DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/tjlw8c/lpg_vehicle) has announced the addition of the "LPG Vehicle Market in Europe 2011-2015" report to their offering.
One of the key factors contributing to this market growth is the increasing gasoline and diesel prices. The LPG Vehicle market in Europe has also been witnessing technological advancements in OEM and conversion LPG vehicles. However, competitive pressure from alternative fuels could pose the biggest challenge to the growth of this market.
Key vendors dominating this market space include Fiat S.p.A., Ford Motor Co., General Motors Co., and Peugeot Citroen S.A.
Other vendors mentioned in the report are Renault Nissan, Hyundai Motor Co., and Volkswagen AG.
Commenting on the report, an analyst from TechNavio's Automotive team said: ''The liquefied petroleum gas (LPG) Vehicle market in Europe is expected to witness the emergence of new technologies. Many original equipment manufacturers (OEMs) are developing new LPG vehicle platforms so as to accommodate the fuel tank in such a way that it does not intrude into either the passenger cabin or the storage space in the trunk, which is a major drawback with alternative fuel vehicles. Furthermore, the suppliers of LPG conversion kits are busy developing new technologies to get the best out of converted vehicles both in terms of emissions and efficiency. Some of the new technologies such as lighter and tougher composite fuel tanks and LPG direct injection systems, which deliver efficiency and performance as good as or even better than gasoline systems without any power deficit, are expected to be the market standard in the near future.''
According to the report, the volatility in the Oil and Gas industry has been a major growth driver for the LPG Vehicle market in Europe. The increasing prices of gasoline and diesel have affected economies across Europe, forcing them to develop other solutions. LPG provides a solution to the increasing prices and the falling reserves of oil and gas. In addition, OEMs can offer lower emission vehicles, thereby reducing the average emissions of the overall range of vehicles. The majority of developing countries in Europe such as Russia, Turkey, and Poland have benefited from these developments because these countries have a significant number of LPG fueling stations.
Further, the report discusses that the lack of awareness regarding LPG vehicles among consumers has negatively affected the market.
For more information visit http://www.researchandmarkets.com/research/tjlw8c/lpg_vehicle