TechNavio today launched its report Compressed Natural Gas Vehicle Market in the APAC Region 2011-2015 based on an in-depth study focusing exclusively on the APAC region. The report aims to aid decision makers’ understanding of the significant trends impacting this market.
Commenting on the report, an analyst from TechNavio’s Automotive team said; ”The Compressed Natural Gas (CNG) Vehicle market in the APAC region is expected to witness an increase in conversions of normal gasoline vehicles to CNG in the near future, which will drive the demand for CNG-powered vehicles. For instance, authorities from various cities in India mandate the replacement of old vehicles or vehicles that are not eco-friendly.”
According to the report, the very volatile Oil and Gas industry has been a major growth driver for the CNG Vehicle market in the APAC region. The increasing prices of gasoline and diesel have affected economies across the APAC region, forcing countries to develop other solutions. CNG provides a solution to the increasing prices and the falling reserves of oil and gas. With the recent turmoil in the Middle East and the post-economic recession recovery period, countries across the APAC region have overcome the oil and gas crisis by purchasing CNG vehicles. The majority of developing countries such as Thailand, Indonesia, Pakistan, India, and the Philippines have benefited because these countries have significant supplies of natural gas.
Further, the report also discusses that the lack of a proper refueling infrastructure has created challenges to the growth of the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic reports on niche and emerging technologies. For further information, please visit http://goo.gl/l9nhz
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TechNavio Announces the Publication of its Report – Compressed Natural Gas Vehicle Market in the APAC Region 2011-2015
