TechNavio recognizes the following companies as the key players in the Global CNG Vehicles Market: Fiat S.p.A., Ford Motor Co., Suzuki Motor Corp., and Volkswagen AG.
Commenting on the report, an analyst from TechNavio’s team said: “One of the main trends witnessed in the Global CNG Vehicles market is the increase in vehicle conversions. For instance, the authorities in various cities in India mandate the replacement of old vehicles or vehicles that are not eco-friendly. In addition, in Kolkata all auto rickshaws running on two-stroke engines had to be converted to CNG.”
According to the report, one of the main factors driving the market is benefits of using CNG vehicles. The financial advantages of using a vehicle that runs on CNG compared to one that runs on gasoline are considerable.
Further, the report states that one of the main challenges is the high cost of CNG vehicles. A vehicle that runs on CNG costs more than a vehicle that runs on gasoline. This is mainly due to several additional components that need to be fitted to a CNG vehicle so that it can store and run on CNG fuel.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are General Motors, Honda Motor Co. Ltd., Hyundai Motor Co., Mercedes-Benz, Renault S.A., and Toyota Motor Corp.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-cng-vehicles-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
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TechNavio Announces the Publication of its Research Report -Global CNG Vehicles Market 2012-2016
