North America and Europe Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) Vehicles market will reach 986.82 million US$ by the end of 2024

Publisher: QYResearch
Published Date: 2019/10/25

The North America and Europe CNG and LPG vehicle market is expected to reach USD 986.82 million by 2024, growing at a CAGR of more than 2.79% from 836.39 million in 2018; the actual sales are about 65.80 K Units in 2018. Global Info Research analysis of the CNG and LPG vehicle market indicated that Italy would account for the highest sales in 2024 as a result of mature market, but Spain and France has the highest growth rate.

The CNG vehicle and LPG vehicle is classified into the passenger vehicle and commercial vehicle according to the product type. As of 2018, passenger vehicle segment dominates the sales market contributing more than 92% of the total market share, reach to 60.64 K Units in North America and Europe.

The CNG vehicle and LPG vehicle market is concentrated market; key players include Volkswagen, Fiat Chrysler, Ford, General Motors, Toyota, Nissan, Volvo Group, Hyundai, Honda, Mercedes-Benz, Renault, PSA; the revenue of top ten manufacturers accounts about 87% of the total sales in 2018.

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