London, 10 November 2014 – Increased oil and gas consumption in the transportation sector is the primary growth driver in the Global Autogas Market.
The market is expected to grow at a CAGR of 4.8 percent from 2014-2018, says research firm TechNavio.
More vehicles on the roads, coupled with depleted petroleum reserves has led to an increased demand for alternative fuel for transportation. The use of autogas in vehicles is fast emerging as a viable alternative, reducing petrol and diesel consumption.
About the Report
The latest report by Technavio emphasizes environmental concerns that need to be addressed in the transportation sector. Globally, this sector accounts for more than 22 percent of overall CO2 emissions. Countries like China, the US, India, Russia and Japan are responsible for the majority of CO2 and GHG emissions globally.
“Increased adoption of autogas vehicles has the potential to completely change how the transportation sector uses fuel,” says Faisal Ghaus, Vice President of TechNavio.
“It is estimated that CO2 emissions could be cut down by more than 95 percent, with the deployment of autogas.”
Autogas is emerging as an attractive option as governments worldwide look to implement policies to curb emissions, which will ultimately have a positive impact on market projection through the forecast period.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Growing Oil and Gas Consumption in Transportation Sector
- For a full detailed list, view our report.
Market Challenges:
- Capital Intensive Market
- For a full detailed list, view our report.
Market Trends:
- Growing Need for Green Environment
- For a full detailed list, view our report.
Key Vendors:
- BP Plc.
- Chevron Corp.
- ExxonMobil Corp.
- Flogas UK Ltd.
Other Prominent Vendors:
- Autogas Nord
- GAZPROM
- Lange Gas
- SK Gas
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
