Navigant Research sees nearly 35 mill natural gas vehicles by 2020

Boulder-based Navigant Research said Tuesday that natural gas vehicles on roadways worldwide will reach nearly 35 million by 2020.

The research firm said that the increase in natural gas vehicles is being driven by a combination of low-cost natural gas and sustained higher prices for gasoline and diesel.

Navigant said the number of natural gas vehicles on roadways worldwide will increase steadily over the remainder of the decade, reaching 34.9 million by 2020, up from 18.2 million in 2013.

"NGVs experienced a brief surge in popularity in the 1970s and early 1980s as a result of the 1973 oil embargo and the price shocks that followed," said Dave Hurst, principal research analyst with Navigant Research.

"Today, growth in the market is being fueled less by negative external events and more by positive industry developments, such as increased vehicle availability, a stronger focus on the largest users of fuel in new regions, and a greater openness to alternative fuel vehicles on the part of motorists and fleet operators," Hurst added.

This article was first published by The Denver Post.

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