PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1340445
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1340445
According to SPER Market Research, 'Africa CNG and LPG Vehicle Market Size- By Fuel Type, By Vehicle Type, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Africa CNG and LPG Vehicle Market is predicted to reach USD 2.85 billion by 2033 with a CAGR of 7.01%.
CNG and LPG vehicles are automobiles that utilize alternative fuels. CNG, or compressed natural gas, is predominantly composed of methane and is employed as a fuel alternative to gasoline or diesel in these vehicles. On the other hand, LPG, which stands for liquefied petroleum gas, primarily consists of propane or butane and serves as a substitute for gasoline or diesel in LPG vehicles' operation.
African CNG and LPG vehicle sales were affected in different ways by the COVID-19 outbreak. Lockdowns, travel restrictions, and financial ambiguity slowed the development of infrastructure and the selling of vehicles throughout the initial period. Incentives and policies supporting alternate fuels were delayed as government prioritised pandemic response. Nevertheless, the crisis also emphasised how crucial energy security and environmental sustainability are, which may increase demand in cleaner fuels like CNG and LPG.