Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Automotive Natural Gas Vehicle Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Forecasted Market Size and CAGR for the Automotive Natural Gas Vehicle Market?
The market size of the automotive natural gas vehicle has seen robust growth recently. The market is projected to rise from $12.18 billion in 2024 to $12.85 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%.
What Is the Forecasted CAGR for the Automotive Natural Gas Vehicle Market by 2029?
The Automotive Natural Gas Vehicle Global Market is estimated to reach a value of $16.62 billion in 2029, with a compound annual growth rate (CAGR) of 6.6%.
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What Are the Market Drivers in the Automotive Natural Gas Vehicle Industry?
The key drivers in the automotive natural gas vehicle market are:
• Stricter emissions standards leading to a shift towards cleaner fuels
• Global infrastructure expansion for natural gas vehicles
• Implementation of energy transition policies
• Growing consumer education and awareness about natural gas vehicles
What Is the Segment-Wise Breakdown of the Automotive Natural Gas Vehicle Market?
The automotive natural gas vehicle market covered in this report is segmented –
1) By Vehicle Type: Light-Duty Vehicle, Medium-Duty Vehicle, High-Duty Vehicle
2) By Fuel Type: CNG, LNG
3) By Application: Commercial Vehicles, Passenger Cars
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Which Emerging Trends Are Driving Growth in the Automotive Natural Gas Vehicle Sector?
The key trends in the automotive natural gas vehicle market are:
• Dual-fuel systems are becoming a significant trend in the automotive natural gas vehicle market.
• Emphasizing lightweight vehicle design is a growing trend.
• Enhanced storage technologies are emerging as a key trend in the market.
• The development of autonomous natural gas vehicles and advanced engine management systems are shaping the future of the market.
Which Companies Are Dominating the Automotive Natural Gas Vehicle Market in Terms of Revenue?
Major players in the automotive natural gas vehicle market are:
• Hexagon Composites ASA
• AB Volvo
• Beiqi Foton Motor Co. Ltd.
• CNH Industrial NV
• Clean Energy Fuels Corp.
• Cummins Engine Company Inc.
• PACCAR International Inc.
• Navistar International Corp.
• Quantum Fuel Systems LLC
• Westport Fuel Systems Inc.
• General Motors Company
• Maruti Suzuki India Ltd.
• Ford Motor Company
• Honda Motor Co. Ltd.
• Volkswagenwerk GmbH
• Hyundai Motor Company
• Iran Khodro Industrial Group
• C&C Trucks Co. Ltd.
• Tata Engineering & Locomotive Company Ltd.
• Fiat SpA
• Régie Nationale Des Usines Renault SAS
• Caterpillar Inc.
• Shaanxi Automobile Group Co. Ltd.
• Mercedes-Benz Group AG
• Krishna Landi Renzo India Private Limited
• Toyota Motor Corporation
• Alexander Dennis Limited
• Prins Autogassystemen BV
• Stellantis N. V.
• Iveco SpA
What Are the Regions Driving Demand in the Automotive Natural Gas Vehicle Market?
Asia-Pacific was the largest region in the automotive natural gas vehicle market in 2024
