Global Natural Gas for Vehicle Market Overview:
Due to the escalating unrest in Russia & Ukraine, the price of crude oil is steadily growing, and its supply is unpredictable. The usage of conventional fuels has raised pollution levels in many nations, with major deteriorations in air quality in major cities. This has a significant negative effect on human health and can cause skin and respiratory conditions. Governments have promoted the use of affordable and environmentally sustainable mobility options to lessen these effects. Compared to diesel or gasoline, natural gas (also known as CNG or LNG) has a lower carbon content. When these gases are used, fuel burns more efficiently and produces fewer emissions. Additionally, the cost of natural gas is lower and constant than that of diesel. Because fleet operators can save on fuel and lessen their carbon footprint, natural gas trucks and buses are becoming more popular. Government fleets have adopted more natural gas trucks and buses as a result of the advantages they provide for the environment. Utilizing natural gas also enables the government to lessen the direct effects of the rising price of crude oil. Large natural gas reserves allow for the local production of the necessary fuel, enabling nations like the United States and Russia to achieve energy independence. Range anxiety and fuelling infrastructure, however, continue to be key issues.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Natural Gas for Vehicle Market Dynamics:
Attributes | Details |
---|
Growth Drivers | - Growing Need for Alternate Fuel
- Rising Need to Curb Emission owing to Environmental Concerns
- Demand for Cheap Fuel
|
Restraints | |
Road Blocks / Challenges | - Infrastructural Challenges
|
Gaps & Opportunities | - Growing Popularity of Green Transportation
|
Competitive Landscape:
Global Natural Gas for Vehicle is a fragmented market due to the presence of various players. The players are focusing on investing more in R&D. Which will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Dong-Feng Group Company limited (China), AB Volvo (Sweden), Daimler AG (Germany), CNH Industrial (Netherland), Tata Motors (India), Westport Innovations Inc. (Canada), Clean Energy Fuels Corp. (United States), Landi Renzo SPA (Italy), Clean Air Power Ltd. (United States) and Agility Fuel Systems Inc. (United States). Considering Market by Vehicle Type, the sub-segment i.e. Light Duty will boost the Natural Gas for Vehicle market. Considering Market by End User, the sub-segment i.e. Commercial will boost the Natural Gas for Vehicle market.
Latest Market Insights:
In June 2021, CNH Industrial N.V. announced that it has entered into an agreement to acquire 100% of the capital stock of Raven Industries, Inc. The acquisition builds upon a long partnership between the two companies and will further enhance CNH Industrial’s position in the global agriculture equipment market by adding strong innovation capabilities in autonomous and precision agriculture technology.
In July 2022, Experts in the energy sector claim that while exploration has decreased, new gasfield discoveries offer Africa a chance to increase the supply of natural gas to Europe. At the moment, export capacity restrictions prevent some African nations from increasing their exports of natural gas and liquefied natural gas (LNG).
What Can be Explored with the Natural Gas for Vehicle Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Natural Gas for Vehicle Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Natural Gas for Vehicle
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Natural Gas for Vehicle market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Natural Gas for Vehicle market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Natural Gas Distributors, Regulatory Bodies, Potential Investors, Research and Development Institutes, End User and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.