What’s the Current Status and Expected Growth of The Global Automotive Natural Gas Vehicle Market?
The automotive natural gas vehicle market has shown a positive growth trend in recent years. Records show that the market value increased from $12.18 billion in 2024 to $12.98 billion in 2025, recording a compound annual growth rate (CAGR) of 6.6%. Growth during this period can be attributed to factors such as concerns over energy security, emissions reduction, abundance of natural gas, cost savings, and government policies.
Forecasts also point to a further increase in the automotive natural gas vehicle market size. The market is projected to soar to $17.43 billion by 2029, with a CAGR of 7.6%. This growth is anticipated due to stricter emissions standards, advancements in renewable natural gas and electrification technologies, global expansion of infrastructure, energy transition policies, increased urbanization, consumer education, and heightened awareness. The forecast period also sees emerging trends like dual-fuel systems, lightweight vehicle design, enhanced storage technologies, autonomous natural gas vehicles, and advanced engine management systems further boosting the market growth.
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Which Factors Drive the Growth of the Automotive Natural Gas Vehicle Market?
Stringent air pollution control regulations are acting as significant drivers in the uptake of automotive natural gas vehicles. The inherent low emission properties of these vehicles due to natural gas having lower carbon content make them highly desirable in a scenario where governments globally are implementing stringent policies for pollution control.
In a significant 2023 development, the UK-based Department for Environment, Food and Rural Affairs established a legally binding limit on annual mean PM2.5 concentrations, under the Environmental Targets (Fine Particulate Matter) (England) Regulations 2023. This target, applicable to all monitoring stations across England, is slated to be achieved by 2040.
What are the Principal Segments Within the Global Automotive Natural Gas Vehicle Market?
The automotive natural gas vehicle market is primarily divided as follows:
1) By Vehicle Type: Light-Duty Vehicle, Medium-Duty Vehicle, High-Duty Vehicle
2) By Fuel Type: CNG, LNG
3) By Application: Commercial Vehicles, Passenger Cars
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Who Are the Main Players in the Automotive Natural Gas Vehicle Market?
Top active companies in the automotive natural gas vehicle market include Hexagon Composites ASA, AB Volvo, Beiqi Foton Motor Co. Ltd., CNH Industrial NV, Clean Energy Fuels Corp., Cummins Engine Company Inc., PACCAR International Inc., Navistar International Corp., Quantum Fuel Systems LLC, amongst others.
What Trends Are Emerging in the Automotive Natural Gas Vehicle Market?
Product innovations are currently trending in the automotive natural gas vehicle market. Market leading companies are investing in innovative technologies to reduce greenhouse gas emissions. Tata Motors, an India-based company, launched five CNG-powered trucks in September 2022, including India’s first CNG-powered M&HCV truck with an Advanced Driver Assistance System, among other models.
How is the Automotive Natural Gas Vehicle Market Performing Across Different Regions?
Asia-Pacific claimed the largest market share in the automotive natural gas vehicle market in 2024. The market report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa regions.
What Defines the Automotive Natural Gas Vehicle Market?
An automotive natural gas vehicle is an alternative fuel vehicle that uses natural gas instead of gasoline or diesel. They are cost-effective compared to gasoline and diesel vehicles and ensure a secure fuel supply, delivering high mileage and comfort with lower emissions.
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