Total Sales of Natural Gas Vehicles Are Expected to Exceed 35 Million from 2015 to 2025, According to Navigant Research
By Business Wire News
By Business Wire News
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.
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.