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Global NGV market the largest throughout Asia-Pacific

Industry Sector

Automotive and Parts

Published

4 December 2012

Author

Matt Bodimeade

Type of News

Market

The population of the global natural gas vehicle (NGV) market is projected to reach nearly 36 million units by 2018, driven by rapid adoption in developing nations of Asia, Middle East, and Latin America.

Natural gas is the fastest growing fossil fuel in the world, and its availability and environmental friendliness make natural gas the primary energy resource and a major raw material in the chemical and petrochemical industries, especially in industrialised parts of the world.

The International Association of Natural Gas Vehicles estimates that more than 11.2 million NGVs currently ply the roads globally, with an annual average 28% growth rate since 2000.

NGVs are fuelled either with compressed natural gas (CNG), which is delivered through the pipeline system, or liquefied natural gas (LNG), which is normally delivered by truck to the fuelling station. The fuel can be made available at public stations, private fleet facilities, or even homes where natural gas pipeline distribution is available.

Public natural gas stations have dispensers that are similar in design to typical gasoline or diesel dispensers and have comparable filling times. Private facilities are used by dedicated fleet(s) and are either fast-fill or time-fill (i.e., tanks are filled over an extended period of time).Honda Civic NGV

In the United States, recent shale gas discoveries have generated renewed interest in using natural gas as a vehicular fuel, primarily in fleet applications, while outside the US, natural gas vehicle use has expanded significantly in the past decade.

NGV population is projected to witness high growth even in oil rich regions such as Iran, owing to constraints in refined fuel supply in the region. The Middle East region is forecast to witness the fastest growth in NGV population, followed by Asia-Pacific, and Europe, while Asia-Pacific currently accounts for the largest population of NGVs worldwide.

For more information on the global NGV market, see the latest research: Global NGV Market

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