How big is the CNG LPG Vehicle Market?

The CNG LPG Vehicle Market size is expected to reach USD 6.73 billion in 2024 and grow at a CAGR of 7% to reach USD 10.13 billion by 2029. Read More

What is the current CNG LPG Vehicle Market size?

In 2024, the CNG LPG Vehicle Market size is expected to reach USD 6.73 billion. Read More

Who are the key players in CNG LPG Vehicle Market?

Hyundai Motor Company, Suzuki Motor Corporation, Volkswagen AG, Ford Motor Company and Honda Motor Co. Ltd. are the major companies operating in the CNG LPG Vehicle Market. Read More

Which is the fastest growing region in CNG LPG Vehicle Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in CNG LPG Vehicle Market?

In 2024, the Asia-Pacific accounts for the largest market share in CNG LPG Vehicle Market. Read More

What years does this CNG LPG Vehicle Market cover, and what was the market size in 2023?

In 2023, the CNG LPG Vehicle Market size was estimated at USD 6.26 billion. The report covers the CNG LPG Vehicle Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the CNG LPG Vehicle Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

CNG and LPG Vehicle Market - Growth & Industry Report

CNG and LPG Vehicle Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The CNG and LPG Vehicle Market Report is Segmented by Fuel Type (Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG)), Vehicle Type (Passenger Cars and Commercial Vehicles), Sales Channel (OEM and Retrofitting), and Geography (North America (United States, Canada, and Rest of North America), Europe (Germany, United Kingdom, France, Italy, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Middle East and Africa and South America)). The Report Offers the Market Size in Value (USD) and Forecasts for all the Above Segments.

CNG LPG Vehicle Industry Overview

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.