Automotive Natural Gas Vehicle Market By Fuel Type, By Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2021-2031

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market

CHAPTER 4: AUTOMOTIVE NATURAL GAS VEHICLE MARKET, BY FUEL TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 CNG
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 LNG
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country

CHAPTER 5: AUTOMOTIVE NATURAL GAS VEHICLE MARKET, BY BY VEHICLE TYPE
5.1 Overview
5.1.1 Market size and forecast
5.2 Passenger cars
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Commercial vehicles
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country

CHAPTER 6: AUTOMOTIVE NATURAL GAS VEHICLE MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Fuel Type
6.2.3 North America Market size and forecast, by by Vehicle Type
6.2.4 North America Market size and forecast, by country
6.2.4.1 U. S.
6.2.4.1.1 Market size and forecast, by Fuel Type
6.2.4.1.2 Market size and forecast, by by Vehicle Type
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Fuel Type
6.2.4.2.2 Market size and forecast, by by Vehicle Type
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Fuel Type
6.2.4.3.2 Market size and forecast, by by Vehicle Type
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Fuel Type
6.3.3 Europe Market size and forecast, by by Vehicle Type
6.3.4 Europe Market size and forecast, by country
6.3.4.1 UK
6.3.4.1.1 Market size and forecast, by Fuel Type
6.3.4.1.2 Market size and forecast, by by Vehicle Type
6.3.4.2 Germany
6.3.4.2.1 Market size and forecast, by Fuel Type
6.3.4.2.2 Market size and forecast, by by Vehicle Type
6.3.4.3 France
6.3.4.3.1 Market size and forecast, by Fuel Type
6.3.4.3.2 Market size and forecast, by by Vehicle Type
6.3.4.4 Netherlands
6.3.4.4.1 Market size and forecast, by Fuel Type
6.3.4.4.2 Market size and forecast, by by Vehicle Type
6.3.4.5 Rest of Europe
6.3.4.5.1 Market size and forecast, by Fuel Type
6.3.4.5.2 Market size and forecast, by by Vehicle Type
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Fuel Type
6.4.3 Asia-Pacific Market size and forecast, by by Vehicle Type
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Fuel Type
6.4.4.1.2 Market size and forecast, by by Vehicle Type
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Fuel Type
6.4.4.2.2 Market size and forecast, by by Vehicle Type
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Fuel Type
6.4.4.3.2 Market size and forecast, by by Vehicle Type
6.4.4.4 South Korea
6.4.4.4.1 Market size and forecast, by Fuel Type
6.4.4.4.2 Market size and forecast, by by Vehicle Type
6.4.4.5 Rest of Asia-Pacific
6.4.4.5.1 Market size and forecast, by Fuel Type
6.4.4.5.2 Market size and forecast, by by Vehicle Type
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Fuel Type
6.5.3 LAMEA Market size and forecast, by by Vehicle Type
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Latin America
6.5.4.1.1 Market size and forecast, by Fuel Type
6.5.4.1.2 Market size and forecast, by by Vehicle Type
6.5.4.2 Middle East
6.5.4.2.1 Market size and forecast, by Fuel Type
6.5.4.2.2 Market size and forecast, by by Vehicle Type
6.5.4.3 Africa
6.5.4.3.1 Market size and forecast, by Fuel Type
6.5.4.3.2 Market size and forecast, by by Vehicle Type

CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments

CHAPTER 8: COMPANY PROFILES
8.1 BMW Group
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Ford Motor Company
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Honda Motor Co., Ltd.
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Mercedes-Benz Group AG
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Nissan Motor Co., Ltd.
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Toyota Motor Corporation
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Volkswagen AG
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 AB Volvo
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Tata Motors
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Navistar, Inc.
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
8.11 Cummins, Inc.
8.11.1 Company overview
8.11.2 Company snapshot
8.11.3 Operating business segments
8.11.4 Product portfolio
8.11.5 Business performance
8.11.6 Key strategic moves and developments
8.12 CNH Industrial
8.12.1 Company overview
8.12.2 Company snapshot
8.12.3 Operating business segments
8.12.4 Product portfolio
8.12.5 Business performance
8.12.6 Key strategic moves and developments

Executive Summary

According to this report, titled, 'Automotive Natural Gas Vehicle Market,' the automotive natural gas vehicle market was valued at $11.1 billion in 2021, and is estimated to reach $20.4 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.

Asia-Pacific is expected to dominate the global automotive natural gas vehicle market. The presence of huge population has led to huge demand for automotive natural gas vehicle. Furthermore, huge demand has been witnessed in this region for natural gas and CNG to eliminate the emission by gasoline fuel. In addition, rules and regulations introduced by governments to minimize the air pollution in urban areas lead to development of transportation infrastructure and surge in demand for natural gas transportation sectors fostered the demand for automotive natural gas vehicle industry.

Several expansion and product launches carried out by the key players operating in automotive natural gas vehicle market, fuels the growth of the market. For instance, in 2022, in India, Blue Energy Motors unveiled its new manufacturing plant at Chakan in Pune. The new plant is expected to manufacture liquefied natural gas fueled green trucks. Company is expected to produce LNG-fuelled, long-haul, heavy-duty trucks at the facility with the 5,528 4x2 tractor model as the first vehicle to be rolled out of the plant.

The growth of the global automotive natural gas vehicle market is propelling due to increase in fuel costs, government initiatives to develop & expand natural gas distribution infrastructure, and rise in environmental awareness. However, rise in demand for electric vehicle is the factor that hampers the growth of the market. Furthermore, growth in demand from emerging countries is the factor expected to offer growth opportunities during the forecast period.

COVID-19 Impact Analysis

The impact of the COVID-19 pandemic has resulted in supply-chain disruptions causing low sales of passenger cars and temporary suspension of production of vehicles across the globe, which in turn resulted in decrease in the sales of natural gas vehicles. For instance, in September 2020, Europe recorded a decrease of 50% in the sales of passenger cars running on alternative fuels such ethanol, liquefied petroleum gas (LPG) and natural gas (NGV) in 2020 as compared to 2019. Total number of vehicles sold were reduced to 335,906 units which were 1.1% less in 2020 as compared to 2019.

Moreover, import-export activities between countries were temporarily halted due to national emergency, resulting in shortage of supply, return, and replacement of automotive parts & finished items. Several automobile manufacturers faced shortage of components such as semiconductor chips, and others, which resulted in delay in production of automobiles, thereby resulted in decrease in the production of natural gas-based vehicles.

However, post-pandemic, few companies has recorded the increase in the sales of natural gas-based vehicles which is expected to drive the growth of the automotive natural gas vehicle market during the forecast timeframe. For instance, in April 2021, Maruti Suzuki recorded an increase of 48.11% in the sales of gas-based vehicles in 2021 as compared to 2019. The total number of units sold were 157,000 units in 2021 and 106,444 units in 2020.

KEY FINDINGS OF THE STUDY

By fuel type, the LNG segment is anticipated to exhibit significant growth in the near future.

By vehicle type, the commercial vehicle segment is anticipated to exhibit significant growth in the near future.

By region, North America is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global automotive natural gas vehicle market include AB Volvo, BMW AG, CNH Industrial N.V., Ford Motor Company, Honda Motor Co., Ltd., Mercedes-Benz Group AG, Mitsubishi Motors Corporation, Navistar International Corporation, Nissan Motor Co., Ltd, Tata Motors, Toyota Motor Corporation, and Volkswagen AG.

Companies Mentioned

• BMW Group
• Ford Motor Company
• Honda Motor Co. Ltd.
• Mercedes-Benz Group AG
• Nissan Motor Co. Ltd.
• Toyota Motor Corporation
• Volkswagen AG
• Ab Volvo
• Tata Motors
• Navistar, Inc.
• Cummins, Inc.
• Cnh Industrial

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.