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Global Light and Heavy duty Natural Gas Vehicle Market 2017-2021

Global Light and Heavy duty Natural Gas Vehicle Market 2017-2021

About Light and Heavy Duty Natural Gas Vehicle

Natural gas vehicles (NGV) are alternative fuel vehicles that use natural gas in place of diesel or gasoline as fuel for combustion. Natural gas is used in two forms in automobiles: compressed natural gas (CNG) and liquefied natural gas (LNG). LNG is stored as a supercooled liquid and is used for combustion. A temperature range between -184 degrees Fahrenheit and -274 degrees Fahrenheit is maintained for the storage of LNG. The advantage of using LNG is that it has a high calorific value that is comparable to that of gasoline. However, it needs high investment in infrastructure to maintain the temperature of the cryogenic liquid. CNG is stored in a gaseous form and an odorant is added to it to detect leakage. Normally, it is stored in high-pressure tanks with a pressure range of 20 to 25 MPa.

Technavio’s analysts forecast the global light and heavy duty natural gas vehicle market to grow at a CAGR of 5.65% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global light and heavy duty natural gas vehicle market for 2017-2021. To calculate the market size, the report presents a comprehensive, reliable, and the result of extensive research, both primary and secondary.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report Global Light And Heavy Duty Natural Gas Vehicle Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • CNH Industrial
  • Daimler Trucks
  • General Motors
  • MAN Truck & Bus
  • Volvo Trucks
Other prominent vendors
  • Beiqi Foton Motor
  • BRC Gas Equipment
  • Cummins Westport
  • Dongfeng Motor
  • Fiat Chrysler Automobiles
  • Ford Motor
  • GAZ
  • Honda
  • IMPCO Technologies
  • ISUZU MOTORS
  • KAMAZ
  • Landi Renzo
  • Navistar
  • Renault
  • Volkswagen
Market driver
  • Promotional measures by local governments to boost NGV market.
  • For a full, detailed list, view our report
Market challenge
  • Reducing crude oil prices to hinder adoption of NGV.
  • For a full, detailed list, view our report
Market trend
  • Next generation fuel injectors and adsorbent natural gas tank to increase range of NGV.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

PR

Technavio Announces the Publication of its Research Report – Global Light and Heavy Duty Natural Gas Vehicle Market 2017-2021

Technavio recognizes the following companies as the key players in the global light and heavy duty natural gas vehicle market: CNH Industrial, Daimler Trucks, General Motors, MAN Truck & Bus, and Volvo Trucks.

Other Prominent Vendors in the market are: Beiqi Foton Motor, BRC Gas Equipment, Cummins Westport, Dongfeng Motor, Fiat Chrysler Automobiles, Ford Motor, GAZ, Honda, IMPCO Technologies, ISUZU MOTORS, KAMAZ, Landi Renzo, Navistar, Renault, and Volkswagen.

Commenting on the report, an analyst from Technavio’s team said: “One trend in market is development of near-zero emission NGV. Many NGV manufacturers have been focusing on developing near-zero emission natural gas-powered engines to increase the popularity of NGVs and to ensure compliance with the emission norms set by regulatory bodies. Cummins Westport, one of the leading manufacturers of alternate fuel engines, has already started the production of the near-zero variant (NZ), an 8.9-liter engine that will be commercially available in FY2017-FY2018. The company claims that the NZ variant of the engine will have emissions 90% lower than the regulations set by the US Environmental Protection Agency (EPA) and California Air Resources Board (CARB). The engine will have nitrox emissions as low as 0.02 grams/bhp/Km.”

According to the report, one driver in market is stricter emission standards. Many countries are working to implement strict emission norms in response to environmental and health concerns. Reducing automotive emissions and fuel consumption are the main objectives behind setting tougher emission norms. Such legislations will lead to the increased adoption of NGVs especially in the LCV and HCV segment as the emissions from diesel-powered light-duty and heavy-duty trucks are much more than that of natural gas-powered engines. Nitrogen oxide emissions are also higher in diesel engines, thus mandating the installation of urea filters to reduce nitrox emissions. The resultant increase in the prices of diesel engines will further boost NGV adoption rates.

Further, the report states that one challenge in market is higher differential cost of NGV for heavy-duty vehicles. The majority of the engines manufactured today are compatible with either gasoline or diesel. Alternative fuels like LPG, CNG, and LNG require the installation of a kit to make the engine compatible with the fuel type. Gasoline engines are the cheapest to manufacture. In the passenger vehicle segment, the sum of gasoline engine cost and the differential cost for the installation of kits for CNG and LNG fuel types are lower compared to the cost of diesel engines owing to lower engine displacement and size. However, the differential cost rises as the engine displacement increases. For heavy-duty vehicles, the cost of the kit may be more than that of the diesel engine itself.

Companies Mentioned

CNH Industrial, Daimler Trucks, General Motors, MAN Truck & Bus, Volvo Trucks, Beiqi Foton Motor, BRC Gas Equipment, Cummins Westport, Dongfeng Motor, Fiat Chrysler Automobiles, Ford Motor, GAZ, Honda, IMPCO Technologies, ISUZU MOTORS, KAMAZ, Landi Renzo, Navistar, Renault, Volkswagen.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
      • Table Stakeholders in NGV industry
      • Table Natural gas supply chain
    • Infrastructure for CNG filling
      • Table Fast-fill station
      • Table Slow-fill station
    • Product life cycle
      • Table Product life cycle: Alternative fuel engines
  • Market landscape
    • Market overview
      • Table Segmentation of global light- and heavy-duty NGV market
      • Table Energy consumption in the US energy sector
      • Table Energy consumption in the US transportation sector
      • Table Natural gas promotion framework
    • Market size and forecast
      • Table Global light- and heavy-duty NGV market 2016-2021 (millions of units)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global light- and heavy-duty NGV market by application
      • Table Global light- and heavy-duty NGV market by application 2016
      • Table Global light- and heavy-duty NGV market by application 2021
    • Global light-duty NGV market
      • Table Global light-duty NGV market 2016-2021 (millions of units)
      • Table Global LCV unit shipment 2016-2021 (millions of units)
    • Global heavy-duty NGV market
      • Table Global heavy-duty NGV market 2016-2021 (millions of units)
      • Table Global HCV unit shipment 2016-2021 (millions of units)
  • Market segmentation by geography
    • Global light- and heavy-duty NGV market by geography
      • Table Global light- and heavy-duty NGV market by geography 2016
      • Table Global light- and heavy-duty NGV market by geography 2021
    • Light- and heavy-duty NGV market in APAC
      • Table Light- and heavy-duty NGV market in APAC 2016-2021 (millions of units)
      • Table Key countries for NGV and fueling network
    • Light- and heavy-duty NGV market in EMEA
      • Table Light- and heavy-duty NGV market in EMEA 2016-2021 (millions of units)
      • Table Euro 6 norms for light and heavy duty vehicles (g/km)
      • Table Key countries for NGV and fueling network
    • Light- and heavy-duty NGV market in the Americas
      • Table Light- and heavy-duty NGV market in the Americas 2016-2021 (millions of units)
      • Table Key countries for NGV and fueling network
  • Market drivers
    • Stricter emission standards
      • Table EU emission standards and limits for light-duty vehicles
      • Table EU emission standards and limits for heavy-duty vehicles
    • Lower price of natural gas than other fuels
      • Table Commercial price of natural gas in the US ($/100 gallons): 2008 – 2015
      • Table Commercial price of crude oil in the US ($/100 gallons): 2008 – 2015
    • Higher fuel efficiency of NGV
      • Table Total cost of ownership of commercial vehicles: 2015
    • Promotional measures by local governments to boost NGV market
  • Market challenges
    • Higher differential cost of NGV for heavy-duty vehicles
    • Low number of natural gas fueling stations
      • Table Gas stations and NGV fuel stations across different countries
      • Table Natural gas cylinder storage types
    • Reducing crude oil prices to hinder adoption of NGV
      • Table Crude oil prices 2008-2016 ($/barrel)
      • Table USD to Euro (2004-2016)
    • Shifting focus of OEMs toward electric vehicles
      • Table Global electric vehicle market 2015-2020 (millions of units)
  • Market trends
    • Development of near-zero emission NGV
      • Table Classification of vehicle in bins
    • Next generation fuel injectors and adsorbent natural gas tank to increase range of NGV
    • Introduction of multi-fuel engines
  • Vendor landscape
    • Competitive benchmarking
      • Table Benchmarking of players in global light- and heavy-duty NGV market 2016
    • Other prominent vendors
  • Key vendor analysis
    • CNH Industrial
      • Table CNH Industrial: Business segmentation by revenue 2015
      • Table CNH Industrial: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table CNH Industrial: Geographical segmentation by revenue 2015
      • Table CNH Industrial: Light- and heavy-duty NGV portfolio
    • Daimler Trucks
      • Table Daimler: Business segmentation by revenue 2015
      • Table Daimler: Geographical segmentation by revenue 2015
      • Table Daimler Trucks: Light- and heavy-duty NGV portfolio
    • General Motors
      • Table General Motors: Business segmentation by revenue 2015
      • Table General Motors: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table General Motors: Geographical segmentation by revenue 2015
      • Table General Motors: Light- and heavy-duty NGV portfolio
    • MAN Truck & Bus
      • Table MAN Truck & Bus: Business segmentation by revenue 2015
      • Table MAN Truck & Bus: Geographical segmentation by revenue 2015
      • Table MAN Truck & Bus: Light- and heavy-duty NGV portfolio
    • Volvo Trucks
      • Table Volvo Trucks: Business segmentation by revenue 2015
      • Table Volvo Trucks: Geographical segmentation by revenue 2015
      • Table Volvo Trucks: Light- and heavy-duty NGV portfolio
  • Appendix
    • List of abbreviations
  • Explore Technavio

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