Navigant: almost 39,300 natural gas refueling stations worldwide by 2026

The total number of natural gas refueling stations globally will reach almost 39,300 locations by 2026, according to a new report from Navigant Research.

Since late 2014, the production of crude oil has outpaced demand, triggering a sustained collapse in world oil prices, which have remained mostly below $50 per barrel. As a result, these low prices have put pressure on the market for natural gas vehicles (NGVs) and the corresponding refueling infrastructure.

Despite the decline in oil prices, stricter emissions and fuel economy regulations mean that NG remains a very attractive alternative to gasoline and diesel in many regions and vehicle applications where electrification is not a practical alternative. While slowing growth in China is having an impact on vehicle sales, the number of NG refueling stations globally is still projected to swell at a 4.4% compound annual growth rate during the next decade.

—Sam Abuelsamid, senior research analyst with Navigant Research

Several market drivers continue to make natural gas an appealing proposition in the next decade, especially for larger trucks and buses, where electrification is not as practical, and natural gas operation can reduce the costs associated with diesel emissions after-treatment.

According to the report, tightening emissions regulations, particularly for diesel engines, are also expected to push fleets toward natural gas conversions, with refueling infrastructure to follow.