Global Heavy-duty Liquefied Natural Gas (LNG) Vehicle Market Growth 2023-2029

Heavy-duty liquefied natural gas (LNG) vehicles work much like gasoline-powered vehicles with a spark-ignited internal combustion engine. The natural gas is super-cooled and cryogenically stored in liquid form, usually in a tank on the side of the truck. LNG is typically a more expensive option than compressed natural gas (CNG) and is most often used in heavy-duty vehicles to meet longer range requirements. Because it is a liquid, the energy density of LNG is greater than CNG, so more fuel can be stored on board the vehicle. This makes LNG well suited for Class 7 and 8 trucks traveling greater distances.

Researcher's newest research report, the “Heavy-duty Liquefied Natural Gas (LNG) Vehicle Industry Forecast” looks at past sales and reviews total world Heavy-duty Liquefied Natural Gas (LNG) Vehicle sales in 2022, providing a comprehensive analysis by region and market sector of projected Heavy-duty Liquefied Natural Gas (LNG) Vehicle sales for 2023 through 2029. With Heavy-duty Liquefied Natural Gas (LNG) Vehicle sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Heavy-duty Liquefied Natural Gas (LNG) Vehicle industry.

This Insight Report provides a comprehensive analysis of the global Heavy-duty Liquefied Natural Gas (LNG) Vehicle landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Heavy-duty Liquefied Natural Gas (LNG) Vehicle portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Heavy-duty Liquefied Natural Gas (LNG) Vehicle market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Heavy-duty Liquefied Natural Gas (LNG) Vehicle and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Heavy-duty Liquefied Natural Gas (LNG) Vehicle.

The global Heavy-duty Liquefied Natural Gas (LNG) Vehicle market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

United States market for Heavy-duty Liquefied Natural Gas (LNG) Vehicle is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

China market for Heavy-duty Liquefied Natural Gas (LNG) Vehicle is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Europe market for Heavy-duty Liquefied Natural Gas (LNG) Vehicle is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Global key Heavy-duty Liquefied Natural Gas (LNG) Vehicle players cover Kanon Loading Equipment, OPW, Safe Harbor, IGATEC GmbH, JLA Loading Technology, Liquip, WLT, Seti Petroleum Equipment and Carbis Solutions, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.

This report presents a comprehensive overview, market shares, and growth opportunities of Heavy-duty Liquefied Natural Gas (LNG) Vehicle market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Fuel

New Energy

Segmentation by application

Biodiesel

Electricity

Ethanol

Hydrogen

Natural Gas

Propane

Emerging Fuels

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Kanon Loading Equipment

OPW

Safe Harbor

IGATEC GmbH

JLA Loading Technology

Liquip

WLT

Seti Petroleum Equipment

Carbis Solutions

Woodfield Systems

Key Questions Addressed in this Report

What is the 10-year outlook for the global Heavy-duty Liquefied Natural Gas (LNG) Vehicle market?

What factors are driving Heavy-duty Liquefied Natural Gas (LNG) Vehicle market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Heavy-duty Liquefied Natural Gas (LNG) Vehicle market opportunities vary by end market size?

How does Heavy-duty Liquefied Natural Gas (LNG) Vehicle break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Frequently Asked Questions