Global Automotive Natural Gas Vehicles (NGV) Market will reach USD 4.0 billion by 2020

Date: 2016-09-12

Automotive Natural Gas Vehicles (NGV) is a gas fuel vehicle which puts the oil to change natural gas as fuel.

There are many types of natural gas vehicles. According to the use of natural gas fuel different state, Natural Gas Vehicle can be divided into compressed natural gas (CNG) vehicles and liquefied natural gas (LNG) vehicles. Compressed natural gas means the natural gas compressed to 20.7-24.8MPa, is stored in the vehicle-mounted high-pressure cylinders. Liquefied natural gas refers to atmospheric pressure and a temperature of -162 degrees of liquid natural gas, is stored in a vehicle in insulation cylinder. In accordance with the different conditions of fuel use, natural gas vehicles can also be divided into Dedicated fuel natural gas vehicle, its engine only uses natural gas as fuel; Flexible-fuel natural gas vehicles, its engine can either use natural gas may also use gasoline as a fuel; Dual Fuel natural gas vehicles, its engine can use simultaneously liquid fuels and natural gas.

Global Automotive Natural Gas Vehicles (NGV) Market Share, by the use of natural gas fuel different state, 2015

automotive-natural-gas-vehicles-ngv

As far as natural gas vehicle market, NGV appeared in the middle of last century, although it has many advantages, but still only account for a small part of the global auto market. The used natural gas vehicles were less than 7% of the global automotive in 2015. The global automotive natural gas vehicles market is estimated to grow at a CAGR of about 11.0% from 2016 to 2020 to reach USD 4.0 billion by 2020. In terms of region, Asia-Pacific accounts for the largest market share of natural gas vehicles, this can be attributed to the growing demand for vehicles, increasing penetration of alternative fuel, and upcoming emissions norms in the region. China is the largest market of natural gas vehicle in Asia-Pacific followed by India and Thailand.

Some of the major players in the market of natural gas vehicle are Fiat Chrysler Automobiles NV (Italy), Daimler AG (Germany), Ford Motors (U.S.), Suzuki Motor Corporation (Japan), Volkswagen (Germany), PSA Peugeot Citroen (France), General Motors Company (U.S.), Honda Motor Company (Japan), Geely (China).

Read Full Report: http://www.gosreports.com/global-automotive-compressed-natural-gas-vehicles-ngv-industry-2015-market-research-report/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 1-510-400-8520
Web: www.gosreports.com
 ________________________________________________

Categories

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample