Reasons for Projected Growth in Natural Gas Refueling Stations

Growth in Natural Gas Refueling

Gas station fuel pump with natural gas

Vital strengthening of the natural gas infrastructure progresses as the world continues to embrace the plethora of benefits that NG fuel stations offer the trucking industry. Projections have it that up to 39,000 stations could be in operation by the year 2026. Diversification of energy sources allows both owners and operators the flexibility to prevent being bottle necked at any point in the upcoming ten years when it comes to budgeting for energy costs. Companies of all sizes could see the benefits of a transition of part to all of their fleet to being natural gas fueled.

Increased projections for natural gas fuel stations are based on several key factors. Companies want to have less exposure to the swings of worldwide oil prices. Even though prices have been hovering near of below $50 a barrel, oil speculation has been known to be very proactive in market value when it comes to out of the ordinary situations. Perceived problems have resulted in rapid rises in the price of crude and diesel fuel. Diversification of energy sources for trucking needs lessens the blow to budgets should unforeseen rises occur out of the blue.

Another crossroads that could see a potential collision for trucking companies comes in the realm of emissions. As environmental standards are tightened almost everywhere, the shift to alternative fuel sources becomes more practical. For all the momentum that electrical vehicles have for individual consumers, large scaling trucking needs are hampered by current technological limitations. The limitations of electrification for the requirements in power and effective duration hamper a transition to this energy source.

Increased diesel regulation, fuel price fluctuation, expected growth of the economy, and limitation of the current electrical driven trucks are prompting the increase of natural gas fueling stations. NG conversions to existing fleets as well as new purchases of natural gas using trucks are expected to further push the expansion of this fuel source. Natural gas is strengthening its position as a viable fuel alternative for fleets of any size in the world.

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