India’s CNG and LPG Vehicle Market Overview:
As per Maximize Market Research, a global business research and consultancy firm, the total global market for “India’s CNG and LPG Vehicle Market” size were valued at 863.22 thousand units. In 2021 and the total revenue is expected to grow at 6.82% of CAGR from 2022 to 2029, reaching nearly 1463.46 thousand units.
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India’s CNG and LPG Vehicle Market Dynamics:
Government initiative to replace diesel engines in BS-VI vehicles with CNG and LPG engines
The replacement of diesel engines in Bharat Stage, BS-VI vehicles weighing less than 3.5 tonnes with CNG and LPG engines has been modified, according to the government. The BS-IV emission standard now permits the installation of CNG and LPG kits into automobiles.
India’s CNG and LPG Vehicle Market Scope and Methodology
The primary source involved interviews with significant market leaders and industry experts including business owners and marketing specialists while secondary sources are a combination of the reviews of the financial and annual reports of top manufacturers. For better information on market penetration, competitive landscape demand analysis, and regional analysis are taken at the local, regional, and global levels. The report analyses an estimation of the market size of the India’s CNG and LPG Vehicle market along with current as well as future trends. The report provides an in-depth analysis of the key development, marketing strategies, supply side and demand side indicators and company profiles of the market owners, market leaders, potential players and new entrants. The bottom-up approach was used in the report to estimate the India’s CNG and LPG Vehicle Market. The primary and secondary data sources were used to collect data.
India’s CNG and LPG Vehicle Market Segmentation:
by Vehicle Type
1. Passenger Vehicle
2. Commercial Vehicle
by Fuel Type
1. CNG
2. LPG
by Kit Type
1. Venturi
2. Sequential
3. retro fitment
The Indian CNG and LPG vehicle market is divided into three categories based on the kind of vehicle: passenger cars, light commercial cars, and heavy commercial cars. In 2021, the segment’s passenger vehicles held a XX% share of the CAGR. According to information provided by the industry group Society of Indian Automobile Manufacturers (SIAM), 275,788 passenger vehicles were sold in the last month, a 19% rise over the 231,633 units sold during the same period of the previous financial year. If Tata Motors’ sales were included, which has stopped sending data to SIAM, the Society of Indian Automobile Manufacture, on a monthly basis, the industry’s increase would have been higher at nearly 26%.
One of the biggest is Maruti Suzuki India.
The India CNG and LPG vehicle market is divided into CNG and LPG segments according to fuel type. By 2029, CNG vehicles are anticipated to occupy a bigger market share, and a higher CAGR is anticipated for the entire forecast period. A CNG-powered vehicle offers significant cost advantages over its petrol or diesel counterparts in addition to being an environmentally benign alternative fuel for internal combustion engines in automobiles, motorbikes, and light trucks.
The primary factor influencing consumer transition to CNG is the high cost of petrol (Rs 109.98 per litter in Mumbai on November 8) and diesel (Rs 94.14 per litter in Mumbai on November 8) in compared to CNG’s cost of Rs 57.54 per kilogramme. CNG-powered vehicles have improved fuel efficiency by default.
The retro fitting Kit market is anticipated to develop at the quickest rate throughout the projection period, broken down by kit type. Due to their superior fuel efficiency and better pollution control in automobiles, retro fitting kits are in more demand than venturi kits. The national government is anticipated to approve the installation of CNG kits ona BS-VI petrol vehicles, which might reduce fuel usage by 40–50%. A draught notification outlining emission and other standards for such retrofitting was prepared by the road transport ministry. This is a wise decision on the part of the government because using CNG as fuel will significantly lower fuel prices for the ordinary public.
Since the government has suggested installing CNG systems in automobiles with up to.
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India’s CNG and LPG Vehicle Market Key Players:
1. Maruti India Ltd.
2. Toyota Motors
3. Hyundai Motors India Ltd.
4. Tata Motors Ltd.
5. General Motors
6. Hindustan Motors Ltd.
7. FIAT Motors
8. Ford India
9. Honda
10. Mahindra
11. Skoda
12. Audi
13. Nissan
14. Volkswagen
15. Mercedes-Benz
16. Ashok Leyland
17. Swaraj Mazda
18. Eicher.
19. Force Motors
20. Volvo
21. Mahindra Navistar
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India’s CNG and LPG Vehicle Market Regional Insights:
The India’s CNG and LPG Vehicle market demonstrates extensive segmentation across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report offers a comprehensive evaluation of various aspects, encompassing factors, market dimensions, growth pace, and regional import-export dynamics. This analysis delves into both local and country levels within each region.
Key questions answered in the India’s CNG and LPG Vehicle Market are:
Key Offerings:
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