Energia
CNG and LPG Vehicle Market Sales Volume To Reach 102.3 Million Units by 2030: P&S Intelligence
The COVID-19 pandemic has almost stopped the CNG and LPG vehicle market growth in its tracks, as factory shutdowns have led to a slump in their production. Moreover, with restrictions on non-essential movement, the demand for transportation services has reduced significantly, which is why ride-hailing companies are not purchasing cars currently. Even individuals are not buying automobiles because of the widespread financial distress due to salary cuts and unemployment.
The CNG bifurcation is predicted to keep holding the larger share in the CNG and LPG vehicle market in the coming years, based on fuel type. Due to environmental concerns, the demand for CNG vehicles is growing around the world, especially in the emerging economies of Asia-Pacific (APAC).
In the years to come, the bus category will grow the fastest in the CNG and LPG vehicle market, on the basis of vehicle type. With efforts on to reduce the rate of environmental degradation, many countries around the world are including CNG buses in their public transportation fleets. For instance, since December 2002 , Delhi Transport Corporation (DTC) has been operating an all-CNG bus fleet, with orders for 1,000 more given in January 2021 .
APAC is the largest CNG and LPG vehicle market presently owing to the growing automotive industry of Japan , China , India , and South Korea . The Latin America , Middle East , and Africa (LAMEA) region will witness the fastest increase in the sale of CNG and LPG vehicles in the near future, as the economic growth in Brazil , Mexico , and other developing countries here is allowing people to spend more on automobiles.
Major players in the global CNG and LPG vehicle market are General Motors Co., Ford Motor Co., Toyota Motor Corporation, Fiat Chrysler Automobiles N.V., Tata Motors Ltd., Honda Motors Co. Ltd., Daimler AG, AB Volvo, Volkswagen AG, and Suzuki Motors Corp.
The Asia-Pacific accounted for the largest share of the electric scooter and motorcycle market in the past and is predicted to maintain its dominance over the market in the years to come as well.
https://www.psmarketresearch.com/market-analysis/electric-scooter-and-motorcycle-market
Geographically, the Asia-Pacific region has emerged as the largest electric truck market in the past and is further is expected to create the largest demand for these trucks in the near future as well.
https://www.psmarketresearch.com/market-analysis/electric-truck-market
P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Prajneesh Kumar
P&S Intelligence
Contact: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg