Press release
CNG & LPG Vehicle Market Overview, Trends, Growth, Demand, Key Players Analysis and Forecast To 2022-2032 - Hyundai Motor Company, Suzuki Motor Corporation, Nissan Motor Co. Ltd
CNG and LPG Market
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Key Trends
CNG and LPG vehicles are becoming increasingly popular due to their environmental and economic benefits. Natural gas is a cleaner burning fuel than gasoline or diesel, and it is also cheaper. LPG is also a cleaner burning fuel than gasoline or diesel, but it is more expensive.
CNG vehicles have been around for many years, but their popularity has increased in recent years due to the environmental benefits. CNG produces significantly less emissions than gasoline or diesel, and it is also cheaper.
LPG vehicles are newer than CNG vehicles, but they are becoming more popular due to their environmental benefits. LPG produces significantly less emissions than gasoline or diesel, and it is also more expensive.
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Key Drivers
The key drivers of the CNG & LPG Vehicle market are the rising prices of petrol and diesel, the environmental concerns associated with the use of these fuels, and the availability of CNG & LPG at a lower cost.
CNG & LPG are cheaper than petrol and diesel, and this is one of the main reasons why drivers are opting for these fuels. CNG is available at a price of Rs.30 per kg in Delhi, while the price of petrol is Rs.70 per litre. This makes CNG & LPG a more attractive option for drivers.
Environmental concerns are also a key driver of the CNG & LPG Vehicle market. These fuels emit less pollution than petrol and diesel, and this is a major reason why drivers are choosing them over other fuels.
The availability of CNG & LPG is also a key driver of the market. These fuels are available in many parts of the country, and this makes them a more convenient option for drivers.
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Market Segments:
The CNG & LPG Vehicle Market is segmented by vehicle body type, fuel type, kit type, fitting and region. By vehicle body type, the market is divided into passenger cars, three-wheelers, and commercial vehicles.
Based on fuel type, it is segmented into CNG and LPG. On the basis of kit type, the market is divided into venturi & sequential. By fitting, it is divided into OEMs & aftermarket. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
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Key Market Players:
The CNG & LPG Vehicle Market includes players such as Hyundai Motor Company, Suzuki Motor Corporation, Nissan Motor Co. Ltd. , Volkswagen AG, Honda Motor Company, Ford Motor Company, Venchurs, Westport, Fiat S.P.A and Landi Renzo.
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