As the “cryogenic fuel” sits at a crossroads, most in the industry it hopes to penetrate still do not understand the reason for its existence.
For continued success, the value proposition for natural gas vehicles (NGVs) must be able to withstand the headwind of low fuel prices. This is particularly true for heavy-duty NGVs, which have only more recently begun to gain momentum. If exponential growth of this segment can be sustained, then the adoption of liquefied natural gas (LNG) is inevitable.
Casual observers may be surprised to learn that more than 18 million NGVs populate the automotive landscape worldwide. The vast majority of these are small vehicles in Asia-Pacific and Latin America. Individual countries, including Iran, Pakistan, Argentina, Brazil, and China, have more NGVs than the whole of Europe, which itself dwarfs North America’s count by about 10 to one. These regional variations are explained by the NGV value proposition which can be simplified into the following categories: environmental, economics, and energy independence.
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