In the past decade, increased hydraulic fracturing extraction and improvements in infrastructure and technology have increased the supply and decreased the cost of natural gas. The market for NGVs hit an obstacle due to global gas prices, but is still expected to grow gradually through 2025. Click to tweet:According to a recent report from @NavigantRSRCH, nearly 40 million light duty NGVs are expected to be on roads in 2025.
“Various regional factors such as availability of refueling infrastructure, tailpipe emissions requirements, and the cost of natural gas affect the markets for light duty NGVs,” says Sam Abuelsamid, senior research analyst with Navigant Research. “In Western Europe and Asia Pacific, NGV growth is expected to continue, just at a lower rate than previously projected.”
According to the report, increased scrutiny of real-world emissions and fuel consumption from internal combustion engine (ICE) vehicles, including NGVs, will put additional pressure on manufacturers. These factors, in addition to low gas prices and minimal infrastructure, are expected to result in more modest NGV growth than previously forecast.
The report, Natural Gas Vehicles, examines the global market for NGVs, with a focus on passenger cars, light duty trucks and vans, medium/heavy duty trucks and buses, and commercial vehicles. The study provides an analysis of the key factors expected to influence demand for NGVs, including fuel prices, infrastructure availability, regulations, and technical issues. Global market forecasts, broken down by vehicle segment, alternative drivetrain, and region, extend through 2025. The study also analyzes how market and technology issues will affect automobile and truck manufacturers; suppliers of natural gas (NG) engines, fuel storage, and delivery hardware; and the companies that convert liquid-fueled vehicles to NG. An Executive Summary of the report is available for free download on theNavigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
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