NEW YORK, Aug. 20, 2015 /PRNewswire/ -- Increasingly stringent fuel economy and tailpipe emissions standards in every major market around the world provide an impetus for vehicle manufacturers to provide alternatives to traditional gasoline- and diesel-fueled internal combustion engines. For many applications, particularly high-mileage fleet operators and consumers in regions with high retail prices for liquid fuels, natural gas (NG) can provide an excellent option for reducing both operating costs and CO2 emissions.
However, a number of factors could hinder the near-term growth prospects for natural gas vehicles (NGVs) in several regions. For instance, political tensions in Eastern Europe could affect the supply and prices of gas exports from Russia to Western Europe. Still, demand for NGVs is expected to continue growing worldwide, particularly in developing markets where air pollution has already become a serious issue. NG extraction is now at record levels, and production from non-traditional sources, including hydraulic fracturing of shale gas, is expected to continue increasing through the remainder of this decade. According to Navigant Research, global annual NGV sales are expected to grow from 2.5 million vehicles in 2014 to 4.3 million in 2024.
This Navigant Research report examines the global market for NGVs, with a focus on passenger cars, light duty trucks, medium/heavy duty trucks and buses, and commercial vehicles. The study provides an analysis of the key factors expected to influence demand for NGVs, including economic growth, fuel prices, infrastructure availability, acquisition costs, regulations, and technical issues. Global market forecasts for vehicle sales, vehicles on the road, refueling stations, NG consumption, and CNG cylinders, broken down by vehicle segment and region, extend through 2024. The study also analyzes how the market and technology issues will affect automobile and truck manufacturers, suppliers of NG engines, fuel storage, and delivery hardware, and the companies that convert liquid-fueled vehicles to NG.
Key Questions Addressed:
How big is the market for natural gas vehicles (NGVs) both globally and regionally?
Which vehicle segments have the greatest potential for demand growth?
What are the key forces driving demand for NGVs?
What are the pros and cons of NGVs in different segments and regions?
Which companies are most likely to push the NGV market forward and why?
Who needs this report?
Automobile, truck, and bus OEMs
Natural gas vehicle (NGV) component and system suppliers
Tier One and aftermarket NGV conversion companies
Compressed and liquefied natural gas distributors and infrastructure providers
Read the full report: http://www.reportlinker.com/p02788934-summary/view-report.html
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