BOULDER, Colo., Oct. 19 (UPI) -- Sales for natural gas vehicles are forecast to pass 3 million worldwide for the first time by 2015 with growth from the U.S. market, a research report said.
Global energy market research firm Pike Research in its latest report on clean energy predicts the number of natural gas vehicles on the road worldwide should increase from 9.7 million in 2008 to 17 million by 2015.
The report recognizes the presence of natural gas vehicles on the market currently but said the fuel technology is not embraced globally because of the lack of refueling station infrastructure.
Dave Hurst, an industry analyst contributing to Pike Research's clean transportation practice, said the technology could see growth in the corporate and government fleets.
"Governments, fleet managers, and consumers are increasingly recognizing the environmental benefits of lower emissions from natural gas vehicles," he said.
The report noted that Central Asia and Latin America are strong markets for natural gas vehicles currently, though the United States and Canada might see rapid growth.
Pike Research said it anticipates growing acceptance of natural gas vehicles as governments move on energy security and climate change legislation, with a 5.5 percent increase in sales by 2015.
