- Compressed natural gas (CNG) emits less greenhouse gases on burning. Thus, it is utilized for transportation as a replacement to diesel, gasoline, and liquefied petroleum gas. Conventional internal combustion engines find wide CNG usage and add market profits. The compressed natural gas (CNG) market is estimated to witness upwards trends in view of energy demands and CNG being a cost-effective option.
For Market Research Report on “Compressed Natural Gas (CNG) Market” Visit -http://www.grandviewresearch.com/industry-analysis/compressed-natural-gas-cng-market
Exploration activities in relation to shell gas & other non-conventional energy sources, especially in North America, have reduced CNG prices globally. Governmental policies due to ecological concerns are projected to cause considerable market impact in the forecast period. Prices and placement of CNG reservoir tanks in vehicles and limited loading stations may act as a restraint for market players.
Research investments in engines with dual fuel technology by dominating automobile makers could open new avenues for the compressed natural gas (CNG) market. The market is trifurcated into sources, applications, and geographies. Major sources are extraction of non-associated gases, associated gases, and unconventional gases.
Non-associated gases are a dominating source of CNG production. Rising exploration of non-associated and unconventional gases is estimated to steer the market in the six years ahead. Associated gases captured the second biggest share in terms of production. They would experience moderate expansion in the future due to availability of wet gases.
The compressed natural gas (CNG) market, with respect to applications, is split into heavy/light duty buses, light duty vehicles, and heavy/light duty trucks. More than half of the market is dominated by light duty vehicles. Light duty vehicles will experience maximum growth in the forecast period.
This would occur due to production of natural gas vehicles and demand for hygienic fuels in automobiles. The market, with regards to geographies, is sliced on the basis of Asia Pacific, Europe, and Central & South America. Asia Pacific was the dominating CNG consumer in 2013.
Regional nations like India, China, Indonesia, and Malaysia are projected to display higher expansion in the future. Central & South America will undergo utmost expansion during the forecast period. The worldwide compressed natural gas (CNG) market is hugely segmented due to players in different geographical regions.
Information Source: Grand View Research
To request a sample copy of this report, please complete the form below.
To purchase a copy of this report, please contact at
28 2nd Street, Suite 3036
San Francisco, CA 94105
Toll Free: 1-888-202-9519