Fact.MR published an exclusive forecast report for the CNG vehicles market between 2018 and 2027. The foremost objective of this report on CNG vehicles market is to pitch spearhead insights on market scenario, demand generators and technological advancements in CNG vehicles market. Also, the study on CNG vehicle market addresses key dynamics are expected to diversify the sales and future prominence of CNG vehicles market.
The use of natural gas as a vehicular fuel has expanded considerably in the past decade with the growing number of cities embarking on CNG vehicles. Though natural gas is touted as the energy source for industrial, residential and commercial processes, vehicles operate by modifying an engine designed to run on diesel or gasoline or through the use of engines designed specifically for natural gas.
It becomes imperative to deduce that indigenous capacity to produce natural gas vehicles has empowered large scale make over to gaseous fuel. The bus industry is gradually adapting and indigenizing the technology quickly. On the other hand, though car industry has been slow to respond, the industry has started to show interest in product diversification. This has been fueled largely by the rising consumer interest in CNG cars and augmentation in aftermarket conversion.
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In the interest of pollution abatement strategy and long term investments, manufacturers are vying to choose a technology approach that will be efficacious with respect to both PM and NOx reduction potential. Nevertheless, PM emissions benefits of CNG technology have already been proven for stoichiometric and lean burn, NOx emissions reduction capability of the two technology approaches can vary.
According to the study, CNG vehicles fleet rose to 18 per cent in 2018 across the globe. The growing support of governments on curbing fuel emissions and encouraging natural gas powered vehicle production are expected to further the growth of CNG Vehicles Market.
CNG Vehicles Market: Overview
The report presents a coherent analysis on the CNG vehicles market that is bolstered by quantitative and qualitative analysis. In addition, the report delineates the happenings in the market which have bearing on the growth of the CNG vehicles market, comprising drivers, restraints, trends and opportunities. Further, the report also sheds light on segmentation to exhibit an exhaustive analysis of the CNG vehicles market.
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The report also delineates executive summary, overview section, which are aimed at revealing a thorough analysis of the CNG vehicles market. Besides, the market overview section peruses into supply chain, cost structure and pricing analysis along with PESTLE analysis to present a thorough analysis on the CNG vehicles market. Moreover, the overview section also sheds light on Porters’ Five Force analysis which is known to help in assimilating competitive scenario with regards to CNG vehicles market.
Primary sources and secondary sources have been used to provide a judicious and unbiased analysis on CNG vehicles market. As such, the secondary research banks on EC filing, trade journals, resourceful database and Factiva. On the other hand, the report relies upon primary research, incorporating veracious and unbiased assessment from seasoned analyst, genuine analysis from pundits and surveys and telephonic interview. Furthermore, the report throws light on absolute dollar opportunity analysis and Y-o-Y projections to offer a thorough analysis of the market.
CNG vehicles Market: Competitive Landscape
The robust assessment of competitive landscape of the CNG vehicles market heavily banks on Porters’ Five Force Analysis. Furthermore, the Porters’ Five Force Analysis delves into the strategies of the pertinent players in the CNG vehicles market. Furthermore, the deep dive analysis of the key players and their business strategies are backed up by company profile, SWOT analysis, product portfolio and recent development, key differentiation, to name a few.
Key players operating in the global market for CNG vehicles, include Ford Motor Company, Fiat Chrysler Automobiles, General Motors, Honda Motor Company, Volkswagen, Hyundai Motor Group, Suzuki Motor Corporation, Great Wall Motors, Iran Khodro, and others. Some of the aftermarket players in the CNG Vehicles market are Landi Renzo, Impco, Venchurs, Westport, Tomasetoo Achile, and others. The competition among the existing market players is very high. Therefore, to survive & succeed in such a competitive environment, manufacturers must distinguish their product offering through innovative & unique products.
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