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The global automotive natural gas vehicle market demand is expected to reach 38,856.33 thousand units by 2028. The market is anticipated to register a CAGR of 3.3% from 2021 to 2028.
The growing adoption of natural gas as an alternative fuel in vehicles, especially in the transportation sector worldwide, is creating the demand for automotive natural gas vehicles (NGVs). The low emission properties of NGVs facilitated by clean fuel characteristics are expected to drive their demand in public transportation, therefore boosting the market growth. The need for cleaner fuels at lower costs is also expected to drive market growth.
Moreover, government support for the adoption of these vehicles will augment the demand. The government authorities in various countries are implementing stringent regulations to curb environmental damages arising from the emission of Particulate Matter (PM) and Greenhouse Gases (GHG) from vehicles. Simultaneously, w
Automotive Natural Gas Vehicle Market Size, Share & Trends Analysis Report By Fuel Type, By Vehicle Type, By Region And Segment Forecasts, 2021 - 2028
Automotive Natural Gas Vehicle Market Size, Share & Trends Analysis Report By Fuel Type (CNG, LNG), By Vehicle Type (Passenger, Light-duty & Heavy-duty Buses & Trucks), By Region, And Segment Forecasts, 2021 - 2028
May 05, 2021 05:50 ET | Source: ReportLinker ReportLinker Lyon, FRANCE
New York, May 05, 2021 (GLOBE NEWSWIRE) Reportlinker.com announces the release of the report Automotive Natural Gas Vehicle Market Size, Share & Trends Analysis Report By Fuel Type, By Vehicle Type, By Region And Segment Forecasts, 2021 - 2028 - https://www.reportlinker.com/p05896969/?utm source=GNW
California Governor proposes $1.5B in new budget to achieve ZEV goals
Governor Gavin Newsom has submitted his 2021-22 State Budget proposal to the state Legislature. Among the many provisions, the Governor’s budget proposes $1.5 billion to achieve the state’s zero-emission vehicle (ZEV) goals by 2035 and 2045, including securitizing up to $1 billion to accelerate the pace and scale of the infrastructure needed to support zero-emission vehicles.
Executive Order N-79-20 directly addresses California’s transportation emissions challenge by positioning state agencies to work with stakeholders to aggressively scale the zero-emission vehicle market. The order sets the following zero-emission targets:
100% of in-state sales of new passenger cars and trucks by 2035;