Possible Growth In Natural Gas Vehicles

Natural gas vehicles (NGV) have been available for some time, but even with significant improvements in technology it is still not widely accepted as a transportation fuel in many parts of the world. However, according to a new report from Pike Research, the NGV sector is poised for a new period of growth. Pike's report forecasts that the number of NGVs on the road will grow to 17 million vehicles worldwide by 2015, up from 9.7 million in 2008. According to the California Natural Gas Vehicle Coalition, light-duty NGVs emit up to 90 percent less Nitrogen oxide and 98 percent less hydrocarbon than gasoline-powered cars.

In many countries the lack of refueling station infrastructure has stifled NGV demand. In regions where NGVs have been widely accepted, this has been due a combination of inexpensive natural gas, government subsidies and a large number of existing refueling stations. Currently the top five markets for NGV's are Pakistan, Argentina, Brazil, Iran, and India. Over the next five years, Pike's research forecasts that Canada, India, and the United States will be the fastest growing markets.

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