31 Dec '14, 5pm

Navigant forecasts LD natural gas vehicles to account for 2.8% of global vehicle parc by 2024

Navigant forecasts LD natural gas vehicles to account for 2.8% of global vehicle parc by 2024 31 December 2014 Cumulative light-duty NGV sales by segment. Source: Navigant. Click to enlarge. In a new report , Navigant Research forecasts that light-duty natural gas vehicle (LD NGV) sales will grow 119% between 2014 and 2024, culminating in 42.1 million NGVs on the world’s roads and accounting for 2.8% of all vehicles on the roads. Overall, Navigant expects the worldwide market for LD NGVs to grow at a compound annual growth rate (CAGR) of 5.6% between 2014 and 2024, with the number of passenger car sales growing at a slightly slower rate (5.3% CAGR) than light trucks (5.6% CAGR). Asia Pacific will remain the largest market, with more than 2.0 million LD NGVs sales in 2024. In North America, the high upfront cost, limited fueling infrastructure, reduced utility, and increase...

Full article: http://www.greencarcongress.com/2014/12/20141231-navigant...

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