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LPG Vehicle Market Competitive Share Analysis and Forecast Report

APAC is the largest CNG and LPG vehicle market presently owing to the growing automotive industry of Japan, China, India, and South Korea.

Rahul_Gautam
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LPG Vehicle Market Competitive Share Analysis and Forecast Report

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  1. CNG and LPG Vehicle Market Analysis, Top Companies, Growth Rate and Opportunities 1 ©P&SIntelligence.Allrightsreserved

  2. On a gasoline-equivalent basis, the per-gallon cost of compressed natural gas (CNG) in Europe ranges from $1.50 to $2.80. Compared to diesel and gasoline (petrol), this results in fuel cost savings of up to 75%. This is a key factor that will likely propel the global CNG and LPG vehicle market sales volume from 56.2 million units in 2019 to 102.3 million units by 2030, at a 5.9% CAGR between 2020 and 2030, according to P&S Intelligence. Similarly, the per-gallon cost of liquefied petroleum gas (LPG) on a gasoline-equivalent basis is $2.00. This leads to almost 50% cost savings for every gallon of fuel. In addition, the CNG and LPG vehicle market is being driven by the lower greenhouse gas emissions of CNG than gasoline and diesel. Similarly, installing an LPG filling station is cheap, and LPG tanks are small, thus leaving more space for passengers and cargo inside the vehicle. Get the sample copy of this report at @ https://www.psmarketresearch.com/market- analysis/cng-and-lpg-vehicle-market/report-sample The COVID-19 pandemic has almost stopped the CNG and LPG vehicle market growth in its tracks, as factory shutdowns have led to a slump in their production. Moreover, with restrictions on non-essential movement, the demand for transportation services has reduced significantly, which is why ride-hailing companies are not purchasing cars currently. Even individuals are not buying automobiles because of the widespread financial distress due to salary cuts and unemployment. The CNG bifurcation is predicted to keep holding the larger share in the CNG and LPG vehicle market in the coming years, based on fuel type. Due to environmental concerns, the demand for CNG vehicles is growing around the world, especially in the emerging economies of Asia-Pacific (APAC). APAC is the largest CNG and LPG vehicle market presently owing to the growing automotive industry of Japan, China, India, and South Korea. The Latin America, Middle East, and Africa (LAMEA) region will witness the fastest increase in the sale of CNG and LPG vehicles in the near future, as the economic growth in Brazil, Mexico, and other developing countries here is allowing people to spend more on automobiles.

  3. Make enquiry about this report at @ https://www.psmarketresearch.com/send- enquiry?enquiry-url=cng-and-lpg-vehicle-market Major players in the global CNG and LPG vehicle market are General Motors Co., Ford Motor Co., Toyota Motor Corporation, Fiat Chrysler Automobiles N.V., Tata Motors Ltd., Honda Motors Co. Ltd., Daimler AG, AB Volvo, Volkswagen AG, and Suzuki Motors Corp. Market Segmentation by Fuel Type •CNG •LPG Market Segmentation by Vehicle Type •Passenger Car •Light and Heavy-duty Truck •Bus Market Segmentation by Geography •North America CNG and LPG Market oBy fuel type oBy vehicle type oBy country – U.S. and Canada •Europe CNG and LPG Market oBy fuel type oBy vehicle type oBy country – Russia, Italy, Ukraine, Germany, France, Netherlands, Spain and rest of Europe •Asia-Pacific (APAC) CNG and LPG Market oBy fuel type oBy vehicle type oBy country – India, China, South Korea, Thailand, and rest of APAC •Latin America, the Middle East and Africa (LAMEA) CNG and LPG Market oBy fuel type oBy vehicle type oBy country – Iran, Argentina, Brazil, and rest of LAMEA This study covers •Historical and the present size of the CNG and LPG Vehicle Market •Major factors driving the market and their impact during the short, medium, and long terms •Market restraints and their impact during the short, medium, and long terms •Recent trends and evolving opportunities for the market participants •Historical and the present size of the market segments and understand their comparative future potential •Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

  4. •Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders •Major players operating in the market and their service offerings •Recent strategic developments by the major players in the market About P&S Intelligence P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. 3 ©P&SIntelligence.Allrightsreserved

  5. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd.

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