Long-haul and heavy goods transport susceptible to NG uptake

New data from research analysts Technavio suggests that the global light- and heavy-duty natural gas vehicle (NGV) market will grow at a CAGR of 5% between 2017 and 2021, predominantly driven by improved fuel efficiency over diesel and gasoline. The volatile nature of oil costs means that diesel prices tend to fluctuate, while NG supply is abundant and the price remains steady. The commercial vehicle (CV) segment should witness the greatest amount of growth, as it is reliant on low fuel costs for shorter payback periods.