The Natural Gas Vehicle Market growth is expected to gain high momentum during the forecast period due to the rise in crude oil prices and low prices of natural gas. Over the preceding 5-10 years, the global cost of fossil fuel has seen a rising trend. Because of these factors, there is an increasing demand for alternative fuel that is inexpensive and ecofriendly.
Key Factors Impacting Market Growth:
• The rise in crude oil prices and low prices of natural gas
• The national government of various countries is launching various incentive programs for the process of adoption of natural gas
• Expansion of the Panama Canal will lead to market growth