Green Car Congress: Navigant forecasts global natural gas vehicle sales to his 4.2M units in 2023
According to a recent report from Navigant Research, worldwide sales of light-duty natural gas vehicles (NGVs) will grow from 2.5 million annually in 2014 to 4.2 million in 2023. As a result, the total number of NGVs on roads worldwide will approximately double to nearly 40 million in the next 10 years, accounting for 2.6% of all vehicles on the roads.
Overall, the worldwide market for LD NGVs is expected to grow at a compound annual growth rate (CAGR) of 5.7% between 2014 and 2023, with the number of passenger car sales growing at a slightly slower rate (5.5% CAGR) than light trucks (6.3% CAGR).
According to a recent report from Navigant Research, worldwide sales of light-duty natural gas vehicles (NGVs) will grow from 2.5 million annually in 2014 to 4.2 million in 2023. As a result, the total number of NGVs on roads worldwide will approximately double to nearly 40 million in the next 10 years, accounting for 2.6% of all vehicles on the roads.
Overall, the worldwide market for LD NGVs is expected to grow at a compound annual growth rate (CAGR) of 5.7% between 2014 and 2023, with the number of passenger car sales growing at a slightly slower rate (5.5% CAGR) than light trucks (6.3% CAGR).
