London, 09 October 2014 – TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Global CNG Vehicles Market 2014-2018.
Compressed Natural Gas (CNG) is a low-carbon fuel for automobiles. Although CNG is not the greenest form of energy, vehicles that run on it produce relatively fewer harmful gases than vehicles that run on gasoline or diesel. The Global CNG Vehicles Market is expected to grow at a CAGR of 7.71 percent from 2013-2018.
The latest report by TechNavio focuses on the increasing demand for vehicles, which directly influences the demand for natural gas and CNG vehicles. Additionally, the report highlights the growing number of bi-fuel vehicles, which is expected to drive overall market growth.
“Bi-fuel or dual-fuel vehicles are gaining popularity, as these vehicles ensure that there is an adequate fuel reserve between visits to CNG fueling stations, meaning that consumers do not have to completely depend on natural gas. However, the use of bi-fuel vehicles might affect the sales of CNG vehicles, because consumers may start simply converting their gasoline vehicles,” says Faisal Ghaus, Vice President of TechNavio.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Demand for Vehicles
- For a full detailed list, view our report.
Market Challenges:
- Competition from Alternative Fuels
- For a full detailed list, view our report.
Market Trends:
- Increase in Number of Bi-fuel Vehicles
- For a full detailed list, view our report.
Key Vendors:
- Fiat SpA
- Ford Motor Co.
- Honda Motor Co. Ltd.
- Hyundai Motor Co.
Other Prominent Vendors:
- Chrysler
- Daimler
- Mercedes-Benz
- Nissan Motors
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
