Insight
The threat to diesel from LNG trucking in China
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Report summary
There are growing concerns regarding China's trucking revolution, with LNG overtaking diesel. As we noticed, in the second half of 2023, the sales penetration of LNG in heavy trucks rose from below 10% to a high of nearly 30% during some months, with high penetration rates continuing in the first half of 2024. This seismic shift is driven by a dual force: policy incentives but more from the compelling economic advantages for freight operators. This insight captures the key points succinctly: 1. Surge in penetration of LNG heavy truck in China threatening diesel's market share 2. The explanation of the reason behind this LNG truck threat 3. Economic analysis of total cost of ownership for both LNG and diesel truck 4. Implication of this adoption to diesel's market share in the long run
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