Worldwide annual sales of natural-gas trucks and buses are expected to rise to nearly 400,000 in 2022, according to a recent report.
The rise from the current 170,000 natural gas-vehicles sold annually is driven by the price of natural gas, which costs on average 42% less than diesel, according to a report from Navigant Research.
“In North America, where natural-gas costs remain low, the number of vehicles is outstripping the development of refueling stations,” Dave Hurst, principal research analyst with Navigant, said in a statement.
“In Asia Pacific, China and other developing markets are looking to natural gas to help address environmental woes in large cities. As a result, the total number of natural-gas trucks and buses on the road by 2022 is anticipated to reach nearly 4 million,” Hurst said.