Technavio has announced the top five leading vendors in their recent global light- and heavy-duty natural gas vehicle (NGV) market report until 2021. This research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
Reducing automotive emissions and fuel consumption are the main objectives behind setting tougher emission norms. Such regulations will lead to the increased adoption of NGVs, especially in the light commercial vehicle (LCV) and heavy commercial vehicle (HCV) segments. Since nitrogen oxide (NOx) emissions are higher in diesel engines, it calls for mandatory installation of urea filters to reduce NOx emissions, which will further boost the sales of natural gas vehicles.
Competitive Vendor Landscape
The global light- and heavy-duty natural gas vehicle market is dominated by key players like Daimler Trucks, General Motors, CNH Industries, Volvo Trucks and MAN Truck and Bus. These vendors constantly face a threat from the new entrants in the market space. The vendors are under additional pressure to appease the customers as they can always opt for aftermarket installations. But, since the market is still at a nascent stage, there is a large potential for growth. The vendors are strategically capitalizing on this potential by carrying out innovative marketing strategies.
Top Five Vendors in the Global Light- and Heavy-Duty Natural Gas Vehicle Market
CNH Industrial
CNH Industrial is a capital goods manufacturing company. Its product portfolio includes agricultural equipment, construction equipment, commercial vehicles and powertrains. The brands under CNH Industrial include STEYR, CASE, NEW HOLLAND, IVECO, IVECO ASTRA, IVECO BUS, MAGIRUS, IVECO Defence Vehicles, HEULIEZ Bus, and FPT. IVECO, IVECO BUS and HEULIEZ Bus are the brands that manufacture commercial vehicles.
Daimler Trucks
Daimler Trucks develops and manufactures trucks under the brand names Mercedes-Benz, Western Star, Thomas Built Buses, Freightliner, BharatBenz and FUSO. The brand Mercedes-Benz provides customized solutions for the medium- and heavy-duty truck segment. While Freightliner is the best-selling heavy-duty truck brand in North America, Thomas Built Buses is one of the leading school bus manufacturers.
General Motors
General Motors (GM) undertakes the designing, manufacturing and marketing of cars, trucks, crossovers and automobile parts worldwide. The company also provides automotive financing services through its subsidiary, GM Financial. The company operates mainly through the GM Automotive segment and the GM Financial segment.
MAN Truck & Bus
MAN Truck & Bus is one of the leading manufacturers of commercial vehicles and mechanical engineering equipment in Europe. Its product and service offerings include trucks, buses, engines and components, marine engines and systems, power plants, compressors, gas turbines, turbomachinery, reactors and apparatus and turbochargers.
Volvo Trucks
Volvo Trucks is engaged in the production and commercialization of heavy-duty trucks. The company provides a wide range of heavy-duty trucks, tractors, engines and accessories. Ninety-five percent of its trucks come under the heavy weight class of over 16 tons. Also, it operates through an extensive network of 2,300 dealers and workshops in EMEA, North America, Asia, South America and Australia.
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