The global Compressed Natural Gas market was valued at US$ 40270 million in 2020 and it is expected to reach US$ 61490 million by the end of 2027, growing at a CAGR of 5.8% during 2021-2027.
Compressed natural gas (CNG) (methane stored at high pressure) is a fuel which can be used in place of gasoline , diesel fuel and propane/LPG. CNG combustion produces fewer undesirable gases than the fuels mentioned above. It is safer than other fuels in the event of a spill, because natural gas is lighter than air and disperses quickly when released. Biomethane – cleaned up biogas from anaerobic digestion or landfills – can be used.
In recent years, the share of natural gas in the global energy mix has drastically increased. The compressed natural gas (CNG) is used widely in heavy duty transportation vehicles due to affordability and eco-friendliness. With the rise in the environmental issues such as climatic changes and depleting ozone layer many nations across the globe have started using CNG in power production.
Global Compressed Natural Gas Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Compressed Natural Gas Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are National Iranian Gas Company, Indraprastha Gas Limited, Royal Dutch Shell PLC, Gazprom, NEOgas, Trillium CNG, China Natural Gas, Pakistan State Oil, J-W Power Company, GNVert, Exxon Mobil Corporation, BP P.L.C, Total S.A, Chevron Corporation, Eni S.p.A., Equinor, ConocoPhillips Co., Cabot Oil & Gas Corporation, Southwestern Energy Company, Chesapeake and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Segment by Type
- Associated Gas
- Non-Associated Gas
- Unconventional Sources (CNG)
Segment by Application
- Light Duty Vehicles
- Medium Duty/Heavy Duty Buses
- Medium Duty/Heavy Duty Trucks
Table of Content:
1 Compressed Natural Gas Market Overview
2 Market Competition by Manufacturers
3 Production and Capacity by Region
4 Global Compressed Natural Gas Consumption by Region
5 Production, Revenue, Price Trend by Type
6 Consumption Analysis by Application
7 Key Companies Profiled
8 Compressed Natural Gas Manufacturing Cost Analysis
9 Marketing Channel, Distributors and Customers
10 Market Dynamics
11 Production and Supply Forecast
12 Consumption and Demand Forecast
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta