January 18, 2017 - 11:43 AM EST
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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  ...

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.

Request a sample report: http://www.technavio.com/request-a-sample?report=55768

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.

Browse Related Reports:

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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 [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770

Source: Business Wire (January 18, 2017 - 11:43 AM EST)

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