Global Automotive Natural Gas Vehicle Market Ayer Hitam

  • Location: Ayer Hitam, Kedah, Malaysia

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Global Automotive Natural Gas Vehicle Market (NGV) was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of XX% during forecast period.Global Automotive Natural Gas Vehicle Market (NGV), By Fuel TypeDriving factors for the automotive natural gas vehicle (NGV) market are increasing the demand for vehicles with rising income level, rise in air pollution, continuous increase in prices of petrol and diesel, Technological advancements and government support for better automobile sector, changing climate and demanding clean cities will boost the demand for automotive natural gas vehicle market during forecast period.

Global Automotive Natural Gas Vehicle Market (NGV) Market is segmented into by fuel type, by Vehicle Type and by region. Based on fuel type, Automotive Natural Gas Vehicle (NGV) Market is classified into CNG & LNG. In Vehicle Type are divided into Passenger vehicles, Three-wheelers, Light-duty & heavy-duty buses and trucks. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Global industry Analysis and forecast 2018-2027.

Limited availability of CNG station and CNG tanks storage space can hamper the growth of Automotive Natural Gas Vehicle (NGV) Market.

In terms of Fuel Type, liquefied natural gas (LNG) segment is expected to grow at the highest XX% CAGR during the forecast period. Increasing in passenger’s car production, LNG is liquid and its filling feed is fast, which can decrease the construction of LNG station compared with the gaseous CNG, LNG vehicles lies in its good cold-start performance, strong endurance ability and less carbon deposition in cylinder will create lucrative opportunity for this segment.

In terms of Vehicle Type, Passenger vehicles segment is expected to grow at the highest XX% CAGR during the forecast period, thanks to Rise in production of vehicle across the globe are demanding more fuel efficient vehicle, government playing as supporter role for vehicle manufacturer, rise in population and trending natural gas uses will boost the market in automotive natural gas vehicle (NGV).

Among the all regions, Asia Pacific is expected to grow at the highest XX % CAGR during the forecast period. Emerging economics and stringent government policies concerning the environment. Increasing popularity of smart cities and investment in the growth of natural gas industry will create lucrative opportunity in Automotive Natural Gas Vehicle (NGV) Market.

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Published date: September 19, 2020

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