Market Share of CNG LPG Vehicle Industry
The CNG and LPG vehicle market is dominated by several global and local players. Some of the major players are Hyundai Motor Company, Suzuki Motor Corporation, Nissan Motor Co. Ltd, Volkswagen AG, and Honda Motor Company. The major companies are launching new products and forming joint ventures to cement their market positions. For instance:
- In June 2024, at the Bharat Mobility Global Expo 2024, Tata Motors unveiled the Nexon iCNG, marking the fifth introduction to Tata's CNG lineup. Notably, the Nexon iCNG is the first turbo-petrol car equipped with a factory-fitted CNG kit. This innovative offering showcases Tata's commitment to eco-friendly and efficient mobility solutions.
- In November 2023, the Indian government announced its commitment to significantly expanding the network of CNG stations, with an ambitious target to increase the count from 6,000 to 17,700 by 2030. This strategic move aims to close the gaps in the existing gas infrastructure, which is expected to substantially drive the growth of the CNG and LPG vehicle market.
CNG LPG Vehicle Market Leaders
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Hyundai Motor Company
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Suzuki Motor Corporation
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Volkswagen AG
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Ford Motor Company
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Honda Motor Co. Ltd.
*Disclaimer: Major Players sorted in no particular order
