Global CNG Vehicle Market to Reach 19.8 Million Units By 2015
DUBLIN – One of the key factors contributing to this market growth is the cost benefits of using compressed natural gas (CNG), according to a new report from Research and Markets.
DUBLIN – The use of compressed natural gas (CNG) vehicles is expected to grow to 19.8 million units within the next four years, according to Research and Markets’ "Global Compressed Natural Gas Vehicle Market 2011-2015" report.
One of the key factors contributing to this market growth is the cost benefits of using CNG, according to the research firm. The Global Compressed Natural Gas Vehicle market has also been witnessing increasing number of bi-fuel vehicles. However, insufficient CNG fueling stations poses the biggest challenge in the market.
The firm cited key vendors dominating this market space, including Fiat S.p.A., Ford Motor Co., Suzuki Motor Corp., and Volkswagen AG. Other vendors mentioned in the report are Honda Motor Co. Ltd., Toyota Motor Corp., Bayerische Motoren Werke AG, and General Motors Co.
According to the report, cost benefits associated with the use of CNG are one of the major drivers of the Global CNG Vehicle market. Moreover, various countries in the European Union (EU) are offering tax benefits for CNG vehicles. Tax incentives for the buyers of CNG vehicles may help to compensate for their higher prices.
Further, the report also discusses that the lack of a widespread network of fuelling stations is one of the reasons why many consumers do not buy CNG vehicles.
For more information, visit www.researchandmarkets.com/research/trcqq3/global_compressed.
More Green Fleet
The EV Breakdown Nobody's Talking About: Why Most Electric Vehicle Roadside Calls Aren't Mechanical Failures
Here's why EV breakdowns are widely misunderstood.
Read More →
ChargePoint Now Available in Energy Pass
ChargePoint and additional planned charging network integrations were added to GM's Energy Pass.
Read More →
First Look: Slate Auto's Electric Fleet Pickup
Could an affordable, modular EV pickup make electrification more practical for fleets?
Read More →
Slate Debuts Colorful, Unique EV Models
A recent media and client event, studded with electric vehicles dressed up on platforms, planted a new position for the manufacturer in the wider EV market. Fleets will find cost-saving advantages.
Read More →
Slate Electric SUV, Pickup Switchable Model Aims For Light-Duty Fleets
Everything about this EV is counterintuitive and understated, making it stand out from the crowd.
Read More →
Inspiration Mobility Acquires Key Electrada Assets
Inspiration Mobility Group has acquired select assets of Electrada, adding the fleet electrification provider's team, technology, and charging infrastructure development capabilities to its energy management business.
Read More →
Turning Connected Vehicle Data Into Decisions That Matter
Fleet leaders have more data than ever, but turning that data into clear, actionable decisions remains a challenge. This white paper shows how leading organizations are using connected vehicle data to improve safety, reduce costs, and optimize fleet performance. Learn how to turn insight into action across your fleet.
Read More →
Are You Tracking Your Fleet's True Total Cost of Ownership?
Bobit Business Media surveyed 190 fleet professionals and found that while most fleets are tracking costs, fragmented systems and data gaps are keeping true TCO visibility out of reach. With rising pressure to control spend in an increasingly volatile environment, the gap between what fleets think they know and what the data actually shows is wider than you might expect. See how your peers are managing costs today and where the industry still has room to improve.
Read More →
Hybrids: Electrification Without the Challenges
For fleet managers, fuel is one of the biggest line items in the budget — and it's one hybrids can shrink without changing how your people work. Download the eBook to see the numbers, understand the technology, and get a step-by-step guide to making the switch.
Read More →