Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the CNG And LPG Vehicle Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Projected Market Size of the CNG And LPG Vehicle Industry in 2024 and 2025?
The market size of the CNG and LPG vehicle has experienced robust growth in recent years. The market is projected to increase from $4.19 billion in 2024 to $4.51 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.7%.
What Is the Projected Market Size of the CNG And LPG Vehicle Market in 2029?
The CNG and LPG vehicle market is projected to reach $6.02 billion in 2029, expanding at a compound annual growth rate (CAGR) of 7.5%.
Download the Free Sample Now:
What Are the Key Drivers of CNG And LPG Vehicle Market Growth?
The key drivers in the cng and lpg vehicle market are:
• The rise of stricter emission regulations
• Integration of renewable energy
• Increasing urbanization and congestion challenges
• Shift towards sustainable mobility and market expansion strategies
What Are the Primary Segmentation Categories in the CNG And LPG Vehicle Market?
The cng and lpg vehicle market covered in this report is segmented –
1) By Fuel Type: Compressed Natural Gas (CNG), Liquefied Petroleum Gas(LPG)
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Sales Channel: Original Equipment Manufacturer(OEM), Retrofitting
Explore the Complete Market Report:
What Are the Major Trends Shaping the CNG And LPG Vehicle Market in 2025 and Beyond?
The key trends in the cng and lpg vehicle market are:
• The adoption of biogas and bio-LPG is a major upcoming trend.
• Advanced vehicle technologies are increasingly integrated with CNG and LPG vehicles.
• The future of the market is also shaped by the expansion of Mobility-as-a-Service (MaaS) solutions.
• Emergence of next-generation infrastructure and shift towards circular economy models are considerable trends.
Who Are the Emerging Players in the CNG And LPG Vehicle Market?
Major players in the cng and lpg vehicle market are:
• Volkswagen AG
• Ford Motor Company
• General Motors
• Tata Group
• Honda Motor Co. Ltd.
• Hyundai Motor Group
• Nissan Motor Co. Ltd.
• Groupe Renault
• AB Volvo
• Suzuki Motor Corporation
• Cummins Inc.
• IVECO S.p.A.
• KION GROUP AG
• Scania AB
• MAN Truck & Bus AG
• Navistar Inc.
• Chart Industries Inc.
• Clean Energy Fuels Corp.
• Westport Fuel Systems Inc.
• Landi Renzo S.p.a.
• Hexagon Agility Inc.
• AC S.A.
• CNG Fuels Ltd.
• Fiat Chrysler Automobiles
• Clean Fuels Ohio
Which Regions Are Leading the Growth in the Global CNG And LPG Vehicle Market?
Asia-Pacific was the largest region in the CNG and LPG vehicles market in 2024
