JOC Staff | Dec 03, 2012 4:03PM EST
“Virtually everyone” in the trucking industry expects natural gas trucks to comprise a growing share of the Class 8 tractor market, although industry participants differ in their market share expectations, said Stifel Nicolaus Transportation, Logistics and Equipment Research Group, based on takeaways from the American Trucking Associations’ recent Natural Gas Summit in Arlington, Va.
Adoption of natural gas by heavy-duty truckers is expected to be slow. For example, Swift Transportation, referred to as the “natural gas guinea pig” at the meeting, purchased compressed natural gas equipment that was $40,000 to $50,000 more expensive than diesel equipment, although the company has realized fuel savings of $10,000 to $12,000 per year.
Large carriers are in a better position to take advantage of CNG and liquefied natural gas applications than small carriers because of these higher capital costs, Stifel Nicolaus concluded.
