Compressed Natural Gas Market s projected to grow at a CAGR of 14.1% from 2017 to 2023 | National Iranian Gas Company , Indraprastha Gas Limited , Trillium CNG , Gazprom , NEOgas , Trillium CNG

Compressed natural gas (CNG) is produced by compressing natural gas to less than one percent of the volume and is stored in cylinders at a pressure of 2025 MPa. CNG is used in internal combustion engine of automobiles modified for gasoline/diesel, which further propel its market growth. Global consumption of CNG is dependent upon the number of CNG powered natural gas vehicles in operation. The global compressed natural gas market was valued at $14,842 million in 2016, and is projected to reach at $36,035 million by 2023, growing at a CAGR of 14.1% from 2017 to 2023.

The demand for CNG as low-cost fuel coupled with growth in energy requirement is expected to drive the market growth. CNG cost is low as compared to other traditional fuels such as gasoline and diesel, however, produces equivalent energy on combustion. Moreover, exploration of shale gas (sedimentary rocks containing amounts of natural gas) in North America and other non-conventional sources of energy particularly in this region has deliberately lowered CNG prices. Furthermore, stringent government regulations on account of environmental concern is expected to have a significant effect on the global CNG market during the forecast period.

Key market players profiled in this report include:
National Iranian Gas Company , Indraprastha Gas Limited , Trillium CNG , Gazprom , NEOgas , Trillium CNG , China Natural Gas , Pakistan State Oil , J-W Power Company , GNVert

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Increase in monetary assistance among Asia-Pacific and LAMEA in the form of subsidies and rise in awareness to curb pollution also help promote its use in automobiles. Furthermore, initiatives taken by the governments to convert gasoline-based public transport to CNG is another factor that boosts the market growth. However, installation and costs of CNG storage tanks in automobiles and limited number of CNG filling stations restrain the market growth.

The global compressed natural gas (CNG) market is segmented based on source, end user, and geography. On the basis of source, the market is divided into associated gas, non-associated gas, and unconventional sources. By end user, it is classified into light duty vehicles, medium duty/heavy duty buses, and medium duty/heavy duty trucks. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Fundamentals of Table of Content:

1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered

2 Global Growth Trends
2.1 Compressed Natural Gas Market Size
2.2 Compressed Natural Gas Growth Trends by Regions
2.3 Industry Trends

3 Market Share by Key Players
3.1 Compressed Natural Gas Market Size by Manufacturers
3.2 Compressed Natural Gas Key Players Head office and Area Served
3.3 Key Players Compressed Natural Gas Product/Solution/Service
3.4 Date of Enter into Compressed Natural Gas Market
3.5 Mergers & Acquisitions, Expansion Plans

4 Breakdown Data by Product
4.1 Global Compressed Natural Gas Sales by Product
4.2 Global Compressed Natural Gas Revenue by Product
4.3 Compressed Natural Gas Price by Product

5 Breakdown Data by End User
5.1 Overview
5.2 Global Compressed Natural Gas Breakdown Data by End User

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In the last section of the report, the global Compressed Natural Gas market additionally provides a detailed survey of the key competitors and the leading players in the market, based on the various objectives of an organization such as overview, profiling, product portfolio, the quantity of production, upstream raw material, downstream demand analysis, and the financial status of the organization. These key players have adopted the regional expansion, mergers & acquisitions, product portfolio expansion, partnerships, and collaborations as their key strategies to enhance their infiltration in the Global Compressed Natural Gas Market.

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Posted by on Friday July 12 2019, 12:15 AM EDT. All trademarks acknowledged. Filed under Clean Energy, Energy & Natural Resources, Energy Efficiency, Energy Storage, Environment. Comments and Trackbacks closed. Follow responses: RSS 2.0

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