The global market for light-duty natural
gas vehicles (NGVs), which produce fewer greenhouse gas
emissions than conventional gasoline engines and which run on
fuel that is cheaper than gasoline, varies significantly
depending on the region and country.
While many markets in Europe and Latin America continue to
struggle with expanding refueling infrastructure quickly enough
to meet the needs of both consumers and fleets, the adoption of
NGVs is still growing rapidly.
According to a recent report from
Pike Research, titled Light Duty Natural
Gas Vehicles, the Asia-Pacific region is rapidly
becoming the world's largest market for NGVs due to strong
growth in markets such as Thailand, India and China.
North America, however, continues to lag in this sector.
Although sales of NGVs in the region will grow at a healthy
10.2% compound annual growth rate from 20122019, the
study found, annual sales will still reach only 37,000 by
2019just over 1% of the world market, which is expected
to reach 3.2 million in annual sales in that year, the study
"Sales of NGVs will grow strongly in the next several years
in North America, but the market is starting from a very small
base of about 16,000 vehicles a year," said senior research
analyst Dave Hurst.
"The lack of widely available refueling stations, the
absence of government incentives for purchasers, and low
consumer awareness of NGVs will keep the North American market
to just a fraction of the total world market," Mr. Hurst
As in Europe and parts of Asia-Pacific, the growing
infrastructure for NGVs in North America remains focused on
servicing fleet customers. This will likely limit the growth of
NGV passenger cars both in North America and in other markets,
according to the report.
Light Duty Natural
Gas Vehicles analyzes global market opportunity
for NGVs in the passenger-car and light-duty truck markets. An
executive summary of the report is available for free download
Pike Research website.