Asia Pacific Automotive Natural Gas Vehicle Market Size & Outlook
Asia Pacific automotive natural gas vehicle market, 2016-2028 (Thousand Units)
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Asia Pacific automotive natural gas vehicle market highlights
- The Asia Pacific automotive natural gas vehicle market generated a revenue of Thousand 16,611.6 units in 2021.
- The market is expected to grow at a CAGR of 3.5% from 2022 to 2028.
- In terms of segment, cng was the largest revenue generating fuel type in 2021.
- LNG is the most lucrative fuel type segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2022 to 2028.
Asia Pacific data book summary
| Market revenue in 2021 | Thousand 16,611.6 units |
| Market revenue in 2028 | Thousand 21,149.2 units |
| Growth rate | 3.5% (CAGR from 2021 to 2028) |
| Largest segment | Cng |
| Fastest growing segment | LNG |
| Historical data covered | 2016 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2028 |
| Quantitative units | Revenue in Thousand units |
| Market segmentation | CNG, LNG |
| Key market players worldwide | Agility, Volvo AB ADR, CNH Industrial NV, Cummins Inc, Clean Energy Fuels Corp, Navistar, PACCAR Inc, Westport Fuel Systems Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 53.6% of the global automotive natural gas vehicle market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2028.
- Europe is the fastest growing regional market and is projected to reach Thousand 2,677.2 units by 2028.
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Automotive Natural Gas Vehicle Market Scope
Automotive Natural Gas Vehicle Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific automotive natural gas vehicle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive natural gas vehicle market will help companies and investors design strategic landscapes.
Cng was the largest segment with a revenue share of 96.37% in 2021. Horizon Databook has segmented the Asia Pacific automotive natural gas vehicle market based on cng, lng covering the revenue growth of each sub-segment from 2016 to 2028.
The Chinese government is focusing on utilizing LNG in heavy duty trucks. The 13th five-year plan from the government expects a significant rise in LNG vehicles in the trucking and transportation industry. Additionally, the refueling infrastructure development targets are set by many provinces in the country.
The National Green Tribunal of India is setting stringent regulations to protect the environment from greenhouse gas emissions. In November, 2017, the tribunal will allow plying of only CNG-run vehicles in India Gandhi International Airport and the vehicles must meet required emission standards.
The hike in petrol and diesel prices and the volatile nature of oil prices will drive the demand for CNG vehicles in India. Companies such as Tata Motors (India), Maruti Suzuki India Limited (India), and Isuzu (Japan) among others are primary distributors of natural gas vehicles in Asia, thereby catering to local demand in the region.
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Our clientele includes a mix of automotive natural gas vehicle market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific automotive natural gas vehicle market, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific automotive natural gas vehicle market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Asia Pacific automotive natural gas vehicle market
Asia Pacific Automotive Natural Gas Vehicle Market Share, 2021 & 2028 (Thousand Units)
Asia Pacific automotive natural gas vehicle market
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