What is CNG Passenger Cars Market Scope?
CNG Passenger Cars are the vehicles which use compressed natural gases instead of petrol or diesel. These cars create less pollution compared to other cars. CNG helps in igniting the engine, as well as are gaining popularity over the compression- ignition engine based vehicles such as diesel-operated vehicles. The rising number of people using the passenger’s car for traveling is driving the market for CNG passenger cars.
The CNG Passenger Cars market study is being classified by Type (Small Car, Minibus and Bus), by Application (Family, Commercial and Public Service) and major geographies with country level break-up.
Analysts at AMA predicts that Vendors from Global will contribute to the maximum growth of Global CNG Passenger Cars market throughout the predicted period.
Volkswagen (Germany), General Motors (United States), Daimler (Germany), Fiat (Italy), Ford (United States), PSA Peugeot Citroen (France), Honda (Japan), TATA (India), Suzuki (Japan) and Hyundai (South Korea) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Changan (China) and Geely (Hong Kong).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global CNG Passenger Cars market by Type, Application and Region.
On the basis of geography, the market of CNG Passenger Cars has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In May 2019, the government of U. S state of Oklahoma extends tax incentives for CNG vehicles. Tax credits will be extended from January 2020 to 2027. In 2018, the government of Delhi, India has proposed 50% less road tax for new CNG vehicles. Such a move to curb pollution and meet sustainable development goal is expected to boost CNG vehicle sales.
Market Drivers
- Rising Prices of Petrol in Different Countries
- Cost Benefits of CNG Coupled With Significant Carbon Emission Reduction Is Expected to Increase the CNG Passenger Market Globally
Opportunities
- Strict Emission Norms by European Union
- Rising Public and Government Campaigns towards Saving Environment from Harsh Vehicle’s Pollution
Restraints
- Initial Cost of Purchasing a Natural Gas Vehicle
- Concern Related To the Poor Networks of CNG and LPG Stations
Challenges
- Lack of Awareness about the Benefits of LPG/CNG amongst the People
- Issue Related To the Deficiency in the Service Stations of CNG and LPG
Key Target Audience
Automotive OEMs, CNG and LPG fuel distributors, CNG and LPG kit manufacturers, Traders, Distributors, and Suppliers, Industry associations and experts, Research organizations and consulting companies., Research Institutes and Industry associations
Customization available in this Study:
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