Commercial fleets will lead worldwide NGV market growth through 2016

As a portion of the worldwide total, the percentage of commercial NGVs will rise from 59 to 65 percent in that period, according to senior analyst Dave Hurst. “Many manufacturers and industry observers are looking forward to the time when consumer NGVs become the next big thing,” said Hurst. “But the number of refuelling stations remains low in many parts.”

India is foreseen to overtake Iran for the lead in NGV sales by 2014; while by 2016 there will be about 612,000 natural gas powered vehicles in the country, according to the analysis. However, the strongest growth will occur in the United States, where a compound annual growth rate of 25.4 percent will result in nearly 33,000 units sold in 2016.

Pike Research’s report, “Natural Gas Vehicles”, provides a comprehensive examination of NGV technologies, compressed and liquefied natural gas shipping and storage, governmental incentives and regulations, and key drivers of market growth. It includes forecasts of NGVs sales, refuelling infrastructure, and natural gas usage through 2016 for light-duty vehicles and medium/heavy duty trucks and buses.