The Global Compressed Natural Gas (CNG) Vehicle Market to Grow At A CAGR Of 7.7 Percent over the Period of 2010 through 2014

DUBLIN--Research and Markets has announced the addition of the "Global Compressed Natural Gas (CNG) Vehicle Market 2010-2014" report to their offering.

“Global Compressed Natural Gas (CNG) Vehicle Market 2010-2014”

Tax Incentives Encouraging Use of Compressed Natural Gas Vehicles

Technavio's report, which examines the APAC, Americas, and EMEA regions, indicates that the market is currently being driven by the introduction of several tax incentives.

Governments across the globe have introduced incentive policies to promote the use of CNG. Consumers and manufacturers alike have been benefitting from these incentives. Such incentives are highly critical in a market where the penetration of CNG is still at a nascent stage. These tax incentives can help compensate for the high price of CNG vehicles, reports a TechNavio analyst.

In spite of the demand for CNG vehicles, the lack of proper infrastructure is hindering the growth of this market. Moreover, the CNG Vehicles market is witnessing a shortage of CNG supply in the APAC market. However, rising oil and gas prices are expected to keep driving the Global CNG Vehicle market.

These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.

The report, Global Compressed Natural Gas Vehicle Market 2010-2014, is based on extensive research conducted with industry experts, vendors, and end-users. It examines the key trends, drivers, and challenges impacting the evolution of this market. The report also contains an in-depth discussion and SWOT analysis of each of the key vendors in this market.

TechNavio's analysts forecast the Global Compressed Natural Gas (CNG) Vehicle market to grow at a CAGR of 7.7 percent over the period of 2010-2014. One of the key factors contributing to this market growth is the introduction of tax incentives across the world. The CNG Vehicle market has also been witnessing development in terms of infrastructure. However, the high cost of CNG vehicles could pose a challenge to the growth of this market.

Key vendors dominating this market space include Fiat SpA, Ford Motor Co., Suzuki Motor Corp., and Volkswagen.

TechNavio's Global Compressed Natural Gas Vehicle Market 2010-2014 report has been prepared based on an in-depth analysis of the market with inputs from industry experts. The report also covers the growth prospects of the Global CNG Vehicle market.

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