Natural gas vehicles
generally cost more than petrol or diesel vehicles. This is mainly
due to the cost of high-pressure insulated fuel tank which is
required to store LNG or CNG.This research report analyzes this
market on the basis of its market segments, major geographies, and
current market trends.
With depleting
reserves of crude oil and our dependence on foreign countries for
import of crude oil is increasing. It is important to start using
clean, inexpensive and abundantly available natural gas as a fuel in
vehicles. Natural gas vehicles are good for our environment as well
as for our economy. Government incentives and unprecedented industry
investment spurred the demand of natural gas and available services.
Natural gas is a clean alternative fuel that is low cost and
environmental friendly than conventional fuels such as gasoline or
diesel. Liquefied natural gas (LNG) or compressed natural gas (CNG)
is produced from natural gas that offers various environmental,
economic and policy benefits.
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the full Natural Gas Vehicles
Market Report
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Natural gas vehicles
generally cost more than petrol or diesel vehicles. This is mainly
due to the cost of high-pressure insulated fuel tank which is
required to store LNG or CNG. Savings in the fuel costs can make
significant savings over the life of a vehicle, depends on the number
of miles driven and fuel efficiency. Huge amount of savings are
currently seen in heavy-duty and high mileage fleets. These types of
vehicles consume large quantity of fuel for owners and operators to
see a pay back in as little as 1-1.5 years. As cost of the fuel tanks
decreases, light-duty passenger vehicles will be less costly and also
enjoys a shorter payback period.
Exhaust emissions
arising from natural gas vehicles are lower in comparison to gasoline
and diesel vehicles. Honda Civic has been recognized by the U.S.
environmental protection agency (EPA) as the cleanest and
commercially available vehicle. Exhaust emissions accounts for a
significant portion of the emissions associated with operations in
conventional fuel driven vehicles. Natural gas vehicles on the other
hand produce negligible emissions during fueling and use.
As per the analysis
of Argonne National Lab well analysis that uses the current U.S. EPA
figures natural gas vehicles enjoy emissions reductions in both new
and operational gasoline and diesel driven vehicles. It is one of the
clean alternative transportation fuels abundantly available today and
can reduce greenhouse gas emissions by high amount when compared with
other fuels such as diesel and gasoline.
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Exhaust emissions
from natural gas vehicles when compared with gasoline and diesel
vehicles offer significant amount of reductions in common urban
pollutants such as: Carbon monoxide, Non-methane organic gas,
Nitrogen oxides and Carbon dioxide. Conversion of a new vehicle
provide huge opportunity to save fuel cost and hence pays back the
cost for conversion and generate savings throughout life. The cost
includes related brackets, the retrofit system, fuel tanks and cost
for installation. The quantity of fuel asked by the customer
significantly impacts the cost.
Stringent government
regulations and participation by industry are some of the key drivers
of natural gas vehicles market. However, high operational cost and
capital cost in the manufacturing of natural gas vehicles can hamper
the market’s growth in future. Increasing pollution level brings
new opportunities for natural gas vehicles in the coming years.
Some of the key
players in the business of natural gas vehicles are Honda Motor
Company Ltd, Isuzu Motors Ltd, AB Volvo, Caterpillar Inc, Volkswagen
AG, Ford Motor Company, Renault SA, Toyota Motor Corporation, General
Motors Company and Suzuki Motor Corporation Ltd among others.
This research report
analyzes this market on the basis of its market segments, major
geographies, and current market trends.
Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This report
provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a
complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the
coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
Reasons for
Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
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