Global Autogas Market 2018-2022 | Increasing Use of Natural Gas in the Transportation Sector to Boost Growth | Technavio

The global autogas market is expected to post a CAGR of nearly 2% during the period 2018-2022, according to the latest market research report by Technavio.

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Technavio has published a new market research report on the global autogas market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the rising need for cleaner fuel. Globally, there are rising concerns over the amount of CO2 produced from various economic activities. CO2 emissions have been growing in accordance with an increase in economic activities. efforts by countries across the world for decarbonizing the power system by shifting to renewable energy have helped in controlling CO2 emissions.

This market research report on the global autogas market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the increasing use of natural gas in the transportation sector as one of the key emerging trends in the global autogas market:

Global autogas market: Increasing use of natural gas in the transportation sector

The transportation sector is a significant source of air pollution globally. Emissions from air, road, and water transport are largely responsible for climate change and the declining air quality in urban areas. Since this realization, a decisive move toward decarbonization of the transportation sector has been made by governments worldwide. This is partly being accomplished by the transition to natural gas vehicles.

“Stringent emissions norms aim to reduce NOx, Sox, and PM emissions from vehicles. This has made transportation companies consider natural gas vehicles as an alternative to diesel-powered vehicles as they offer benefits in terms of reduced pollutants and low fuel prices. Various companies are voluntarily adopting natural gas vehicles for sustainability,” says a senior analyst at Technavio for research on oil and gas.

Global autogas market: Segmentation analysis

This market research report segments the global autogas market by application (LDV and HDV) and geographical regions (APAC, EMEA, and the Americas).

The LDV segment held the largest market share in 2017, accounting for nearly 66% of the market. This application segment is expected to dominate the global market throughout the forecast period.

EMEA led the market in 2017 with a market share of nearly 48%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share by nearly 2%.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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View source version on businesswire.com: https://www.businesswire.com/news/home/20180829005677/en/