Compressed Natural Gas (CNG) Market By Source and Application – Global Industry Analysis And Forecast To 2025
Compressed Natural Gas (CNG) Market By Source (Unconventional Methods, Associated Gas and Non-Associated Gas) and Application (Heavy/Medium Duty Trucks, Heavy/Medium Duty Buses, Light Duty Vehicle (LDV) and Other Applications) – Global Industry Analysis And Forecast To 2025
The compressed natural gas (CNG) is a source of fuel that is produced using natural gas compressing to under 1% of the standard atmospheric volume, or is about 3,600 PSI. This gas may be utilized instead of diesel or gasoline in any vehicle having the kit of CNG conversion accessible or the engine of CNG. The utilization of the natural gas as a fuel for vehicle was first presented in later years of 1800s, with the initial patented Natural Gas Vehicle (NGV) from the US. According to recent survey the number has expanded to more than 15 million CNG vehicles over the globe. The gas is safer compared to other options of fuel, even if it spills it will disperse quickly as been lighter than air. Therefore, the Compressed Natural Gas (CNG) Market is anticipated to expand and has tremendous scope during the forecast period. The global Compressed Natural Gas (CNG) Market anticipated to flourish in the future by growing at a significantly higher CAGR.
On the basis of Source the market is further divided into Unconventional Methods, Associated Gas and Non-Associated Gas. The section non-associated gas is dominating the market owing to rising exploration of reservoirs related to unconventional & non-associated gas.
On the basis of Application the market is further divided into Heavy/Medium Duty Trucks, Heavy/Medium Duty Buses, Light Duty Vehicle (LDV) and Other Applications. The light duty vehicle (LDV) section is dominating the market owing to rising demand for vehicles running on natural gas due to rise in clean fuel automobiles, various players of market introducing CNG fuel tanks in-built in the automobiles, etc.
The Asia Pacific region is dominating the market owing to factors like; rising demand for NGVs & increases in the income for spending with the middle class in the economies like India, Malaysia, China, etc., many public transport agencies opting to CNG vehicles and other factors.
Compressed Natural Gas (CNG) Market, By Region
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and market share of the overall industry.
J-W Power Company
Indraprastha Gas Limited (IGL)
China Natural Gas Inc.
National Iranian Gas Company
Mahanagar Gas Limited (MNGL)
ANGI Energy Systems Inc.
J-W Power Company
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2025?
What will be the industry market growth from 2015 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?