Green technology ripe for market growth
TORONTO -- As global emission regulations tighten in an effort to combat climate change and fossil fuel reliance, the market for emission and idling reduction technologies for commercial trucks will experience considerable growth, analysis from Frost & Sullivan have observed. This is the conclusion of Frost & Sullivan's report, "Strategic Analysis of Emission and Idling Reduction Technologies for EPA 2010 and Idling Regulations Compliance." "Stricter environmental regulations, growing generic competition and spiraling R&D costs have caused the North American heavy-duty truck industry to pay closer attention to the impending emission and idling reduction regulations," notes Frost & Sullivan Program Manager Sandeep Kar. The implementation of emissions regulations will prompt market participants to offer the most feasible and pertinent emission reduction solutions at attractive price-points. At the same time, rising concerns about fuel efficiency, foreign oil dependency, air quality, global warming and noise pollution will continue to spur more regulations as well as demand for emission reduction technologies. Regulators and public interest groups scrutinize heavy trucks due to their immense weight, large dimensions, power requirements, emissions and the valuable goods they haul. The current regulatory environment related to emission reduction offers companies an opportunity to create new revenue streams by developing innovative solutions. However, the high up-front and lifecycle costs of most emission reduction solutions represent major marketing challenges for developers, Frost & Sullivan notes. Several major fleet operators have opted to wait until the technology matures before making decisions regarding emission reduction technologies, in some cases postponing equipment purchases. The report notes the importance of developing "standardized technology platforms that can spawn innovative and cost-effective emission reduction solutions." -- via Truckinginfo.com