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Increased Oil Consumption Accelerating Growth in the Global CNG Vehicles Market

Reportstack has announced a new market research report on the Global CNG Vehicles Market 2014-2018. One key trend emerging in this market is the increased demand for bi-fuel vehicles that can run on CNG and gasoline. Bi-fuel or dual-fuel vehicles are gaining popularity as such vehicles ensure that there is an adequate fuel reserve between visits to CNG fueling stations, and thus consumers do not have to completely depend on natural gas to fuel their vehicles.

The key vendors in the Global CNG Vehicles Market 2014-2018 are Fiat SpA, Ford Motor Co., General Motors Co. (GM), Honda Motor Co. Ltd., Hyundai Motor Co., Suzuki Motor Corp., Toyota Motor Corp. and Volkswagen AG.

“An increase in oil consumption, the scarcity of resources, the shortage of oil reserves, and the increased demand for vehicle fuels are forcing a number of countries to seek alternative ways of reducing their dependence on oil,”.“As a result, many countries are encouraging the adoption of CNG vehicles.”

To define the market conditions in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance. 

Complete report available @  Global CNG Vehicles Market 2014-2018.