Liquefied petroleum gas (LPG) vehicles advance environmental sustainability. As a cleaner-burning fuel, LPG contributes significantly to global efforts to reduce the carbon footprint and combat climate change. Adopting LPG in vehicles aligns seamlessly with sustainability goals, offering a more environmentally friendly mode of transportation. By mitigating greenhouse gas emissions, LPG vehicles contribute to cleaner air quality and represent a tangible solution in the broader initiative to transition towards greener and more sustainable energy sources.
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Data Bridge Market Research analyses the North America Liquefied Petroleum Gas (LPG) Vehicles Market was valued at USD 1,282.21 million in 2021 and is expected to reach USD 2,090.38 million by 2029, registering a CAGR of 6.30% during the forecast period of 2022-2029. Government incentives, such as tax credits, subsidies, and grants, are critical drivers for the growth of the North America liquefied petroleum gas (LPG) vehicles market.
Key Findings of the Study
Increasing infrastructure development is expected to drive the market's growth rate
The growth of the North America liquefied petroleum gas (LPG) vehicles market is significantly driven by infrastructure development, particularly the expansion and enhancement of LPG refueling facilities. The increased availability of refueling stations plays a pivotal role in making LPG vehicles more practical and convenient for consumers and fleet operators. As the refueling infrastructure expands, it addresses accessibility concerns and encourages a broader adoption of LPG as an alternative fuel. This driver contributes to the market's growth and aligns with the evolving preferences for cleaner energy options in the transportation sector, reinforcing the appeal of LPG vehicles in North America.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Vehicle Intake System Type (LPG Liquid Phase Direct Injection (LPDI), LPG Liquid Injection system (LPI), LPG Vapor Phase Injection (VPI), LPG Convertor-and-Mixer Systems), Fuel type (Bio-Fuel LPG, Mono LPG), Vehicle Type (Light Commercial Vehicle, Passenger Cars, Heavy Commercial Vehicle), Sales Channel (OEMs, Aftermarket)
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Countries Covered
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U.S., Canada, and Mexico in North America
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Market Players Covered
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FCA US LLC. (U.K.), Mercedes-Benz Group AG. (Germany), Daimler Truck North America LLC. (U.S), Turtle Top, Inc. (U.S.), Blue Bird Corporation. (U.S.), REV GROUP (U.S.), Starcraft Bus, a Division of Forest River Bus, LLC. (U.S.), Isuzu Commercial Truck of Canada, Inc. (Canada), Ford Motor Company (U.S.), General Motors (U.S.), TOYOTA MOTOR CORPORATION. (U.S.), Honda Motor Co., Ltd. (Japan), Citroën (France), Geely (Hong Kong), FCA India Automobiles Private Limited (Italy), Dongfeng Motor Company (China)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The North America liquefied petroleum gas (LPG) vehicles market is segmented on the basis of vehicle intake system type, fuel type, vehicle type, and sales channel.
- On the basis of vehicle intake system type, the North America liquefied petroleum gas (LPG) vehicles market is segmented into LPG liquid phase direct injection (LPDI), LPG liquid injection system (LPI), LPG vapor phase injection (VPI), and LPG convertor-and-mixer systems
- On the basis of fuel type, the North America liquefied petroleum gas (LPG) vehicles market is segmented into bio-fuel LPG, and mono LPG
- On the basis of vehicle type, the North America liquefied petroleum gas (LPG) vehicles market is segmented into light commercial vehicle, passenger cars, and heavy commercial vehicle
- On the basis of sales channel, the North America liquefied petroleum gas (LPG) vehicles market is segmented into OEMs, and aftermarket
Major Players
Data Bridge Market Research recognizes the following companies as the major North America liquefied petroleum gas (LPG) vehicles market players in North America liquefied petroleum gas (LPG) vehicles market are FCA US LLC. (U.K.), Mercedes-Benz Group AG. (Germany), Daimler Truck North America LLC. (U.S), Turtle Top, Inc. (U.S.), Blue Bird Corporation. (U.S.), REV GROUP (U.S.), Starcraft Bus, a Division of Forest River Bus, LLC. (U.S.)
Market Developments
- In October 2022, Maire Tecnimont S.p.A., a prominent engineering and contracting company, announced a significant milestone with its principal subsidiary, Tecnimont S.p.A. The subsidiary secured an Engineering, Procurement, and Construction (EPC) contract from SONATRACH's Direction Centrale Engineering & Project Management. The contract pertains to developing an LPG extraction plant within the established Rhourde El Baguel oil and gas treatment complex in northeastern Algeria. The substantial contract, valued at approximately USD 380 million, underscores Maire Tecnimont's prowess in the execution of complex projects within the oil and gas sector
- In September 2022, Enterprise Products Partners announced its strategic plans to bolster its natural gas liquid (NGL) infrastructure in the prolific Permian Basin. This initiative involves the extension of its NGL pipeline system, along with the construction of two processing plants geared towards accommodating the region's burgeoning production volumes. Specifically, Enterprise Products Partners aims to augment its Shin Oak NGL pipeline by incorporating new pipelines and implementing modifications to existing pump stations. The envisioned expansion is poised to elevate the pipeline's capacity to 275,000 barrels per day (bpd), with the targeted completion slated for the initial part of 2024. This undertaking aligns with Enterprise Products Partners' commitment to facilitating the efficient transportation and processing of NGLs in response to the Permian Basin's sustained growth
- In February 2022, Indian Oil Corp. (IOC), a key player in the Indian energy sector, announced ambitious plans to enhance its LPG bottling capacity in Northeast India. The corporation outlined its proposal to construct three new plants dedicated to LPG bottling, aiming to boost the annual production capacity by nearly 53% to reach 8 crore cylinders by 2030. To realize this expansion endeavor, IOC anticipates a total investment of USD 43-46 million. This strategic move by IOC reflects a proactive response to the escalating demand for LPG in the Northeastern region, reaffirming the corporation's commitment to infrastructure development and meeting the energy needs of the burgeoning market
- In March 2021, Total launched the initial distribution phase of its innovative product, Total's Cutting Gas, targeting metal-cutting industries in Karnataka and Tamil Nadu. Developed as a safer and more efficient alternative to acetylene, traditionally used in metal cutting, Cutting Gas is an addicted LPG specifically designed for high-temperature applications. Total aims to revolutionize metal-cutting practices by addressing safety concerns associated with acetylene, offering businesses in these regions a superior solution for their metalworking needs. This moves underscores Total's commitment to advancing safety and performance standards in the industrial sector, potentially reshaping metalworking practices in key Indian states
Regional Analysis
Geographically, the countries covered in the North America liquefied petroleum gas (LPG) vehicles market report are U.S., Canada, and Mexico in North America.
As per Data Bridge Market Research analysis:
U.S. is the dominant country in North America liquefied petroleum gas (LPG) vehicles market during the forecast period 2022-2029
The U.S. dominates the liquefied petroleum gas (LPG) vehicles market due to a combination of factors. The country has experienced a surge in adopting alternative fuel vehicles driven by environmental concerns and government incentives. A well-established infrastructure, including an extensive network of refueling stations, supports the convenience and accessibility of LPG fuel. Government policies and incentives at the federal and state levels encourage investment in LPG vehicles, fostering market growth. The presence of manufacturing companies with technological expertise and research capabilities contributes to the innovation and production of diverse LPG vehicle options.
Canada is estimated to be the fastest growing country in the North America liquefied petroleum gas (LPG) vehicles market for the forecast period 2022-2029
Canada is expected to experience substantial growth from 2022 to 2029, driven by increased attention from manufacturers within the region and a growing focus on eco-friendly practices. The heightened interest from manufacturers underscores the economic potential in the Canada market. Furthermore, the country is experiencing a boost in regional market growth due to rising governmental regulations promoting environmental sustainability. Canada's commitment to eco-friendly initiatives creates a favorable environment for industries aligning with green technologies, positioning the nation as a key player in the global shift towards sustainable practices.
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