The global compressed natural gas (CNG) and liquified petroleum gas (LPG) market is expected to grow over the next six years due to the increase in population and urbanization, a growing demand for passenger and commercial vehicles, and stringent emission control norms across the globe, according to a new forecast.
The global demand for vehicles powered by CNG and LPG (also known as propane autogas) is further fueled by unstable conventional fuel prices, according to a November report from P&S Market Research.
“Vehicles must be certified to new demanding emission limits that require today’s motor vehicles to be 90% cleaner for most pollutants in European and other developed nations,” stated the report, which is titled "Global CNG and LPG Vehicle Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Fuel Type (LPG, CNG), by Vehicle Type (Passenger Car, Light & Heavy Duty Trucks, Bus)."
Europe was the largest market for CNG and LPG vehicles in 2015, which was due in part to the high cost of diesel and stringent regulations by the European Union for low emissions across Europe, according to the report. Meanwhile, the CNG and LPG vehicle market in South America and Asia-Pacific region is expected to increase at a significant rate due in part to the increasing infrastructure for CNG and LPG fueling stations.
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from Automotive Fleet http://www.automotive-fleet.com/channel/global-fleet/news/story/2016/11/global-cng-lpg-vehicle-market-to-boost-over-the-next-6-years.aspx
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