India CNG Vehicles Market Size
Icons | Lable | Value |
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Study Period | 2016 - 2029 | |
Market Size (2024) | USD 9.37 Billion | |
Market Size (2029) | USD 13.55 Billion | |
Largest Share by Vehicle Type | Passenger Vehicles | |
CAGR (2024 - 2029) | 7.66 % | |
Fastest Growing by Vehicle Type | Passenger Vehicles | |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
India CNG Vehicles Market Analysis
The India CNG Vehicles Market size is estimated at USD 9.37 billion in 2024, and is expected to reach USD 13.55 billion by 2029, growing at a CAGR of 7.66% during the forecast period (2024-2029).
- Fastest-growing Segment by Fuel Type - CNG : Less carbon emission, less price over petrol and diesel, and better fuel economy are making CNG the fastest-growing fuel type in passenger car sales in India.
- Largest Segment by Body Type - Heavy-duty Commercial Trucks : Hatchback CNG vehicles dominated the market primarily due to the launch of new models and the growing emphasis on the increased fuel efficiency and parking space.
India CNG Vehicles Market Trends
This section covers the major market trends shaping the India CNG Vehicles Market according to our research experts:
Passenger Vehicles is the largest segment by Vehicle Type.
India CNG Vehicles Industry Overview
The India CNG Vehicles Market is moderately consolidated, with the top five companies occupying 49.48%. The major players in this market are Hyundai Motor, Mahindra & Mahindra, Maruti Suzuki, Tata Motors and VE Commercial Motors (sorted alphabetically).
India CNG Vehicles Market Leaders
Hyundai Motor
Mahindra & Mahindra
Maruti Suzuki
Tata Motors
VE Commercial Motors
*Disclaimer: Major Players sorted in no particular order
India CNG Vehicles Market Report - Table of Contents
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1. EXECUTIVE SUMMARY & KEY FINDINGS
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2. REPORT OFFERS
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3. INTRODUCTION
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3.1 Study Assumptions & Market Definition
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3.2 Scope of the Study
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3.3 Research Methodology
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4. KEY INDUSTRY TRENDS
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4.1 Population
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4.2 GDP
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4.3 CVP
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4.4 Inflation Rate
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4.5 Interest Rate For Auto Loans
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4.6 Battery Price (per Kwh)
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4.7 Electrification Impact
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4.8 New XEV Models Announced
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4.9 Charging Stations Deployment
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4.10 Regulatory Framework
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4.11 Value Chain & Distribution Channel Analysis
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5. MARKET SEGMENTATION
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5.1 Vehicle Type
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5.1.1 Commercial Vehicles
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5.1.1.1 Light Commercial Vehicles
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5.1.1.1.1 Light Commercial Pick-up Trucks
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5.1.1.1.2 Light Commercial Vans
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5.1.1.2 Trucks
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5.1.1.2.1 Heavy-duty Commercial Trucks
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5.1.1.2.2 Light Commercial Pick-up Trucks
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5.1.1.2.3 Medium-duty Commercial Trucks
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5.1.2 Passenger Vehicles
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5.1.2.1 Passenger Cars
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6. COMPETITIVE LANDSCAPE
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6.1 Key Strategic Moves
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6.2 Market Share Analysis
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6.3 Company Landscape
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6.4 Company Profiles
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6.4.1 Ashok Leyland
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6.4.2 Ford Motor Company
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6.4.3 Honda Motor Co. Ltd.
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6.4.4 Hyundai Motor
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6.4.5 JBM Auto Ltd
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6.4.6 Mahindra & Mahindra
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6.4.7 Man SE
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6.4.8 Maruti Suzuki
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6.4.9 Tata Motors
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6.4.10 VE Commercial Motors
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7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
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8. APPENDIX
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8.1 Global Overview
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8.1.1 Overview
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8.1.2 Porter's Five Forces Framework
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8.1.3 Global Value Chain Analysis
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8.1.4 Market Dynamics (DROs)
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8.2 Sources & References
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8.3 List of Tables & Figures
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8.4 Primary Insights
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8.5 Data Pack
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8.6 Glossary of Terms
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List of Tables & Figures
- Figure 1:
- INDIA CNG VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
- Figure 2:
- INDIA CNG VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
- Figure 3:
- INDIA CNG VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
- Figure 4:
- INDIA CNG VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
- Figure 5:
- INDIA CNG VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
- Figure 6:
- INDIA CNG VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
- Figure 7:
- INDIA CNG VEHICLES MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
- Figure 8:
- INDIA CNG VEHICLES MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
- Figure 9:
- INDIA CNG VEHICLES MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
- Figure 10:
- INDIA CNG VEHICLES MARKET, VOLUME IN UNITS, 2016 – 2026
- Figure 11:
- INDIA CNG VEHICLES MARKET, VALUE IN USD, 2016 – 2026
- Figure 12:
- INDIA CNG VEHICLES MARKET, BY VEHICLE TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 13:
- INDIA CNG VEHICLES MARKET, BY VEHICLE TYPE, BY VALUE IN USD, 2016-2028
- Figure 14:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
- Figure 15:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
- Figure 16:
- INDIA CNG VEHICLES MARKET, BY BODY TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 17:
- INDIA CNG VEHICLES MARKET, BY BODY TYPE, BY VALUE IN USD, 2016-2028
- Figure 18:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2016 - 2016
- Figure 19:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2016 - 2016
- Figure 20:
- INDIA CNG VEHICLES MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 21:
- INDIA CNG VEHICLES MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
- Figure 22:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2016
- Figure 23:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2016
- Figure 24:
- INDIA CNG VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2016-2028
- Figure 25:
- INDIA CNG VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2016-2028
- Figure 26:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
- Figure 27:
- INDIA CNG VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2016-2028
- Figure 28:
- INDIA CNG VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2016-2028
- Figure 29:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
- Figure 30:
- INDIA CNG VEHICLES MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 31:
- INDIA CNG VEHICLES MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
- Figure 32:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
- Figure 33:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2028
- Figure 34:
- INDIA CNG VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
- Figure 35:
- INDIA CNG VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
- Figure 36:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
- Figure 37:
- INDIA CNG VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2016-2028
- Figure 38:
- INDIA CNG VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2016-2028
- Figure 39:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
- Figure 40:
- INDIA CNG VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
- Figure 41:
- INDIA CNG VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
- Figure 42:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2021 - 2028
- Figure 43:
- INDIA CNG VEHICLES MARKET, BY BODY TYPE, BY VOLUME IN UNITS, 2016-2028
- Figure 44:
- INDIA CNG VEHICLES MARKET, BY BODY TYPE, BY VALUE IN USD, 2016-2028
- Figure 45:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2016 - 2028
- Figure 46:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2016 - 2028
- Figure 47:
- INDIA CNG VEHICLES MARKET, BY PASSENGER CARS, BY VOLUME IN UNITS, 2016-2028
- Figure 48:
- INDIA CNG VEHICLES MARKET, BY PASSENGER CARS, BY VALUE IN USD, 2016-2028
- Figure 49:
- INDIA CNG VEHICLES MARKET MARKET, SHARE(%), BY BODY TYPE, 2021 - 2028
- Figure 50:
- INDIA CNG VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 51:
- INDIA CNG VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 52:
- INDIA CNG VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021
India CNG Vehicles Industry Segmentation
Commercial Vehicles, Passenger Vehicles are covered as segments by Vehicle Type.Vehicle Type | |||||||||||
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Market Definition
- Body Type - It includes passenger cars, buses, light commercial vehicles, medium& heavy-duty vehicles, medium and heavy-duty buses, trucks, M&HDT.
- Engine Type -
- Fuel Type -
- Sub Body Type -
- Vehicle Type - It includes passenger vehicles and commercial vehicles.
Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms