Yahoo Finance Global CNG Dispenser Market Size to grow by 2030 | CAGR of 7.6%; Spherical Insights & Consulting
The Global CNG Dispenser Market Size was estimated at USD 146.1 Mn in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 7.6% from 2021 to 2030. Companies Covered: Bennett (US), Fortive (US), Sanki (China), Parker (US), Compac (New Zealand), Tatsuno (Japan), Dover (US), Censtar (China), FTI (Canada), Kraus (Canada), Scheidt & Bachmann (Germany), Tulsa (India), Lanfeng (China), Ebara Corporation and Others.
New York, USA, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The Global CNG Dispenser Market Size was estimated at USD 146.1 Mn in 2021 and is anticipated to grow at a compound annual growth rate CAGR of 7.6% from 2021 to 2030. as per the latest research report by Spherical Insights & Consulting.
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The fundamental goal of several governments and global organizations such as the United Nations is sustainable development. Traditional energy sources contribute to pollution and contribute to global warming. Alternative energy sources are critical to achieving long-term energy goals. For the automotive sector, compressed natural gas (CNG) is one of the most promising alternatives to traditional fuel energy resources.
Most of the world's leading market companies are engaged in advanced research and development operations to discover new techniques for extracting and processing natural gas for use in the automobile sector. This is propelling the market for CNG dispensers. Leakage issues are a major impediment to the growth of the CNG dispenser’s market. A minor leak can sometimes result in a catastrophic fire. Even if CNG dispensers are commercially viable, technology will not determine the energy future.
The expansion of CNG stations around the world is likely to drive the global CNG dispensers’ market over the forecast period. There were roughly 32000 natural gas stations in the world in 2019 for around 27 million natural gas vehicles (NGV). More than 80% of the total natural gas stations were CNG, with the remainder being liquefied natural gas (LNG). As a result, the increased number of CNG stations around the world is likely to enhance the CNG dispenser market.
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During the projection period, Asia Pacific is witnessed to be the fastest CAGR market. Countries such as China and India are seeing an increase in the number of natural gas vehicles and refuelling facilities. Furthermore, countries such as Australia, Japan, and South Korea have many natural gas vehicles, which are projected to drive the Asia Pacific CNG dispenser market throughout the forecast period. The easy shift to biofuels is the key factor impeding the growth of the CNG dispenser market. Major market players are investing in biofuel manufacture, making the switch from liquid fuels to biofuels easier than with natural gas, limiting the expansion of natural gas automobiles.
Browse key industry insights spread across 230 pages with 124 market data tables and figures & charts from the report “Global CNG Dispenser Market Size, Share & Trends Analysis Report Market by Type (Fast Fill and Time Fill), Flow Rate (Up to 15, Up to 50, and Up to 100 Kg/Min), Distribution (Company Owned & Company Run, Company Owned & Dealer Run, and Dealer Owned & Dealer Run), By Region (APAC, North America), And Segment Forecasts, 2021 – 2030”, in detail along with the table of contents
https://www.sphericalinsights.com/reports/cng-dispenser-market-
Key Companies & Recent Developments
Some prominent players in the global CNG dispenser market include WEH GmbH, Kraus Global Ltd., FTI International Group Inc., Tatsuno Europe a.s., Wayne Fueling Systems, Gilbarco Veeder-Root, Tokheim, Parker, Tulsa Gas Technologies, Nirmal Industrial Controls Pvt Ltd (NICPL), Hitachi Automotive Systems Measurement, Ltd., Compac Industries, Allport, Greka Engineering, Fornovo Gas Srl, and Bennett Pump Company.
CNG Dispenser Market: Segmentation
By Type
Fast fill
Time fill
By Flow rate
Up to 15 kg/min
Up to 50 kg/min
Up to 100 kg/min
By Distribution
Company owned & company run
Company owned & dealer run
Dealer owned & dealer run
By Region
The Asia Pacific
Europe
North America
South America
Middle East & Africa
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