17M Natural Gas Vehicles Worldwide by 2015?

20 October, 2009 02:24:00

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The number of natural gas vehicles (NGVs) on the road worldwide will grow to 17 million vehicles by 2015, up from 9.7 million in 2008, according to a cleantech research firm Pike Research.

Pike Research forecasts that in 2015, NGV sales will surpass 3 million vehicles for the first time.

Pike Research anticipates growing acceptance of NGVs as governments approve climate change treaties and energy security legislation. These factors will contribute to NGV sales growth of 5.5% annually by 2015, though some regions will see growth stunted by greater political support for other transportation alternatives such as electric vehicles, clean diesels, and biofuels.

Natural Gas Vehicle technology is widely available and has been available for purchase in most regions of the world for decades. Governments, fleet managers, and private consumers are recognizing the environmental benefits of lower emissions from NGVs.

However, lack of refueling infrastructure has caused NGV demand to stagnate in many countries. In regions where NGVs have strong market performance, adoption is largely due to a combination of inexpensive natural gas, a large number of existing refueling stations, and government subsidies of vehicles, fuel, and infrastructure.

This Pike Research report provides an overview of the opportunities and challenges to NGV light-duty cars, trucks, and medium/heavy duty trucks. The report includes a comprehensive assessment of compressed and liquefied natural gas (CNG/LNG) vehicle technologies, including tanks and engine modifications. It also examines key drivers of market growth by fleet customers as well as private consumers. Detailed forecasts are provided for the global vehicle market, global NGV fleet and private consumer sales, NGV refueling stations, and NGV sales by vehicle segments. Key market players are also profiled.

[source: Pike Research]

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