The sales of CNG vehicles in Europe are expected to grow at a compound annual growth rate (CAGR) of 14.01% over the period 2011-2015, according to a new report.
TechNavio's report, the 'CNG Vehicle Market in Europe 2011-2015' has revealed that the rising oil consumption in Europe is mainly responsible for the growth of CNG vehicles in the region.
According to the report, the CNG vehicle market in Europe has been seeing the increase in demand for bi-fuel vehicles which can be run by CNG as well as gasoline.
The report however said that the proper infrastructure deficiency has been a barrier to the continent's CNG vehicle market growth.
According to TechNavio, the chief vendors leading the CNG vehicle market space include Fiat, Daimler, Adam Opel, and Volkswagen, in addition to other vendors which include SEAT, Audi, Volvo, Saab Automobile, Industrial Vehicle, MAN Truck and Bus, Van Hool and Scania.
