Improving Safety Standards to Drive the Market
In the past years, the aftermarket kits, especially in the emerging markets, mainly drove the liquefied petroleum vehicles. Lack of LPG-equipped models contributed to the high share of the aftermarket. But certain manufacturers, like Maruti Suzuki in India, have started coming out with LPG-equipped models and this has given a major boost to the sales. The major issue with models was safety, which has been resolved by this trend.
The commercial vehicle segment is expected to be the fastest-growing segment in the CNG & LPG market over the forecast period. Low running cost is of the greatest importance for commercial vehicles and a higher number of commercial vehicle purchases are anticipated for CNG and LPG vehicles over the coming five years. Regulations in certain regions have forced commercial vehicles to adopt such systems.
Asia-Pacific Region to Lead the Market Growth
The Asia-Pacific region is the largest market for automobiles in the world. The region, despite the sluggish growth in the Chinese market, the largest automobile market in the world, is expected to lead the growth in the automotive CNG and LPG market. CNG-powered vehicles are expected to experience strong growth in the European and North American regions, but the growth in LPG vehicles is expected to be primarily be restricted to the developing markets. Despite the tough economic conditions in the South American region, the market is anticipated to perform relatively well in the forecast period.
Key Developments in the Market:
- February 2018: Zoilo Rios Group built a CNG and LPG station network in Spain.
Reasons to Purchase this Report
- Study on the adoption of newer technologies and their effects on the global CNG and LPG vehicle market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study the vehicle segment that is expected to dominate the market during the forecast period.
- Study the region that is expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support, along with the Market Estimate sheet (in Excel).
This report can be customized to meet your requirements. Please contact us for more information.
1.1 Research Phases
1.2 Scope of the Market
1.3 Study Deliverables
2. Executive Summary
3. Market Overview and Trends
3.2 Market Trends
3.3 Porter’s Five Forces Framework
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry within the Industry
4. Market Dynamics
5. Global CNG and LPG Vehicle Market, Segmented by Fuel Type
6. Global CNG and LPG Vehicle Market, Segmented by Vehicle Type
6.1 Passenger Vehicle
6.2 Commercial Vehicle
7. Global CNG and LPG Vehicle Market, Segmented by Geography
7.1 North America
7.1.1 United States
7.1.4 Rest of North America
7.2 South America
7.2.3 Rest of South America
7.3.4 Rest of APAC
7.4.1 United Kingdom
7.4.4 Rest of Europe
7.5 Middle East & Africa
7.5.2 South Africa
7.5.3 Saudi Arabia
7.5.4 Rest of Middle East & Africa
8. Competitive Landscape
8.2 Market Share Analysis
8.3 Developments of Key Players
9. Key Vendor Analysis (Overview, Products & Services, Strategies)
9.3 General Motors
10. Future of the Market