North America Automotive Natural Gas Vehicle Market Size & Outlook
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North America automotive natural gas vehicle market highlights
- The North America automotive natural gas vehicle market generated a revenue of Thousand 221.6 units in 2021.
- The market is expected to grow at a CAGR of 2.4% from 2022 to 2028.
- In terms of segment, cng was the largest revenue generating fuel type in 2021.
- CNG is the most lucrative fuel type segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2022 to 2028.
North America data book summary
| Market revenue in 2021 | Thousand 221.6 units |
| Market revenue in 2028 | Thousand 261.6 units |
| Growth rate | 2.4% (CAGR from 2022 to 2028) |
| Largest segment | Cng |
| Fastest growing segment | CNG |
| 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, North America region accounted for 0.7% 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 |
|---|---|---|---|---|
| Westport Fuel Systems Inc | View profile | 1715 | 1691 West 75th Avenue, Suite 101, Vancouver, BC, Canada, V6P 6P2 | https://www.wfsinc.com |
| PACCAR Inc | View profile | 32400 | 777-106th Avenue N.E., Bellevue, WA, United States, 98004 | https://www.paccar.com |
| Clean Energy Fuels Corp | View profile | 566 | 4675 MacArthur Court, Suite 800, Newport Beach, CA, United States, 92660 | https://www.cleanenergyfuels.com |
| Agility | View profile | 10001+ | Singapore, Central Region, Singapore, Asia | http://www.agility.com |
| Navistar | View profile | 10001+ | Lisle, Illinois, United States, North America | http://www.navistar.com |
| Cummins Inc | View profile | 75500 | 500 Jackson Street, Box 3005, Columbus, IN, United States, 47202-3005 | https://www.cummins.com |
| Volvo AB ADR | View profile | 104905 | Gropegardsgatan 2, Gothenburg, Sweden, 417 15 | https://www.volvogroup.com |
| CNH Industrial NV | View profile | 40496 | Cranes Farm Road, Basildon, Essex, London, United Kingdom, SS14 3AD | https://www.cnhindustrial.com |
North America 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 94.68% in 2021. Horizon Databook has segmented the North America automotive natural gas vehicle market based on cng, lng covering the revenue growth of each sub-segment from 2016 to 2028.
The Natural Gas research and development program by California Energy Commission focuses on the energy efficiency, conservation, infrastructure, transportation, and environmental issues in regard with natural gas. Continuous natural gas R&D activities by the National Renewable Energy Laboratory have led to technological advancements in the last decade.
The federal government of Mexico has implemented Five Year Plan (2015—2019) for the natural gas transportation and storage system expansion. This plan is directed towards the infrastructure development and the upgrade for natural gas transportation throughout the country.
The clean fuel standard regulatory framework published by Environment and Climate Change Canada in Dec 2017. Through the clean fuel standard, Canadian government aims to achieve reductions of 30 megatons in greenhouse gas emissionsby the year 2030.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America automotive natural gas vehicle market, including forecasts for subscribers. This continent databook contains high-level insights into North America automotive natural gas vehicle market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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North America Automotive Natural Gas Vehicle Market Share, 2021 & 2028 (Thousand Units)
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