Natural Gas refueling stations globally is expected to reach almost 39,300 locations by 2026.
Date: Jul 17 , 2016
New Delhi: Global supplies of natural gas (NG) have reached record levels over the past decade thanks to the deployment of non-traditional extraction methods such as hydraulic fracturing. However, since late 2014, the production of crude oil has outpaced demand. This trend has triggered a sustained collapse in world oil prices, which have remained mostly below about $50 per barrel since that time. The low prices have put pressure on the market for natural gas vehicles (NGVs) and the corresponding refueling infrastructure.
Despite the pricing pressure, as fuel economy and greenhouse gas (GHG) emissions standards become increasingly stringent in world markets, NG becomes an attractive alternative to diesel. This is especially true for medium and heavy duty vehicles, where electrification is less practical and NG operation can reduce the costs associated with diesel emissions after-treatment. Meanwhile, tightening emissions regulations, particularly for diesel engines, will push fleets toward NG conversions—and refueling infrastructure will follow. According to Navigant Research, the total number of NG refueling stations globally is expected to reach almost 39,300 locations by 2026.
This Navigant Research report analyzes the global market for the deployment of NG refueling infrastructure, including both compressed and liquefied natural (CNG and LNG) gas stations. The study examines the key factors expected to influence the deployment of NG refueling infrastructure, including economic growth, fuel prices, and NGV sales. An analysis is provided of how all of these factors are projected to affect station operators, equipment suppliers, and gas suppliers. Global forecasts, segmented by CNG and LNG and region, extend through 2026.