Market Size of MEA And India CNG and LPG Vehicle Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.58 % |
| Fastest Growing Market | Africa |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MEA & India CNG and LPG Vehicle Market Analysis
The total market of CNG and LPG vehicles in Middle-East, Africa, and India is estimated to grow at a rate of 6.58% over the forecast period.
Factors driving the market growth are environmental and cost benefits associated with the use of natural gas vehicles (NGVs). NGVs are less polluting in comparison to petrol or diesel. They are also cheaper in comparison to the aforementioned fuels. But advancements in engine technology are bringing about cleaner petrol and diesel vehicles, which might hamper new NGV sales. Furthermore, the market's paradigm toward electric mobility, especially in India, is also expected to deter market growth.
Middle-East is the largest market due to the sheer number of vehicles present in prominent markets, like Iran and Turkey. India is also a considerable market in comparison. The passenger cars segment occupy the largest share in terms of both value and volume. It is also the fastest growing segment. Furthermore, CNG vehicles are more in number than LPG ones.
The market is neither fragmented nor consolidated with considerable number of global as well as local players (especially in-case of India) being present.
MEA & India CNG and LPG Vehicle Industry Segmentation
This study takes into consideration the type of vehicles operable in the different geographical regions and the two categories of gaseous fuel i.e., CNG and LNG.
Market size (in revenue USD billion) and volume (in million units) are provided for all the segmentation types. Market volume is the number of vehicles that are in operation (on-road/registered).
| By Vehicle Type | |
| Three-wheelers | |
| Passenger Cars | |
| Trucks ( Light, Medium, and Heavy) | |
| Buses |
| By Fuel Type | |
| CNG | |
| LPG |
| Geography | ||||||||
| ||||||||
| ||||||||
| India |
MEA And India CNG and LPG Vehicle Market Size Summary
The CNG and LPG vehicle market in the Middle-East, Africa, and India is poised for significant growth, driven by the environmental and economic advantages of natural gas vehicles (NGVs). These vehicles offer reduced emissions compared to traditional petrol and diesel options, and they are more cost-effective in terms of fuel expenses. Despite advancements in cleaner petrol and diesel technologies and the growing shift towards electric mobility, particularly in India, the market for NGVs continues to expand. The Middle-East stands out as the largest market, with countries like Iran and Turkey leading in vehicle numbers, while India also represents a substantial market. The passenger car segment dominates both in value and volume, with CNG vehicles outnumbering LPG ones. The market is characterized by a mix of global and local players, with government initiatives worldwide promoting the adoption of cleaner vehicles through regulations aimed at improving fuel efficiency and reducing pollution.
The market landscape is supported by established technology for natural gas engine development and conversion, with manufacturers offering both dedicated and dual-fuel engines. Companies like Volvo, Scania, and Iveco have introduced new gas commercial vehicles, while in India, Maruti Suzuki offers CNG options across multiple models. The transition to NGVs is further encouraged by lower maintenance costs and government investments in refueling infrastructure, as seen in Tanzania's efforts to leverage its natural gas reserves. The market's growth is bolstered by the availability of factory-fitted NGV equipment and the potential for cost savings in the medium to long term, despite higher initial costs. This dynamic environment, with key players such as Maruti Suzuki, MAN SE, IVECO, Bajaj Auto, and TATA Motors, underscores the promising outlook for the CNG and LPG vehicle market in the region.
MEA And India CNG and LPG Vehicle Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Vehicle Type
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2.1.1 Three-wheelers
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2.1.2 Passenger Cars
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2.1.3 Trucks ( Light, Medium, and Heavy)
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2.1.4 Buses
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2.2 By Fuel Type
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2.2.1 CNG
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2.2.2 LPG
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2.3 Geography
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2.3.1 Middle-East
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2.3.1.1 Kingdom of Saudi Arabia
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2.3.1.2 United Arab Emirates
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2.3.1.3 Turkey
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2.3.1.4 Egypt
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2.3.1.5 Qatar
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2.3.1.6 Rest of Middle-East
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2.3.2 Africa
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2.3.2.1 South Africa
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2.3.2.2 Kenya
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2.3.2.3 Uganda
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2.3.2.4 Tanzania
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2.3.2.5 Nigeria
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2.3.2.6 Rest of Africa
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2.3.3 India
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MEA And India CNG and LPG Vehicle Market Size FAQs
What is the current MEA And India CNG and LPG Vehicle Market size?
The MEA And India CNG and LPG Vehicle Market is projected to register a CAGR of 6.58% during the forecast period (2024-2029)
Who are the key players in MEA And India CNG and LPG Vehicle Market?
Maruti Suzuki India Ltd., MAN Truck & Bus SE, IVECO S.p.A.,, Bajaj Auto Limited and TATA Motor Limited are the major companies operating in the MEA And India CNG and LPG Vehicle Market.
