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Market Synopsis:The foremost competitors in the automotive natural gas vehicle market are Beiqi Foton Motors Group Limited (China), AB Volvo (Sweden), Dongfeng Motors Group Limited (China), Shaanxi Automobile Group Limited (China), Daimler AG (Germany), Landi Renzo (Italy), CNH Industrial NV (The Netherlands), and Westport (Canada).
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Natural gas is the most efficient and abundant source of energy. It is one of the cleanest burning commercial fuels available in the market. There is a huge demand for a natural gas vehicle that satisfies emission targets of fleet operators, consumers, and manufacturers. Currently, there are more than 400,000 units of natural gas vehicles present on the road. However, there are some shortcomings in operating performance of the natural gas vehicle, such as short driving range and extra space needed for fuel storage.
The surge in the extraction of natural gas production is rising owing to technology progress in natural gas extraction methods. The market is on an upward growth curve and is yet to penetrate in various regions and user segments, this fact presents high opportunities for development of the market in the coming years. Investments in vehicles and retail infrastructure are expected to create positive returns although temporary government support may be needed to create an NGV market. Lesser fuel price, a decrease in greenhouse gas emission, and making of less carbon dioxide per unit of energy used is expected to impel market growth in the forecast period.
The factors that are responsible for the growth of automotive natural gas vehicle market are lower fuel cost, reduction in greenhouse gas emission, and production of less carbon dioxide per unit of energy consumed. Other key drivers expected to contribute towards the growth of automotive natural gas vehicle market are growth in refueling station infrastructure and rising crude oil price. In addition to that, conversions or retrofitting are available across different platforms for consumers to get the desired fuel efficiency.
The demand for natural fuel alternatives in vehicles is resurging currently due to new factors that are shaping the overall market. Market reports linked to the automobile industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is set to demonstrate a 6 % CAGR in the upcoming forecast period.
Market Segments Analysis:
The segmentation of the automotive natural gas vehicle market is carried out on the basis of fuel type, vehicle type, and region.
On the basis of fuel type, the automotive natural gas vehicle market is divided into LNG and CNG. The vehicle type segment of the market consists of medium-duty, light-duty, and heavy-duty. The regions included in the market for automotive natural gas vehicle are the Americas, Europe, Asia Pacific and Rest of the world.
Regional Analysis:
The market is segmented based on America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the market in future, due to the largest market share for commercial vehicle and fleet operators. For instance, China is showing growth in refueling infrastructure for CNG and LNG fuel. The America region is second to the Asia Pacific region in the automotive natural gas vehicle market due to increase in the adoption rate of the natural gas driven vehicle.
TABLE OF CONTENTS:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVES
2.2.2 ASSUMPTIONS & LIMITATIONS
2.3 MARKETS STRUCTURE
3 MARKET RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.4 FORECAST MODEL
4 MARKET LANDSCAPE
4.1 FIVE FORCES ANALYSIS
4.1.1 THREAT OF NEW ENTRANTS
4.1.2 BARGAINING POWER OF BUYERS
4.1.3 BARGAINING POWER OF SUPPLIERS
4.1.4 THREAT OF SUBSTITUTES
4.1.5 SEGMENT RIVALRY
4.2 VALUE CHAIN/SUPPLY CHAIN OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET
5 INDUSTRY OVERVIEW OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET
5.1 INTRODUCTION
5.2 GROWTH DRIVERS
5.3 IMPACT ANALYSIS
5.4 MARKET CHALLENGES
Continued…
LIST OF TABLES:
TABLE 1 GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY REGION, 2017-2023
TABLE 2 NORTH AMERICA AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
TABLE 3 EUROPE AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
TABLE 4 ASIA PACIFIC AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
TABLE 5 MIDDLE EAST & AFRICA AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
TABLE 6 LATIN AMERICA AUTOMOTIVE NATURAL GAS VEHICLE MARKET: BY COUNTRY, 2017-2023
Continued…
LIST OF FIGURES:
FIGURE 1 GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET SEGMENTATION
FIGURE 2 FORECAST METHODOLOGY
FIGURE 3 FIVE FORCES ANALYSIS OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET
FIGURE 4 VALUE CHAIN OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET
FIGURE 5 SHARE OF GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET IN 2017, BY COUNTRY (IN %)
FIGURE 6 GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET, 2017-2023,
FIGURE 7 SUB SEGMENTS OF COMPONENT
FIGURE 8 GLOBAL AUTOMOTIVE NATURAL GAS VEHICLE MARKET SIZE BY COMPONENT, 2017
Continued…
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