Market Definition
A natural gas vehicle (NGV) is a vehicle that uses compressed natural gas (CNG) or liquefied natural gas (LNG) as a fuel. CNG is made by compressing methane, a main component of natural gas, to less than 1 percent of its volume at standard atmospheric pressure. LNG is made by cooling methane to -162°C (-260°F), at which point it becomes a liquid.
Market Outlook
The key trends in Automotive Natural Gas Vehicle technology are the increasing use of compressed natural gas (CNG) and liquefied natural gas (LNG) as fuel for vehicles, and the development of new technologies to improve the efficiency of natural gas vehicles (NGVs).
CNG is increasingly being used as a fuel for vehicles due to its lower emissions of carbon dioxide, nitrogen oxides, and particulate matter than gasoline or diesel. CNG is also less expensive than gasoline, making it an attractive option for many consumers.
LNG is also being used more as a fuel for vehicles due to its low emissions and its ability to be stored and transported more easily than CNG. LNG is also less expensive than gasoline.
New technologies are being developed to improve the efficiency of NGVs. These technologies include the use of lighter materials for the construction of NGVs, the use of turbochargers and other engine modifications to improve engine efficiency, and the use of alternative fuel sources such as biogas.
The trend toward the use of NGVs is expected to continue as the benefits of these vehicles become more widely known and as the technology continues to improve.
The automotive natural gas vehicle market is primarily driven by the need to reduce environmental pollution and dependence on imported oil. Natural gas is a cleaner burning fuel than gasoline or diesel, and thus helps to reduce emissions of harmful pollutants such as carbon dioxide, nitrogen oxides, and particulate matter.
Additionally, natural gas is a domestic energy source, which reduces dependence on imported oil and helps to insulate the economy from volatile international oil prices.
One of the key restraints in the automotive natural gas vehicle market is the lack of a comprehensive infrastructure for natural gas refueling. In order for natural gas vehicles to proliferate, a robust and reliable infrastructure must be in place to support it.
Another key challenge is the high cost of natural gas vehicles relative to gasoline vehicles. Natural gas vehicles typically cost more to purchase and maintain than gasoline vehicles, which can act as a deterrent for consumers.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Market Segmentation
The Automotive Natural Gas Vehicle Market is segmented by fuel type, vehicle type and region. By fuel type, the market is divided into compressed natural gas and liquefied natural gas. By vehicle type, the market is bifurcated into passenger vehicles and commercial vehicles. By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world.
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Major Players
The key players in the Automotive Natural Gas Vehicle Market are Ford Motors, Peugeot, Volvo, BMW, Proton, Opel, Mercedes, Volkswagen, General Motors, and Honda Motor Company Ltd.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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