Automotive Natural Gas Vehicle Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 16, 2024 /EINPresswire.com/ -- The automotive natural gas market has experienced robust growth in recent years, expanding from $11.52 billion in 2023 to $12.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to energy security concerns, emissions reduction, abundance of natural gas, cost savings, government policies.

What Is The Estimated Market Size Of The Global Automotive Natural Gas Vehicle Market And Its Annual Growth Rate?
The automotive natural gas market is projected to continue its strong growth, reaching $16.32 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to stricter emissions standards, renewable natural gas, electrification synergies, global expansion of infrastructure, energy transition policies, increased urbanization, consumer education and awareness.

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Growth Driver Of The Automotive Natural Gas Vehicle Market
The rise in disposable income is expected to drive the automotive natural gas vehicle market. Disposable income is the amount of money an individual or household has available for spending and saving after taxes and other mandatory deductions. The consumers will be more inclined to invest in automobiles, which will raise the demand for automotive natural gas vehicle.

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Which Market Players Are Driving the Automotive Natural Gas Vehicle Market Growth?
Key players in the automotive natural gas market include Hexagon Composites ASA, AB Volvo, Beiqi Foton Motor Co. Ltd., CNH Industrial NV, Clean Energy Fuels Corp., Cummins Engine Company Inc.

What Are the Emerging Trends Shaping the Automotive Natural Gas Vehicle Market Overview?
Product innovations have emerged as the key trend gaining popularity in the automotive natural gas vehicle market. Major market players are concentrating their efforts on creating innovative technologies to reduce greenhouse gas emissions.

How Is The Global Automotive Natural Gas Vehicle Market Segmented?
1) By Vehicle Type: Light-Duty Vehicle, Medium-Duty Vehicle, High-Duty Vehicle
2) By Fuel Type: CNG, LNG
3) By Application: Commercial Vehicles, Passenger Cars

Geographical Insights: Asia-Pacific Leading The Automotive Natural Gas Vehicle Market
Asia-Pacific was the largest region in the automotive natural gas vehicle market in 2023.The regions covered in the automotive natural gas vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Automotive Natural Gas Vehicle Market Definition
An automotive natural gas vehicle refers to an alternative fuel vehicle that operates with natural gas as the fuel rather than gasoline or diesel. These are lower-cost vehicles than gasoline and diesel and provide a long-lasting and secure fuel supply. The automotive natural gas vehicle provides high mileage and comfort with low emissions.

Automotive Natural Gas Vehicle Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global automotive natural gas market report covering trends, opportunities, strategies, and more
The Automotive Natural Gas Vehicle Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive natural gas market size, automotive natural gas market drivers and trends, automotive natural gas market major players, automotive natural gas competitors' revenues, automotive natural gas market positioning, and automotive natural gas market growth across geographies. The automotive natural gas market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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