A recent report from Navigant Research has found that nearly 40 million light-duty natural gas vehicles (NGVs) are expected to be on roads in 2025.
Navigant’s report analyzes the market for NGVs, including global forecasts, broken down by vehicle segment, alternative drivetrain and region through 2025.
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. Per report findings, the market for NGVs hit an obstacle due to global gas prices, but it is still expected to grow gradually through 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 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, focuses on passenger cars, light-duty trucks and vans, medium/heavy-duty trucks and buses, and commercial vehicles. The study also analyzes how market and technology issues will affect automobile and truck manufacturers; suppliers of natural gas engines, fuel storage and delivery hardware; and the companies that convert liquid-fueled vehicles to natural gas.