Sales of commercial NGV will reach 3.4 M units in 2024, according to a new study on ASDReports
The analysis of the new report now available on ASDReports, indicates that the global Commercial Natural Gas Vehicle (NGV) Sales will reach 1.1 million in 2014. The new report assesses that the market for Commercial NGV has huge potential since the usage of CNG and LNG as fuel in Commercial Vehicles enable fleet owners to achieve greater fuel savings, recoup the upfront purchase cost faster, and comply with the stricter CO2 emission requirements.
The author of the Commercial Natural Gas Vehicles (C-NGV) Market 2014-2024: Prospects for Top Companies with LNG & CNG Trucks, Vans, Buses & Coaches report commented that “In 2013-14, the market for Commercial NGV Is still in its infancy despite the increment of their population especially during 2009 to 2013. The C-NGV market is currently characterised by a high level of concentration in a small number of countries, low penetration in the major automotive markets and limited supply of NGV models. The latter is mainly due to the significant upfront purchase cost in comparison with ‘’standard-fuelled’’ vehicles and due to the relatively high cost of conversion.
However, the market represents high potential and it is expected to record significant growth in the second period of the forecast as investment in new CNG and LNG stations will help overcome the lack of a sufficient fuelling infrastructure and capitalise on the beneficial NG-to-gasoline price ratio. Additionally, the increased NGV model supply by OEMs will enable both reduction in the conversion cost and enhanced NGV ownership especially in the Heavy-Duty Truck segment.
The 126 page report contains:
156 tables, charts and graphs that add visual analysis in order to explain developing trends, drivers and restraints within the Commercial NGV Market.
- A comprehensive overview of the current status of the Commercial NGV market as well as the total NGV market with a focus on leading countries and infrastructure
- Analysis of the penetration of Natural Gas in the Automotive sector throughout 1971-2013 and forecast for the period 2014-2024 in the Commercial NGV Market
- Analysis of the macro, regulatory, consumer and OEM-based drivers of the Commercial NGV Market and the opportunities they create
- Analysis of the restraints of the adoption of Natural Gas as fuel and how the Commercial Vehicle segment will help change the market
- Global Commercial NGV Sales & Population Forecast for the period 2014-2024
- Global NGV Sales & Population Forecast for the period 2014-2024
- Total Vehicle (Passenger Car and Commercial Vehicles) Sales Forecast for the period 2014-2024
- Global sales forecasts of 3 Commercial NGV Submarkets covering the period 2014 to 2024 and allocation of individual market shares for the period
The global Commercial NGV Market is segmented into 3 submarkets:
- By type of Natural Gas: into CNG and LNG
- By type of Commercial Vehicle: NGV Trucks, Vans, and Buses & Coaches
- By type of Natural Gas equipment installation: EOM or Aftermarket Fitment
- Analysis of the regulations which are expected to become mandatory during the forecast period and how will affect the NGV market as a whole
- SWOT analysis of each of the 3 Commercial NGV Submarkets
- Analysis of the role and product offerings of the 6 leading players in the Commercial Natural Gas Vehicles space
The Commercial Natural Gas Vehicles (C-NGV) Market 2014-2024: Prospects for Top Companies with LNG & CNG Trucks, Vans, Buses & Coaches report will be of value to current and future potential investors into the automotive industry, as well as companies and research centres who wish to broaden their knowledge of the NGV Market.