Market Research Future published report on “Global CNG vehicles Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023. 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 by the end of the forecast period of 2018-2025, reveals Market Research Future (MRFR) in an exhaustive study. Fueled by renewed interest in the usage of natural gas as a vehicular fuel, the global CNG vehicle market has expanded significantly in the past decade. Global CNG vehicles Market Research Report Categories By Product Type (OEM, Car Modification), By Application (Personal use, Commercial use), By Region Forecast to 2025
Browse Complete Report Information At: https://www.marketresearchfuture.com/reports/cng-vehicles-market-6497
This MRFR market perspective presents an objective outlook towards the global market for CNG vehicles. It also includes a seven-year (2018-2025) market forecast, until 2025. The research document includes a comprehensive discussion on the market dynamics as well as sub-markets of CNG vehicles. The sub-markets comprise OME CNG vehicle products and car modification CNG vehicle products. In the report, revenue analysis based on major application areas for CNG vehicle covers personal use and commercial use.
MRFR’s report offers a detailed segmental analysis of the market based on product type and application. By product type, the market has been segmented into OEM and car modification. The car modifications segment accounted for the largest share of the market in 2017 and is expected to be the largest as well as the fastest growing segment over the forecast period. The hike in fuel price and high demand for environment-friendly vehicles is likely to induce demand for car modifications in the aftermarket. The increase in product ranges of CNG conversion kit for cars, trucks, and buses will further boost the demand for car modification. By application, the market has been segmented into personal use and commercial use. The personal use segment is expected to be the largest as well as the fastest growing segment over the forecast period. The rise in affordability and growing refueling stations for CNG vehicles is expected to drive the growth for personal use of CNG vehicles over the forecast period.
The Rest of the world is one of the key markets of the CNG vehicles market and accounts for a majority of 46% share of the global CNG vehicles market. Iran, Pakistan, Brazil, Argentina, Thailand, South Africa, Egypt, Iraq, Columbia, and others are the major contributors to the Rest of the World market. The governments in these economies have initiated various moves to such as tax reduction for CNG vehicles, subsidiary initiatives, affordable pricing and stringent emission norms which has created a conducive environment for the growth of the global CNG vehicles market. Iran has been a front-runner in promoting the use of CNG vehicles. Iran has mandated all new cars to have dual fuel capacity which makes Iran one of the major countries selling CNG vehicles worldwide. Pakistan is another significant country in the Rest of the World market driven by a hike in gasoline prices and government regulations on environmental pollution. Countries in the GCC belt such as Dubai and Saudi Arabia are also encouraging awareness about the benefits of CNG vehicles and developing fuel filling infrastructure which is contributing to the growth of the market.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
Read More On Global CNG vehicles Market: https://www.marketwatch.com/press-release/cng-vehicles-market-2018-global-industry-analysis-by-size-share-trends-growth-sales-aftermarket-opportunities-regional-and-competitive-landscape-forecast-to-2023-2018-10-12
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Office No. 528,
Amanora Chambers Magarpatta Road,
Phone: +1 646 845 9312