Top 5 Vendors in the Global Light- and Heavy-duty Natural Gas Vehicle Market from 2017-2021: Technavio
Technavio
has announced the top five leading vendors in their recent global
light- and heavy-duty natural gas vehicle (NGV) market report
until 2021. This research report also lists 15 other prominent vendors
that are expected to impact the market during the forecast period.
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Technavio has published a new report on the global light- and heavy-duty natural gas vehicle market from 2017-2021. (Photo: Business Wire)
“The global light- and heavy-duty natural gas vehicle market is
projected to display a CAGR of almost 6% through the forecast period, of
which maximum revenue is created by the sale of light duty natural gas
vehicles. The most important driving factor in this market is the
stricter emission standards that are being witnessed across the globe,”
says Thanikachalam Chandrasekaran, one of the lead analysts at
Technavio for automotive
manufacturing research.
Reducing automotive emissions and fuel consumption are the main
objectives behind setting tougher emission norms. Such regulations will
lead to the increased adoption of NGVs especially in the light
commercial vehicle (LCV) and heavy commercial vehicle
(HCV) segments. Since nitrogen oxide emissions are higher in diesel
engines, it calls for mandatory installation of urea filters to
reduce nitrox emissions, which will further boost the sales of natural
gas vehicles.
Competitive vendor landscape
The global
light and heavy-duty natural gas vehicle market is
dominated by key players like Daimler Trucks, General Motors,
CNH Industries, Volvo Trucks, and MAN Truck and Bus.
These vendors constantly face a threat from the new entrants in the
market space. The vendors are under additional pressure to appease the
customers as they can always opt for aftermarket installations. But,
since the market is still at a nascent stage, there is a large potential
for growth. The vendors are strategically capitalizing on this potential
by carrying out innovative marketing strategies.
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Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.
Top five vendors in the global light- and heavy-duty natural gas
vehicle market:
CNH Industrial
CNH Industrial is a capital goods manufacturing company. Its product
portfolio includes agricultural equipment, construction equipment,
commercial vehicles, and powertrains. The brands under CNH Industrial
include STEYR, CASE, NEW HOLLAND, IVECO, IVECO ASTRA, IVECO BUS,
MAGIRUS, IVECO Defence Vehicles, HEULIEZ Bus, and FPT. IVECO, IVECO BUS,
and HEULIEZ Bus are the brands that manufacture commercial vehicles.
Daimler Trucks
Daimler Trucks develops and manufactures trucks under the brand names
Mercedes-Benz, Western Star, Thomas Built Buses, Freightliner,
BharatBenz, and FUSO. The brand Mercedes-Benz provides customized
solutions for the medium and heavy-duty truck segment. While
Freightliner is the best-selling heavy-duty truck brand in North
America, Thomas Built Buses is one of the leading school bus
manufacturers.
General Motors
General Motors undertakes the designing, manufacturing, and marketing of
cars, trucks, crossovers, and automobile parts worldwide. The company
also provides automotive financing services through its subsidiary GM
Financial. The company operates mainly through the GM Automotive segment
and the GM Financial segment.
MAN Truck & Bus
MAN Truck & Bus is one of the leading manufacturers of commercial
vehicles and mechanical engineering equipment in Europe. Its product and
service offerings include trucks, buses, engines and components, marine
engines and systems, power plants, compressors, gas turbines,
turbomachinery, reactors and apparatus, and turbochargers.
Volvo Trucks
Volvo Trucks is engaged in the production and commercialization of
heavy-duty trucks. The company provides a wide range of heavy-duty
trucks, tractors, engines, and accessories. Ninety-five percent of its
trucks come under the heavy weight class of over 16 tons. Also, it
operates through an extensive network of 2,300 dealers and workshops in
EMEA, North America, Asia, South America, and Australia.
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About Technavio
Technavio
is leading global technology research and advisory company. The company
develops over 2000 pieces of research every year, covering more than 500
technologies across 80 countries. Technavio has about 300 analysts
globally who specialize in customized consulting and business research
assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
If you are interested in more information, please contact our media team
at media@technavio.com.
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