Total Sales of Natural Gas Vehicles Are Expected to Exceed 35 Million from 2015 to 2025, According to Navigant Research
The majority of natural gas vehicles will run on compressed
natural gas, report finds
A recent report from Navigant
Research analyzes the market for natural gas (NG) refueling
infrastructure and the factors expected to influence its deployment,
including global market forecasts segmented by fuel type, station type,
and region, through 2025.
NG is an attractive alternative to diesel for medium and heavy duty
vehicles in meeting regulatory standards and an appealing option for
reducing operating costs and carbon emissions in many automotive
applications. However, NG can only be used where refueling
infrastructure is widely available, and the current density of refueling
options are tied mostly to government incentive programs. Click
to tweet: According to a recent report from Navigant Research, total
sales of NG vehicles (NGVs) are expected to reach more than 35 million
from 2015 to 2025.
“For NG to reach its full potential as a transport fuel, easy access to
refueling stations and a large population of NGVs are required,” says
Sam Abuelsamid, senior research analyst with Navigant Research. “Without
a critical mass of vehicles in need of NG fuel, station operators are
unwilling to invest in equipment—and without easy access to stations,
retail customers won’t commit to purchasing NGVs.”
The majority of NG vehicles use compressed NG (CNG) as opposed to the
liquid form of the fuel, according to the report. Despite its lower
energy density compared to liquid NG (LNG), CNG is generally considered
the superior option for NGVs that are operating within a limited range
where extended driving range is not required; LNG also requires extra
processing procedures, driving up the overall price of the fuel.
The report, Natural
Gas Refueling Infrastructure, examines the key factors expected
to influence the deployment of NGV refueling infrastructure, including
economic growth, fuel prices, NGV sales, equipment costs, and
regulations. The study provides an analysis of how all of these factors
are projected to affect station operators, equipment suppliers, and gas
suppliers. Global market forecasts, segmented by fuel (CNG and LNG),
type of station (public vs. private), and region, extend through 2025.
The report also examines the significant technical issues related to NGV
refueling infrastructure, as well as the competitive landscape. An
Executive Summary of the report is available for free download on the Navigant
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.
About Navigant
Navigant Consulting, Inc. is an independent specialized, global
professional services firm that combines deep industry knowledge with
technical expertise to enable companies to defend, protect and create
value. With a focus on industries and clients facing transformational
change and significant regulatory and legal issues, the Firm serves
clients primarily in the healthcare, energy and financial services
sectors which represent highly complex market and regulatory
environments. Professional service offerings include strategic,
financial, operational, technology, risk management, compliance,
investigative solutions, dispute resolutions services and business
process management services. The Firm provides services to companies,
legal counsel and governmental agencies. The business is organized in
four reporting segments – Disputes, Investigations & Economics;
Financial, Risk & Compliance; Healthcare; and Energy. More information
about Navigant can be found at navigant.com.
* The information contained in this press release concerning the
report, Natural Gas Refueling Infrastructure, is a summary and
reflects Navigant Research’s current expectations based on market data
and trend analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those contained
in this press release or the report. Please refer to the full report for
a complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.
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