Market Analysis report
grabbed attention at globally hiked requirement of natural gas has already
increased by 2.7 percent per annum from the year of 2000; on the contrary
demand for LNG worldwide has risen by an approximately 7.6 percent every year
during the same period, almost three times faster. It has been speculated that
demand for natural gas will continue to increase in the international market in
the future. In the latest, Liquefied Natural Gas (LNG) is being recognized as
an environmentally safe and one of the best resources classified as the clean
fuel it will make tremendous impact on automotive industry across major global
economies.
As far as Vehicle Grade LNG Market is
concerned, owners are gradually inclining towards LNG fueled vehicles. Most
common causes behind this international shift from conventional fuel to LNG is
this fuel proves to be cost-effective thus regarded as easy on wallet and
creates low emissions therefore it is also acknowledged as environment friendly
or eco-friendly.As a result of which many countries are promoting and
encouraging buyers to go for LNG rather than being dependent on crude oil.We
shall also take into account few practical aspects such as availability of poor
infrastructure to complement this trend across the globe. But both the aspects
are interrelated.
Buyers are reluctant to shift to LNG just because of this major drawback
however LNG stations and companies claim that because of inadequate response
till date we are unable to provide service in expected number. Today, North
America and Asia-Pacific have initiated use of LNG fueled vehicles, especially
the United States and China.
