CNG and LPG Vehicle Market – Trends & Scenario (2021–2026)
The global electric CNG and LPG Vehicle Market size is projected to reach 4,389 thousand units sales by 2026, from an estimated 2,235 thousand units sales in 2021, at a CAGR of 15.5%. The base year for the report is 2020, and the forecast period is from 2021 to 2026. Factors such as growing demand for energy-efficient commuting and governments supporting low emission vehicles through subsidies & tax rebates have compelled Vehicle Manufacturers to invest into low emission vehicles which has further increased demand for CNG and LPG vehicles. The CNG and LPG vehicle market has promising growth potential due to several factors, including the growing demand for low emission vehicles in the market, government’s support for growth in infrastructure, plans to reduce higher emission fuel vehicles across many countries across the world etc. The rapidly growing sales volume of CNG and LPG in Asia Oceania, Europe, North America and ROW has propelled the growth of the global CNG and L...