Worldwide sales of light-duty natural gas vehicles (NGVs) will grow from 2.5 million annually in 2014 to 4.2 million in 2023, says a new report from Navigant Research.
In some countries, such as India, China, Thailand, and Brazil, a robust market for natural gas vehicles (NGVs) already exists. In others, such as the United States and Germany, NGVs are a relatively small niche.
The research says that during the last few years, however, a number of major automakers have refocused their efforts in the NGV market, and growth 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,” says John Gartner, research director with Navigant Research.
“As a result, the total number of NGVs on roads worldwide will reach nearly 40 million in the next 10 years.”
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.
Worldwide sales of light-duty NGVs to grow to 4.2M in 2023: Navigant
Worldwide sales of light-duty natural gas vehicles (NGVs) will grow from 2.5 million annually in 2014 to 4.2 million in 2023, says a new report from Navigant Research.
In some countries, such as India, China, Thailand, and Brazil, a robust market for natural gas vehicles (NGVs) already exists. In others, such as the United States and Germany, NGVs are a relatively small niche.
The research says that during the last few years, however, a number of major automakers have refocused their efforts in the NGV market, and growth 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,” says John Gartner, research director with Navigant Research.
“As a result, the total number of NGVs on roads worldwide will reach nearly 40 million in the next 10 years.”
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.