According to a recent report from Navigant Research, worldwide sales of these vehicles will grow from 2.5 million annually in 2014 to 4.2 million in less than 10 years. By that time, nearly 40 million light-duty NGVs will be on roads worldwide. During the last few years, a number of major automakers have refocused their efforts in the NGV market, and expansion in this category is expected to be strong across all regions in the coming years.
“Growth in the market for natural gas vehicles is being driven by increasing supplies of low-cost, readily available natural gas, along with expanding refueling infrastructure and increasingly strict vehicle emission requirements,” said John Gartner, research director with Navigant Research.
Like all internal combustion engine vehicles, NGVs are undergoing technical change. In particular, the introduction of direct injection promises to increase fuel economy and reduce emissions, according to the report.
Earlier this year, Navigant Research said the growth of the light-duty vehicle market is occurring in some countries, such as India, China, Thailand, and Brazil, where a robust market for NGVs already exists, but also in others where NGVs are a relatively small niche, such as the United States and Germany.
Source: Navigant Research