Separate Reports Predict Robust Natural Gas Vehicles Growth
Two new reports indicate strong continued growth for natural gas vehicles, both in North America and China.
The number of NGV fueling stations installed worldwide will reach nearly 30,000 by 2020, says Colorado’s Navigant Research, predicting that some 40% of the new stations between now and 2015 will be in North America.
“Creating a robust infrastructure to refuel NGVs is challenging on several fronts,” says Dave Hurst, Navigant’s principal research analyst. “The cost of NGV refueling infrastructure is higher relative to other fuels, and any new pipelines needed for supplying CNG from the gas grid can make the viability of a new station challenging.
Cost Is King
“Nevertheless, the lower cost of both CNG and LNG relative to gasoline and diesel is expected to increase demand for both vehicles and new refueling stations.”
Navigant’s Natural Gas Vehicle Refueling Infrastructure includes updates on the current NGV market and the cost drivers for fueling facilities, as well as an assessment of the infrastructure supply chain, and profiles of key players.
Separately, a report issued in Hong Kong by Sanford C. Bernstein & Company’s Neil Beveridge indicates that the number of vehicles fueled by liquefied natural gas in China will increase to 800,000 by 2020, from about 80,000 today.
The demand for fuel will grow commensurately, form about 1.8 billion cubic meters last year 18 billion cubic meters – more than 4.7 trillion gallons.
Beveridge’s report details the savings expected by operators of LNG trucks in China.
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Source: Navigant and published reports with Fleets & Fuels follow-up