Commodities Buzz: Automotive Natural Gas Vehicle Market Expected To Mark CAGR of 7%

14 Sep 2022 , 06:19 PM

According to a report from Future Market Insights, the automotive natural gas vehicle market is expected to create excellent growth opportunities during the assessment period from 2022 to 2032 with a phenomenal CAGR of 7%. The market was estimated to experience heightened sales in the last 3 to 4 years. As an alternative to diesel and petrol, the automotive natural gas vehicle uses compressed natural gas (CNG) or liquified natural gas (LNG) are highly used as a preferred alternative. Natural gas is widely used in lift trucks, buses, light, and heavy trucks, motorcycles, cars, vans, and locomotives. Natural gas options are preferred as it is an economical option and environment-friendly alternative over diesel or petrol. At present, the penetration of automotive natural gas vehicles is less attributed to its operational advantages. Although in the future, the penetration is predicted to increase. Powered by Commodity Insights