26 Sep '11, 4pm

Pike Research predicts 68% jump in global CNG vehicle sales by 2016

Commercial Fleets Will Power Natural Gas Vehicle Market through 2016 September 14, 2011 There are currently about 12.6 million natural gas vehicles (NGVs) in use worldwide, and sales of NGVs vary widely from region to region and country to country. The majority of NGVs are located in Latin America, the Middle East, and Africa, particularly in countries like Pakistan and Iran that lack extensive gasoline refining capacity. In North America, due largely to a lack of convenient refueling stations, demand for NGVs is largely relegated to the fleet market. Worldwide sales of natural gas vehicles are expected to grow rapidly over the next five years, to 3.2 million units annually by 2016 from 1.9 million in 2010, according to a recent report from Pike Research. The consumer market will continue to lag growth in commercial fleets, however: three-quarters of the new growth between...

Full article: http://green.autoblog.com/2011/09/26/pike-research-predic...

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