REPORT OUTLOOK
Market Size | CAGR | Dominating Region |
---|---|---|
3.96 billion | 12.9% | North America |
By Type | By Application | By Region |
---|---|---|
|
|
|
SCOPE OF THE REPORT
LNG Truck Market Overview
The global LNG truck Market is estimated to grow from USD 1.2 billion in 2022 to USD 3.96 billion by 2029, at a CAGR of 12.9% during the forecast period.
An LNG truck is a vehicle that uses liquefied natural gas (LNG) as fuel. Natural gas vehicles have been around for decades, but the Market has grown significantly in recent years due to increased availability of LNG and increased environmental awareness. As awareness of the harmful effects of carbon emissions grows, demand for vehicles powered by liquefied natural gas (LNG) is increasing. Commercial vehicle manufacturers are constantly experimenting with different technologies to ensure that their commercial vehicles are not only safe, but also environmentally friendly and efficient.
The global market for natural gas trucks will continue to grow, supported by stricter emissions and noise regulations and lower natural gas prices. The MD truck segment, which consists of scrap and distribution, will grow in the medium term, while long-haul vehicles will continue to grow in critical demand for natural gas vehicles through the expansion of OEM and Tier I engine supplier fueling infrastructure and internal NG engine platforms provide a boost. The study captures important emerging trends in major natural gas Markets in North America, Europe and China. It also focuses on technology penetration in various duty cycle applications.
ATTRIBUTE | DETAILS |
Study period | 2023-2029 |
Base year | 2022 |
Estimated year | 2023 |
Forecasted year | 2023-2029 |
Historical period | 2018-2022 |
Unit | Value (USD BILLION), (THOUSAND UNITS). |
Segmentation | By Type, By Application, By Region |
By Type
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By Application
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By Region
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Governments in various regions are accepting his LNG commercial vehicles as an alternative to diesel and petrol until automakers design and develop affordable and practical electric vehicles. In addition, governments are taking initiatives and increasing investments to build adequate infrastructure, which is boosting the growth of the LNG commercial vehicle Market which creates large amounts of evaporation loss. On the other hand, for large long heavy trucks, LNG is a best option as it moves continuously.
Market growth is attributed to increasing demand for LNG trucks due to strict emission standards and increasing use of natural gas as a transportation fuel. A major factor driving the global LNG commercial vehicle Market is the growing awareness of the dangerous impact of carbon emissions on the global environment. LNG commercial vehicles are being considered by the government as an alternative and his OEMs in various regions as an alternative to gasoline and diesel vehicles to reduce CO2 emissions and improve efficiency and productivity of commercial vehicles.
As natural gas production has become easier and safer, hence LNG adoption rate among automakers has increased. Another factor driving this LNG commercial vehicles in the world is government support and technological advancements in the LNG commercial vehicle Market.
Especially in developing regions, the infrastructure required for the growth of the LNG commercial vehicle Market is not in place. Bunkering infrastructure, distribution networks, etc. are restraining the growth of the LNG commercial vehicle Market. The main limiting factors are depletion of natural resources and higher operating costs per kg compared to medium and large LNG. It is this issue that is hindering growth for manufacturers of innovative LNG products. Decreasing the LNG truck Market.
For gasoline and diesel commercial vehicles with a focus on long-term contracts. Major manufacturers are focusing on developing emerging regions such as China. Brazil and other countries where the automotive industry is developing rapidly and the demand for skid steer loaders is increasing. Favorable government initiatives related to environmental regulations to increase demand for greener solutions create more revenue opportunities for Market participants. The European Commission and other federal agencies are creating new laws and regulations such as the Eco Product Certification Scheme (ECS). These regulations ensure a green and sustainable environment with low or no harmful emissions. To produce greener fuels, these regulations will encourage fuel companies to invest in bio-based fuel sources, increasing demand for greener fuel solutions. United States and Western European government regulations, particularly on air pollution, will continue to favor the use of clean fuels. These initiatives create specific growth opportunities in the Market of LNG and as a result in LNG truck over the forecast period.
In 2022, the rise of the COVID-19 pandemic hurt the transportation sector due to nationwide manufacturing plant closures, labor shortages, and contraction of global supply and demand chains. These factors have temporarily impacted the growth of his small LNG industry, which is primarily used as fuel for his LNG trucks and vehicles. However, since 2021, many countries around the world have seen a steady recovery in automotive sector production activity, increasing demand for small-scale LNG and as a LNG’s increasing demand Market of LNG truck is also boosted.
LNG Truck Market Segment Analysis
The LNG truck Market is segmented based on type, application and region, global trends and forecast.
By Type, the Market is bifurcated into (Tractor Truck, Dump Truck, Other). By Application (Transportation, Construction) and Region, Global trends and forecast.
A tractor-trailer is a large vehicle used to tow trailers and other vehicles. They are usually equipped with a fifth wheel that allows the tractor to tow the semitrailer. Tractor units are often used in the transportation industry for long-distance cargo transportation. The segment is expected to maintain its leadership during the forecast period due to the growing demand, LNG as a fuel source for heavy duty vehicles. The high efficiency and low emissions of LNG make it an attractive option for shipping companies looking to reduce their carbon footprint.
A dump truck is a vehicle for transporting loose materials such as sand, gravel, and mud. It consists of an open box bed that can be lifted at the front end to place the contents on the floor behind. These trucks are commonly used to transport materials from one location to another in construction and mining activities. This segment is expected to grow at a significant CAGR during the forecast period owing to increasing demand from construction companies looking for less polluting alternatives to diesel fuel.
The transportation industry is the largest consumer of his LNG trucks. The growth of this segment is due to the growing demand for natural gas as a fuel for commercial vehicles due to its low emissions and high efficiency. Natural gas-powered vehicles produce less greenhouse gas emissions than traditional diesel-powered vehicles, making them an attractive alternative for transportation companies looking to reduce their carbon footprint. The use of liquefied natural gas (LNG) in heavy commercial vehicles results in particulate matter and nitrogen oxide emissions when used as an engine fuel or cooling medium in compression processes in truck terminals and distribution centers such as warehouses and ports.
The construction industry is his second largest consumer of LNG trucks. The growth of this segment is due to the growing demand for natural gas as a fuel for construction machinery due to its low emissions and high efficiency. Construction companies are looking for ways to reduce their environmental impact, and switching to natural gas-powered vehicles is one way. In addition, the use of LNG in construction equipment results in near-zero emissions of particulate matter and nitrogen oxides when used as engine fuel and as a cooling medium for compression processes at construction sites.
LNG Truck Market Players
The LNG Truck Market key players include Volvo Trucks, Fiat Industrial, China International Marine Containers (Group), Sinotruk Group, Paccar, Scania, Shaanxi Automobile Group, Faw jiefang, Daimler, ISUZU.
Recent Developments
1-2-2023 Volvo launches powerful biogas truck for lowering CO2 on longer transports
Volvo Trucks is now launching a new, stronger gas-powered truck that can run on liquified biogas. The new truck can carry out demanding, long distance transport tasks, while reducing overall CO2 emissions.
CIMC Enric Boosting LNG Logistics Mode Upgrade
Who Should Buy? Or Key stakeholders
- LNG truck Suppliers
- Raw Materials Manufacturers
- Manufacturing Companies
- LNG Suppliers
- Mining Industries
- Filtration Industries
- Research Organizations
- Investors
- Regulatory Authorities
- Others
LNG Truck Market Regional Analysis
The LNG Truck Market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
- Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
- South America: includes Brazil, Argentina and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
The North American region is the largest Market for LNG trucks. The growth in this region can be attributed to the increasing demand for natural gas as a fuel source for commercial vehicles, owing to its low emissions and high efficiency. In addition, the abundance of natural gas resources in North America makes it an attractive option for transportation companies looking to switch to a less-polluting alternative fuel.
The South America region is the second largest Market for LNG trucks. Growth in the region is driven by the growing demand for natural gas as a fuel for commercial vehicles due to its low emissions and high efficiency. Moreover, economic growth in countries such as Brazil and Mexico is boosting the growth of this Market in South America.
The Europe region is his third largest Market for LNG trucks. Spain dominates the Market in terms of Market share and Market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The Market growth over this region is attributed to the easy availability of LNG fuel at a reasonable costs within the region. U.K. on the other hand, is estimated to show exponetial growth over the forecast period of 2022-2029, due to the strict government regulations within the region.
The Asia-Pacific region is expected to grow at a significant CAGR over the forecast period due to rising demand from developing countries such as India and China, which are increasingly interested in infrastructure development projects requiring the deployment of LNG.
The Middle East and Africa region is expected to grow at a moderate CAGR during the forecast period owing to rising demand for natural gas as a fuel source for commercial vehicles in countries such as Saudi Arabia and UAE.
Key Market Segments: LNG Truck Market
LNG Truck Market by Type, 2022-2029, (USD Billion), (Thousand Units).
- Tractor Truck
- Dump Truck
- Other
LNG Truck Market by Product, 2022-2029, (USD Billion), (Thousand Units).
- Transportation
- Construction
LNG Truck Market by Region, 2022-2029, (USD Billion), (Thousand Units).
- North America
- Asia Pacific
- Europe
- South America
- Middle East And Africa
Important Countries In All Regions Are Covered.
Key Question Answered
- What is the current size of the LNG Truck Market?
- What are the key factors influencing the growth of LNG trucks?
- What are the major applications for LNG trucks?
- Who are the major key players in the LNG Truck Market?
- Which region will provide more business opportunities for LNG truck in future?
- Which segment holds the maximum share of the LNG Truck Market?
Table of Content
- INTRODUCTION
- MARKET DEFINITION
- MARKET SEGMENTATION
- RESEARCH TIMELINES
- ASSUMPTIONS AND LIMITATIONS
- RESEARCH METHODOLOGY
- DATA MINING
- SECONDARY RESEARCH
- PRIMARY RESEARCH
- SUBJECT-MATTER EXPERTS’ ADVICE
- QUALITY CHECKS
- FINAL REVIEW
- DATA TRIANGULATION
- BOTTOM-UP APPROACH
- TOP-DOWN APPROACH
- RESEARCH FLOW
- DATA SOURCES
- DATA MINING
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GLOBAL SMART GLASS OUTLOOK
- MARKET DRIVERS
- MARKET RESTRAINTS
- MARKET OPPORTUNITIES
- IMPACT OF COVID-19 ON SMART GLASS
- PORTER’S FIVE FORCES MODEL
- THREAT FROM NEW ENTRANTS
- THREAT FROM SUBSTITUTES
- BARGAINING POWER OF SUPPLIERS
- BARGAINING POWER OF CUSTOMERS
- DEGREE OF COMPETITION
- INDUSTRY VALUE CHAIN ANALYSIS
- GLOBAL SMART GLASS OUTLOOK
- GLOBAL LNG TRUCK MARKET BY TYPE, 2022-2029, (USD BILLION, THOUSAND UNITS)
- TRACTOR TRUCK
- DUMP TRUCK
- OTHER
- GLOBAL LNG TRUCK MARKET BY APPLICATION, 2022-2029, (USD BILLION, THOUSAND UNITS)
- TRANSPORTATION
- CONSTRUCTION
- GLOBAL LNG TRUCK MARKET BY REGION, 2022-2029, (USD BILLION, THOUSAND UNITS)
- NORTH AMERICA
- US
- CANADA
- MEXICO
- SOUTH AMERICA
- BRAZIL
- ARGENTINA
- COLOMBIA
- REST OF SOUTH AMERICA
- EUROPE
- GERMANY
- UK
- FRANCE
- ITALY
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA PACIFIC
- INDIA
- CHINA
- JAPAN
- SOUTH KOREA
- AUSTRALIA
- SOUTH-EAST ASIA
- REST OF ASIA PACIFIC
- MIDDLE EAST AND AFRICA
- UAE
- SAUDI ARABIA
- SOUTH AFRICA
- REST OF MIDDLE EAST AND AFRICA
- NORTH AMERICA
- COMPANY PROFILES* (BUSINESS OVERVIEW, COMPANY SNAPSHOT, PRODUCTS OFFERED, RECENT DEVELOPMENTS)
- VOLVO TRUCKS
- FIAT INDUSTRIAL
- CHINA INTERNATIONAL MARINE CONTAINERS (GROUP)
- SINOTRUK GROUP
- PACCAR
- SCANIA
- SHAANXI AUTOMOBILE GROUP
- FAW JIEFANG
- DAIMLER
- ISUZU *THE COMPANY LIST IS INDICATIVE
Â
LIST OF TABLES
TABLE 1Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 2Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 3Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 4Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 5Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK MARKET BY REGION (USD BILLION), 2022-2029
TABLE 6Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK MARKET BY REGION (THOUSAND UNITS), 2022-2029
TABLE 7Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 8Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 9Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 10Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 11Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA LNG TRUCK MARKET BY COUNTRY (USD BILLION), 2022-2029
TABLE 12Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA LNG TRUCK MARKET BY COUNTRY (THOUSAND UNITS), 2022-2029
TABLE 13Â Â Â Â Â Â Â Â Â Â Â Â Â US LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 14Â Â Â Â Â Â Â Â Â Â Â Â Â US LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 15Â Â Â Â Â Â Â Â Â Â Â Â Â US LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 16Â Â Â Â Â Â Â Â Â Â Â Â Â US LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 17Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 18Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 19Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 20Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 21Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 22Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 23Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 24Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 25Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 26Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 27Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 28Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 29Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 30Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 31Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 32Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 33Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 34Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 35Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 36Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 37Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 38Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 39Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 40Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 41Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 42Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 43Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 44Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 45Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 46Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 47Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 48Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 49Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC LNG TRUCK MARKET BY COUNTRY (USD BILLION), 2022-2029
TABLE 50Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC LNG TRUCK MARKET BY COUNTRY (THOUSAND UNITS), 2022-2029
TABLE 51Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 52Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 53Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 54Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 55Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 56Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 57Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 58Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 59Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 60Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 61Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 62Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 63Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 64Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 65Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 66Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 67Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 68Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 69Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 70Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 71Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH EAST ASIA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 72Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH EAST ASIA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 73Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH EAST ASIA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 74Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH EAST ASIA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 75Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 76Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 77Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 78Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 79Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 80Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 81Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 82Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 83Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE LNG TRUCK MARKET BY COUNTRY (USD BILLION), 2022-2029
TABLE 84Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE LNG TRUCK MARKET BY COUNTRY (THOUSAND UNITS), 2022-2029
TABLE 85Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 86Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 87Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 88Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 89Â Â Â Â Â Â Â Â Â Â Â Â Â UK LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 90Â Â Â Â Â Â Â Â Â Â Â Â Â UK LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 91Â Â Â Â Â Â Â Â Â Â Â Â Â UK LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 92Â Â Â Â Â Â Â Â Â Â Â Â Â UK LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 93Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 94Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 95Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 96Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 97Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 98Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 99Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 100Â Â Â Â Â Â Â Â Â Â Â ITALY LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 101Â Â Â Â Â Â Â Â Â Â Â SPAIN LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 102Â Â Â Â Â Â Â Â Â Â Â SPAIN LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 103Â Â Â Â Â Â Â Â Â Â Â SPAIN LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 104Â Â Â Â Â Â Â Â Â Â Â SPAIN LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 105Â Â Â Â Â Â Â Â Â Â Â RUSSIA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 106Â Â Â Â Â Â Â Â Â Â Â RUSSIA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 107Â Â Â Â Â Â Â Â Â Â Â RUSSIA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 108Â Â Â Â Â Â Â Â Â Â Â RUSSIA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 109Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 110Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 111Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 112Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 113Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 114Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 115Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 116Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 117Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY COUNTRY (USD BILLION), 2022-2029
TABLE 118Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY COUNTRY (THOUSAND UNITS), 2022-2029
TABLE 119Â Â Â Â Â Â Â Â Â Â Â UAE LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 120Â Â Â Â Â Â Â Â Â Â Â UAE LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 121Â Â Â Â Â Â Â Â Â Â Â UAE LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 122Â Â Â Â Â Â Â Â Â Â Â UAE LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 123Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 124Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 125Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 126Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 127Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 128Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 129Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 130Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
TABLE 131Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY TYPE (USD BILLION), 2022-2029
TABLE 132Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY TYPE (THOUSAND UNITS), 2022-2029
TABLE 133Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY APPLICATION (USD BILLION), 2022-2029
TABLE 134Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA LNG TRUCK MARKET BY APPLICATION (THOUSAND UNITS), 2022-2029
LIST OF FIGURES
FIGURE 1Â Â Â Â Â Â Â Â Â Â Â Â MARKET DYNAMICS
FIGURE 2Â Â Â Â Â Â Â Â Â Â Â Â MARKET SEGMENTATION
FIGURE 3Â Â Â Â Â Â Â Â Â Â Â Â REPORT TIMELINES: YEARS CONSIDERED
FIGURE 4Â Â Â Â Â Â Â Â Â Â Â Â DATA TRIANGULATION
FIGURE 5Â Â Â Â Â Â Â Â Â Â Â Â BOTTOM-UP APPROACH
FIGURE 6Â Â Â Â Â Â Â Â Â Â Â Â TOP-DOWN APPROACH
FIGURE 7Â Â Â Â Â Â Â Â Â Â Â Â RESEARCH FLOW
FIGURE 8Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK BY TYPE, USD MILLION, 2022-2029
FIGURE 9Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK BY APPLICATION, USD MILLION, 2022-2029
FIGURE 10Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK BY REGION, USD MILLION, 2022-2029
FIGURE 11          PORTER’S FIVE FORCES MODEL
FIGURE 12Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK BY TYPE, USD MILLION, 2021
FIGURE 13Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK BY APPLICATION, USD MILLION, 2021
FIGURE 14Â Â Â Â Â Â Â Â Â Â GLOBAL LNG TRUCK BY REGION, USD MILLION, 2021
FIGURE 15Â Â Â Â Â Â Â Â Â Â MARKET SHARE ANALYSIS
FIGURE 16Â Â Â Â Â Â Â Â Â Â VOLVO TRUCKS: COMPANY SNAPSHOT
FIGURE 17Â Â Â Â Â Â Â Â Â Â FIAT INDUSTRIAL: COMPANY SNAPSHOT
FIGURE 18Â Â Â Â Â Â Â Â Â Â CHINA INTERNATIONAL MARINE CONTAINERS (GROUP): COMPANY SNAPSHOT
FIGURE 19Â Â Â Â Â Â Â Â Â Â SINOTRUK GROUP: COMPANY SNAPSHOT
FIGURE 20Â Â Â Â Â Â Â Â Â Â PACCAR: COMPANY SNAPSHOT
FIGURE 21Â Â Â Â Â Â Â Â Â Â SCANIA: COMPANY SNAPSHOT
FIGURE 22Â Â Â Â Â Â Â Â Â Â SHAANXI AUTOMOBILE GROUP: COMPANY SNAPSHOT
FIGURE 23Â Â Â Â Â Â Â Â Â Â FAW JIEFANG: COMPANY SNAPSHOT
FIGURE 24Â Â Â Â Â Â Â Â Â Â DAIMLER: COMPANY SNAPSHOT
FIGURE 25Â Â Â Â Â Â Â Â Â Â ISUZU: COMPANY SNAPSHOT
FAQ
The Global LNG Truck Market is estimated to grow from USD 1.2 billion in 2022 to USD 3.96 billion by 2029, at a CAGR of 12.9% during the forecast period.
North America held more than 25% of the LNG Truck Market revenue share in 2021 and will witness expansion in the forecast period.
Market growth is attributed to increasing demand for LNG trucks due to strictly emission standards and increasing use of natural gas as a transportation fuel. A major factor driving the global LNG commercial vehicle Market is the growing awareness of the dangerous impact of carbon emissions on the global environment. LNG commercial vehicles are being considered by the government as an alternative and his OEMs in various regions as an alternative to gasoline and diesel vehicles to reduce CO2 emissions and improve efficiency and productivity of commercial vehicles. As natural gas production has become easier and safer, hence LNG adoption rate among automakers has increased. Another factor driving this LNG commercial vehicles in the world is government support and technological advancements in the LNG commercial vehicle Market.
An LNG truck is a vehicle that uses liquefied natural gas (LNG) as fuel. Natural gas vehicles have been around for decades, but the Market has grown significantly in recent years due to increased availability of LNG and increased environmental awareness. As awareness of the harmful effects of carbon emissions grows, demand for vehicles powered by liquefied natural gas (LNG) is increasing. Commercial vehicle manufacturers are constantly experimenting with different technologies to ensure that their commercial vehicles are not only safe, but also environmentally friendly and efficient.
The North American region is the largest Market for LNG trucks. The growth in this region can be attributed to the increasing demand for natural gas as a fuel source for commercial vehicles, owing to its low emissions and high efficiency. In addition, the abundance of natural gas resources in North America makes it an attractive option for transportation companies looking to switch to a less-polluting alternative fuel.
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