company news about Looking at the future trends of the global CNG and LPG automobile market

CNG is an abbreviation of “Compressed Natural Gas” whereas LPG is an abbreviation of “Liquefied Petroleum Gas”. The primary difference between CNG and LPG lies in the components that make up these fuels. While 

CNG is primarily made up of Methane, LPG is primarily made up of propane.

According to a research report released by Spherical Insights & Consulting, the global CNG and LPG automobile market size will be $5.4 billion in 2023, and it is expected that the global CNG and LPG automobile market size will reach $8.44 billion by 2033. The compound annual growth rate (CAGR) is expected to be 4.57% during the period.
CNG and LPG vehicles are in high demand across the globe due to their low cost and high efficiency compared to conventional fuels such as petrol and diesel. These cars are attractive because they offer dual-fuel options that reduce running expenses and eliminate range issues.
At present, governments around the world have been vigorously promoting the importance of adopting green vehicles to reduce the impact of transportation on the environment. This shows that the future trend of the global CNG and LPG automobile market is still very impressive.

Source 1: https://byjus.com/chemistry/difference-between-cng-and-lpg/

Source 2: https://finance.yahoo.com/news/global-cng-lpg-vehicle-market-210000716.html