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Executive Analysis of Global LPG/CNG Vehicles Market
Frost & Sullivan, July 2010, Pages: 33
This study covers the LPG/CNG market across the globe, examining drivers and restraints for growth, legislation and demand. Following from these scenario analyses for the LPG and CNG market individually has been performed. In addition, market share of key suppliers of conversion kits to the after-market are also provided. Further, an in depth view of Original Equipment Manufacturers' positions (OEMs) is performed and the market share of these OEMs are also given. The base year is 2009 with forecasts running through 2016.
This Frost & Sullivan research service titled Executive Analysis of Global LPG/CNG Vehicles Market provides a detailed evaluation of the global market potential for liquefied petroleum gas/compressed natural gas (LPG/CNG)-powered passenger cars. This research service identifies key market trends, legislative trends, market drivers, restraints and industry challenges for LPG/CNG-powered passenger cars in the global markets. In this research, Frost & Sullivan's expert analysts thoroughly examine the following the following vehicle technologies: LPG and CNG.
The Focus on Stringent Emission Norms by the Government Boosts the Global LPG/CNG Vehicles Market
Stringent carbon dioxide (CO2) emission norms, government regulations and ecological standards will be the key drivers for the growth of LPG/CNG vehicles in developed countries, particularly in the European Union (EU). CNG vehicles are expected to experience significant growth in the coming years in Europe, while LPG vehicles will remain a competitive option due to the incentives by the EU countries because of lobbying by the oil companies. “The Turkish and Polish markets will be significant for LPG growth in the coming years,” says the analyst of this research. “Italy is set to remain the largest market for LPG/CNG car sales followed by Iran and India by 2016.”
Cost savings of an average of 50 per cent compared to petrol/diesel vehicles will further drive growth in the global LPG/CNG vehicles market. While India is poised to be the undisputed leader for LPG and CNG car sales, the Iranian market for CNG vehicles has one of the highest sales of CNG vehicles in the world. These sales are encouraged by strong governmental regulations.
However, a major challenge for this market is insufficient CNG and LPG service stations infrastructure and a poor refuelling station network. “Additionally, there is a lack of understanding of the benefits of LPG/CNG by the global population,” explains the analyst. International government bodies, original equipment manufacturers (OEMs), suppliers in the market and fuel companies should work together to develop refuelling infrastructure, facilitating LPG/CNG vehicle sales. “Fuel companies will be the key participants in the LPG/CNG market value chain and their response to reducing GHG emissions will be important,” concludes the analyst. “LPG and CNG will greatly help in reducing fleet emissions.”
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