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Global CNG Vehicles Market 2014-2018″ report to their offering.

Research and Markets: Global CNG Vehicles Market 2014-2018 – Increased Number of Bi-fuel Vehicles

                            

 

DUBLIN–(BUSINESS WIRE)–

 

Research and Markets  has announced the addition of the Global CNG Vehicles Market 2014-2018″ report to their offering.

The Global CNG Vehicles market to grow at a CAGR of 7.71% over the period 2013-2018

CNG is a low-carbon fuel for automotive, and CNG-fuelled automotive can be used as alternative fuel vehicles. Natural gas is an organic compound found deep within the earth, and it mainly consists of methane. In a CNG vehicle, natural gas is compressed and put into the vehicle through a gas dispenser.

Vehicles that run on it produce relatively less harmful gases compared to vehicles that run on gasoline or diesel. CO2 and non-methane hydrocarbon emissions of CNG vehicles are lower than those of conventional fuel vehicles by 25 percent and 50 percent, respectively.

One key trend in the market is the increased demand for bi-fuel vehicles that can run on CNG and gasoline. In recent years, users of vehicles that run on gasoline have started converting them into CNG vehicles. Such conversions are done by installing CNG components. These components act as the primary fuel source in these vehicles, and gasoline acts as the backup fuel.

According to the report, one of the main drivers of this market is the increasing demand for vehicles, which directly influences the demand for NGVs, thereby positively influencing the demand for CNG vehicles.

Further, the report states that one of the main challenges in this market is the lack of proper infrastructure, which is affecting the sales of CNG vehicles. The shortage of CNG fueling stations is a serious concern in the Global CNG Vehicles market.