French government’s support to Autogas helps boost national LPG market
From $7,691.2 million in 2020, the French liquefied petroleum gas market revenue is set to witness a 2.1% CAGR between 2020 and 2030, to reach $9,480.3 million by 2030. The rising awareness on the lower greenhouse gas (GHG) emissions from LPG compared to gasoline and diesel is a key trend in the industry.
One of the drivers that is propelling the market forward is the French government’s support for cleaner vehicles, especially those powered by Autogas either solely or in conjunction with an electric motor (LPG–electric hybrid).
The French regulation on incentives on the purchase and operation of environmentally-friendly vehicles was modified to include Autogas–electric hybrids in the bonus specified for hybrid electric vehicles. The bonus aims to motivate owners, renters, and automotive professionals to purchase or lease greener vehicles.
Under the new scheme, vehicles with less than 60g CO2/km (less than 90g CO2/km during a transitional phase) emissions are eligible for financial support. Thereby, the increased government incentives is leading to a significant of the France LPG market. For more information, please visit this link.
8 December 2021