Nearly 1 million natural gas (NG) trucks and buses will be sold worldwide between last year and 2019, says a recent report by Pike Research, a part of Navigant’s Energy Practice.
Several factors are at play, says the report, including a rebounding construction industry which is pushing the overall truck market, municipalities which are wanting to expand their public transit systems, the substantially lower levels of GHGs emitted by NG vehicles and last but not least, the cost savings of NG over diesel.
“NG vehicles emit substantially lower levels of GHGs, particulate matter and nitrogen oxide than either gasoline- or diesel-powered trucks and buses, said senior research analyst David Hurst.
“What’s more,” he added, “compared to diesel engines, natural gas provides a financial benefit. In most cases, the higher incremental cost of an NG vehicle is typically recovered due to lower fuel costs within two to seven years.”
While longer haul trucks use liquefied natural gas or LNG, regional and in-city trucks normally use compressed natural gas or CNG because their tanks weigh less and are less costly LNG tanks.
LNG vehicles, the report stated, are seeing higher growth rates than CNG (17 percent as opposed to 14 percent).
An estimated 45 percent of the LNG refueling stations are in the U.S. although China has the largest annual sales for LNG vehicles (3,020 last year).
More than 930,000 NG trucks and buses will be sold by 2019, the study concludes.
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