Automotive Natural Gas Vehicle Market worth 418,889 Units by 2019 – Report by MarketsandMarkets
(PRWEB) December 03, 2014 -- The report “Automotive Natural Gas Vehicle Market Analysis for Commercial Vehicles (by Fuel Type Vehicle Type & Geography) - Industry Trends & Forecast to 2019”, defines the global market for a detailed trends analysis and volume forecasts.
Browse 80 market data tables and 66 figures spread through 149 pages and an in-depth TOC on "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"
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Asia-Oceania: Potentially growing market for CNG and LNG commercial vehicles
Asia-Oceania includes both developing countries, such as China and India and well developed countries such as South Korea. The large population, increased industrialization activities, and the recent infrastructure developments are the main factors driving the demand for trucks and buses in this region. According to the report, a significant portion of this demand is met by the 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 as well as the global industry. According to the report, 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. The report expects other factors such as government subsidies, policies, fuel price, availability of resources, and environmental benefits to act as the drivers for this growth.
Americas: Developing fueling infrastructure is the main growth driver
In Americas, Colombia and U.S. are the main markets for the CNG powered trucks and buses which are growing along with the number of refueling stations. As per the report, fleet owners and governments are facing challenges 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 the developed countries are expected to be 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 expected to witness high growth due to the low costs and environmental benefits. Also, according to the report, growing LNG fuelling infrastructure and network is expected to help the LNG operated commercial vehicles to have a significant share in the global market during near future.
The report covers the CNG and LNG commercial vehicles market in terms of volume across the regions, such as Asia-Oceania, Europe, Americas, and the Rest of the World (RoW). It briefly explains the natural gas commercial vehicles market on the basis of geography, vehicle types and fuel types, during the timeframe ranging 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 along with the competitive landscapes and company profiles.
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