Global Compressed Natural Gas (CNG) Market
The global Compressed Natural Gas (CNG) market is expected to reach USD 116.61 billion by 2031 from USD 89.09 billion in 2023, growing with a substantial CAGR of 3.8% during the forecast period of 2024 to 2031.
Global Compressed Natural Gas (CNG) Market, By Source (Associated Gas and Non-Associated Gas), Kits (Sequential and Venturi), Distribution Type (Cylinders/Tanks, Accumulators, Composite Manifolds and Others), End Use (Light Motor Vehicles, Medium Motor Vehicles, and Heavy Motor Vehicles), Countries (U.S., Canada, and Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Sweden, Switzerland, Poland, Norway, Denmark, Turkey, Finland, Rest of Europe, China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia, Hong Kong, Philippines, Singapore, New Zealand, Taiwan, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, South Africa, Egypt, Kuwait, Qatar, Oman, Bahrain, Israel, and Rest of Middle East and Africa) - Industry Trends and Forecast to 2031
Overview of Global Compressed Natural Gas (CNG) Market Dynamics:Driver
• Rising environmental policies and emission reduction targets support the adoption of CNG
Restraint
• High initial costs associated with developing CNG stations and infrastructure
Opportunity
• Substantial potential in converting existing fleets of public and private transportation to CNG
Market Players:
The key market players operating in the global Compressed Natural Gas (CNG) market are listed below:
• NIS, KryoGas
• Engie SA
• TotalEnergies SE
• Chevron Corporation
• Shell PLC, Adani Group
• J-W Power Company
• INDIAN OIL CORPORATION LIMITED
• JIO-BP
• ENGIE GROUP