Automotive Natural Gas Vehicle Market: By Fuel Type, By Vehicle Type and Geography
Automotive Natural Gas Vehicle Market: By Fuel Type, By Vehicle Type and Geography
Automotive Natural Gas Vehicle Market will be valued at US$ 11.2 billion in 2022 and is poised to grow at a CAGR of 6.5% from 2023 to 2029. The global market provides a detailed overview of the Automotive Natural Gas Vehicle Market, which has been segmented by fuel type and vehicle type. The market has been segmented by fuel type into Compressed Natural Gas and Liquefied Natural Gas. The Compressed Natural Gas segment is likely the largest and fastest-growing in terms of fuel type. Based on vehicle type, the automotive natural gas vehicle is segmented into Passenger Vehicle, Light-duty & Heavy-duty Buses and Trucks, and Three-wheelers. According to precision business insights, the Passenger Vehicles Type segment is anticipated to register the fastest growth rate during the forecast period.
Study Period
2024-2030Base Year
2023CAGR
6.5%Largest Market
Asia-PacificFastest Growing Market
Asia-Pacific
Government rules governing environmental protection and greenhouse gas (GHG) emissions are getting increasingly strict worldwide. As a result, natural gas is increasingly being used in various applications across numerous industries, which is expected to drive market growth.
The Asia Pacific market is expected to witness the highest market share during the forecast period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 11.2 billion |
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Market CAGR |
6.5% |
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By Fuel Type |
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By Vehicle Type |
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By Region |
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The automotive natural gas vehicle market is projected to expand at a CAGR of 5.2% during the forecast period.
The major players in the global automotive natural gas vehicle market are Agility Fuel Solutions, AB Volvo, Beiqi Foton Motor Co., Ltd., CNH Industrial N.V., Clean Energy Fuels, Cummins, Inc., PACCAR, Inc., Navistar, Inc., Quantum Fuel Systems LLC, Westport Fuel Systems Inc.
Asia Pacific is the fastest-growing region for automotive natural gas vehicle market
| 1. Executive Summary |
| 2. Global Automotive Natural Gas Vehicle Market Introduction |
| 2.1. Global Automotive Natural Gas Vehicle Market Taxonomy |
| 2.2. Global Automotive Natural Gas Vehicle Market Definitions |
| 2.2.1. By Fuel Type |
| 2.2.2. By Vehicle Type |
| 2.2.3. By Region |
| 3. Global Automotive Natural Gas Vehicle Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Automotive Natural Gas Vehicle Market Dynamic Factors - Impact Analysis |
| 3.6. Global Automotive Natural Gas Vehicle Market Competition Landscape |
| 4. Global Automotive Natural Gas Vehicle Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Automotive Natural Gas Vehicle Market, By Fuel Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
| 5.1. Compressed Natural Gas |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Liquefied Natural Gas |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global Automotive Natural Gas Vehicle Market, By Vehicle Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
| 6.1. Passenger Vehicles |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Light-duty & Heavy-duty Buses and Trucks |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Three-wheelers |
| 6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global Automotive Natural Gas Vehicle Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
| 7.1. North America |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Automotive Natural Gas Vehicle Market - Opportunity Analysis Index, By Fuel Type, Vehicle Type, and Region, 2023 - 2029 |
| 8. North America Automotive Natural Gas Vehicle Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
| 8.1. Fuel Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Compressed Natural Gas |
| 8.1.2. Liquefied Natural Gas |
| 8.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1. Passenger Vehicles |
| 8.2.2. Light-duty & Heavy-duty Buses and Trucks |
| 8.2.3. Three-wheelers |
| 8.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Automotive Natural Gas Vehicle Market - Opportunity Analysis Index, By Fuel Type, Vehicle Type, and Country, 2023 - 2029 |
| 8.5. North America Automotive Natural Gas Vehicle Market Dynamics Trends |
| 9. Europe Automotive Natural Gas Vehicle Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
| 9.1. Fuel Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Compressed Natural Gas |
| 9.1.2. Liquefied Natural Gas |
| 9.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Passenger Vehicles |
| 9.2.2. Light-duty & Heavy-duty Buses and Trucks |
| 9.2.3. Three-wheelers |
| 9.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Rest of Europe |
| 9.4. Europe Automotive Natural Gas Vehicle Market - Opportunity Analysis Index, By Fuel Type, Vehicle Type, and Country, 2023 - 2029 |
| 9.5. Europe Automotive Natural Gas Vehicle Market Dynamics Trends |
| 10. Asia-Pacific Automotive Natural Gas Vehicle Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
| 10.1. Fuel Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Compressed Natural Gas |
| 10.1.2. Liquefied Natural Gas |
| 10.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Passenger Vehicles |
| 10.2.2. Light-duty & Heavy-duty Buses and Trucks |
| 10.2.3. Three-wheelers |
| 10.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. China |
| 10.3.2. India |
| 10.3.3. Japan |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Automotive Natural Gas Vehicle Market - Opportunity Analysis Index, By Fuel Type, Vehicle Type, and Country, 2023 - 2029 |
| 10.5. Asia-Pacific Automotive Natural Gas Vehicle Market Dynamics Trends |
| 11. Latin America Automotive Natural Gas Vehicle Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
| 11.1. Fuel Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Compressed Natural Gas |
| 11.1.2. Liquefied Natural Gas |
| 11.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Passenger Vehicles |
| 11.2.2. Light-duty & Heavy-duty Buses and Trucks |
| 11.2.3. Three-wheelers |
| 11.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Automotive Natural Gas Vehicle Market - Opportunity Analysis Index, By Fuel Type, Vehicle Type, and Country, 2023 - 2029 |
| 11.5. Latin America Automotive Natural Gas Vehicle Market Dynamics Trends |
| 12. Middle East and Africa Automotive Natural Gas Vehicle Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
| 12.1. Fuel Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Compressed Natural Gas |
| 12.1.2. Liquefied Natural Gas |
| 12.2. Vehicle Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Passenger Vehicles |
| 12.2.2. Light-duty & Heavy-duty Buses and Trucks |
| 12.2.3. Three-wheelers |
| 12.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Automotive Natural Gas Vehicle Market - Opportunity Analysis Index, By Fuel Type, Vehicle Type, and Country, 2023 - 2029 |
| 12.5. MEA Automotive Natural Gas Vehicle Market Dynamics Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Fuel Type Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. AB Volvo |
| 13.2.2. Agility Fuel Systems Inc. |
| 13.2.3. Clean Energy Fuels Corp. |
| 13.2.4. CNH Industrial NV |
| 13.2.5. Daimler AG |
| 13.2.6. Dongfeng Motor Group Company Limited |
| 13.2.7. Landi Renzo SPA |
| 13.2.8. Quantum Fuel Systems LLC |
| 13.2.9. Westport Fuel Systems Inc. |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
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