Natural Gas for Vehicle Market is Set To Fly High in Years to Come
Source: Digital Journal
Advance Market Analytics published a new research publication on “Natural Gas for Vehicle Market Insights, to 2027” with 232 pages and enriched with self-explained Tables and charts in a presentable format. In the Study, you will find new evolving Trends, Drivers, Restraints, and Opportunities generated by targeting market-associated stakeholders. The growth of the Natural Gas for Vehicle market was mainly driven by the increasing R&D spending across the world.
Some of the key players profiled in the study are: Dong-Feng Group Company limited (China), AB Volvo (Sweden), Daimler AG (Germany), CNH Industrial (Netherland), Tata Motors (India), Westport Innovations Inc. (Canada), Clean Energy Fuels Corp. (United States), Landi Renzo SPA (Italy), Clean Air Power Ltd. (United States) and Agility Fuel Systems Inc. (United States).
Scope of the Report of Natural Gas for Vehicle
Due to the escalating unrest in Russia & Ukraine, crude oil prices are steadily growing, and its supply is unpredictable. The usage of conventional fuels has raised pollution levels in many nations, with major deteriorations in air quality in major cities. This has a significant negative effect on human health and can cause skin and respiratory conditions. Governments have promoted the use of affordable and environmentally sustainable mobility options to lessen these effects. Natural gas (also known as CNG or LNG) has a lower carbon content than diesel or gasoline.
When these gases are used, fuel burns more efficiently and produces fewer emissions. Additionally, the cost of natural gas is lower and constant than that of diesel. Because fleet operators can save on fuel and lessen their carbon footprint, natural gas trucks and buses are becoming more popular. Government fleets have adopted more natural gas trucks and buses as a result of the advantages they provide for the environment. Utilizing natural gas also enables the government to lessen the direct effects of the rising price of crude oil. Large natural gas reserves allow for the local production of the necessary fuel, enabling nations like the United States and Russia to achieve energy independence. Range anxiety and fuelling infrastructure, however, continue to be key issues.
The titled segments and sub-section of the market are illuminated below:
by Type (RNG, CNG, LNG, Bio-Methane), Vehicle Type (Light Duty, Medium Duty, Heavy Duty), End User (Commercial, Residential) Players and Region – Global Market Outlook to 2027
Opportunities:
Growing Popularity of Green Transportation
Market Drivers:
Growing Need for Alternate Fuel
Rising Need to Curb Emission owing to Environmental Concerns
Demand for Cheap Fuel
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand, etc.
Latest Market Insights:
In July 2022, Experts in the energy sector claim that while exploration has decreased, new gasfield discoveries offer Africa a chance to increase the supply of natural gas to Europe. At the moment, export capacity restrictions prevent some African nations from increasing their exports of natural gas and liquefied natural gas (LNG).
For more on this Report, you can go to: https://www.advancemarketanalytics.com/