A new report forecasts that the CNG and LPG vehicle market will be worth nearly $5.2 billion by 2019. The report cites fluctuating gasoline and diesel prices, and the relatively low prices of these alternative fuels, for their growing popularity. The report also breaks down the popularity of natural gas and propane vehicles in different parts up the world. In the Asia-Pacific region, China is the largest consumer. In Europe, CNG thrives in Italy, while LPG is most popular in Turkey and Poland. Meanwhile, CNG remains a tough sell in America, while South America has a healthy market. Learn more in the press release below or at Markets and Markets.
The Ports of Los Angeles and Long Beach are testing trucks connected to overhead electric wires to reduce emissions and improve air quality. The eHighway, as the project is called, will cost $13.5 million and will use battery electric and hybrid trucks to move cargo around the ports along a one-mile stretch of wires. The trucks, made by Siemens and Volvo, also have the ability to disconnect from the wires and drive under their own power. See more in the video below or read more at ABC7.
Lyft is introducing its own carpooling feature to its car-hailing app. Yesterday, we reported that its competitor Uber is testing UberPool, and Lyft is now doing something similar to encourage people to share rides. Lyft Line offers discounted rides, and matches passengers who are going to nearby destinations around the same time. Lyft Line offers passengers a guaranteed price before they accept the ride. Lyft is launching the carpooling service in San Francisco, and hopes to expand it from there. Read the in-depth article at The New York Times.
A new book is available called Tesla Motors: How Elon Musk and Company Made Electric Cars Cool, and Sparked the Next Tech Revolution. Written by Charles Morris, senior editor of Charged, it chronicles the history of the famed electric automaker, its achievements in business and technology and the people responsible for Tesla's success. You can read the introduction to the book over at Tesla Motors Book or shop for it at Amazon.
The report "CNG & LPG Vehicle Market by Vehicle Type (Passenger Cars & Light Commercial Vehicles), Fuel Type (CNG & LPG), and Geography(Asia-Pacific, Europe, Americas & ROW) - Industry Trends & Forecasts to 2019", defines and segments the CNG & LPG Vehicle Market with the analysis and forecasting of its global volume and value.
Browse 92 market data tables with 79 figures spread through 240 pages and in-depth TOC on "CNG & LPG Vehicle Market - Industry Trends & Forecasts to 2019".
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Asia-Pacific: Potentially Growing Market for CNG and LPG Vehicles
Asia-Pacific includes developing countries, such as China and India as well developed countries, such as South Korea. Earlier, Pakistan was the leading consumer of CNG vehicles in this region, but it gave way to China to become the leader in 2012 as the local government put a ban on manufacturing and converting CNG vehicles. Japan, Thailand, and Hong Kong have their 90% taxis running on LPG, which are retro-fitted.
Europe: Established Market for LPG Vehicles
The European region experienced the economic downturn of 2009, which affected many industries. Currently, it is in a recovery phase and is anticipated that it will recover in a phased manner. The LPG vehicle market is projected to grow at a stable rate for the period under study. Europe is a major market for alternative energy vehicles and is home to a number of world-renowned automobile manufacturers, such as FIAT, Volkswagen, Peugeot, Citroen, and Renault. Poland and Turkey are the leading consumers of LPG vehicles in this region; whereas Italy is the biggest market for CNG vehicles.
Americas: Dominated by Retrofit CNG Vehicles
The Americas region comprises of the U.S. and Brazil, the latter being one of the emerging economies in this region. The industrial sector in these countries is booming, due to which the automotive industry is growing at a healthy rate. The promotion of flex fuels (E85, moisturized ethanol) by the Brazilian government has further propelled the demand for alternative energy vehicles. The U.S. has been very slow in adopting CNG vehicles and it can be exemplified by the fact that the Honda Civic CNG that was launched in 1998, still sells about 1,500 units a year. Argentina on the other hand, is a retrofit market .The top CNG and LPG manufacturers, such as Fiat (Italy), GM (U.S.), and Ford (U.S.) have a major presence in the Americas region.
The report covers the CNG & LPG Vehicles Market in terms of volume (thousand) and value ($million) across regions, such as Asia-Pacific, Europe, Americas, and the Rest of the World (ROW). The report briefly explains the CNG and LPG Vehicles Market on the basis of geography, vehicle type, and fuel type, from 2014 to 2019.
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The report also shows an overview of the technical as well as other important aspects of the CNG and LPG Vehicles Market. It includes the analysis of the value chain, Porter's Five Forces model, competitive landscapes, and company profiles. In addition to this, seven key players in the market have also been profiled.
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