3.7 million natural gas trucks and buses by 2022

New drilling and pipeline techniques have made natural gas a significantly more competitive vehicle fuel than it was a decade ago, as truck and bus fleet operators continue to look for alternative fuels to fulfil their needs at lower costs and with lower emissions. The result has been an expansion of the market for medium and heavy duty trucks and buses that run on natural gas. A recent report from Navigant Research has forecast that by 2022, the number of natural gas trucks and buses on roads around the world will increase from 1.5 million in 2014 to 3.7 million.

Even though the natural gas vehicle (NGV) market is tied to the growth of the overall economy and specific industries, makers of NG trucks and buses have found some niches that have proven stronger than the overall market. According to the report, the refuse truck, day cab truck and transit bus markets are going to mean big business as these are markets in which vehicles use a lot of fuel, and the payback periods on incremental vehicle costs can be relatively short.

The report

Natural Gas Trucks and Buses analyses the global market for trucks and buses that are in the medium and heavy duty gross vehicle weight classes. It provides an analysis of related market issues and drivers, including refuelling availability, competing alternative drive technology, total cost of ownership, vehicle availability and government influence.

Comments

Dave Hurst, principal research analyst, Navigant Research said, ‘natural gas vehicle sales are largely being driven by four key forces. These include the economic benefits, the increased availability of vehicles, the environmental benefits and the growth of refuelling infrastructure.’

Adapted from press release by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/21042014/3million_ngv_by_2022_report/