Global Compressed Natural Gas (CNG) Market 2024-2028
The compressed natural gas (CNG) market is forecasted to grow by USD 19.77 bn during 2023-2028, accelerating at a CAGR of 7.51% during the forecast period. The report on the compressed natural gas (CNG) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in number of CNG -powered vehicles, increase in demand for cleaner transportation fuels, and increased government support for adoption of CNG .
Technavio's compressed natural gas (CNG) market is segmented as below:
By Application
By Source
- Non associated gas
- Unconventional gas
- Associated gas
By Geographical Landscape
- APAC
- Middle East and Africa
- South America
- Europe
- North America
This study identifies the increase in supply of natural gas as one of the prime reasons driving the compressed natural gas (CNG) market growth during the next few years. Also, rising energy demand leading to improvements in CNG storage tanks and technological advances in global CNG market will lead to sizable demand in the market.
The report on the compressed natural gas (CNG) market covers the following areas:
- Compressed natural gas (CNG) market sizing
- Compressed natural gas (CNG) market forecast
- Compressed natural gas (CNG) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading compressed natural gas (CNG) market vendors that include Bharat Petroleum Corp. Ltd., BP Plc, Chevron Corp., China National Petroleum Corp., Clean Energy Fuels Corp., CNG Fuels Ltd., E.ON SE, ENGIE SA, Eni SpA, Gazprom Nedra LLC, Gujarat Gas Ltd., Maharashtra Natural Gas Ltd., ONTRAS Gastransport GmbH, OrangeGas BV., Shell plc, Snam SpA., TotalEnergies SE, Trillium Transportation Fuels LLC, VERBIO Vereinigte BioEnergie AG, and Indraprastha Gas Ltd.. Also, the compressed natural gas (CNG) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.