NEW YORK, NY -- (Marketwire) -- 07/24/12 -- Natural gas prices have been in a long slump as production has grown dramatically in recent years as advances in technology have unlocked vast new reserves. The country's current glut and record low prices of the commodity have led to an increased focus on natural gas vehicles (NGVs). A recent report from Pike research shows that the global market for NGVs will grow at a steady pace over the next 7 years, and reach a total of 3.2 million vehicles sold in 2019. Five Star Equities examines the outlook for companies in the Alternative Fuels Industry and provides equity research on Fuel Systems Solutions, Inc. (NASDAQ: FSYS) and Quantum Fuel Systems Technologies (NASDAQ: QTWW).
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"While the sparse variety of available vehicle models and the slow spread of NGV refueling infrastructure remain key concerns in many countries, it's clear that the low cost of natural gas, combined with geopolitical forces, will expand the market for these vehicles," says Pike senior research analyst Dave Hurst. "Many governments have promoted the growth of NGVs, either by offering reduced taxes on the vehicles or by increasing investment in refueling infrastructure."
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Fuel Systems Solutions is a leading designer, manufacturer and supplier of proven, cost-effective alternative fuel components and systems for use in transportation and industrial applications. Fuel Systems' components and systems control the pressure and flow of gaseous alternative fuels, such as propane and natural gas, used in internal combustion engines.
Quantum Fuel Systems Technologies Worldwide is a leader in the development and production of natural gas, hybrid electric and hydrogen vehicle technologies. The company recently announced that they have received a $3.8 million purchase order from a leading global natural gas vehicle engine and systems developer.
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