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Global The global CNG vehicle market stood at USD 1, 09,783.6 Mn in 2017 and is expected to attain a valuation of approximately USD 1, 85,000 Mn. - 2025

CNG Vehicles Market Drivers and Restraints:

The CNG vehicles market is likely to witness propulsion in growth owing to the rising awareness towards the hazardous effects

of the use of conventional energy sources to the environment. This is fueling the demand for clean energy-based vehicles for

environment-friendly transit options, driving exponential growth to the CNG vehicles market. The global CNG vehicles market is

anticipated to expand at a 5.96% CAGR during the review period, as stated in the latest MRFR report. Further, rising prices of

conventional fuels such as petrol and diesel are pivoting the consumers to adopt CNG vehicles. Additionally, supportive

government initiatives are pushing the general public to opt for CNG-based vehicles, instead of vehicles operating on petrol or

diesel. Tough regulations laid out by the government towards the emission of pollutants from automobiles is also expected to

drive the CNG vehicles market as CNG-based vehicles have the lowest carbon emissions among all types of vehicles.

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Benefits of CNG Vehicles Over Gasoline

Cheaper: CNG is considered cheap and costs almost one third the price of super gasoline, which results in savings in fuel costs.

Reduced maintenance cost: CNG does not contain any additives, burns cleanly, and does not leave any by-products behind

which contaminates engine oil and spark plugs. The engine remains clean, thereby reducing engine wear. Also, the combustion

chamber parts function at peak output for an extended period before it requires service.

Environment-Friendly: As CNG has a higher-octane rating over gasoline, CNG engines run more quietly and produce minimum

exhaust emissions. Harmful emissions like carbon dioxide, carbon monoxide, and nitrous oxide can be minimized compared to

gasoline-powered vehicles.

Safer: CNG components are specifically designed and made to international standards. They are monitored to assure safe

operation. These fuel systems are sealed, which further prevents spillage and evaporation losses.

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CNG Vehicles Market Key Players:• Daimler AG

• General Motors

• Honda Motor Co. Ltd.

• Renault, Ford Motor Company

• Fiat Chrysler Automobiles

• Toyota Motor Corporation

• Hyundai Motor Company

• Groupe PSA, Volvo Group

• Suzuki Motor Corporation

• Volkswagen Group

Industry Updates

February 27, 2019: Kwik Trip is likely to be a primary dispenser of renewable natural gas (RNG) which was produced at the Wisconsin county’s landfill biogas project once it is completed during 2019.

February 12, 2019: ECO-GATE introduced the ECO-G brand, which is designed to rename the natural gas used for CNG vehicles. ECO-GATE is a European consortium led by NEDGIA (Naturgy group’s gas distributor) and co-financed by the European Union.

Global CNG Vehicles Market Regional Analysis:

Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW) are the regional segments based on which

the MRFR report has been prepared. Rest of the World (RoW) is anticipated to account for 46% of the global CNG vehicles

market. The government authorities of many economies comprised in the RoW have introduced policies such as tax

reduction, affordable pricing, subsidies, and stringent emission regulations, hence, promoting growth in the CNG vehicles

market. South Africa, Thailand, Egypt, Iraq, Columbia, Brazil, Iran, Pakistan, and Argentina are significant contributors in

the CNG market in the RoW. Iran has made a dual fuel capacity in all cars compulsory, promoting the usage of CNG

vehicles over conventional vehicles. Whereas, Dubai and Saudi Arabia are also witnessing numerous activities creating

awareness of the advantages of CNG vehicles, hence, propelling the growth in the CNG vehicles market.

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