North America Liquefied Petroleum Gas (LPG) Vehicles Market, By 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) – Industry Trends and Forecast to 2029.
North America Liquefied Petroleum Gas (LPG) Vehicles Market Analysis and Size
Liquefied Petroleum Gas (LPG) possesses several enhanced properties which make it suitable for product usage in the automotive industries. The rising urbanization and modernization is also the factor propelling the growth of the market
Liquefied petroleum gas (LPG) vehicles market was valued at USD 1282.21 million in 2021 and is expected to reach USD 2090.38 million by 2029, registering a CAGR of 6.30% during the forecast period of 2022-2029. 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 also includes in-depth expert analysis, import/export analysis, pricing analysis, production and sales, and pestle analysis.
North America Liquefied Petroleum Gas (LPG) Vehicles Market Scope and 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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Market Opportunities
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Market Definition
The liquefied petroleum gas (LPG) is known as the propane or autogas vehicle. Its family contains of various hydrocarbon gases filled with pressurization processes and is particularly used in the vehicles as fuel.
North America Liquefied Petroleum Gas (LPG) Vehicles Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Surging Usage across Automotive Sector
The use of liquefied petroleum gases across the automotive sector is the primary factor driving the market's growth over the forecasted period. The various enhanced factors such as best performance in cold weather, high economic properties and more excellent reliability factors are fueling the growth of the market. Moreover, the eco-friendly and safer enhancements in the product have led to an increase in the demand and supplies of the product across the globe that has ultimately led to the factor driving the market’ growth.
- Rapid urbanization and modernization
Rapid urbanization and modernization across many countries fuels the market growth. The shifting preferences of consumers towards better enhanced, effective and greener solutions is the major factor driving the growth of the market. Moreover, the rising disposable income of the growing population across developing nations such as China and India is also a factor driving the market's growth over the forecasted period.
Opportunities
- Regulations and rising demands for eco-friendly solutions
The favorable initiatives by government associated with environmental regulations to increase demand for liquefied petroleum gases in the automotive sector will further extend profitable opportunities to the market players in the forecast period. The European Commission and other federal government agencies create new laws and regulations, such as the Eco-product Certification Scheme (ECS). These regulations guarantee low or no harmful compound emissions and a green and sustainable environment. All these parameters and regulations are creating significant growth opportunities for the market over the forecasted period.
Restraints/Challenges
- Decline in oil and gas extraction
The negative impact of decline in oil and gas extraction and supply chain activities across the globe is expected to obstruct market growth.
- High costs of production
The volatile prices of production sectors is the major factor creating hindrance for the market. Additionally, high costs of fabrication and operational safety coupled with the liquid gases are projected to be a challenge for the market over the forecast period.
This liquefied petroleum gas (LPG) vehicles market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the liquefied petroleum gas (LPG) vehicles market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Liquefied Petroleum Gas (LPG) Vehicles Market Scope
The liquefied petroleum gas (LPG) vehicles market is segmented on the basis of vehicle intake system type, fuel type, vehicle type and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
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
Nanorobotics Market Regional Analysis/Insights
The liquefied petroleum gas (LPG) vehicles market is analyzed and market size insights and trends are provided by vehicle intake system type, fuel type, vehicle type and sales channel as referenced above.
The countries covered in the liquefied petroleum gas (LPG) vehicles market report are U.S., Canada and Mexico in North America.
U.S. dominates the liquefied petroleum gas (LPG) vehicles market because of the rise in the adoption of the vehicles and prevalence of the manufacturing companies within the region.
Canada is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rise in the attention of the manufacturers within the region. Moreover, the rising governmental regulations regarding eco-friendly environment will also boost the regional market’s growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Liquefied Petroleum Gas (LPG) Vehicles Market Share Analysis
The liquefied petroleum gas (LPG) vehicles market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to liquefied petroleum gas (LPG) vehicles market.
Some of the major players operating in the 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.)
- 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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