17 Million Natural Gas Vehicles Will Be on the Road by 2015, Forecasts Pike Research

Mon Oct 19, 2009 5:00am EDT

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BOULDER, Colo.--(Business Wire)--
Natural gas vehicles (NGVs) have been in the marketplace for a long time, but
despite technology advances and the ready availability of natural gas, it is
still not widely accepted as a transportation fuel in many parts of the
world.However, according to a new report from Pike Research, the NGV sector is
poised for a new period of growth.The cleantech market intelligence firm
forecasts that the number of NGVs on the road worldwide will grow to 17 million
vehicles by 2015, up from 9.7 million in 2008.In 2015, NGV sales will surpass 3
million vehicles for the first time.

"Governments, fleet managers, and consumers are increasingly recognizing the
environmental benefits of lower emissions from natural gas vehicles," says
industry analyst Dave Hurst."However, lack of refueling station infrastructure
has inhibited NGV demand in many countries.In regions where NGVs have strong
market performance, adoption is largely due to a combination of inexpensive
natural gas, a large number of existing refueling stations, and government
subsidies of vehicles, fuel, and infrastructure."

Hurst adds that the top five markets for NGVs are currently Pakistan, Argentina,
Brazil, Iran, and India.Over the next five years, he forecasts that Canada,
India, and the United States will be the fastest growing markets.In the U.S.,
the growth will be driven by greater adoption of NGVs within government and
corporate fleets.

Pike Research`s report, "Natural Gas Vehicles", analyzes the opportunities and
challenges facing NGV cars, light trucks, and medium/heavy duty trucks.The
report includes a comprehensive assessment of compressed natural gas (CNG) and
liquefied natural gas (LNG) vehicle technologies, and it also examines key
drivers of demand with both fleet customers and private consumers.An Executive
Summary of the report is available for free download on the firm`s website.

Pike Research is a market research and consulting firm that provides in-depth
analysis of global clean technology markets.The company`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 Renewable Energy, Clean Transportation, Clean Industry, Green
Consumers, and Environmental Management sectors.For more information, visit
www.pikeresearch.com or call +1.303.997.7609.

Pike Research
Clint Wheelock, +1-303-997-7609

Copyright Business Wire 2009

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