World Automotive CNG & LPG Kits Sector to Expand through 2021, Says TechSci Research in Its Report Recently Published at MarketPublishers.com
26 Apr 2016 • by Natalie Aster
LONDON – Increasing concerns about air pollution is triggering the growing uptake of compressed natural gas (CNG) and liquefied petroleum gas (LPG) as replacements for conventional transport fuel in light motor vehicles, commercial vehicles, three-wheeled vehicles, among others, globally. Increasing caring for the environment and cost-performance of alternative fuels versus traditional fuels is stimulating the demand for automotive CNG and LPG kits from pole to pole. Governments of different countries have pursued policies for decreasing air pollution from cars and driving adoption of green CNG and LPG vehicles. This is projected to propel the demand for automotive CNG and LPG kits from original equipment manufacturer (OEM) and aftermarket segments in the next 5 years.
The global automotive CNG and LPG kits market is poised for expansion at more than 8% CAGR through to 2021. As of 2015, the passenger car segment captured the lion’s market share. APAPC took the lead in the global market for automotive CNG and LPG kits in the same year, on the back of the increasing demand from China, Japan, India, South Korea and Thailand.
New research report “Global Automotive CNG and LPG Kits Market” elaborated by TechSci Research canvasses the world market for automotive CNG & LPG kits. It provides market sizes in value and volume terms and market shares (by vehicle type, region, demand category, and by CNG versus LPG) plus forecasts to 2021. The study presents an in-depth look at each of the key segments in terms of size and share, plus forecasts; as well as offers a regional analysis across APAC, Europe and CIS nations, Americas, and the Middle East & Africa. The research publication throws light on the changing market trends and emerging opportunities, assesses key market drivers and restraints, explores the competitive scenario and provides company profiles of the 10 leading industry players. Valuable strategic recommendations are available in the report, too.
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