The Global Market for Alternative Fuels for Commercial Vehicles
The global market for alternative fuels for commercial vehicles totaled $52.6 billion in 2014 and $39.3 billion in 2015. The market should total $80.3 billion by 2020, in the base case of $80-per-barrel oil, demonstrating a compound annual growth rate (CAGR) of 15.4% from 2015 to 2020.
The global market for LPG fueled commercial vehicles totaled nearly $22.0 billion in 2014. The market should total $25.5 billion by 2020, increasing at a CAGR of 12.5% from 2015 to 2020, in the base case of $80-per-barrel oil.
The global market for CNG totaled nearly $11.2 billion in 2014, and should total over $20.0 billion by 2020, increasing at a CAGR of 17.1% from 2015 to 2020, with a base case of $80-per-barrel oil.
