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With a predicted CAGR of 10.2% from 2024–2031, the worldwide compressed natural gas market size is expected to increase from $9.39B in 2023 to $22.33B in 2031.
The conversion of peat to anthracite coal produces compressed natural gas (CNG), which is a combination of methane, nitrogen, trace amounts of light hydrocarbons, and carbon dioxide. With oil and coal sources dwindling and gas fuel's emission qualities being a constraint, this is crucial for the long-term health of the industrial sector. End users can tailor the performance and stability of certain CNG to meet their own needs in a wide range of applications.
Due to rising oil prices, several countries prefer CNG since it is more cost-effective. Another factor propelling market expansion during the forecast period is the increasing demand for natural gas (CNG) due to rising energy consumption in various countries. The projected period sees the compressed natural gas market growing due to a number of factors, including stricter government laws aimed at pollution control and an improvement in the financial health of numerous countries worldwide. Compressed natural gas storage tanks are expensive, and there aren't many CNG fuelling stations, which means that the market won't expand much in the near future.
A process that uses regular atmospheric pressure to reduce the volume of natural gas to less than one percent yields compressed natural gas. The increase in greenhouse gas emissions and ozone depletion was mostly caused by the increased combustion of fossil fuels. A viable alternative was needed for this, and compressed natural gas is being considered as a possible option. Compressed natural gas is now powering more and more automobiles.
The low cost and increased efficiency of compressed natural gas are two of the main reasons why many countries are starting to use it. Since compressed natural gas is both lighter and more easily dispersed than air, it also removes the risk of a spill entirely. At present, the United States is the sole nation that has utilized its shale gas reserves. With the benefits it offers and the little impact it has on the environment compared to traditional fuels, the government of many nations is encouraging and supporting the use of compressed natural gas.
As oil prices rise again, several nations are opting for compressed natural gas because of its cheap cost. Additionally, the compressed natural gas (CNG) industry is driven by the usage of non-conventional fuels like compressed natural gas, which is a result of various nations' increased energy demands. The compressed natural gas market is being driven by a number of factors, including governments' stringent pollution control legislation and the improving financial situations of numerous countries globally. Despite this, the compressed natural gas market isn't growing very fast due to factors including high initial investment prices, high installation and maintenance expenses for CNG storage tanks in vehicles, and a lack of fuelling facilities.
An expertly crafted and comprehensive research study on Compressed Natural Gas, the "Global Compressed Natural Gas Market Analysis to 2028" examines the state of the industry on a worldwide scale. The purpose of this research is to offer a synopsis of the compressed natural gas market, broken down into supply and consumption. We anticipate that the worldwide compressed natural gas market will expand at a rapid pace over the next few years. Among the many energy and power market trends and opportunities highlighted in this research are critical facts pertaining to the compressed natural gas market.
The demand for CNG was reduced by these users as a result of the temporary ban on import/export and manufacturing/processing activity across several industries caused by the COVID-19 pandemic lockdown. Furthermore, the compressed natural gas market growth was hindered during the pandemic period by the pause in constructing and construction of new infrastructures and natural gas fields due to a lack of personnel and a rise in the demand-supply imbalance. The next three quarters of 2020 saw a slowdown in the market as a result of this. Nevertheless, the CNG market sprang back in the second quarter of 2021, because to the worldwide economic improvement brought about by the start of COVID-19 immunization in several economies throughout the world.
Report Coverage
Global Compressed Natural Gas (CNG) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Compressed Natural Gas (CNG) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Compressed Natural Gas (CNG) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Compressed Natural Gas (CNG) market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Compressed Natural Gas (CNG) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Compressed Natural Gas (CNG) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
National Iranian Gas Company (Iran), Indraprastha Gas Limited – IGL (India), Shell (U.K.), J-W Power Company (U.S.), ENGIE SA(France), Exxon Mobil Corporation. (U.S.), BP p.l.c. (U.K.), TotalEnergies (France), Chevron Corporation (U.S.), Eni S.p.A. (Italy), ANGI Energy Systems, Inc. (U.S.), Greka (China), TGT Fuel Technologies India Pvt. Ltd (India) among others
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Compressed Natural Gas (CNG) market based on the below-mentioned segments:
Global Compressed Natural Gas (CNG) Market, By Source
Associated Gas
Non Associated Gas
Unconventional Sources
Global Compressed Natural Gas (CNG) Market, By End User
Light Duty Vehicles
Medium Or Heavy Duty Buses
Medium Or Heavy Duty Trucks
Global Compressed Natural Gas (CNG) market, Regional Analysis
The conversion of peat to anthracite coal produces compressed natural gas (CNG), which is a combination of methane, nitrogen, trace amounts of light hydrocarbons, and carbon dioxide. With oil and coal sources dwindling and gas fuel's emission qualities being a constraint, this is crucial for the long-term health of the industrial sector. End users can tailor the performance and stability of certain CNG to meet their own needs in a wide range of applications.
Due to rising oil prices, several countries prefer CNG since it is more cost-effective. Another factor propelling market expansion during the forecast period is the increasing demand for natural gas (CNG) due to rising energy consumption in various countries. The projected period sees the compressed natural gas market growing due to a number of factors, including stricter government laws aimed at pollution control and an improvement in the financial health of numerous countries worldwide. Compressed natural gas storage tanks are expensive, and there aren't many CNG fuelling stations, which means that the market won't expand much in the near future.
A process that uses regular atmospheric pressure to reduce the volume of natural gas to less than one percent yields compressed natural gas. The increase in greenhouse gas emissions and ozone depletion was mostly caused by the increased combustion of fossil fuels. A viable alternative was needed for this, and compressed natural gas is being considered as a possible option. Compressed natural gas is now powering more and more automobiles.
The low cost and increased efficiency of compressed natural gas are two of the main reasons why many countries are starting to use it. Since compressed natural gas is both lighter and more easily dispersed than air, it also removes the risk of a spill entirely. At present, the United States is the sole nation that has utilized its shale gas reserves. With the benefits it offers and the little impact it has on the environment compared to traditional fuels, the government of many nations is encouraging and supporting the use of compressed natural gas.
As oil prices rise again, several nations are opting for compressed natural gas because of its cheap cost. Additionally, the compressed natural gas (CNG) industry is driven by the usage of non-conventional fuels like compressed natural gas, which is a result of various nations' increased energy demands. The compressed natural gas market is being driven by a number of factors, including governments' stringent pollution control legislation and the improving financial situations of numerous countries globally. Despite this, the compressed natural gas market isn't growing very fast due to factors including high initial investment prices, high installation and maintenance expenses for CNG storage tanks in vehicles, and a lack of fuelling facilities.
An expertly crafted and comprehensive research study on Compressed Natural Gas, the "Global Compressed Natural Gas Market Analysis to 2028" examines the state of the industry on a worldwide scale. The purpose of this research is to offer a synopsis of the compressed natural gas market, broken down into supply and consumption. We anticipate that the worldwide compressed natural gas market will expand at a rapid pace over the next few years. Among the many energy and power market trends and opportunities highlighted in this research are critical facts pertaining to the compressed natural gas market.
The demand for CNG was reduced by these users as a result of the temporary ban on import/export and manufacturing/processing activity across several industries caused by the COVID-19 pandemic lockdown. Furthermore, the compressed natural gas market growth was hindered during the pandemic period by the pause in constructing and construction of new infrastructures and natural gas fields due to a lack of personnel and a rise in the demand-supply imbalance. The next three quarters of 2020 saw a slowdown in the market as a result of this. Nevertheless, the CNG market sprang back in the second quarter of 2021, because to the worldwide economic improvement brought about by the start of COVID-19 immunization in several economies throughout the world.
Report Coverage
Global Compressed Natural Gas (CNG) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Compressed Natural Gas (CNG) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Compressed Natural Gas (CNG) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Compressed Natural Gas (CNG) market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | National Iranian Gas Company (Iran), Indraprastha Gas Limited – IGL (India), Shell (U.K.), J-W Power Company (U.S.), ENGIE SA(France), Exxon Mobil Corporation. (U.S.), BP p.l.c. (U.K.), TotalEnergies (France), Chevron Corporation (U.S.), Eni S.p.A. (Italy), ANGI Energy Systems, Inc. (U.S.), Greka (China), TGT Fuel Technologies India Pvt. Ltd (India) among others |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Compressed Natural Gas (CNG) Market from 2021 to 2031.
- Market Forecast for Compressed Natural Gas (CNG) Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Compressed Natural Gas (CNG) competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Compressed Natural Gas (CNG)
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Compressed Natural Gas (CNG) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Compressed Natural Gas (CNG) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
National Iranian Gas Company (Iran), Indraprastha Gas Limited – IGL (India), Shell (U.K.), J-W Power Company (U.S.), ENGIE SA(France), Exxon Mobil Corporation. (U.S.), BP p.l.c. (U.K.), TotalEnergies (France), Chevron Corporation (U.S.), Eni S.p.A. (Italy), ANGI Energy Systems, Inc. (U.S.), Greka (China), TGT Fuel Technologies India Pvt. Ltd (India) among others
Primary Target Market
- Market Players of Compressed Natural Gas (CNG)
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Compressed Natural Gas (CNG) market based on the below-mentioned segments:
Global Compressed Natural Gas (CNG) Market, By Source
Associated Gas
Non Associated Gas
Unconventional Sources
Global Compressed Natural Gas (CNG) Market, By End User
Light Duty Vehicles
Medium Or Heavy Duty Buses
Medium Or Heavy Duty Trucks
Global Compressed Natural Gas (CNG) market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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