Natural gas refueling stations expected to reach 39,300 worldwide by 2026 – Navigant

Natural gas offers benefits for medium, heavy duty vehicles, as well as fleets, report finds

refueling

Natural gas semi truck

BOULDER, Colo. – A new report from Navigant Research examines the global market for the deployment of natural gas refueling infrastructure, including an analysis of key deployment factors, with forecasts segmented by compressed natural gas and liquefied natural gas, through 2026.

Since late 2014, the production of crude oil has outpaced demand, triggering a sustained collapse in world oil prices, which have remained mostly below $50 per barrel.

“Despite the decline in oil prices, stricter emissions and fuel economy regulations mean that natural gas remains a very attractive alternative to gasoline and diesel in many regions and vehicle applications where electrification is not a practical alternative,” says Sam Abuelsamid, senior research analyst with Navigant Research.

As a result, these low prices have put pressure on the market for natural gas vehicles and the corresponding refueling infrastructure.

“While slowing growth in China is having an impact on vehicle sales, the number of natural gas refueling stations globally is still projected to swell at a 4.4 per cent compound annual growth rate during the next decade,” said Abuelsamid.

Several market drivers continue to make natural gas an appealing proposition in the next decade, especially for larger trucks and buses, where electrification is not as practical, and natural gas operation can reduce the costs associated with diesel emissions after-treatment.

According to the report by Navigant, tightening emissions regulations, particularly for diesel engines, are also expected to push fleets toward natural gas conversions, with refueling infrastructure to follow.

The report, Natural Gas Refueling Infrastructure, analyzes the global market for the deployment of NG refueling infrastructure, including both compressed and liquefied natural gas stations.

The study examines the key factors expected to influence the deployment of NG refueling infrastructure, including economic growth, fuel prices, and natural gas vehicles sales. An analysis is provided of how all of these factors are projected to affect station operators, equipment suppliers, and gas suppliers.

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