The CNG Vehicles Market research encompasses an exhaustive analysis of the market outlook, framework, and socio-economic impacts. The report covers the accurate investigation of the market size, share, product footprint, revenue, and progress rate. Driven by primary and secondary researches, the CNG Vehicles Market study offers reliable and authentic projections regarding the technical jargon.
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CNG vehicles Market to Register 3.2% Growth during 2018-2027 – Reveals Fact.MR
Fact.MR delivers key insights on the CNG vehicle market in its published report, titled “CNG vehicles: Industry Analysis and Opportunity Assessment, 2018–2027”. In terms of revenue, the CNG vehicle market is estimated to expand at a CAGR of 3.2% over the forecast period, owing to the numerous factors, about which FACT.MR offers thorough insights and forecasts in this report.
The current growth trend of the CNG vehicles market has prominently influenced by the increasing air pollutions due to fuel emissions across all the regions of the globe. Advancement in autonomous technology amalgamate innovations in the automobile fuel systems, and NGVs (Natural Gas Vehicles) have become a tool for a consumer as well as a marketer to reduce and suppress fuel emission which are likely to boost the CNG vehicle market.
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The global market for CNG vehicle is segmented as per vehicle type, and product type. This report assesses trends that are driving the growth of each segment on the global level and offers potential takeaways that could prove substantially useful to CNG vehicle manufacturers looking to enter the market. Main regions assessed in this report include North America, Latin America, Europe, Japan, Asia Pacific excluding Japan (APEJ), and the Middle East & Africa (MEA).
The sections, by vehicle type, and by product type material in the CNG vehicle market evaluate the present scenario as well as growth prospects of the regional CNG vehicle market for 2018–2027. The North America CNG vehicle market has been estimated to dominate the CNG vehicle market, accounting for a maximum revenue share of the market by 2018 end. Europe and APEJ CNG vehicle markets are expected to account for more than 30% of the revenue share, respectively, of the global CNG vehicle market by 2027 end. Among the emerging markets, APEJ CNG vehicle market is estimated to exhibit a significant CAGR over 3.5% over the forecast period, followed by Europe with over CAGR of 4.01%.
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To provide in-depth insights into the pattern of demand for the CNG vehicle market, the market is segmented on the basis of vehicle. It includes passenger vehicles and commercial vehicles. The passenger segment is expected to dominate the CNG vehicle market over the forecast period, in terms of value, which accounted for more than 45% value share in 2027.
The section – CNG vehicle market analysis, by product type comprehensively analyzes the market on the basis of products type where CNG vehicle is used. The market is segmented into dedicated CNG vehicles, bi-fuel CNG vehicles, and dual fuel CNG vehicles. The segment, dedicated fuel in CNG vehicle market accounted for the highest market share of more than 56% in 2017. The segment attendance system is expected to grow moderately in the forecast period.
Also, increasing demand for CNG vehicle in the emerging automotive industries of APEJ region is driving the prominent manufacturers to strategically enter in the APEJ market with an objective to target the opportunities in the region. The CNG vehicle market in North America and Europe region is also estimated to have lucrative opportunities in the global CNG vehicle market, and hence, the companies are targeting emerging markets to increase their sales revenues.
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Global CNG vehicle Market: Competition Dashboard
Fact.MR has profiled some of the most prominent company’s active in the global CNG vehicle market such as Ford Motor Company, Fiat Chrysler Automobiles, General Motors, Honda Motor Company, Volkswagen, Hyundai Motor Group, Suzuki Motor Corporation, Great Wall Motors, Iran Khodro, and others. Some of the aftermarket players in the CNG Vehicle market are Landi Renzo, Impco, Venchurs, Westport, Tomasetoo Achile, and others. The key market players in the CNG vehicle market are focusing on product development and collaboration. Vendors in the CNG vehicle market are focusing on developing engine efficiency that can meet the changing customer requirements.
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