CNG and LPG Vehicle Market - Global Industry Size, Share, Trends Analysis to 2020

Automobile engine which uses fluid petroleum gas (LPG) or even compressed natural gas (CNG) like a secondary fuel are referred to as CNG and LPG automobile. Internal combustion engines operating on LPG or CNG are well-proven technologies as well as work similar to conventional fuel-powered spark ignition engines. Each LPG and CNG mostly are used in spark-ignition engines with regard to bi-fuelled vehicles (vehicles that may operate on more than one fuel type). CNG and LPG will also be getting popularity in compression-ignition engines based vehicle for example diesel operated heavy-duty automobiles.

On the basis of vehicle type, the worldwide CNG and LPG marketplace can be categorized in 3 broad segments namely cars, light commercial vehicle industry, and others. On the basis of fuel kind the market is further segmented in LPG and CNG.

The LPG and CNG vehicle is gaining transmission in developing countries related to low-cost of CNG and also LPG over rising costs of petroleum products. Additionally CNG and LPG controlled vehicles are considered as a eco-friendly alternative of petroleum managed vehicles. The bi-fuel choices offered by LNG and LPG vehicles make them one of the favored choices among end user, primarily in terms of saving in jogging costs. Moreover cost advantages of CNG and LPG along with significant carbon emission decrease is expected to increase the LPG and CNG market internationally.

Asia Pacific is the biggest market for CNG along with LPG vehicle followed by European countries and North America. Iran, Indian, and Pakistan are the main market of CNG in addition to LPG vehicles in Asian countries pacific. Italy is the greatest market of CNG as well as LPG operated vehicle within Europe. The current growth is actually highest in Asia Pacific cycles and it is expected that cost conscious consumers coupled with growing crude oil prices in this area will keep the growth rate constant during the forecasted period. The actual strict emission standard through European Union (EU) is traveling the market of CNG and also LPG in Europe.

A few of the leading global players within original equipment manufacturing (OEM) market place of CNG and LPG include, Fiat S. G. A., Ford Motor Organization, General Motors, Hyundai Electric motor Group, Suzuki Motor Company, Volkswagen and Honda Engine Co., Ltd. Some of the top aftermarket players include, Landi Renzo, Impco, Venchurs, Westport, and Tomasetoo Achile.

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