CNG Vehicles Market Size is Anticipated to Hit USD 310.32 billion by 2030

CNG Vehicles Market Overview

CNG Vehicles Market is projected to be worth USD 310.32 billion by 2030, registering a CAGR of 14.72% during the forecast period (2022 to 2030). The global CNG Vehicles market is driven by clean technology adoption as well as demand for dual fuel systems in vehicles. These factors have helped shape the CNG vehicles market and are expected to boost growth. Companies in the CNG vehicles market could also face challenges such as lack of infrastructure in some countries as well as high maintenance costs. The details covered in the CNG vehicles market report cover all the aspects of the industry. Analysts studying the CNG vehicles market have also shared growth projections in the report and have suggested CNG vehicles market players to plan business strategies accordingly.

A compressed natural gas vehicle is an alternative fuel vehicle that uses compressed natural gas instead of gasoline or diesel. CNG or compressed natural gas is stored at a high pressure of between 3,000 and 3,600 pounds per square inch (21 to 25 MPa). The tank required is larger and more expensive than the conventional fuel tank. The emissions of the CNG vehicle are cleaner, with lower carbon emissions and lower particulate emissions per equivalent distance traveled. Generally, there is less fuel wasted.