14% of Trucks Sold by 2035 Will Run On Alternative Fuel
CHICAGO, IL—The number of trucks in use around the world will double between 2014 and 2035, according to Navigant Research, a provider of global clean technology analysis.
Not only will there be more trucks on the road, but the worldwide sales of alternative fuel vehicles will climb to 14 percent of trucks by 2035, Navigant predicted in its newest report.
“Low fuel costs and advances in infrastructure for both liquefied natural gas and fast-fill compressed natural gas make the fuel competitive in all market segments, including heavy duty long-haul trucking," said Scott Shepard, Navigant research analyst. "Attractive business cases for medium and heavy duty alternative fuel vehicles are emerging across varying segments of the market.”
Medium and heavy-duty vehicles currently represent less than five percent of the total vehicle market, but that's changing as less expensive alternatives to petroleum-based fuels, such as natural gas, liquefied petroleum gas and electricity make inroads in the market.
“Natural gas has a significant advantage over most alternative fuels,” Shepard said.
Still, diesel will remain the primary fuel choice for trucks, the report claims, but the percentage of trucks powered by diesel is expected to fall from more than 79 percent in 2014 to 76 percent in 2035.