The North America Automotive Natural Gas Vehicle Market would witness market growth of 5.1% CAGR during the forecast period (2022-2028).
CNG is stored at 210 to 250 bar pressure (3,000 to 3,600 psi). The needed tank is larger and more expensive than a standard fuel tank. With LNG plants, slow-fill (several hours) is considered to be cost-effective. The time needed to refill a CNG tank differs significantly between stations. Typical residential refuelers fill at a rate of 1 kg/h. At gas stations, since the pressure is significantly higher, a 25-kilogram tank can be refilled in up to 10 minutes.
Depending on gas composition and throughput, it may be possible to link commercial CNG fuelling stations to gas distribution networks or to enable direct residential CNG vehicle fueling with a gas compressor. Parallel to a power source, the CNG tank of a vehicle might function as a home power storage device, as well as the compressor could be operated when excess/free renewable electrical energy is available.
Natural gas is abundant in the United States, and the country is the lowest-cost producer in the world. Therefore, it presents a multitude of potential opportunities for the market for automotive natural gas vehicles. Moreover, the increased production of shale gas throughout the United States has increased the natural gas supply. This significant increase can be linked to the rapid expansion of alternate gas resources and shale since 2008, as well as the development of improved drilling techniques, such as fracking. As a result, natural gas costs have decreased for both residential and commercial consumers.
The US market dominated the North America Automotive Natural Gas Vehicle Market by Country in 2021; thereby, achieving a market value of $2,422.7 million by 2028. The Canada is experiencing a CAGR of 7.1% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 6.8% 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 U.S., Mexico, Canada, and Rest of North America.
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
- US
- Canada
- Mexico
- Rest of North America
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 North America Automotive Natural Gas Vehicle Market, by Vehicle Type
1.4.2 North America Automotive Natural Gas Vehicle Market, by Fuel Type
1.4.3 North America 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. North America Automotive Natural Gas Vehicle Market by Vehicle Type
4.1 North America Passenger Vehicles Market by Country
4.2 North America Light-duty & Heavy-duty Buses & Trucks Market by Country
4.3 North America Three-wheelers Market by Country
Chapter 5. North America Automotive Natural Gas Vehicle Market by Fuel Type
5.1 North America CNG Market by Country
5.2 North America LNG Market by Country
Chapter 6. North America Automotive Natural Gas Vehicle Market by Country
6.1 US Automotive Natural Gas Vehicle Market
6.1.1 US Automotive Natural Gas Vehicle Market by Vehicle Type
6.1.2 US Automotive Natural Gas Vehicle Market by Fuel Type
6.2 Canada Automotive Natural Gas Vehicle Market
6.2.1 Canada Automotive Natural Gas Vehicle Market by Vehicle Type
6.2.2 Canada Automotive Natural Gas Vehicle Market by Fuel Type
6.3 Mexico Automotive Natural Gas Vehicle Market
6.3.1 Mexico Automotive Natural Gas Vehicle Market by Vehicle Type
6.3.2 Mexico Automotive Natural Gas Vehicle Market by Fuel Type
6.4 Rest of North America Automotive Natural Gas Vehicle Market
6.4.1 Rest of North America Automotive Natural Gas Vehicle Market by Vehicle Type
6.4.2 Rest of North America 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 North America Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 2 North America 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 North America Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 7 North America Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 8 North America Passenger Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 9 North America Passenger Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 10 North America Light-duty & Heavy-duty Buses & Trucks Market by Country, 2018 - 2021, USD Million
TABLE 11 North America Light-duty & Heavy-duty Buses & Trucks Market by Country, 2022 - 2028, USD Million
TABLE 12 North America Three-wheelers Market by Country, 2018 - 2021, USD Million
TABLE 13 North America Three-wheelers Market by Country, 2022 - 2028, USD Million
TABLE 14 North America Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 15 North America Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 16 North America CNG Market by Country, 2018 - 2021, USD Million
TABLE 17 North America CNG Market by Country, 2022 - 2028, USD Million
TABLE 18 North America LNG Market by Country, 2018 - 2021, USD Million
TABLE 19 North America LNG Market by Country, 2022 - 2028, USD Million
TABLE 20 North America Automotive Natural Gas Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 21 North America Automotive Natural Gas Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 22 US Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 23 US Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 24 US Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 25 US Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 26 US Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 27 US Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 28 Canada Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 29 Canada Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 30 Canada Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 31 Canada Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 32 Canada Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 33 Canada Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 34 Mexico Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 35 Mexico Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 36 Mexico Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 37 Mexico Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 38 Mexico Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 39 Mexico Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 40 Rest of North America Automotive Natural Gas Vehicle Market, 2018 - 2021, USD Million
TABLE 41 Rest of North America Automotive Natural Gas Vehicle Market, 2022 - 2028, USD Million
TABLE 42 Rest of North America Automotive Natural Gas Vehicle Market by Vehicle Type, 2018 - 2021, USD Million
TABLE 43 Rest of North America Automotive Natural Gas Vehicle Market by Vehicle Type, 2022 - 2028, USD Million
TABLE 44 Rest of North America Automotive Natural Gas Vehicle Market by Fuel Type, 2018 - 2021, USD Million
TABLE 45 Rest of North America Automotive Natural Gas Vehicle Market by Fuel Type, 2022 - 2028, USD Million
TABLE 46 Key information – Cummins, Inc.
TABLE 47 Key Information – CNH Industrial N.V.
TABLE 48 key Information – Volvo Group
TABLE 49 Key Information – Hexagon Agility, Inc.
TABLE 50 Key Information – Beijing Foton International Trade Co., Ltd.
TABLE 51 Key Information – Clean Energy Fuels Corp.
TABLE 52 Key Information – PACCAR, Inc.
TABLE 53 Key Information – Navistar, Inc.
TABLE 54 Key Information – Quantum Fuel Systems LLC
TABLE 55 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.