NJ New Jersey, USA -- (SBWIRE) -- 01/11/2023 -- The latest study released on the Global Natural Gas Vehicles Market by AMA Research evaluates market size, trend, and forecast to 2027. The Natural Gas Vehicles market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
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Key Players in This Report Include: Maruti Suzuki (India), Volkswagen AG (Germany), Fiat Automobiles (Italy), Honda Motor Company, Ltd. (Japan), General Motors Company (United States), Groupe Renault (France), The Hyundai Motor Company (South Korea), Ford Motor Company (United States), Iran Khodro (Iran), The Volvo Group (Sweden).
Definition: A natural gas vehicle refers to an alternative fuel vehicle that uses compressed natural gas or liquefied natural gas. There is the various benefit of natural gas vehicles such as natural gas costs are lower than gasoline, natural gas is convenient and abundant, the natural gas vehicle has lower maintenance costs, the natural gas vehicle is safer, among others. The demand for natural gas vehicles has increased, due to the rising adoption of natural gas vehicles in both developed and developing countries. For instance, the U.S. Department of Energy and Natural Gas powers almost over 160,000 vehicles in the United States. Therefore, rising demand for natural gas vehicles and the increasing number of passenger cars and commercial vehicles are expected to support the growth of the natural gas vehicle market in the near future. Benefits of natural gas vehicles include:, - Reduced particulate, nitrogen oxides, and greenhouse gas emissions, - Lower cost, - Can be derived from renewable sources (biogas), - Minimal processing or refining requirements, - Safer than most liquid fuels, - Noise reductions of as much as 50%, - Reduced engine wear and With some of the stated benefits, it is very easy to see why the number of the natural gas vehicle (NGV) has more than doubled in the past 5 years. There have been around more than 15 million NGVs worldwide during the year 2011 and NGV Global has projected that this number would increase to at least five-folds, to over more than 65 million natural gas vehicles by the year 2020. Also, in May 2019, according to the Government of India, the Natural gas vehicles (NGVs) would be accountable for around more than 50% of the sales of the new three and four-wheelers in India by 2030. Henceforth, increasing the usage of natural gas vehicles which is likely to be one of the major drivers for the global natural gas vehicles market over the forecast period.
Market Opportunities:
Growing Demand from Emerging Market such as China, India, Brazil, among others
The popularity of Green Transportation in the Emerging Countries
Market Trends:
Governmental Initiative toward Natural Gas Vehicle
Market Drivers:
Growing Investments in Automobile Sector Worldwide
Strict Government Regulation Related to the Emission owing to Air Pollution
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According to U.S. Department of Energy, "The Kentucky Transportation Cabinet may establish regulations to qualify persons to perform safety inspections; modify FMVSS for state use; and identify converted vehicles and ensure compliance with applicable regulations".
The Global Natural Gas Vehicles Market segments and Market Data Break Down are illuminated below:
by Type (Dedicated, Bi-Fuel, Dual-Fuel), Application (Passenger Cars, Commercial Vehicles, Others), Form (Compressed Natural Gas (CNG), Liquefied Natural Gas (LNG))
Global Natural Gas Vehicles market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
North America (United States, Mexico & Canada)
South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Objectives of the Report
-To carefully analyze and forecast the size of the Natural Gas Vehicles market by value and volume.
-To estimate the market shares of major segments of the Natural Gas Vehicles
-To showcase the development of the Natural Gas Vehicles market in different parts of the world.
-To analyze and study micro-markets in terms of their contributions to the Natural Gas Vehicles market, their prospects, and individual growth trends.
-To offer precise and useful details about factors affecting the growth of the Natural Gas Vehicles
-To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Natural Gas Vehicles market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
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Major highlights from Table of Contents:
Natural Gas Vehicles Market Study Coverage:
It includes major manufacturers, emerging player's growth story, and major business segments of Natural Gas Vehicles market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
Natural Gas Vehicles Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
Natural Gas Vehicles Market Production by Region Natural Gas Vehicles Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
Key Points Covered in Natural Gas Vehicles Market Report:
Natural Gas Vehicles Overview, Definition and Classification Market drivers and barriers
Natural Gas Vehicles Market Competition by Manufacturers
Impact Analysis of COVID-19 on Natural Gas Vehicles Market
Natural Gas Vehicles Capacity, Production, Revenue (Value) by Region (2021-2027)
Natural Gas Vehicles Supply (Production), Consumption, Export, Import by Region (2021-2027)
Natural Gas Vehicles Production, Revenue (Value), Price Trend by Type {Dedicated, Bi-Fuel, Dual-Fuel,}
Natural Gas Vehicles Market Analysis by Application {Passenger Cars, Commercial Vehicles, Others,}
Natural Gas Vehicles Manufacturers Profiles/Analysis Natural Gas Vehicles Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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Key questions answered
How feasible is Natural Gas Vehicles market for long-term investment?
What are influencing factors driving the demand for Natural Gas Vehicles near future?
What is the impact analysis of various factors in the Global Natural Gas Vehicles market growth?
What are the recent trends in the regional market and how successful they are?
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