Almost one million NGVs will be sold in the worldwide medium and heavy-duty market

“Natural gas vehicles emit substantially lower levels of GHGs, particulate matter, and nitrogen oxide than either gasoline or diesel-powered trucks and buses,” said senior research analyst Dave Hurst. “What’s more, compared to diesel engines, natural gas provides a financial benefit. In most cases, the higher incremental cost of an NGV is typically recovered, due to lower fuel costs, within two to seven years.”

The recent report released by <i>Pike Researc</i> also states that the worldwide breakdown of refueling stations for both compressed and liquefied natural gas is 117 LNG stations versus 20,233 CNG stations. About 45 percent of the LNG sites are located in the United States, even though China has the largest annual sales for LNG-powered trucks, with 3,020 vehicle sales in 2012.

This document is included in the “Natural Gas Trucks and Buses” report, which analyzes the global market opportunity for NGVs in the medium and heavy duty markets. It also expects the global industry for trucks to grow at a compound annual growth rate (CAGR) of 14% between 2012 and 2019, while buses are expected to grow at a CAGR of 19% during the same period.

Source: Pike Research