The report presents an in-depth assessment of the South America CNG and LPG Vehicle Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for South America CNG and LPG Vehicle investments from 2021 till 2025.
South America CNG and LPG Vehicle market is growing at a CAGR of 3% during the forecast period (2021-2025).
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The South America CNG and LPG Vehicle market is highly competitive and consists of a number of major players. Top Companies like TA Gas Technology, Fiat Motors, Encava, Cummins Inc., BRC Gas Equipments, Valtec, Zavoli, EMER
Industry News And Developments:
– In February 2019, Uber has signed an exclusive collaboration contract with Landi Renzo Brasil, for the conversion of cars owned by Uber partners all over Brazil from gasoline to natural gas with the fuel solutions offered by Landi Renzo.
– In March 2019, the Municipal Government of Juarez, a city in Mexico, has leased 400 new patrol units for the Public Security Secretariat (SSPM) fleet, eighty (20%) of which have been or are in the process of being converted to CNG.
Scope of the Report
– The market is primarily driven by the factors such as with the use of CNG and LPG fuel vehicles the carbon emission in the environment can be controlled as compared to conventional fuels like Diesel and Petrol, the promotion of CNG and LPG vehicles by the governments in the region by providing financial aids for the conversion of conventional fuel vehicles to auto gas vehicles, also the increase in spending for infrastructure like auto gas stations is attracting demand for CNG and LPG vehicles in the region.
– However, the rise of flexi fuel cars, like ethanol fuel-based vehicle in the region is affecting the growth of CNG and LPV fuel-based vehicles in the South American region. For instance, in 2019 Brazil’s consumption of ethanol reached 32.8 billion liters (8.6 billion gallons), a 10.5% year-on-year increase
Key Market Trends
Low Fuel Cost Driving Growth
The low fuel cost of Liquified Petroleum Gas and Compressed Natural Gas which reduces the per kilometer driving cost of the vehicles is encouraging more vehicle users especially taxi fleet operators to convert their conventional fuel vehicles to auto gas-based vehicles. For instance, in the first three weeks of November 2018, the price of a cubic meter of CNG is on average 35pc cheaper than a liter of gasoline.
NGV is up to 50% cheaper compared to gasoline or diesel, so the direct savings for consumers is significant and immediate and is attracting more demand. In addition, it is the cleanest of all fossil fuels, because, during its combustion, no polluting particles are emitted to the environment, which benefits the health of people around the world.
Bolivia Dominates the Market in South America Region
In the South American region, Bolivia dominates the market over other countries. The conversion rate of old conventional fuel-based vehicles in the country is rising because of the low operational cost and the rich natural gas reserve in the country.
The country is the largest exporter of the natural gas in the region also. In July 2018, the use of this hydrocarbon represents a cost saving for the user since one cubic meter (m3) of CNG has a cost of Bs 1.66 (USD 24 cents), which is approximately equivalent to 1.13 liters of gasoline that has a cost of Bs 4.22 (USD 61 cents).
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: South America CNG and LPG Vehicle Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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