The ‘Natural Gas Refuelling Infrastructure: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024’ report has been added to ResearchAndMarkets.com's offering.
The report predicts the global natural gas refuelling infrastructure to grow with a CAGR of 10% over the forecast period of 2018 – 2024.
The use of natural gas as a vehicular fuel is expected to reduce the dependence of countries on the imports of crude oil. Thus, the use of natural gas as vehicular fuel appreciates support from the governments of various countries. This is also expected to increase the number of natural gas vehicles, which in turn is expected to drive the natural gas refuelling infrastructure market. Moreover, the large number of benefits, such as low cost and non-toxic nature, have also contributed to the increasing demand for natural gas as a vehicular fuel.
On the other hand, governments of various countries are promoting the use of clean fuel (in vehicles) by reducing the fuel duty on cleaner fuels such as LNG and CNG. Natural gas vehicles (NGVs) are similar to gasoline or diesel vehicles with regard to power, acceleration and cruising speed. The driving range of NGVs is generally less than that of comparable gasoline and diesel vehicles because, with natural gas, less overall energy content can be stored in the same size tank. This in turn is fueling the growth of the natural gas refuelling infrastructure market.
Furthermore, the use of natural gas is safer for the environment and human health as it does not emit harmful gases, which is the case with petrol and diesel. This is expected to create lucrative opportunities for the global natural gas refuelling infrastructure market in the coming years.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/21092018/natural-gas-refuelling-infrastructure-global-industry-analysis-trends-market-size-and-forecasts-to-2024/