Global Automotive Natural Gas Vehicle Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
Global Automotive Natural Gas Vehicle Market Research Report 2016 by OBRC, is an extensive study on present state of the Automotive Natural Gas Vehicle Market. The research report includes a basic outline of the industry comprising definitions, classifications, applications and industry structure. The synopsis is professionally researched and articulated for the international markets gives an insight of the market via competitive landscape analysis, development trends and significant regionals analysis. Upcoming and present development plans and policies are examined, including manufacturing operations and cost framework.
Government subsidies, changing environmental regulations, and demand for clean transport are the dynamics propelling automotive natural gas vehicles market for the forecasted period. According to US department of energy, natural gas vehicles are 15% more fuel efficient compared to gasoline driven vehicles. Compressed natural gas (CNG) is the foremost fuel type in demand for natural gas vehicles. According to European Free Trade Association there are over 1,272,852 natural gas vehicles on road in Europe by the end of 2015. Automotive natural gas vehicles market is driven chiefly by medium duty trucks and buses. Increasing cost of retrofitting gasoline vehicles into natural gas and changing regulatory norms by the government are some of the challenges for automotive natural gas vehicle market growth. North America is the dominant market for automotive natural gas vehicles market. Asia Pacific and Europe (Eastern Europe) is set to drive the market in the region. Countries like U.S, Russia, Bulgaria, Ukraine, Netherlands, Iran, China and India are the top markets for automotive natural gas vehicles market for the forecasted period.
Reducing environmental impact, fuel economy and energy security are the driving factors discussed in automotive natural gas vehicle market research report. Growing demand for clean transportation, varying regulatory compliance rules of different countries on vehicle modification, high initial set up cost, new infrastructure challenges are the challenges analysed and deliberated in the research report for the forecasted period 2016-2022.
The research report is segmented in terms of fuel type and vehicle type. Fuel Type segment is further sub segmented into compressed natural gas and liquefied natural gas. Vehicle type segment is further divided into medium duty vehicles and heavy duty vehicles. Medium duty vehicles are sub segmented into medium duty trucks and medium duty buses. Heavy duty vehicles are sub segmented into heavy duty trucks and heavy duty buses.
Some of the leading companies are AB Volvo, Beiqi Motor Co Ltd., Dongfeng Motor Group Company Ltd., Cnh Industrial NV., Daimler AG., Westport Innovations Inc., Clean Energy Fuels Corp., Landi Renzo SPA., Clean Air Power Ltd., General Motors Ltd., Honda Motor Company., Hyundai Motor Corporation., Volkswagen Motors., Isuzu Motors Ltd., and Agility Fuel Systems Inc. The report provides comprehensive information like company profile, sales, revenue, market share and contact information.
Joint ventures, agreements, partnerships, collaborations, expansion in different countries, and strengthening supply chain network with distributors are some of the strategies taken by pioneers in automotive natural gas market, to increase their global presence. On June 7th 2014, Canadian Natural Gas Vehicle Alliance has asked Canadian Government to bring reforms for natural gas vehicles in the country by next fiscal year in order to reduce carbon emissions. FedEx Freight on 13th September 2016 purchased one hundred natural gas powered tractors and fuel stations (CNG stations) in Oklahoma City Service Centre to supplement its growing freight service. Research & development investments are high with the urge to develop quality and environmental friendly products as per regulatory standards of nation states.
The research report analysed automotive natural gas vehicle market geographically. Region wise the report is segmented as North America, Europe, Asia Pacific, and Rest of the World.
North America is the dominant market for automotive natural gas vehicle market followed by Latin America, Europe, Asia Pacific, and Middle East & North Africa. Countries like Russia and Ukraine are the leading markets for automotive natural gas vehicle market in Europe. The market in Europe is dominated by commercial vehicles, especially in Eastern Europe. Increasing gasoline cost, environmental regulations, and government subsidies are the factors propelling demand for automotive natural gas vehicle market in Europe.
Asia Pacific is the fastest growing market for automotive natural gas vehicle market for the forecasted period. Positive economy forecast, increasing demand for automobiles, growing demand for clean transportation, and government regulations towards environment are the factors driving automotive natural gas vehicle market in the region. Developing economies like India & China, and Iran are the leading countries in Asia Pacific for automotive natural gas vehicle market.
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