Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market Insights, Forecast to 2028

LNG is odorless, colorless, non-toxic and non-corrosive. Hazards include flammability after vaporization into a gaseous state, freezing and asphyxia. The liquefaction process involves removal of certain components, such as dust, acid gases, helium, water, and heavy hydrocarbons, which could cause difficulty downstream. The natural gas is then condensed into a liquid at close to atmospheric pressure by cooling it to approximately −162 °C (−260 °F); maximum transport pressure is set at around 25 kPa (4 psi ).


Compressed natural gas is a kind of natural gas used as a fuel. As an alternative energy source for petroleum, it is a much safer option among environmentally friendly clean fuels than other fuels when they leak. Generally, compressed natural gas is used to reduce the volume pressure to 1% of standard atmospheric pressure. Stored in a cylindrical or spherical pressure vessel at 2900-3600 psi. As long as the traditional gasoline internal combustion engine vehicles converted into dual-fuel vehicles can use natural gas, they are more compatible with existing equipment than other energy sources.
Market Analysis and Insights: Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Market
Due to the COVID-19 pandemic, the global Compressed Natural Gas and Liquefied Natural Gas Vehicle market size is estimated to be worth US$ million in 2022 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the review period. Fully considering the economic change by this health crisis, CNG Vehicle accounting for % of the Compressed Natural Gas and Liquefied Natural Gas Vehicle global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Home Use segment is altered to an % CAGR throughout this forecast period.
China Compressed Natural Gas and Liquefied Natural Gas Vehicle market size is valued at US$ million in 2021, while the US and Europe Compressed Natural Gas and Liquefied Natural Gas Vehicle are US$ million and US$ million, severally. The proportion of the US is % in 2021, while China and Europe are % and % respectively, and it is predicted that China proportion will reach % in 2028, trailing a CAGR of % through the analysis period. Japan, South Korea, and Southeast Asia are noteworthy markets in Asia, with CAGR %, %, and % respectively for the next 6-year period. As for the Europe Compressed Natural Gas and Liquefied Natural Gas Vehicle landscape, Germany is projected to reach US$ million by 2028 trailing a CAGR of % over the forecast period.
The global key manufacturers of Compressed Natural Gas and Liquefied Natural Gas Vehicle include Maruti Suzuki, Volkswagen, Fiat, Honda, General Motors, Renault, Hyundai, Ford and Toyota, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
In terms of production side, this report researches the Compressed Natural Gas and Liquefied Natural Gas Vehicle capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of Compressed Natural Gas and Liquefied Natural Gas Vehicle by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
Global Compressed Natural Gas and Liquefied Natural Gas Vehicle Scope and Segment
Compressed Natural Gas and Liquefied Natural Gas Vehicle market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Compressed Natural Gas and Liquefied Natural Gas Vehicle market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.
Segment by Type
CNG Vehicle
LNG Vehicle
Segment by Application
Home Use
Commercial Use
By Company
Maruti Suzuki
Volkswagen
Fiat
Honda
General Motors
Renault
Hyundai
Ford
Toyota
Iran Khodro
Volvo Group
PSA
Mercedes-Benz
Great Wall Motors
Production by Region
North America
Europe
China
Japan
South Korea
India
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE