CNG & LPG Vehicle Market worth $5,196.9 Million by 2019, According to a New Study

Wednesday 17 September 2014, Amsterdam

The report, now available on ASDReports, “CNG & LPG Vehicle Market by Vehicle Type (Passenger Cars & Light Commercial Vehicles), Fuel Type (CNG & LPG), and Geography (Asia-Pacific, Europe, Americas & ROW) - Industry Trends & Forecasts to 2019”, defines and segments the CNG and LPG vehicle market with the analysis and forecasting of its global volume and value.


Asia-Pacific: Potentially growing market for CNG and LPG vehicles

Asia-Pacific includes developing countries, such as China and India as well developed countries, such as South Korea. Earlier, Pakistan was the leading consumer of CNG vehicles in this region, but it gave way to China to become the leader in 2012 as the local government put a ban on manufacturing and converting CNG vehicles. Japan, Thailand, and Hong Kong have their 90% taxis running on LPG, which are retro-fitted.


Europe: Established market for LPG vehicles

The European region experienced the economic downturn of 2009, which affected many industries. Currently, it is in a recovery phase and is anticipated that it will recover in a phased manner. The LPG vehicle market is projected to grow at a stable rate for the period under study. Europe is a major market for alternative energy vehicles and is home to a number of world-renowned automobile manufacturers, such as FIAT, Volkswagen, Peugeot, Citroen, and Renault. Poland and Turkey are the leading consumers of LPG vehicles in this region; whereas Italy is the biggest market for CNG vehicles.


Americas: Dominated by retrofit CNG vehicles

The Americas region comprises of the U.S. and Brazil, the latter being one of the emerging economies in this region. The industrial sector in these countries is booming, due to which the automotive industry is growing at a healthy rate. The promotion of flex fuels (E85, moisturized ethanol) by the Brazilian government has further propelled the demand for alternative energy vehicles. The U.S. has been very slow in adopting CNG vehicles and it can be exemplified by the fact that the Honda Civic CNG that was launched in 1998, still sells about 1,500 units a year. Argentina on the other hand, is a retrofit market .The top CNG and LPG manufacturers, such as Fiat (Italy), GM (U.S.), and Ford (U.S.) have a major presence in the Americas region.

The report covers the CNG and LPG vehicles market in terms of volume (thousand) and value ($million) across regions, such as Asia-Pacific, Europe, Americas, and the Rest of the World (ROW). The report briefly explains the CNG and LPG vehicles market on the basis of geography, vehicle type, and fuel type, from 2014 to 2019.

The report also shows an overview of the technical as well as other important aspects of the CNG and LPG vehicles market. It includes the analysis of the value chain, Porter’s Five Forces model, competitive landscapes, and company profiles. In addition to this, seven key players in the market have also been profiled.