TechNavio today launched its report Compressed Natural Gas Vehicle Market in North America 2011-2015 based on an in-depth study focusing exclusively on North America. 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 North America is expected to witness an increase in the number of refueling stations in the near future. Therefore, the US and Canada are setting targets to expand their existing CNG refueling station networks. For instance, many companies in the US are promoting CNG for use as a transportation fuel.”
According to the report, the very volatile Oil and Gas industry is a major growth driver for the CNG Vehicle market in North America. CNG provides a solution for the increasing prices and the falling reserves of oil and gas. Hence, this will drive the CNG Vehicle market in North America.
Further, the report also discusses that the high cost of vehicles powered by CNG is posing a threat 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/o2wI4
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TechNavio Announces the Publication of its Report – Compressed Natural Gas Vehicle Market in North America 2011-2015
