The Asia Pacific Automotive Natural Gas Vehicle Market would witness market growth of 6.1% CAGR during the forecast period (2022-2028).
Gasoline and diesel's volatile and destabilizing pricing structure is one of the primary factors driving the development of NGVs. Various reasons, such as the fluctuating value of the U.S. dollar, shifting supply/demand of oil, as well as the expansion of energy-intensive industries such as transportation, power, and manufacturing, are causing economic instability in the oil and gas business. These variables cause crude oil price volatility. Most governments have taken a hint from this and have already begun to expedite the manufacturing of NGVs.
As a result of urbanization and increased industrial activity, it is anticipated that the consumption of automobiles in emerging economies would surge in the coming years. Due to the growing demand for automobiles, manufacturers are progressively constructing production facilities in emerging countries. The manufacture of automobiles has increased in developing nations as a result of favorable government policies, rising GDP, and expanding consumer expenditure.
China accounted for roughly half of passenger vehicle sales in Asia-Pacific. Due to the expansion of natural gas facilities in nations like India, China, and Pakistan, this area is acknowledged as the biggest adopter of NGVs. CNG and LNG usage will undoubtedly increase in China as a result of massive infrastructure development, and natural gas would help operators reduce operating expenses. Numerous government incentives granted to encourage the usage of natural gas serves as the key market growth drivers. These factors expedite the growth of the automotive natural gas vehicle market in the region
The China market dominated the Asia Pacific Automotive Natural Gas Vehicle Market by Country in 2021; thereby, achieving a market value of $1,996.5 million by 2028. The Japan market is registering a CAGR of 5.5% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 6.8% during (2022 - 2028).
Based on Vehicle Type, the market is segmented into Passenger Vehicles, Light-duty & Heavy-duty Buses & Trucks and Three-wheelers. Based on Fuel Type, the market is segmented into CNG and LNG. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Automotive Natural Gas Vehicle Market is Projected to reach USD 14.3 Billion by 2028, at a CAGR of 5.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Volvo Group, CNH Industrial N.V., Cummins, Inc., Hexagon Agility, Inc. (Hexagon AB), Beijing Foton International Trade Co., Ltd., Clean Energy Fuels Corp., PACCAR, Inc., Navistar, Inc., Quantum Fuel Systems LLC and Westport Fuel Systems, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Vehicle Type
- Passenger Vehicles
- Light-duty & Heavy-duty Buses & Trucks
- Three-wheelers
By Fuel Type
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Volvo Group
- CNH Industrial N.V.
- Cummins, Inc.
- Hexagon Agility, Inc. (Hexagon AB)
- Beijing Foton International Trade Co., Ltd.
- Clean Energy Fuels Corp.
- PACCAR, Inc.
- Navistar, Inc.
- Quantum Fuel Systems LLC
- Westport Fuel Systems, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Automotive Natural Gas Vehicle Market, by Vehicle Type
1.4.2 Asia Pacific Automotive Natural Gas Vehicle Market, by Fuel Type
1.4.3 Asia Pacific Automotive Natural Gas Vehicle Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2019, Sep – 2022, Oct) Leading Players
Chapter 4. Asia Pacific Automotive Natural Gas Vehicle Market by Vehicle Type
4.1 Asia Pacific Passenger Vehicles Market by Country
4.2 Asia Pacific Light-duty & Heavy-duty Buses & Trucks Market by Country
4.3 Asia Pacific Three-wheelers Market by Country
Chapter 5. Asia Pacific Automotive Natural Gas Vehicle Market by Fuel Type
5.1 Asia Pacific CNG Market by Country
5.2 Asia Pacific LNG Market by Country
Chapter 6. Asia Pacific Automotive Natural Gas Vehicle Market by Country
6.1 China Automotive Natural Gas Vehicle Market
6.1.1 China Automotive Natural Gas Vehicle Market by Vehicle Type
6.1.2 China Automotive Natural Gas Vehicle Market by Fuel Type
6.2 Japan Automotive Natural Gas Vehicle Market
6.2.1 Japan Automotive Natural Gas Vehicle Market by Vehicle Type
6.2.2 Japan Automotive Natural Gas Vehicle Market by Fuel Type
6.3 India Automotive Natural Gas Vehicle Market
6.3.1 India Automotive Natural Gas Vehicle Market by Vehicle Type
6.3.2 India Automotive Natural Gas Vehicle Market by Fuel Type
6.4 South Korea Automotive Natural Gas Vehicle Market
6.4.1 South Korea Automotive Natural Gas Vehicle Market by Vehicle Type
6.4.2 South Korea Automotive Natural Gas Vehicle Market by Fuel Type
6.5 Singapore Automotive Natural Gas Vehicle Market
6.5.1 Singapore Automotive Natural Gas Vehicle Market by Vehicle Type
6.5.2 Singapore Automotive Natural Gas Vehicle Market by Fuel Type
6.6 Malaysia Automotive Natural Gas Vehicle Market
6.6.1 Malaysia Automotive Natural Gas Vehicle Market by Vehicle Type
6.6.2 Malaysia Automotive Natural Gas Vehicle Market by Fuel Type
6.7 Rest of Asia Pacific Automotive Natural Gas Vehicle Market
6.7.1 Rest of Asia Pacific Automotive Natural Gas Vehicle Market by Vehicle Type
6.7.2 Rest of Asia Pacific Automotive Natural Gas Vehicle Market by Fuel Type
Chapter 7. Company Profiles
7.1 Cummins, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional & Segmental Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.1.5.2 Product Launches and Product Expansions:
7.1.5.3 Acquisition and Mergers:
7.2 CNH Industrial N.V.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional & Segmental Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.3 Volvo Group
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Partnerships, Collaborations, and Agreements:
7.4 Hexagon Agility, Inc. (Hexagon AB)
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional & Segmental Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Partnerships, Collaborations, and Agreements:
7.4.5.2 Product Launches and Product Expansions:
7.4.5.3 Acquisition and Mergers:
7.5 Beijing Foton International Trade Co., Ltd.
7.5.1 Company Overview
7.6 Clean Energy Fuels Corp.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Regional Analysis
7.7 PACCAR, Inc.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.8 Navistar, Inc.
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Partnerships, Collaborations, and Agreements:
7.9 Quantum Fuel Systems LLC
7.9.1 Company Overview
7.10. Westport Fuel Systems, Inc.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental Analysis
7.10.4 Research & Development Expenses
7.10.5 Recent strategies and developments:
7.10.5.1 Product Launches and Product Expansions:
7.10.5.2 Acquisition and Mergers:
TABLE 1 Asia Pacific Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 2 Asia Pacific Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Automotive Natural Gas Vehicle Market
TABLE 4 Product Launches And Product Expansions – Automotive Natural Gas Vehicle Market
TABLE 5 Acquisition and Mergers – Automotive Natural Gas Vehicle Market
TABLE 6 Asia Pacific Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 7 Asia Pacific Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 8 Asia Pacific Passenger Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 9 Asia Pacific Passenger Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 10 Asia Pacific Light-duty & Heavy-duty Buses & Trucks Market by Country, 2018 - 2021, USD Million
TABLE 11 Asia Pacific Light-duty & Heavy-duty Buses & Trucks Market by Country, 2022 - 2028, USD Million
TABLE 12 Asia Pacific Three-wheelers Market by Country, 2018 - 2021, USD Million
TABLE 13 Asia Pacific Three-wheelers Market by Country, 2022 - 2028, USD Million
TABLE 14 Asia Pacific Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 15 Asia Pacific Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 16 Asia Pacific CNG Market by Country, 2018 - 2021, USD Million
TABLE 17 Asia Pacific CNG Market by Country, 2022 - 2028, USD Million
TABLE 18 Asia Pacific LNG Market by Country, 2018 - 2021, USD Million
TABLE 19 Asia Pacific LNG Market by Country, 2022 - 2028, USD Million
TABLE 20 Asia Pacific Automotive Natural Gas Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 21 Asia Pacific Automotive Natural Gas Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 22 China Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 23 China Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 24 China Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 25 China Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 26 China Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 27 China Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 28 Japan Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 29 Japan Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 30 Japan Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 31 Japan Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 32 Japan Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 33 Japan Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 34 India Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 35 India Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 36 India Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 37 India Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 38 India Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 39 India Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 40 South Korea Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 41 South Korea Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 42 South Korea Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 43 South Korea Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 44 South Korea Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 45 South Korea Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 46 Singapore Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 47 Singapore Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 48 Singapore Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 49 Singapore Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 50 Singapore Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 51 Singapore Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 52 Malaysia Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 53 Malaysia Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 54 Malaysia Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 55 Malaysia Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 56 Malaysia Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 57 Malaysia Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 58 Rest of Asia Pacific Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 59 Rest of Asia Pacific Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 60 Rest of Asia Pacific Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 61 Rest of Asia Pacific Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 62 Rest of Asia Pacific Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 63 Rest of Asia Pacific Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 64 Key information – Cummins, Inc.
TABLE 65 Key Information – CNH Industrial N.V.
TABLE 66 key Information – Volvo Group
TABLE 67 Key Information – Hexagon Agility, Inc.
TABLE 68 Key Information – Beijing Foton International Trade Co., Ltd.
TABLE 69 Key Information – Clean Energy Fuels Corp.
TABLE 70 Key Information – PACCAR, Inc.
TABLE 71 Key Information – Navistar, Inc.
TABLE 72 Key Information – Quantum Fuel Systems LLC
TABLE 73 Key Information – Westport Fuel Systems, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2019, Sep – 2022, Oct) Leading Players
FIG 5 Recent strategies and developments: Cummins, Inc.
FIG 6 Recent strategies and developments: Hexagon Agility, Inc.
FIG 7 Recent strategies and developments: Westport Fuel Systems, Inc.