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Natural Gas Vehicles (NGVs) - Global Market Trajectory & Analytics

  • ID: 338421
  • Report
  • July 2020
  • Region: Global
  • 187 Pages
  • Global Industry Analysts, Inc
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Global Natural Gas Vehicles (NGVs) Market to Reach $42.7 Million by 2027

Amid the COVID-19 crisis, the global market for Natural Gas Vehicles (NGVs) estimated at US$27.2 Million in the year 2020, is projected to reach a revised size of US$42.7 Million by 2027, growing at a CAGR of 6.7% over the analysis period 2020-2027. Light Duty Vehicles, one of the segments analyzed in the report, is projected to record a 6.8% CAGR and reach US$39.2 Million 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 6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $7.4 Million, While China is Forecast to Grow at 10.2% CAGR

The Natural Gas Vehicles (NGVs) market in the U.S. is estimated at US$7.4 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.3 Million by the year 2027 trailing a CAGR of 10.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.

Medium & Heavy Duty Buses Segment to Record 5.2% CAGR

In the global Medium & Heavy Duty Buses segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1 Million in the year 2020 will reach a projected size of US$1.4 Million 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 US$5.8 Million by the year 2027, while Latin America will expand at a 6.4% CAGR through the analysis period. We bring years of research experience to this 18th edition of our report. The 187-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:
  • AB Volvo
  • Agility Fuel Solutions LLC
  • Alexander Dennis Limited
  • Altech-Eco Corp.
  • Autocar, LLC
  • Clean Air Power Limited
  • Cummins, Inc.
  • Daimler AG
  • Ford Motor Company
  • General Motors Company
  • GILLIG, LLC
  • Isuzu Motors Ltd.
  • Iveco Bus
  • MAN SE
  • Maruti Suzuki India Limited
  • Quantum Fuel Systems LLC
  • Venchurs Vehicle Systems
  • Volkswagen AG
  • Westport Fuel Systems Inc.
  • Worthington Industries

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Difficult to Reduce Carbon Footprint of the Automotive Industry Shifts Focus to Cleaner Technologies

Recent Market Activity

Growing Stringency of Vehicular Emission Norms Throws the Focus Squarely on NGVs

Emissions Regulations Landscape in Major Country/Region

Cost Benefits, Environmental Motives and Government Incentives Catalyze Adoption Rates in the Market

Enhanced Tax Sops to Fuel Growth and Encourage Infrastructure Development

CV Fleet Owners Adopt NGVs to Meet Corporate Carbon Footprint Goals & Achieve Higher Fuel Economy

Soft Oil Prices & the Resulting Narrowing of Cost Differentials Step Up the Competition Posed by Conventional Automobiles

Why Global Oil Prices Have Fallen?

What Does it Mean for the NGV Market?

Natural Gas Production & Pricing Scenario: A Review

Led by the U.S, Natural Gas Production Continues to Rise

Unlike Stable Prices in the U.S. & Europe, Prices in Asia Turn Volatile

Market Outlook

Global Competitor Market Shares

Natural Gas Vehicles (NGVs) Competitor Market Share Scenario Worldwide (in %): 2018 & 2029

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

NGV OEMs

AB Volvo (Sweden)

Alexander Dennis Limited (Scotland)

Autocar, LLC (USA)

Daimler AG (Germany)

Ford Motor Company (USA)

General Motors Company (USA)

GILLIG, LLC (USA)

Isuzu Motors Ltd. (Japan)

Iveco Bus (France)

MAN SE (Germany)

Maruti Suzuki India Limited (India)

Volkswagen AG (Germany)

Natural Gas Vehicles Component Manufacturers

Agility Fuel Systems (USA)

Altech-Eco Corp. (USA)

Clean Air Power Limited (UK)

Cummins, Inc. (USA)

Quantum Fuel Systems LLC (USA)

Venchurs Vehicle Systems (USA)

Westport Fuel Systems Inc. (USA)

Westport Innovations (Canada)

Worthington Industries (USA)

3. MARKET TRENDS & DRIVERS

EVs Cast a Long Shadow of Threat Across the NGV Market

Developing Markets Led by Asia-Pacific to Power Future Growth in the Market

Developed Markets Lay Low

Emerging Markets Use NGVs as a "Bridge" To a Cleaner Future

Initiatives Undertaken for the Development of Fueling Infrastructure Spurs NGV Penetration

NGV Methane Emissions & Methane Emissions from the Natural Gas Supply Chain Threaten to Erode Climatic Benefit

Rise of Bio-CNG Vehicles to Counter the Methane Emission Threat to Benefit NGVs

Adsorbent Natural Gas Vehicle Technology Promises Higher Density Fuel Storage and Easier Refueling for Light Duty Vehicles

Logistics & Public Transportation: The Largest Markets for NGVs

Expected Recovery in Global Trade Brightens the Outlook for NGVs in the Logistics Industry

Cost Pressures in the Logistics Industry Spurs Market Opportunities for Natural Gas as a Cost Effective Alternate Fuel

Development of Cross Continent and Cross Country Highway Network Bodes Well for NGVs in Road Freight Transportation

Natural Gas-Powered Bus Rapid Transit Services Ensure Mobility with Reduced Emissions

Retrofitted CNG Vehicles Expand Market Opportunities in the Aftermarket

Luxury Vehicles Adopt CNG to Meet Stringent EU CO2 Reduction Targets

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: Natural Gas Vehicles (NGVs) Global Market Estimates and Forecasts in US$ by Region/Country: 2020-2027
TABLE 2: Natural Gas Vehicles (NGVs) Global Retrospective Market Scenario in US$ by Region/Country: 2012-2019
TABLE 3: Natural Gas Vehicles (NGVs) Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027
TABLE 4: Light Duty Vehicles (Vehicle Type) World Market by Region/Country in US$: 2020 to 2027
TABLE 5: Light Duty Vehicles (Vehicle Type) Historic Market Analysis by Region/Country in US$: 2012 to 2019
TABLE 6: Light Duty Vehicles (Vehicle Type) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027
TABLE 7: Medium & Heavy Duty Trucks (Vehicle Type) Potential Growth Markets Worldwide in US$: 2020 to 2027
TABLE 8: Medium & Heavy Duty Trucks (Vehicle Type) Historic Market Perspective by Region/Country in US$: 2012 to 2019
TABLE 9: Medium & Heavy Duty Trucks (Vehicle Type) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027
TABLE 10: Medium & Heavy Duty Buses (Vehicle Type) Geographic Market Spread Worldwide in US$: 2020 to 2027
TABLE 11: Medium & Heavy Duty Buses (Vehicle Type) Region Wise Breakdown of Global Historic Demand in US$: 2012 to 2019
TABLE 12: Medium & Heavy Duty Buses (Vehicle Type) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Natural Gas Vehicles (NGVs) Market Share (in %) by Company: 2018 & 2025

Market Analytics
TABLE 13: United States Natural Gas Vehicles (NGVs) Market Estimates and Projections in US$ by Vehicle Type: 2020 to 2027
TABLE 14: Natural Gas Vehicles (NGVs) Market in the United States by Vehicle Type: A Historic Review in US$ for 2012-2019
TABLE 15: United States Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

CANADA

TABLE 16: Canadian Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Vehicle Type: 2020 to 2027
TABLE 17: Canadian Natural Gas Vehicles (NGVs) Historic Market Review by Vehicle Type in US$: 2012-2019
TABLE 18: Natural Gas Vehicles (NGVs) Market in Canada: Percentage Share Breakdown of Sales by Vehicle Type for 2012, 2020, and 2027

JAPAN

TABLE 19: Japanese Market for Natural Gas Vehicles (NGVs): Annual Sales Estimates and Projections in US$ by Vehicle Type for the Period 2020-2027
TABLE 20: Natural Gas Vehicles (NGVs) Market in Japan: Historic Sales Analysis in US$ by Vehicle Type for the Period 2012-2019
TABLE 21: Japanese Natural Gas Vehicles (NGVs) Market Share Analysis by Vehicle Type: 2012 VS 2020 VS 2027

CHINA

TABLE 22: Chinese Natural Gas Vehicles (NGVs) Market Growth Prospects in US$ by Vehicle Type for the Period 2020-2027
TABLE 23: Natural Gas Vehicles (NGVs) Historic Market Analysis in China in US$ by Vehicle Type: 2012-2019
TABLE 24: Chinese Natural Gas Vehicles (NGVs) Market by Vehicle Type: Percentage Breakdown of Sales for 2012, 2020, and 2027

EUROPE

Market Facts & Figures

European Natural Gas Vehicles (NGVs) Market: Competitor Market Share Scenario (in %) for 2018 & 2025

Market Analytics
TABLE 25: European Natural Gas Vehicles (NGVs) Market Demand Scenario in US$ by Region/Country: 2020-2027
TABLE 26: Natural Gas Vehicles (NGVs) Market in Europe: A Historic Market Perspective in US$ by Region/Country for the Period 2012-2019
TABLE 27: European Natural Gas Vehicles (NGVs) Market Share Shift by Region/Country: 2012 VS 2020 VS 2027
TABLE 28: European Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Vehicle Type: 2020-2027
TABLE 29: Natural Gas Vehicles (NGVs) Market in Europe in US$ by Vehicle Type: A Historic Review for the Period 2012-2019
TABLE 30: European Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

FRANCE

TABLE 31: Natural Gas Vehicles (NGVs) Market in France by Vehicle Type: Estimates and Projections in US$ for the Period 2020-2027
TABLE 32: French Natural Gas Vehicles (NGVs) Historic Market Scenario in US$ by Vehicle Type: 2012-2019
TABLE 33: French Natural Gas Vehicles (NGVs) Market Share Analysis by Vehicle Type: 2012 VS 2020 VS 2027

GERMANY

TABLE 34: Natural Gas Vehicles (NGVs) Market in Germany: Recent Past, Current and Future Analysis in US$ by Vehicle Type for the Period 2020-2027
TABLE 35: German Natural Gas Vehicles (NGVs) Historic Market Analysis in US$ by Vehicle Type: 2012-2019
TABLE 36: German Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

ITALY

TABLE 37: Italian Natural Gas Vehicles (NGVs) Market Growth Prospects in US$ by Vehicle Type for the Period 2020-2027
TABLE 38: Natural Gas Vehicles (NGVs) Historic Market Analysis in Italy in US$ by Vehicle Type: 2012-2019
TABLE 39: Italian Natural Gas Vehicles (NGVs) Market by Vehicle Type: Percentage Breakdown of Sales for 2012, 2020, and 2027

UNITED KINGDOM

TABLE 40: United Kingdom Market for Natural Gas Vehicles (NGVs): Annual Sales Estimates and Projections in US$ by Vehicle Type for the Period 2020-2027
TABLE 41: Natural Gas Vehicles (NGVs) Market in the United Kingdom: Historic Sales Analysis in US$ by Vehicle Type for the Period 2012-2019
TABLE 42: United Kingdom Natural Gas Vehicles (NGVs) Market Share Analysis by Vehicle Type: 2012 VS 2020 VS 2027

SPAIN

TABLE 43: Spanish Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Vehicle Type: 2020 to 2027
TABLE 44: Spanish Natural Gas Vehicles (NGVs) Historic Market Review by Vehicle Type in US$: 2012-2019
TABLE 45: Natural Gas Vehicles (NGVs) Market in Spain: Percentage Share Breakdown of Sales by Vehicle Type for 2012, 2020, and 2027

RUSSIA

TABLE 46: Russian Natural Gas Vehicles (NGVs) Market Estimates and Projections in US$ by Vehicle Type: 2020 to 2027
TABLE 47: Natural Gas Vehicles (NGVs) Market in Russia by Vehicle Type: A Historic Review in US$ for 2012-2019
TABLE 48: Russian Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

REST OF EUROPE

TABLE 49: Rest of Europe Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Vehicle Type: 2020-2027
TABLE 50: Natural Gas Vehicles (NGVs) Market in Rest of Europe in US$ by Vehicle Type: A Historic Review for the Period 2012-2019
TABLE 51: Rest of Europe Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

ASIA-PACIFIC

TABLE 52: Asia-Pacific Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Region/Country: 2020-2027
TABLE 53: Natural Gas Vehicles (NGVs) Market in Asia-Pacific: Historic Market Analysis in US$ by Region/Country for the Period 2012-2019
TABLE 54: Asia-Pacific Natural Gas Vehicles (NGVs) Market Share Analysis by Region/Country: 2012 VS 2020 VS 2027
TABLE 55: Natural Gas Vehicles (NGVs) Market in Asia-Pacific by Vehicle Type: Estimates and Projections in US$ for the Period 2020-2027
TABLE 56: Asia-Pacific Natural Gas Vehicles (NGVs) Historic Market Scenario in US$ by Vehicle Type: 2012-2019
TABLE 57: Asia-Pacific Natural Gas Vehicles (NGVs) Market Share Analysis by Vehicle Type: 2012 VS 2020 VS 2027

AUSTRALIA

TABLE 58: Natural Gas Vehicles (NGVs) Market in Australia: Recent Past, Current and Future Analysis in US$ by Vehicle Type for the Period 2020-2027
TABLE 59: Australian Natural Gas Vehicles (NGVs) Historic Market Analysis in US$ by Vehicle Type: 2012-2019
TABLE 60: Australian Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

INDIA

TABLE 61: Indian Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Vehicle Type: 2020 to 2027
TABLE 62: Indian Natural Gas Vehicles (NGVs) Historic Market Review by Vehicle Type in US$: 2012-2019
TABLE 63: Natural Gas Vehicles (NGVs) Market in India: Percentage Share Breakdown of Sales by Vehicle Type for 2012, 2020, and 2027

SOUTH KOREA

TABLE 64: Natural Gas Vehicles (NGVs) Market in South Korea: Recent Past, Current and Future Analysis in US$ by Vehicle Type for the Period 2020-2027
TABLE 65: South Korean Natural Gas Vehicles (NGVs) Historic Market Analysis in US$ by Vehicle Type: 2012-2019
TABLE 66: Natural Gas Vehicles (NGVs) Market Share Distribution in South Korea by Vehicle Type: 2012 VS 2020 VS 2027

REST OF ASIA-PACIFIC

TABLE 67: Rest of Asia-Pacific Market for Natural Gas Vehicles (NGVs): Annual Sales Estimates and Projections in US$ by Vehicle Type for the Period 2020-2027
TABLE 68: Natural Gas Vehicles (NGVs) Market in Rest of Asia-Pacific: Historic Sales Analysis in US$ by Vehicle Type for the Period 2012-2019
TABLE 69: Rest of Asia-Pacific Natural Gas Vehicles (NGVs) Market Share Analysis by Vehicle Type: 2012 VS 2020 VS 2027

LATIN AMERICA

TABLE 70: Latin American Natural Gas Vehicles (NGVs) Market Trends by Region/Country in US$: 2020-2027
TABLE 71: Natural Gas Vehicles (NGVs) Market in Latin America in US$ by Region/Country: A Historic Perspective for the Period 2012-2019
TABLE 72: Latin American Natural Gas Vehicles (NGVs) Market Percentage Breakdown of Sales by Region/Country: 2012, 2020, and 2027
TABLE 73: Latin American Natural Gas Vehicles (NGVs) Market Growth Prospects in US$ by Vehicle Type for the Period 2020-2027
TABLE 74: Natural Gas Vehicles (NGVs) Historic Market Analysis in Latin America in US$ by Vehicle Type: 2012-2019
TABLE 75: Latin American Natural Gas Vehicles (NGVs) Market by Vehicle Type: Percentage Breakdown of Sales for 2012, 2020, and 2027

ARGENTINA

TABLE 76: Argentinean Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Vehicle Type: 2020-2027
TABLE 77: Natural Gas Vehicles (NGVs) Market in Argentina in US$ by Vehicle Type: A Historic Review for the Period 2012-2019
TABLE 78: Argentinean Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

BRAZIL

TABLE 79: Natural Gas Vehicles (NGVs) Market in Brazil by Vehicle Type: Estimates and Projections in US$ for the Period 2020-2027
TABLE 80: Brazilian Natural Gas Vehicles (NGVs) Historic Market Scenario in US$ by Vehicle Type: 2012-2019
TABLE 81: Brazilian Natural Gas Vehicles (NGVs) Market Share Analysis by Vehicle Type: 2012 VS 2020 VS 2027

MEXICO

TABLE 82: Natural Gas Vehicles (NGVs) Market in Mexico: Recent Past, Current and Future Analysis in US$ by Vehicle Type for the Period 2020-2027
TABLE 83: Mexican Natural Gas Vehicles (NGVs) Historic Market Analysis in US$ by Vehicle Type: 2012-2019
TABLE 84: Mexican Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

REST OF LATIN AMERICA

TABLE 85: Rest of Latin America Natural Gas Vehicles (NGVs) Market Estimates and Projections in US$ by Vehicle Type: 2020 to 2027
TABLE 86: Natural Gas Vehicles (NGVs) Market in Rest of Latin America by Vehicle Type: A Historic Review in US$ for 2012-2019
TABLE 87: Rest of Latin America Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

MIDDLE EAST

TABLE 88: The Middle East Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Region/Country: 2020-2027
TABLE 89: Natural Gas Vehicles (NGVs) Market in the Middle East by Region/Country in US$: 2012-2019
TABLE 90: The Middle East Natural Gas Vehicles (NGVs) Market Share Breakdown by Region/Country: 2012, 2020, and 2027
TABLE 91: The Middle East Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Vehicle Type: 2020 to 2027
TABLE 92: The Middle East Natural Gas Vehicles (NGVs) Historic Market by Vehicle Type in US$: 2012-2019
TABLE 93: Natural Gas Vehicles (NGVs) Market in the Middle East: Percentage Share Breakdown of Sales by Vehicle Type for 2012,2020, and 2027

IRAN

TABLE 94: Iranian Market for Natural Gas Vehicles (NGVs): Annual Sales Estimates and Projections in US$ by Vehicle Type for the Period 2020-2027
TABLE 95: Natural Gas Vehicles (NGVs) Market in Iran: Historic Sales Analysis in US$ by Vehicle Type for the Period 2012-2019
TABLE 96: Iranian Natural Gas Vehicles (NGVs) Market Share Analysis by Vehicle Type: 2012 VS 2020 VS 2027

ISRAEL

TABLE 97: Israeli Natural Gas Vehicles (NGVs) Market Estimates and Forecasts in US$ by Vehicle Type: 2020-2027
TABLE 98: Natural Gas Vehicles (NGVs) Market in Israel in US$ by Vehicle Type: A Historic Review for the Period 2012-2019
TABLE 99: Israeli Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

SAUDI ARABIA

TABLE 100: Saudi Arabian Natural Gas Vehicles (NGVs) Market Growth Prospects in US$ by Vehicle Type for the Period 2020-2027
TABLE 101: Natural Gas Vehicles (NGVs) Historic Market Analysis in Saudi Arabia in US$ by Vehicle Type: 2012-2019
TABLE 102: Saudi Arabian Natural Gas Vehicles (NGVs) Market by Vehicle Type: Percentage Breakdown of Sales for 2012, 2020, and 2027

UNITED ARAB EMIRATES

TABLE 103: Natural Gas Vehicles (NGVs) Market in the United Arab Emirates: Recent Past, Current and Future Analysis in US$ by Vehicle Type for the Period 2020-2027
TABLE 104: United Arab Emirates Natural Gas Vehicles (NGVs) Historic Market Analysis in US$ by Vehicle Type: 2012-2019
TABLE 105: Natural Gas Vehicles (NGVs) Market Share Distribution in United Arab Emirates by Vehicle Type: 2012 VS 2020 VS 2027

REST OF MIDDLE EAST

TABLE 106: Natural Gas Vehicles (NGVs) Market in Rest of Middle East: Recent Past, Current and Future Analysis in US$ by Vehicle Type for the Period 2020-2027
TABLE 107: Rest of Middle East Natural Gas Vehicles (NGVs) Historic Market Analysis in US$ by Vehicle Type: 2012-2019
TABLE 108: Rest of Middle East Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

AFRICA

TABLE 109: African Natural Gas Vehicles (NGVs) Market Estimates and Projections in US$ by Vehicle Type: 2020 to 2027
TABLE 110: Natural Gas Vehicles (NGVs) Market in Africa by Vehicle Type: A Historic Review in US$ for 2012-2019
TABLE 111: African Natural Gas Vehicles (NGVs) Market Share Breakdown by Vehicle Type: 2012 VS 2020 VS 2027

IV. COMPETITION

Total Companies Profiled: 46

Note: Product cover images may vary from those shown
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