Global Compressed Natural Gas (CNG) Market by Sources, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026.

The global compressed natural gas market is anticipated to expand at a CAGR of around 6.5% during the forecast period, 2020–2026.Shifting trend towards the use of renewable transportation fuels to reduce the emission of greenhouse gases is driving the market growth.

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Compressed Natural Gas (CNG) is usually used as an alternative for diesel, gasoline, and liquified petroleum gas (LPG) on account of low emission of greenhouse gases (GHG) production on combustion. It is produced by compressing natural gas to less than 1% of its volume at standard atmospheric pressure. The 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. CNG fuel systems are usually sealed and help preventing fuel losses from evaporation. It is safer than gasoline and diesel because it is non-toxic and does not contaminate ground water. The use of CNG is extremely good for the environment as it is one of the cleanest burning fuels available.

Market Trends, Drivers, Restraints, and Opportunities:

• Growing adoption of unconventional transportation fuels in order to reduce carbon footprints is a major factor driving the growth of the market.
• Increasing use of CNG in traditional internal combustion engines is propelling the market growth.
• Growing energy demands coupled with emergence of CNG as low-cost fuel is anticipated to boost the demand for CNG and thus
• Rising government initiatives and support for the development of CNG infrastructure is expected to drive the market growth.
• Rising need for decarbonizing the transportation sector coupled with adoption of CNG as transportation fuel is driving the growth of the market.
• Growing environmental concerns and increasing monetary assistance in the form of subsidies is expected to boost the demand for CNG. This, in turn, is driving the growth of the market.
• Growing adoption of eco-friendly technology for automobiles that provides better air quality and sustainability is expected to boost the demand for CNG and thus fueling the market growth.
• Initial installation costs of CNG storage tanks and fluctuation in oil and gas prices that can be used a substitute for natural gas has been restraining the market growth.

Competitive Landscape:

Key players operating in the global compressed natural gas market are Indraprastha Gas Limited (IGL), National Iranian Gas Company, Mahanagar Gas Limited (MNGL), J-W Power Company, OAO Gazprom, Trillium CNG, GNVert, ANGI Energy Systems Inc., NeoGas Inc., Chevron, ExxonMobil, NIOPDC, Royal Dutch Shell, China Natural Gas Inc., and J-W Power Company.

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The global compressed natural gas market has been segmented on the basis of

Sources

• Associated Gas
• Non-associated Gas
• Unconventional Methods

Applications

• Light Duty Vehicles
• Medium/Heavy Duty Buses
• Medium/Heavy Duty Trucks

Regions

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• Latin America

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Table of Contents

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Compressed Natural Gas (CNG) Market Overview
5. Global Compressed Natural Gas (CNG) Market Analysis and Forecast by Type
6. Global Compressed Natural Gas (CNG) Market Analysis and Forecast by Application
7. Global Compressed Natural Gas (CNG) Market Analysis and Forecast by Sales Channel
8. Global Compressed Natural Gas (CNG) Market Analysis and Forecast by Region
9. North America Compressed Natural Gas (CNG) Market Analysis and Forecast
10. Latin America Compressed Natural Gas (CNG) Market Analysis and Forecast
11. Europe Compressed Natural Gas (CNG) Market Analysis and Forecast
12. Asia Pacific Compressed Natural Gas (CNG) Market Analysis and Forecast
13. Middle East & Africa Compressed Natural Gas (CNG) Market Analysis and Forecast
14. Competition Landscape

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