RNCOS

Ever Growing Prices of Petrol & Diesel Propel the Demand of CNG Cars

Press Release   •   May 08, 2014 12:44 IST

The ever escalating prices of petrol and diesel have resulted in a shift towards alternative fuels. While car manufacturers have backed on offering dual fuel models to increase the tumbling sales of their cars, car buyers prefer CNG cars to bring down the running cost. RNCOS latest research titled "India CNG Passenger Car Market Outlook 2018" predicts the OEM sales of CNG cars to grow at a CAGR of 31% while aftermarket CNG kits for passenger cars to grow at a CAGR of 25% during the FY 2013 to FY 2018.

Owing to international demand supply economics, the Indian fuel prices are majorly affected. The past two years have seen rampant increases in petrol and diesel prices. CNG is an eco-friendly and economical fuel for the masses due to which Government authorities incentivize and promote the usage of CNG in public transport vehicles. The private car owners and fleet operator are also encouraged to opt for CNG fuel which is clearly reflected in the growing market of OEM CNG car sales as well as aftermarket retro fitment of CNG kits in cars.

The latest RNCOS study titled “India CNG Passenger Car Market Outlook 2018”, describes the CNG car market performance in India. Current and future landscape of OEM sales of CNG cars and aftermarket fitment of CNG kits in passenger cars have been presented for key states with CNG infrastructure including Delhi-NCR, Maharashtra, Gujarat, Andhra Pradesh and Uttar Pradesh. Besides, detailed description of current and future outlook of CNG stations and pipeline network shall help strategists chalk out the right plans for expansion/entry into the potential markets. The research report presents a clear picture of the industry providing market trends, challenges, profiling of OEMs, their existing and upcoming CNG models and latest developments in the industry.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM682.htm

Check Related REPORTS on: http://www.rncos.com/Transportation.htm

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.