The Automotive Compressed Natural Gas Vehicles (NGV) Market 2013-2023

The Automotive Compressed Natural GasThe Automotive Compressed Natural Gas Vehicles (NGV) Market 2013-2023 PR Newswire LONDON, October 24, 2013 Prospects for CNG Passenger Cars The automotive compressed natural gas vehicles (NGV) market is a dynamic and capital intensive industry. Gas systems fitted as original equipment follow the global demand for new vehicles and the cyclical nature of this business. In addition, demand for gas systems closely tracks the price of alternative fuels with the key driver for most purchases being the savings over petrol or diesel. In recent years the rise of hybrid systems and the increasing choice of battery vehicles has further widened the choice of alternative energy sources for passenger cars. As this report will establish, there is considerable variation at country and regional level in the demand for natural gas vehicles and this report will explains the reasons for this. Visiongain assessed that the global sales of compressed natural gas vehicles will reach 1.5 million in 2013. Aftermarket systems have traditionally been the way cars were converted to run on compressed natural gas but as awareness of the benefits of natural gas vehicles grows more manufacturers are following companies like Fiat and Volvo and offering factory fitted options. Other manufacturers are offering CNG preparatory work at the factory and approved specialists then fit out the car.