Gasoline will continue to power most light duty vehicles through 2040, but consumption will drop 24 percent according to a new report released by the National Association of Convenience Stores (NACS).
Market share will shrink 14 percent due to fuel efficiency and wider adoption of alternative fuels, said the 2014 NACS Future of Fuels report. The report analyzes projections made by the US Energy Information Administration (EIA) in its Annual Energy Outlook 2014.
Attention is paid to alternative fuel vehicles and the forecast growth of those technologies is significant, but liquid fuels — gasoline, diesel fuel and E85 — remain the dominant energy sources for light duty vehicles, contributing more than 99 percent of total energy consumed by light duty vehicles. They are projected to remain above 99 percent market share in 2040, according to the report.
The energy efficiency of vehicles on the road is expected to improve 42 percent by 2040, led by increased efficiency of vehicles powered by gasoline, natural gas and propane.