Global Automotive Natural Gas Vehicle Market Size & Outlook
The automotive natural gas vehicle industry worldwide is expected to reach a projected revenue of US$ 38,856.3 units by 2028. A compound annual growth rate of 3.3% is expected of the worldwide automotive natural gas vehicle industry from 2022 to 2028.
Revenue, 2021 (Thousand Units)
$30,994.5
Forecast, 2028 (Thousand Units)
$38,856.3
CAGR, 2022 - 2028
3.3%
Report Coverage
Worldwide
Global automotive natural gas vehicle market, 2016-2028 (Thousand Units)
Related Markets
Global automotive natural gas vehicle market highlights
- The global automotive natural gas vehicle market generated a revenue of Thousand 30,994.5 units in 2021 and is expected to reach Thousand 38,856.3 units by 2028.
- The market is expected to grow at a CAGR (2022 - 2028) of 3.3% by 2028.
- In terms of segment, cng accounted for a revenue of Thousand 29,685.0 units in 2021.
- LNG is the most lucrative fuel type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2021.
- Country-wise, Canada is expected to register the highest CAGR from 2022 to 2028.
Global data book summary
| Market revenue in 2021 | Thousand 30,994.5 units |
| Market revenue in 2028 | Thousand 38,856.3 units |
| Growth rate | 3.3% (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 |
Other key industry trends
- In terms of revenue, the North America accounted for 0.7% of the global automotive natural gas vehicle market in 2021.
- By country, the China is projected to lead the global market in terms of revenue in 2028.
- By country, Canada is the fastest growing regional market and is projected to reach Thousand 15.3 units by 2028.
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Automotive Natural Gas Vehicle Market Scope
Automotive natural gas vehicle market segmentation & scope
Fuel Type
CNG
LNG
Vehicle Type
Passenger Vehicles
Light & Heavy Duty Buses & Trucks
Three Wheelers
Automotive Natural Gas Vehicle Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global 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 95.78% in 2021. Horizon Databook has segmented the Global automotive natural gas vehicle market based on cng, lng covering the revenue growth of each sub-segment from 2016 to 2028.
- Global Automotive Natural Gas Vehicle Fuel Type Outlook (Volume, Thousand Units, 2016-2028)
- CNG
- LNG
- Global Automotive Natural Gas Vehicle Vehicle Type Outlook (Volume, Thousand Units, 2016-2028)
- Passenger Vehicles
- Light & Heavy Duty Buses & Trucks
- Three Wheelers
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Horizon Databook provides a detailed overview of global-level data and insights on the Global automotive natural gas vehicle market, including forecasts for subscribers. This global databook contains high-level insights into Global automotive natural gas vehicle market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Global automotive natural gas vehicle market
Global automotive natural gas vehicle market, by region, 2021 (Thousand Units)
Global automotive natural gas vehicle market
Related regional statistics
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