Global market for natural gas buses expected to grow 20% in seven years

Pike Research expects number of natural gas trucks worldwide to increase at a compound annual growth rate (CAGR) of 14% between 2012 and 2019, while natural buses are estimated to rise at a CAGR of 19% during the same period. This expansion is being fueled by economic growth following the global slowdown of the last few years, increased vehicle availability, environmental benefits, and the desire for increased energy security.

Due to government investment and existing infrastructure, Asia Pacific is the strongest region for the heavy-duty segment. About three-quarters of the total natural gas trucks and buses are being sold in this region, a level that is not anticipated to change over the next several years. Europe and North America are also projected to see strong growth due to the high costs of diesel fuel and increasingly strict government emissions restrictions.

The report also provides a comprehensive assessment of fuel availability, demand drivers, policy factors, and technology issues associated with the growth of these vehicles. Key industry players are profiled in depth, and worldwide NGV sales, vehicle segment sales and cumulative refueling station availability are forecasted through 2019.

Source: Pike Research