Alternatively Powered Commercial Vehicles: Global Fuel Markets
The global market for alternative fuel for all classes of commercial vehicles with oil prices at $40 per barrel should grow from $11.1 billion in 2021 to $19.4 billion by 2026 with a compound annual growth rate (CAGR) of 11.8% for the period of 2021-2026.
- 137 data tables and 27 additional tables
- An up-to-date market analysis of the global market for alternative fuel powered commercial vehicles and their variants
- Analyses of the global market trends, with data from 2020, estimates for 2021 and projections of compound annual growth rates (CAGRs) through 2026
- Estimation of current market size and market forecast for alternative powered commercial vehicles, and corresponding market share analysis by type of vehicle, power source, and geographic region
- Evaluation of the breakeven oil price points for each fuel for each region at which they produce a favorable payback for commercial vehicles
- Highlights of the current and future commercial vehicle demand for each alternative fuel, each category of commercial vehicle and each global region from 2020 through 2026
- In-depth information (facts and figures) concerning market drivers, restraints and other forces affecting the progress of this market
- Identification of the key stakeholders in the market, including on-board alternative fuel components and system suppliers, engine original equipment manufacturers (OEMs), commercial vehicle OEMs, stationary alternative fuel support equipment suppliers, methanol producers, biofuel producers, public natural gas utility companies, storage and transportation companies, refining and marketing companies, exploration and production companies, integrated oil and gas companies, and oil and gas services companies
- Descriptive company profiles of the leading industry players, including AB Volvo, Autocar Truck, Nissan Diesel, Mercedes Benz, Mitsubishi Fuso, Volvo Trucks Petronas Chemicals Group Berhad and Schlumberger
This report focuses on 10 major alternative fuels for commercial vehicles across North America; Latin America; Europe, the Middle East and Africa (EMEA); and the Asia-Pacific region:
- Compressed natural gas (CNG).
- Liquid natural gas (LNG).
- Liquid petroleum gas (LPG), also known as Autogas.
- Dimethyl ether (DME).
- Renewable natural gas (Bio Methane).
We have excluded the following fuel type categories because these fuels have a unique value in the global marketplace:
- Electric (battery) vehicles.
- Hybrid-electric battery and generator/internal combustion vehicles.
- Fuel-cell powered electric vehicles.
We have also covered information for industry leaders as well as for follower in the company profile chapter, key developments, and competition landscape, and others. The impact of COVID-19 is also covered in the scope of this report.
All market values are in U.S. dollar ($) millions and all are calculated as nominal value; 2020 is considered as the base year and 2021 as the projected year, with values forecasted from 2022 to 2026. The market values are forecasted based on projected growth in various industries.
This updated report includes the impact of COVID-19 on the consumption of alternative fuels for commercial vehicles. Although there is lack of data pertaining to consumption of alternative fuels for commercial vehicles in 2020, the passenger car segment was the hard hit compared to commercial vehicles. Furthermore, the prices of conventional fuels went high during the pandemic period, which indirectly pushed the sales of alternatively powered vehicles as well as consumption of alternative fuels.
BCC Publishing Staff comprises expert analysts who are skilled in conducting primary research, secondary research and data analysis and have decades of combined experience covering a wide range of industries, including healthcare, advanced materials and emerging technologies. Collectively, the team represents a diverse set of educational achievements with individual graduate work completed in fields such as microbiology, electrical engineering, business administration and surgery, among others.
The global market for alternative powered commercial vehicles totaled $8.1 billion in 2014 and $5.7 billion in 2015. The market should total $13.2 billion by 2020, in the base case of $80-per-barrel oil, demonstrating a compound annual growth rate (CAGR) of 18.4% from 2015 to 2020.
- An overview of the global markets for alternatively powered commercial vehicles.
- Analyses of global market trends, with data from 2014, 2015, and projections of compound annual growth rates (CAGRs) through 2020.
- Multiple scenarios of the future environment for the cost of fuel, the cost of the incremental equipment, and the savings generated by the incremental equipment utilizing the alternative fuels.
- A regional breakdown of the market into North America, Latin America, EMEA, and Asia-Pacific.
- Further breakdowns within the above regions into heavy duty, medium duty, and light duty commercial vehicles.
- Coverage of ten alternative fuel types including Compressed natural gas (CNG), Liquid natural gas (LNG), Liquid petroleum gas (LPG), also known as Autogas, Dimethyl ether (DME), Renewable natural gas (Bio Methane), Biodiesel, Ethanol, Methanol, Hydrogen, and Hythane.
- Profiles of key players and suppliers.