Global Vehicle Grade Lng Market Forecast and Opportunities, 2020

Mar 23, 2015- Mumbai, India : Bharatbook.com announces a report,on “Global Vehicle Grade LNG Market Forecast and Opportunities, 2020” global market for vehicle grade LNG is projected to witness double digit growth of around 25% through 2020.

In recent years, Liquefied Natural Gas (LNG) has emerged as an environment-friendly clean fuel for use in automotive industry across major global economies. Vehicle owners across major global markets are gradually moving towards LNG fueled vehicles. Major factors that are driving the adoption of LNG as a fuel in automobiles include significantly lower carbon emissions and cost-effectiveness of LNG compared to conventional fuels. Consequently, an increasing number of countries are emphasizing on the adoption of LNG as a fuel as it would lower their dependence on crude oil. Owing to these factors, various government initiatives have been introduced in developed economies to steer the market towards LNG powered vehicles. However, most of the countries still lack proper LNG infrastructure, which is posing a huge market challenge. Presently, the number of active refueling stations and related infrastructure is very limited across the globe.

According to “Global Vehicle Grade LNG Market Forecast & Opportunities, 2020”, global market for vehicle grade LNG is projected to witness double digit growth of around 25% through 2020. North America and Asia-Pacific have emerged as the major growth areas on account of significant adoption of LNG fueled automobiles, specifically in the United States and China. Europe, on the other hand, is still a nascent market for LNG fueled vehicles. The global vehicle grade LNG market is at an embryonic stage of development (excluding China and the US) and it would take some time for LNG to become a widely used transportation fuel worldwide. “Global Vehicle Grade LNG Market Forecast & Opportunities, 2020” discusses the following aspects of vehicle grade LNG market across the globe:

• Global Vehicle...