The Latin America, Middle East and Africa Automotive Natural Gas Vehicle Market would witness market growth of 8.7% CAGR during the forecast period (2022-2028).
Emerging enterprises and leading companies in a variety of industries in emerging nations, including the food industry, e-commerce, and others, have increased demand for transportation and delivery solutions, hence increasing the manufacturing of heavy-duty commercial vehicles. Moreover, as the demand for automobiles rises, so does the desire for natural gas-powered vehicles, such as CNG and LNG-powered vehicles. As a result, policymakers in numerous nations in the region are supporting the use of these fuels over conventional ones.
Due to this, the popularity of natural gas vehicles has increased, which is likely to increase demand for NGVs during the forecast period. Globally, greenhouse gas emissions and environmental protection rules are getting increasingly strict. An NGV engine makes 90% less noise than a diesel engine since its sound pressure level is lower. This offers NGVs as an excellent option for cars that work at night or in heavily populated regions. Additionally, using natural gas for refilling rather than gasoline or diesel lowers evaporative and odorant emissions. Moreover, groundwater contamination does not take place with the use of natural gas.
The Government of Argentina cut the importation taxes for trucks fuelled by CNG, LNG, and biogas/biomethane, as well as associated components, to 2-5%. The government believes that by making it easier to import these commercial cars, more engagement in the natural gas transportation field will eventually result in the growth of a national commercial automobile manufacturing industry. The government also acknowledges the development toward the use of alternative energies in the propulsion of automobiles, noting that natural gas has established itself as one of the most environmentally friendly options, as well as being less expensive than current diesel and utilizing cleaner energy. Similar efforts across the region have augmented the expansion and development of the automotive natural gas vehicle market in the region.
The Brazil market dominated the LAMEA Automotive Natural Gas Vehicle Market by Country in 2021; thereby, achieving a market value of $393.7 million by 2028. The Argentina market is showcasing a CAGR of 9.2% during (2022 - 2028). Additionally, The UAE market would register a CAGR of 7.9% during (2022 - 2028).
Based on Vehicle Type, the market is segmented into Passenger Vehicles, Light-duty & Heavy-duty Buses & Trucks and Three-wheelers. Based on Fuel Type, the market is segmented into CNG and LNG. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Automotive Natural Gas Vehicle Market is Predict to reach $14.3 Billion by 2028, at a CAGR of 5.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Volvo Group, CNH Industrial N.V., Cummins, Inc., Hexagon Agility, Inc. (Hexagon AB), Beijing Foton International Trade Co., Ltd., Clean Energy Fuels Corp., PACCAR, Inc., Navistar, Inc., Quantum Fuel Systems LLC and Westport Fuel Systems, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Vehicle Type
- Passenger Vehicles
- Light-duty & Heavy-duty Buses & Trucks
- Three-wheelers
By Fuel Type
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Volvo Group
- CNH Industrial N.V.
- Cummins, Inc.
- Hexagon Agility, Inc. (Hexagon AB)
- Beijing Foton International Trade Co., Ltd.
- Clean Energy Fuels Corp.
- PACCAR, Inc.
- Navistar, Inc.
- Quantum Fuel Systems LLC
- Westport Fuel Systems, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Automotive Natural Gas Vehicle Market, by Vehicle Type
1.4.2 LAMEA Automotive Natural Gas Vehicle Market, by Fuel Type
1.4.3 LAMEA Automotive Natural Gas Vehicle Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2019, Sep – 2022, Oct) Leading Players
Chapter 4. LAMEA Automotive Natural Gas Vehicle Market by Vehicle Type
4.1 LAMEA Passenger Vehicles Market by Country
4.2 LAMEA Light-duty & Heavy-duty Buses & Trucks Market by Country
4.3 LAMEA Three-wheelers Market by Country
Chapter 5. LAMEA Automotive Natural Gas Vehicle Market by Fuel Type
5.1 LAMEA CNG Market by Country
5.2 LAMEA LNG Market by Country
Chapter 6. LAMEA Automotive Natural Gas Vehicle Market by Country
6.1 Brazil Automotive Natural Gas Vehicle Market
6.1.1 Brazil Automotive Natural Gas Vehicle Market by Vehicle Type
6.1.2 Brazil Automotive Natural Gas Vehicle Market by Fuel Type
6.2 Argentina Automotive Natural Gas Vehicle Market
6.2.1 Argentina Automotive Natural Gas Vehicle Market by Vehicle Type
6.2.2 Argentina Automotive Natural Gas Vehicle Market by Fuel Type
6.3 UAE Automotive Natural Gas Vehicle Market
6.3.1 UAE Automotive Natural Gas Vehicle Market by Vehicle Type
6.3.2 UAE Automotive Natural Gas Vehicle Market by Fuel Type
6.4 Saudi Arabia Automotive Natural Gas Vehicle Market
6.4.1 Saudi Arabia Automotive Natural Gas Vehicle Market by Vehicle Type
6.4.2 Saudi Arabia Automotive Natural Gas Vehicle Market by Fuel Type
6.5 South Africa Automotive Natural Gas Vehicle Market
6.5.1 South Africa Automotive Natural Gas Vehicle Market by Vehicle Type
6.5.2 South Africa Automotive Natural Gas Vehicle Market by Fuel Type
6.6 Nigeria Automotive Natural Gas Vehicle Market
6.6.1 Nigeria Automotive Natural Gas Vehicle Market by Vehicle Type
6.6.2 Nigeria Automotive Natural Gas Vehicle Market by Fuel Type
6.7 Rest of LAMEA Automotive Natural Gas Vehicle Market
6.7.1 Rest of LAMEA Automotive Natural Gas Vehicle Market by Vehicle Type
6.7.2 Rest of LAMEA Automotive Natural Gas Vehicle Market by Fuel Type
Chapter 7. Company Profiles
7.1 Cummins, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional & Segmental Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Partnerships, Collaborations, and Agreements:
7.1.5.2 Product Launches and Product Expansions:
7.1.5.3 Acquisition and Mergers:
7.2 CNH Industrial N.V.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional & Segmental Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.3 Volvo Group
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Partnerships, Collaborations, and Agreements:
7.4 Hexagon Agility, Inc. (Hexagon AB)
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional & Segmental Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Partnerships, Collaborations, and Agreements:
7.4.5.2 Product Launches and Product Expansions:
7.4.5.3 Acquisition and Mergers:
7.5 Beijing Foton International Trade Co., Ltd.
7.5.1 Company Overview
7.6 Clean Energy Fuels Corp.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Regional Analysis
7.7 PACCAR, Inc.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.8 Navistar, Inc.
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Partnerships, Collaborations, and Agreements:
7.9 Quantum Fuel Systems LLC
7.9.1 Company Overview
7.10. Westport Fuel Systems, Inc.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental Analysis
7.10.4 Research & Development Expenses
7.10.5 Recent strategies and developments:
7.10.5.1 Product Launches and Product Expansions:
7.10.5.2 Acquisition and Mergers:
TABLE 1 LAMEA Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Automotive Natural Gas Vehicle Market
TABLE 4 Product Launches And Product Expansions – Automotive Natural Gas Vehicle Market
TABLE 5 Acquisition and Mergers – Automotive Natural Gas Vehicle Market
TABLE 6 LAMEA Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 7 LAMEA Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 8 LAMEA Passenger Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 9 LAMEA Passenger Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 10 LAMEA Light-duty & Heavy-duty Buses & Trucks Market by Country, 2018 - 2021, USD Million
TABLE 11 LAMEA Light-duty & Heavy-duty Buses & Trucks Market by Country, 2022 - 2028, USD Million
TABLE 12 LAMEA Three-wheelers Market by Country, 2018 - 2021, USD Million
TABLE 13 LAMEA Three-wheelers Market by Country, 2022 - 2028, USD Million
TABLE 14 LAMEA Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 15 LAMEA Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 16 LAMEA CNG Market by Country, 2018 - 2021, USD Million
TABLE 17 LAMEA CNG Market by Country, 2022 - 2028, USD Million
TABLE 18 LAMEA LNG Market by Country, 2018 - 2021, USD Million
TABLE 19 LAMEA LNG Market by Country, 2022 - 2028, USD Million
TABLE 20 LAMEA Automotive Natural Gas Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 21 LAMEA Automotive Natural Gas Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 22 Brazil Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 23 Brazil Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 24 Brazil Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 25 Brazil Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 26 Brazil Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 27 Brazil Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 28 Argentina Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 29 Argentina Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 30 Argentina Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 31 Argentina Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 32 Argentina Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 33 Argentina Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 34 UAE Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 35 UAE Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 36 UAE Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 37 UAE Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 38 UAE Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 39 UAE Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 40 Saudi Arabia Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 41 Saudi Arabia Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 42 Saudi Arabia Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 43 Saudi Arabia Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 44 Saudi Arabia Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 45 Saudi Arabia Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 46 South Africa Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 47 South Africa Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 48 South Africa Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 49 South Africa Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 50 South Africa Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 51 South Africa Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 52 Nigeria Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 53 Nigeria Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 54 Nigeria Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 55 Nigeria Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 56 Nigeria Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 57 Nigeria Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 58 Rest of LAMEA Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 59 Rest of LAMEA Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 60 Rest of LAMEA Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 61 Rest of LAMEA Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 62 Rest of LAMEA Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 63 Rest of LAMEA Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 64 Key information – Cummins, Inc.
TABLE 65 Key Information – CNH Industrial N.V.
TABLE 66 key Information – Volvo Group
TABLE 67 Key Information – Hexagon Agility, Inc.
TABLE 68 Key Information – Beijing Foton International Trade Co., Ltd.
TABLE 69 Key Information – Clean Energy Fuels Corp.
TABLE 70 Key Information – PACCAR, Inc.
TABLE 71 Key Information – Navistar, Inc.
TABLE 72 Key Information – Quantum Fuel Systems LLC
TABLE 73 Key Information – Westport Fuel Systems, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2019, Sep – 2022, Oct) Leading Players
FIG 5 Recent strategies and developments: Cummins, Inc.
FIG 6 Recent strategies and developments: Hexagon Agility, Inc.
FIG 7 Recent strategies and developments: Westport Fuel Systems, Inc.