NACS “Future of Fuels” Report
The newly released NACS “Future of Fuels” report offers an analysis of U.S. government projections through 2040.
NACS is the Association for Convenience and Fuel Retailing. NACS researches and writes reports for the fuel retailing market. If you’re interested in Liquid Fuels, Renewable Fuels, Non-Liquid Fuels, Natural Gas, Propane, Electricity, Hydrogen, there are details and even future pricing information included in the report. The “Future of Fuels 2014” seeks to determine how EIA’s projections will directly affect the retail fuels market, consumer use of specific types of light duty vehicles, and the pace at which alternative fuels may gain market share.
A few key highlights are:
- Gasoline will remain the dominant fuel powering light duty vehicles through 2040
- Liquid fuels — gasoline, diesel fuel and E85 — remain the overwhelmingly dominant energy sources for light duty vehicles, contributing more than 99% of total energy consumed by light duty vehicles, and they are projected to remain above 99% market share in 2040
- In the vehicle market, the share dominated by gasoline-powered vehicles will drop 14% to 79.9%; market share will increase for diesel powered and flexible fuel vehicles (capable of running on gasoline and E85), reaching 4.1% and 10.7%, respectively
- Current biofuels — ethanol and biodiesel — are forecast to increase from a 2012 supply of 13.58 billion gallons to 15.87 billion gallons in 2040. By 2040, EIA forecasts the availability of 225 million gallons of cellulosic ethanol
- Non-liquid fuel alternatives — natural gas, propane, electricity and hydrogen — will increase their total contribution to the light duty vehicle energy consumption by 125%, but still only contribute 0.7% of the energy consumed by 2040
- Electricity is projected to experience the strongest growth in the non-liquid market, increasing its share of non-liquid LDV energy from 2. 5% to 38.5%
- Hybrid vehicles are forecast to capture the greatest share of the LDV market, growing from 1.1% to 4.4%
If you have questions, contact TAIT. We’ll be happy to provide additional information and to put you in touch with NACS. Going to the PEI/NACS Show? Meet us there! TAIT will have a booth and is scheduling meeting times with our clients and potential clients now.
The Fuels Institute, founded by NACS in 2013, is a non-profit research-oriented think tank dedicated to evaluating the market issues related to consumer vehicles and the fuels that power them.Learn more about The Fuels Institute – Pursuing sustainable transportation energy solutions.
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