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Comprehensive study by WMR on India CNG and LPG Vehicles Market and Analysis

India CNG and LPG Vehicles Market are expected to grow at 10 %.

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India CNG and LPG Vehicles market is segmented by fuel and by vehicle. Based on fuel India CNG and LPG vehicles market is fragmented into LPG vehicle and CNG vehicle. Passenger cars, buses, and light commercial vehicle are vehicle segment of India CNG and LPG vehicles market.

The increasing importance of clean economy and balance of the ecosystem is accompanied by governmental protocols and is driving Indias CNG and LPG vehicles market. Along with environmental concerns, the cost saving factor compares to conventional fuel will also subsidize to the CNG and LPG vehicle market.

According to the estimates, there are 7 lakh natural gas vehicles in the country. This is expected to increase to 58 lakh by 2026.

India CNG and LPG Vehicles Market

CNG vehicles dominated the market. India could have 10 million CNG vehicles on roads by 2026. Running cost per kilometer of CNG is Rs 2.15, which is the lowest among all fuel. LPG vehicle segment exhibits the constant growth of 3.5 %. 23 lakh vehicles are running on LPG gas. On an average 10,000-15,000 vehicles are converted into LPG vehicle monthly. Growth is attributed to declining as a result of the hike in crude oil prices.

Passenger cars is the leading segment in the India CNG and LPG vehicles market. Indias leading carmaker is more excited about natural gas than electric vehicles. Domestic LPG and mandate all government vehicles and commercial vehicles into gaseous fuels. Demand for passenger cars is growing triggered by an increase in per capita income and demand for luxury.

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Fiat S.P.A, Ford Motor Company, Volkswagen, General Motors, Honda Motor Co. Ltd., Hyundai Motor Group and Suzuki Motor Corporation are leading players in the India CNG and LPG Vehicles Market.
The scope of the India CNG and LPG Vehicles Market
India CNG and LPG Vehicles Market by Fuel Type:
CNG
LPG
India CNG and LPG Vehicles Market By Vehicle:
Passenger cars
Buses
Light Commercial Vehicle
Key Player analyzed in India CNG and LPG Vehicles Market:
Fiat
Ford Motor Company
Volkswagen
General Motors
Honda Motor Co. Ltd.
Hyundai Motor Group
Suzuki Motor Corporation



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