30 Jun '13, 6pm

Market Forces to Give More Pop to Natural Gas Vehicles #Natural_Gas_Vehicle #Design #Technology

Market Forces to Give More Pop to Natural Gas Vehicles #Natural_Gas_Vehicle #Design #Technology

Market forces will cause sales of natural gas vehicles (NGVs) to spike over the next seven years, but the overall number of those vehicles will still be small, a new report from Navigant Research says. "It's growing much faster than the total car market," Dave Hurst, senior analyst for Navigant, told us. "But part of the reason for that growth is that it's still such a small market. It has nowhere to go but up." Higher gasoline prices and lower natural gas prices will power the move to NGVs, according to the report, Market Data: Natural Gas Vehicles (registration required). Those forces will give rise to a 16 percent compound annual growth rate from now until 2020. Navigant Research expects about 35 million NGVs -- or about 2 percent of the world's vehicles -- on the road worldwide by 2020. For the next few years, most of the vehicles using the technology will be trucks. B...

Full article: http://www.designnews.com/document.asp?doc_id=264877&itc=...

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