TechNavio today launched its report Global Compressed Natural Gas Vehicle Market 2011-2015 based on an in-depth study covering Asia, and the Americas and Europe. The report aims to aid decision makers™ understanding of the present and the future landscape of the market.
Commenting on the report, an analyst from TechNavio’s Automotive team said; ”The Global Compressed Natural Gas (CNG) Vehicle market will witness the emergence of infrastructure companies in the near future. The infrastructure for CNG Vehicle is uncertain in almost all countries. This is a major challenge because most authorities find it hard to manage the demand and supply of CNG. However, there has been a rising trend of large enterprises entering the Infrastructure market to overcome these hurdles. Moving forward, companies such as Clean Energy Fuels, Valero Energy, Fuel Systems Solution, Chesapeake Energy and Questar Corp. are setting up CNG fueling stations to solve the CNG infrastructure problem.”
According to the report, cost benefits associated with the use of CNG are one of the major drivers of the Global CNG Vehicle market. Moreover, various countries in the European Union (EU) are offering tax benefits for CNG vehicles. Tax incentives for the buyers of CNG vehicles may help to compensate for their higher prices.
Further, the report also discusses that the lack of a widespread network of fueling stations is one of the reasons why many consumers do not buy CNG vehicles.
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 https://www.technavio.com/content/global-compressed-natural-gas-vehicle-m….
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TechNavio Announces the Publication of its Report – Global Compressed Natural Gas Vehicle Market 2011-2015
