According to a recent report from Navigant Research, worldwide sales of light-duty natural gas vehicles (NGVs) will grow from 2.5 million annually in 2014 to 4.2 million in 2023.

As a result, the total number of NGVs on roads worldwide will approximately double to nearly 40 million in the next 10 years, accounting for 2.6% of all vehicles on the roads.

Overall, the worldwide market for LD NGVs is expected to grow at a compound annual growth rate (CAGR) of 5.7% between 2014 and 2023, with the number of passenger car sales growing at a slightly slower rate (5.5% CAGR) than light trucks (6.3% CAGR).

North America is likely to remain a comparatively small market with 138,177 vehicle sales in 2023, according to the forecast. This region seems likely to remain focused on the fleet markets, whereas larger markets have strong consumer markets. In the end, the number of LD NGVs is expected to grow 106.7% between 2014 and 2023 (culminating in 39.8 million NGVs on the world’s roads),

Asia Pacific is anticipated to remain the largest market, with 1.9 million LD NGVs sales in 2023.

Like all internal combustion engine vehicles, NGVs are undergoing technical change. In particular, the introduction of direct injection natural gas (DING) promises to increase fuel economy and reduce emissions, according to the report.

The direct injection of natural gas has been a challenge in the past, due to poor ignition characteristics and challenges managing natural gas in the combustion cylinder, but automakers in Europe are planning to launch vehicles using the technology beginning in 2014. The benefits of DING include reduced fuel usage and emissions.