Hexagon Annual Report 2019

23 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS Agility Fuel Solutions Agility was also awarded an order to supply two fuel storage systems for a new hydrogen bus model from CaetanoBus, a leading Portuguese bus manufacturer. All the relevant e-mobility activities including the hydro- gen and battery electric vehicles business in Agility were combined with existing businesses of Hexagon Purus from 1 January 2020 to form a new Hexagon Purus business area within Hexagon. COMPETITION Agility Fuel Solutions is the global market leader for CNG and RNG fuel systems and Type 4 CNG cylinders in the heavy-duty truck and transit segments. Agility is estab- lishing its position in the North American medium-duty propane and natural gas fuel systems markets as well as the medium- and heavy-duty electric and hybrid vehicle battery pack markets. Agility competes with CNG cylinder manufacturers globally, with smaller CNG system integra- tors in North America, South America and Asia, and with medium-duty engine fuel system vendors and electric vehicle systems suppliers. Agility also supplies Type 4 CNG cylinders directly to OEM’s which choose to produce fuel systems internally. OUTLOOK Agility benefits from increased focus on lower carbon emissions and cost advantages of natural gas and renew- able natural gas. The Heavy-Duty Truck segment volumes are expected to increase, driven by the strong focus on reducing emissions and stable and low natural gas prices. The Refuse Truck segment may be impacted by reduced cyclical near-term purchases by large fleet customers. Growth in the Transit Bus segment is expected to come from European markets driven by the European Clean Vehicle Directive.