Research and Markets: 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
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
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
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
Fiat Chrysler Automobiles
For more information visit http://www.researchandmarkets.com/research/ps3hlj/cng_and_lpg
View source version on businesswire.com: http://www.businesswire.com/news/home/20150923005552/en/
Copyright Business Wire 2015
Source: Business Wire
(September 23, 2015 - 5:24 AM EDT)
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