Natural gas is popularly being used as an alternative fuel due to established distribution networks, easy domestic availability, and low cost and emissions. With the notable spike in the prices of gasoline in various countries, vehicle fleet managers and consumers seek alternative fuel for their vehicles. According to the AFDC, in 2019, the US imported 3% of its petroleum needs from other countries, and the transportation industry in the country accounts for ~30% of its total energy needs and 70% of its petroleum consumption. Using natural gas as an alternative fuel, along with advanced technologies, to lower fuel consumption is reinforcing national energy security and decreasing transportation energy costs for consumers and businesses.
AB Volvo, The Ford Motor Company., and General Motors are some of the key market players operating in the global natural gas vehicle market. The listing of key players is derived by considering multiple factors such as overall revenue, current natural gas vehicle solution portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the natural gas vehicle ecosystems which were studies analyzed during the course of this market research study, such as, Cummins Westport, Agility Fuel Solutions, CNH Industrial N.V. Nissan Motor Co., Ltd. among others. Further, in 2019, Agility Fuel Solutions for medium- and heavy-duty commercial vehicles, has received 2019 California Air Resources Board (CARB) certifications for its natural gas fuel system for installation on General Motors 6.0L gasoline engines.
AB Volvo, The Ford Motor Company, General Motors, Nissan Motor Co., Ltd. and Volkswagen AG – PROMINENT MARKET PARTICIPANTS IN NATURAL GAS VEHICLE MARKET
Market initiative is a strategy adopted by companies to expand their footprint across the world and to meet the growing customer demand. The market players present in the natural gas vehicle market are mainly focusing on approval by integrating advanced features and technologies. By signing partnerships, contracts, joint ventures, and inaugurating new offices across the world, companies are trying to increase their market share and brand presence. Most of the market initiatives were observed in the Asia Pacific, North America, and Europe regions, which have a high potential for future market growth:
| Year | News | Region |
| 2019 | Agility Fuel Solutions for medium- and heavy-duty commercial vehicles, has received 2019 California Air Resources Board (CARB) certifications for its natural gas fuel system for installation on General Motors 6.0L gasoline engines. | Europe |
| 2020 | Agility Fuel Solutions and urged the Indian automotive and fleet industry to implement long distance travel solutions with CNG. India’s Minister for Petroleum and Natural Gas, launched India’s first long distance compressed natural gas (CNG) bus under a strategic program led by Indraprastha Gas Limited (IGL), the largest CNG distribution company in India. | APAC |
| 2020 | CNH Industrial N.V.is one of the largest producers and distributors of meat products in Russia, Miratorg has chosen the Stralis NP 460 for its environmental performance, which is consistent with the company’s sustainable policy. Stralis NP 460 with CNG configuration is a long-haul transport vehicle. | Europe |
| 2019 | CGI won Trade Award for Best Natural Gas Vehicle Provider from GTR. The GTR Leaders in Trade Awards highlight excellence in the trade, commodity, supply chain, export finance and fintech markets. | North America |
