NEW YORK, Aug. 12, 2015 /PRNewswire/ -- In recent years, Liquefied Natural Gas (LNG) has emerged as an environment-friendly clean fuel for use in automotive industry across major global economies. Vehicle owners across major global markets are gradually moving towards LNG fueled vehicles. Major factors that are driving the adoption of LNG as a fuel in automobiles include significantly lower carbon emissions and cost-effectiveness of LNG compared to conventional fuels. Consequently, an increasing number of countries are emphasizing on the adoption of LNG as a fuel as it would lower their dependence on crude oil. Owing to these factors, various government initiatives have been introduced in developed economies to steer the market towards LNG powered vehicles. However, most of the countries still lack proper LNG infrastructure, which is posing a huge market challenge. Presently, the number of active refueling stations and related infrastructure is very limited across the globe.
According to "Global Vehicle Grade LNG Market Forecast & Opportunities, 2020", global market for vehicle grade LNG is projected to witness double digit growth of around 25% through 2020. North America and Asia-Pacific have emerged as the major growth areas on account of significant adoption of LNG fueled automobiles, specifically in the United States and China. Europe, on the other hand, is still a nascent market for LNG fueled vehicles. The global vehicle grade LNG market is at an embryonic stage of development (excluding China and the US) and it would take some time for LNG to become a widely used transportation fuel worldwide. "Global Vehicle Grade LNG Market Forecast & Opportunities, 2020" discusses the following aspects of vehicle grade LNG market across the globe:
- Global Vehicle Grade LNG Market Size, Share& Forecast
- Regional Market Analysis (North America, Asia-Pacific, Australia & Europe)
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of vehicle grade LNG market across the globe
- To identify the on-going trends and anticipated growth in the next five years
- To help industry consultants and LNG powered vehicle manufacturers align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based upon both primary and secondary research. Primary research included interviews with automotive companies, LNG suppliers and LNG refilling station companies. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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