Automotive Natural Gas Vehicle Market worth 418,889 Units by 2019, According to a New Study on ASDReports

Thursday 27 November 2014, Amsterdam

The report, now available on ASDReports, “Automotive Natural Gas Vehicle Market Analysis for Commercial Vehicles by Fuel Type (CNG & LNG), by Vehicle Type (Medium Duty & Heavy Duty) & by Geography (Asia-Oceania, Europe, Americas, RoW (Rest of the World)) - Industry Trends & Forecast to 2019”, defines and segments the CNG and LNG commercial vehicle market with an analysis and forecasting of its global volume.

Asia-Oceania: Potential growing market for CNG and LNG commercial vehicles

Asia-Oceania includes developing countries, such as China and India and well developed countries such as South Korea. The large population, increase in industrialization activities, and the recent infrastructure development are the main factors driving the demand for trucks and buses. A significant portion of this demand is met by commercial vehicles running on natural gas fuels.

Europe: Market for retrofitted vehicles

The European market is dominated by retrofitted vehicles due to the adoption of natural gas in trucks and buses running in Russia and Ukraine. These countries play a major role in the overall natural gas vehicle parc in the European market as well as in the global industry. The increasing application of natural gas in trucks and buses is the reason behind the new natural gas vehicle model line-up by major OEMs operating in this region. Factors such as government subsidies, policies, fuel price, availability of resources, and environmental benefits act as the drivers for this growth.

Americas: Increasing fuelling infrastructure is the main growth driver

In Americas, Colombia and U.S. are the main markets for CNG powered trucks and buses which are growing along with the number of refueling stations. Fleet owners and governments are facing a challenge due to rising oil prices and the adverse effects of emission gases caused by diesel-powered trucks on the environment. The stringent emission norms laid down by regulatory bodies in developed countries are one of the key reasons behind the growing number of natural gas commercial vehicles. CNG is widely adopted in Colombia and U.S. and it is witnessing high growth due to cost and environmental benefits. Also, with the growing LNG fuelling infrastructure and network, LNG operated commercial vehicles will have significant share in the near future.

The report covers the CNG and LNG commercial vehicles market in terms of volume across regions, such as Asia-Oceania, Europe, Americas, and the Rest of the World (RoW). The report briefly explains the natural gas commercial vehicles market on the basis of geography, vehicle type, and fuel type, from 2014 to 2019.

The report also provides an overview of the technical as well as other important aspects of the natural gas commercial vehicle market. It includes the analysis of cost of ownership of CNG & LNG commercial vehicle and diesel commercial vehicle, competitive landscapes, and company profiles.