BOULDER, Colo.–(BUSINESS WIRE)–A new report from Navigant Research analyzes the market for natural gas refueling infrastructure and the factors expected to influence its deployment, including global market forecasts segmented by fuel type, station type, and region, through 2025.
Due to its abundant supply, low price, and ability to reduce operating costs, natural gas is an increasingly appealing alternative for fueling ground vehicles. As fuel economy and greenhouse gas emissions standards become increasingly stringent in world markets—particularly for medium and heavy duty vehicles, where electrification is less practical—the use of natural gas is also an effective way to reduce carbon emissions. Click to tweet: According to a new report from Navigant Research, the total number of global natural gas refueling stations is expected to grow from 23,001 in 2015 to 38,887 in 2025.
“In the arena of alternative fuels for transportation, natural gas has proven to be one of the most popular alternatives to traditional liquid fuels in many global markets, either in the form of compressed natural gas (CNG) or liquefied natural gas (LNG), with the former being by far the more common,” says Sam Abuelsamid, senior research analyst with Navigant Research. “However, in order for any alternative to gasoline or diesel to be viable as a transportation fuel, readily available refueling infrastructure is an absolutely necessary component of the ecosystem.”
Despite the advantages of natural gas, the density of global refueling infrastructure varies widely and is often tied to government incentive programs, according to the report. In addition, without a critical mass of vehicles in need of fuel, station operators are unwilling to invest in equipment, and without ready access to stations, retail customers will not buy natural gas vehicles.
The report, Natural Gas Vehicle Refueling Infrastructure, examines the key factors expected to influence the deployment of NG refueling infrastructure, including economic growth, fuel prices, NGV sales, equipment costs, and regulations. The study provides an analysis of how all of these factors are projected to affect station operators, equipment suppliers, and gas suppliers. Global market forecasts, segmented by fuel (CNG and LNG), type of station (private vs. public), and region, extend through 2025. The report also examines the significant technical issues related to NG refueling infrastructure, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is an independent specialized, global professional services firm that combines deep industry knowledge with technical expertise to enable companies to defend, protect and create value. With a focus on industries and clients facing transformational change and significant regulatory and legal issues, the Firm serves clients primarily in the healthcare, energy and financial services sectors which represent highly complex market and regulatory environments. Professional service offerings include strategic, financial, operational, technology, risk management, compliance, investigative solutions, dispute resolutions services and business process management services. The Firm provides services to companies, legal counsel and governmental agencies. The business is organized in four reporting segments – Disputes, Investigations & Economics; Financial, Risk & Compliance; Healthcare; and Energy. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Natural Gas Vehicle Refueling Infrastructure, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.