Automotive Business Point

The global compressed natural gas (CNG) and liquefied petroleum gas (LPG) vehicle market attained sales of 56.2 million vehicles in 2019. According to the forecast of P&S Intelligence, a market research company, the market size will reach 102.3 million units by 2030. Furthermore, the market will progress at a CAGR of 5.9% between 2020 and 2030. The growing usage of clean-energy vehicles and the ability of LPG and CNG vehicles to replace traditional vehicles are the main market growth drivers. Request to Get the Sample Report Additionally, the low running costs of these vehicles are also contributing heavily toward the boom of the CNG and LPG vehicle market. Automobiles that run on LPG and CNG have lower running costs than the diesel and gasoline-based vehicles. This is because of the lower costs of LPG and CNG than diesel and gasoline. The cost of CNG ranges from around $1.50 to $2.80 per gallon in Europe, registering a reduction of as much as 40–75% in fuel cost. Depending on fuel...

Conventional fuels, such as gasoline and diesel, have adversely impacted the atmosphere. The uncontrolled rise in air pollution levels mandates the usage of cleaner fossil fuels. Compressed natural gas (CNG) and liquefied  petroleum gas (LPG) are the most-popular alternative hydrocarbonstogasoline and diesel in the automotive industry. CNG and LPG vehicles have long marked their presence in the automobile industry; for instance, in Delhi, all commercial passenger vehicles must use CNG. These replacement fuels adhere to the emission limits, therefore will go a long way in reducing the pollution levels. This expanding  CNG and LPG vehicle market   reflects the shift toward clean energy. As per P&S Intelligence, Europeans purchased the maximum number of clean-fuel vehicles in 2015. European nations, including Russia, Ukraine, Italy, and Germany, are home to major marques, such as Volkswagen Group, Mercedes-Benz, Volvo Group, and Mitsubishi, which are manufacturing techno...