Introduction: CNGand LPG fuelled vehicles are becoming abundant in today’s growing marketscenario. These fuels are more efficient as compared to the traditional fuels,such as gasoline and diesel. Technologicalresearch and development in this area is now leading to more affordable naturalgas trucks, passenger vehicles, and also increasing number of CNG/LPG poweredrapid transit vehicles- like transit buses.
Market Dynamics: Itis a commonly noted fact that the purchasing cost of a natural gas vehicle ismore than that of a diesel or gasoline vehicle; this is mainly due to the factthat the costs of the fuel itself are lower as compared to the traditionalfuels. A number of vehicles today also offer a dual fuel option, and present anattractive option as they promise a reduction in running costs as well as theelimination of range-related disquiets. Governments around the world are alsoenacting laws and providing incentives to help build and sustain a market fornatural gas fuel and vehicles. Market Segmentation: Market By Vehicle Types Passenger Light Commercial Medium Commercial Market By Fuel Type CNG LPG Market By Geography · North America· Europe Asia pacific LAMEA Geographic analysis: Asia-Pacific:Rapid growth market, by valueThe Asia-Pacific region comprisescountries such as China, India, Thailand, and South Korea. The infrastructure growthsand industrialization that are taking place in these countries have opened upnew markets for OEMs. Though the countries here are still developing, there isa growing demand for passenger cars in these regions, that is increasinglybeing generated due to the increase in per capita income of the countries hereand thereby a demand for luxury. The infrastructural developments andindustrial investments have also propelled the growth of personal vehicles andconsequently, CNG and LPG vehicles in the region.
Europe:Stable market Europe is a matured market for theautomotive industry. Motivated by the high running cost of diesel and gasolinepowered vehicles, customers are switching over to natural gas powered vehicles.Americas: Main/Key active marketIn the American region we noticethat The United States is a mature and technologically advanced automotive market;and countries like Brazil are experiencing an increase in industries andmanufacturing facilities due to availability of economical labour and lowproduction costs in these regions.
Key Players: Some of the leading global players operating inoriginal equipment manufacturing (OEM) market of CNG and LPG include, · Fiat S.P.A.· Ford Motor Company· General Motors· Hyundai Motor Group· Suzuki MotorCorporation· Volkswagen · Honda Motor Co., Ltd.Some of the leading aftermarket players include,· Landi Renzo,· Impco, Venchurs, · Westport· Tomasetoo Achile.