Global Sequential CNG Kit Market Size, Share, Growth Analysis, By Sale Channels(OEMS, Aftermarket), By Vehicle Type(Hatchback, Sedan)

Description

Global Sequential CNG Kit Market size was valued at USD 1.05 trillion in 2022 and is poised to grow from USD 1.13 trillion in 2023 to USD 2.06 trillion by 2031, growing at a CAGR of 7.8% during the forecast period (2024-2031).

The energy content of bulk LPG and CNG delivered to service stations is usually less expensive than that of gasoline. One kilogram of CNG costs about 43.40 (USD0.59) in Delhi, whereas one liter of gasoline costs about 101.19 (USD1.38) and one liter of diesel costs 88.62 (USD 1.21). It is projected that the CNG kit market would grow rapidly throughout the course of the forecast period. Cars are the main segment of the CNG-powered vehicle market. Furthermore, the market for automotive CNG/LPG kits in India is indirectly supported by the expanding usage of CNG fuel in buses, cars, and small trucks. However, in the next years, it is anticipated that challenges related to long-term storage and tank capacity may hinder the growth of LPG kits in India's automotive CNG/LPG kit market. This is expected to slow the growth rate of the LPG kit market in India over the projected period of 2021-2027.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Sequential CNG Kit Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the Market size includes the following details: The key players in the Market were identified through secondary research, and their Market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top Market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Sequential CNG Kit Market Segmental Analysis

Global Sequential CNG Kit Market is segmented on the basis of vehicle type, sale channels and region. By vehicle type, the market is segmented into hatchback, sedan, suv, others. By sale channels, market is segmented into oems, aftermarket, online retail. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Sequential CNG Kit Market

The need for alternative fuels like CNG has increased as a result of the volatility of crude oil prices. Car owners are choosing CNG kits more frequently in order to lower their fuel expenses as CNG is more affordable and consistent in terms of price. The market for sequential CNG kits is increasing as a result of numerous governments throughout the world providing subsidies and incentives to encourage the usage of CNG cars. In the next years, it is anticipated that the favorable laws and regulations supporting the adoption of alternative fuel cars would propel the expansion of the global sequential CNG kit market.

Restraints in the Global Sequential CNG Kit Market

The scarcity of infrastructure for CNG vehicle refilling is one of the main obstacles to the worldwide sequential CNG kit market. The market's expansion is hampered by the dearth of CNG filling stations and the expensive setup costs of additional stations.

Market Trends of the Global Sequential CNG Kit Market

There are already a number of original equipment manufacturers (OEMs) with CNG-equipped automobiles available in their product lineup. As governments throughout the world encourage the use of alternative fuels and provide incentives for the purchase of CNG vehicles, it is anticipated that this trend will continue.

Product Code: SQMIG25D2007

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Sequential CNG Kit Market by Sale Channels

Market Overview
OEMS
Aftermarket
Online Retail

Global Sequential CNG Kit Market by Vehicle Type

Market Overview
Hatchback
Sedan
SUV
Others

Global Sequential CNG Kit Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Lovato Gas S.p.A. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Tomasetto Achille S.p.A. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Landi Renzo S.p.A. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
BRC Gas Equipment (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Tartarini Auto S.p.A. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
AG Centrum (Poland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Maruti Suzuki India Limited (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
AEB S.r.l. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Greco Gas Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Lovato Autogas S.p.A. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Prins Autogassystemen BV (Netherlands)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Emer S.p.A. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
OMVL S.p.A. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
LPGTECH Sp. z o.o. (Poland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Lovato Electric S.p.A. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zenit Progetti S.r.l. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Stargas S.r.l. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Eco Fuel Systems Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Greengear Global Ltd. (UK)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Autogas Italia S.r.l. (Italy)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Roush CleanTech (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Landi Renzo USA (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Sequential CNG Kit Market Size, Share, Growth Analysis, By Sale Channels(OEMS, Aftermarket), By Vehicle Type(Hatchback, Sedan) - Industry Forecast 2024-2031