Africa CNG and LPG Vehicle Market Share, Trends, Growth Drivers, Revenue, CAGR Status, Business Challenges, Opportunities and Forecast Analysis till 2033: SPER Market Research

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Vehicles operating on CNG depends on CNG for their propulsion and they produce energy by ignition of methane with oxygen, releasing carbon dioxide along with water vapour. Natural gas is stored in the CNG tank and this gas is supplied to the engine through a CNG kit. This kit transfers the gas from the fuel- tank through the fuel lines, where the pressure regulator reduces pressure to a level making it fit with the engine fuel injection system. The driver of such vehicles gets the advantage to switch between petrol or diesel and CNG mode. On the other hand, vehicles operating on LPG relies on LPG, mixture of various hydrocarbon gas. Here the LPG gas is stored in pressurized fuel tank in the form of liquid which is located under the boot floor. 

According to SPER Market Research, ‘Africa CNG and LPG Vehicle Market Size- By Trends, By Revenue, By Scope, By Growth Drivers, By Share, Challenges, Opportunities and Future Strategies till 2033’ states that the Africa CNG and LPG Vehicle Market is estimated to reach USD 2.85 billion by 2033 with a CAGR of 7.01%. 

Due to an increase in the awareness among the consumers about the harmful effects of air pollution, there is an increase in the demand for the low- emission vehicles which supports the growth of the market. Furthermore, many governing countries are promoting the use of CNG and LPG vehicles via tax rebates and subsidies. The government is also focusing on the infrastructure of the CNG and LPG, which is boosting the growth of the market. The market is further fuelled by an increasing demand for the original equipment manufacturer fitted vehicles, due to their various benefits.   

The CNG and LPG consuming vehicle market faces several challenges. Consumers are doubtful from purchasing of alternative fuel vehicles due to concerns like finite refuelling infrastructure and the initial higher costs compared to diesel and gasoline vehicles.  Significant investment and effort are required to create awareness among the consumers related to the long- term savings and motivating more gas station owners to offer CNG and LPG pumps. Stricter standards for emission worldwide drive the cost up for compliance and manufacturers.

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Impact of COVID-19 on Africa CNG and LPG Vehicle Market

The COVID-19 pandemic has negatively impacted the several industries worldwide. Due to lockdown and closure of production facilities, the automotive industry got severely impacted as a whole since this led to a decrease in the sales and production of CNG and LPG vehicles. The pandemic also led to the shift of government priorities towards more pressing social and economic issues. Even after the manufacturing was resumed, the operating capacity was considerably low. The unexpected rebound in demand further created a shortage of raw materials and equipment. 

Africa CNG and LPG Vehicle Market Key Players:

Egypt accounts for the largest market share in terms of Africa CNG and LPG Market. The region was dominant due to the extensive natural gas consumption by the country. Some of the major players in the Africa CNG and LPG Market are African Gas Equipment, BRC Gas Equipments, Cummins Inc., EMER, ExoGas, Others. 

Africa CNG and LPG Vehicle Market Key Segments Covered

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.

By Fuel Type: Based on the Fuel Type, Africa CNG and LPG Vehicle Market is segmented as; Compressed Natural Gas, Liquified Petroleum Gas.

By Vehicle Type: Based on the Vehicle Type, Africa CNG and LPG Vehicle Market is segmented as; Commercial Vehicles, Passenger Cars.

By Sales Channel: Based on the Sales Channel, Africa CNG and LPG Vehicle Market is segmented as; Aftermarket, OEM.

By Region: This research also includes data for Egypt, Ethiopia, Morocco, Nigeria, South Africa, Rest of the Africa.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

For More Information, refer to below link:-

Africa CNG and LPG Vehicle Market Revenue

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