London, 01 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the CNG Vehicles Market in Europe 2014-2018, which is expected to grow at a CAGR of 5.51 percent during the period 2014-2018.
“There is an increase in the number of bi-fuel vehicles because these vehicles provide the advantage of an adequate fuel reserve between stopovers at stations, and rids the consumer of complete dependence on natural gas,” says Faisal Ghaus, Vice President of TechNavio.
“In recent years, consumers have begun to convert their gasoline vehicles into CNG vehicles by installing CNG components in a gasoline vehicle.”
Key Market Drivers
- Economic Advantages Related to Use
- Stringent Norms and Legislative Support
- Demand for Energy in Transportation Sector
- Environmental Benefits
Key Market Trends
- Increased Number of Bi-fuel Vehicles
- Advances in Technology in CNG Vehicles
- Infrastructure Growth
- Increased Expenditure on R&D
Key Market Vendors
- Daimler AG
- Fiat SpA
- General Motors Co.
- Peugeot Citroën SA
- Volkswagen AG
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
