Over the projection period, it is predicted that the market for CNG and LPG vehicles would expand at a moderate rate (CAGR) of 4.5%. According to current estimates, the CNG and LPG car industry will be worth US$ 5243.3 million in 2022. By the year 2032, it is expected that the market for CNG and LPG vehicles will have peaked at US$ 8153.1 million.
The market report on compressed natural gas (CNG) and liquefied petroleum gas (LPG) vehicles provides an in-depth examination of the operating principles, main business tactics, and relative market positions of some of the most significant competitors in this field. Some of the most significant players in this field have distinct tactics and market shares. The comprehensive analysis provides market statistics in terms of revenues, segment-specific data, regional data, and country-specific data in addition to an in-depth commentary on the key affecting variables. One of the most thorough studies that examine every aspect of the developing market for CNG and LPG automobiles is this one.
Combinations of highly flammable hydrocarbons with a high calorific value make up LPG. CNG, however, is made from natural gas, which is primarily composed of methane (CH4). CNG is made from natural gas under high pressure.
- GAIL India ltd.
- Fiat Group
- General Motors Group