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NGV infrastructure

Natural Gas Vehicle Refueling Stations to See 5.4% CAGR by 2025

NGV infrastructureThe total number of global natural gas vehicle (NGV) refueling stations will grow from about 23,001 in 2015 to 38,890 by the end of 2025, with a compound annual growth rate of 5.4 percent, according to a Navigant Research report.

The report says more than 80 percent of these stations will likely be compressed natural gas stations to support light duty NGVs, which Navigant projects to account for 90 percent of the NGV fleet at the end of the forecast period.

Natural gas is an appealing option for reducing operating costs and CO2 emissions for many applications, especially high-mileage fleet operators and consumers in regions with high retail prices for liquid fuels. However NGVs are only useful if refueling infrastructure is readily available. The density of refueling infrastructure varies widely and is frequently tied to government incentive programs. In addition, without a critical mass of vehicles in need of fuel, station operators are unwilling to invest in equipment—and without ready access to stations, retail customers do not buy NGVs. Yet, because NG is well-suited to larger vehicles such as refuse trucks and buses, fleet operators frequently take advantage of the low fuel cost by installing private stations in vehicle depots.

This Navigant Research report examines the key factors expected to influence the deployment of NGV refueling infrastructure, including economic growth, fuel prices, NGV sales, equipment costs, and regulations. The study provides an analysis of how all of these factors are projected to affect station operators, equipment suppliers, and gas suppliers. Global market forecasts, segmented by fuel (CNG and LNG), type of station (public vs. private), and region, extend through 2025. The report also examines the significant technical issues related to NGV refueling infrastructure, as well as the competitive landscape.

Last month Waste Management launched a $13 million new fleet of CNG-fueled trucks in Waterloo, Iowa. The company’s North American NGV fleet includes more than 32,000 collection and support vehicles, 18,500 of which are dedicated to collection activities.

 

 

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