Global Compressed Natural Gas (CNG) Market – Industry Analysis and Forecast 2018-2026
Global Compressed Natural Gas Market was valued US$ 150.2 Bn in 2017, and expected to reach US$ 280.4 Bn by 2026, at CAGR of 8.12 % during forecast period.
Compressed natural gas (CNG) is a fuel which can be used in place of gasoline, diesel fuel and propane/LPG. The CNG is used widely in heavy duty transportation vehicles due to affordability and eco-friendliness. CNG used in the internal combustion engines that have been originally designed for gasoline and diesel that is anticipated to fuel the growth of the CNG market.
Based on the Source, CNG market is segmented into Associated Gas, Non-Associated Gas, and Unconventional Sources. Non-associated gas emerged as leading source for CNG. Associated gas is gas produced as a byproduct of the production of crude oil. Increasing use of natural gas in the automotive industry is the major factor driving the growth of the CNG market. Growth of global natural gas vehicles (NGVs) industry coupled with increased automobile fuel efficiency attributed by CNG is anticipated to remain a key driving factor for the global market.
However, lack of infrastructure and high installation cost for storage are the factors who hamper the growth of the CNG market during the forecast period.
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Asia Pacific was the leading regional CNG market and is expected to continue its dominance over the next eight years in the global market. Central & South America is expected to be the fastest growing regional market for CNG.
Government subsidiaries in form of financial incentives particularly in Asia Pacific and South America is expected to have a positive impact on the market growth.
Key players operating in the global CNG market are Exxon Mobil Corporation, BP P.L.C, Total S.A, Chevron Corporation, Eni S.p.A., Statoil ASA, ConocoPhillips Co., Cabot Oil & Gas Corporation, Southwestern Energy Company, and Chesapeake.
The report covers total market for CNG market has been analyzed based on the Porter’s five forces model. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. This gives an idea about the key drivers, such as high growth and demand in emerging economies countries.
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Scope of Compressed Natural Gas Market:
Global Compressed Natural Gas Market, by Source
• Associated Gas
• Non-Associated Gas
• Unconventional Sources
Global Compressed Natural Gas Market, by Application
• Light Duty Vehicles
• Medium/Heavy Duty Buses
• Medium/Heavy Duty Trucks
Global Compressed Natural Gas Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Compressed Natural Gas Market:
• Exxon Mobil Corporation
• BP P.L.C
• Total S.A
• Chevron Corporation
• Eni S.p.A.
• Statoil ASA
• ConocoPhillips Co.
• Cabot Oil & Gas Corporation
• Southwestern Energy Company
Browse Full Report with Facts and Figures of Compressed Natural Gas Market Report at: https://www.maximizemarketresearch.com/market-report/global-compressed-natural-gas-cng-market/22874/
MAJOR TOC OF THE REPORT
Chapter One: Compressed Natural Gas Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Compressed Natural Gas Market Competition, by Players
Chapter Four: Global Compressed Natural Gas Market Size by Regions
Chapter Five: North America Compressed Natural Gas Revenue by Countries
Chapter Six: Europe Compressed Natural Gas Revenue by Countries
Chapter Seven: Asia-Pacific Compressed Natural Gas Revenue by Countries
Chapter Eight: South America Compressed Natural Gas Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Compressed Natural Gas by Countries
Chapter Ten: Global Compressed Natural Gas Market Segment by Type
Chapter Eleven: Global Compressed Natural Gas Market Segment by Application
Chapter Twelve: Global Compressed Natural Gas Market Size Forecast (2019-2026)
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