the Logistics Industry Spurs Market Opportunities for Natural Gas as a Cost Effective Alternate Fuel
- Focus on Road Infrastructure Development Post Pandemic to Ensure Sustained Growth of NGVs in Road Freight Transportation
- Continuous Development of World's Highways to Expand Market Opportunities for Commercial Vehicle NGVs
- Natural Gas Market Outlook
- How Shale Gas Revolution Has Lowered Natural Gas Prices?
- Despite the Strengthening of Prices Post 2020 Crisis, Natural Gas Still Remains Cheap
- Growing Competition from Liquid Biofuels Pose a Challenge to Market Prospects
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
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