“NGVs experienced a brief surge in popularity in the 1970s and early 1980s as a result of the 1973 oil embargo and the price shocks that followed,” says Dave Hurst, principal research analyst with Navigant Research. “Today, growth in the market is being fueled less by negative external events and more by positive industry developments, such as increased vehicle availability, a stronger focus on the largest users of fuel in new regions, and a greater openness to alternative fuel vehicles on the part of motorists and fleet operators.”
Natural gas, which exists as a gas at ambient air temperature, must be compressed or liquefied in order to increase the volume of fuel the vehicle can carry and to improve the vehicle’s range.
The report, “Market Data: Natural Gas Vehicles”, provides global market data and forecasts for passenger cars, light duty trucks, and medium and heavy duty trucks and buses. In addition to sales forecasts for vehicles and for refueling infrastructure extending through 2020, the report examines key factors influencing growth in the NGV market, including economic forces, fuel prices, and overall automobile market trends. An Executive Summary of the report is available for free download on the Navigant Research website.
Source: Navigant Research.
