DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/ps3hlj/cng_and_lpg) has announced the addition of the "CNG & LPG Vehicle Market by Vehicle Type (Passenger Cars & Light Commercial Vehicles), Fuel Type (CNG & LPG), and by Geography (Asia-Pacific, Europe, Americas & ROW) - Industry Trends & Forecasts to 2020" report to their offering.
The automotive CNG and LPG vehicle market is projected to reach USD 3,576.3 Million by 2020 from USD 2165.5 Million in 2015. Asia-Pacific accounts for the largest market share in the automotive CNG and LPG vehicle market. This can be attributed to the growing demand for vehicles, increasing penetration of alternative fuel, and upcoming emissions norms in the region.
China is the largest market by value for automotive CNG and LPG vehicle market in Asia-Pacific followed by India and Thailand. The Asia-Pacific LPG market is growing at a CAGR of 3.82% from 2015 to 2020 in terms of value. Europe LPG market size by value is growing at a CAGR of 5.76% during the forecast period. The market in the region exhibits strong inclination towards gasoline-powered vehicles due to strict emission standards.
The market for CNG and LPG vehicle in RoW and America has reached maturation phase and is stable following a slump in production and increasing competition from emerging economies in Asia-Pacific and Europe. However, with the implementation of Euro VI norms by 2017, the demand for CNG and LPG vehicle market is expected to grow. Cost effectiveness is one of major factor; which would propel the growth of CNG and LPG vehicle market.
Key drivers for the automotive CNG and LPG vehicle market include cost effectiveness, fuel efficiency, and stringent emission standards. However, factors such as demand for diesel, petrol vehicles due to low infrastructure of alternative fuel may limit the growth of the market.
Key Topics Covered
- Introduction
- Research Methodology
- Executive Summary
- Premium Insights
- Market Overview
- Technical Overview
- CNG & LPG Market, By Fuel Type
- CNG & LPG Vehicle Market, By Vehicle Type
- CNG & LPG Vehicle Market, By Region
- CNG & LPG Vehicle Aftermarket Overview
- Cost Comparison Overview On Ownership Of CNG & LPG Vehicles To Gasoline Vehicles
- Competitive Landscape
- Company Profiles
- Appendix
Companies Mentioned
- AC Spolka
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Fiat Chrysler Automobiles
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Ford Motor
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General Motors
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Honda Motor
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Hyundai Motor
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Kion
- Landi Renzo
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Nikki
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Suzuki Motor
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Volkswagen
For more information visit http://www.researchandmarkets.com/research/ps3hlj/cng_and_lpg
