Global Natural Gas Refuelling Infrastructure Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Natural Gas Refuelling Infrastructure Market was worth US$ 37,216.0 Mn and is expected to grow at a CAGR of 4.7% over the forecast period. While the historical CAGR is 3.9%, the market is expected to hit US$ 58,911.0 Mn by 2032 end.
Countries worldwide are focusing more on having Liquefied Natural Gas (LNG) fuel stations and Compressed Natural Gas (CNG) fuel stations as part of growth initiatives to have greener fuel. Both gas stations have various activities before providing power to vehicles and are designed to serve different cars.
The market is directly influenced by the increasing number of CNG and LNG vehicles on the road today and different government regulations to reduce vehicle carbon emissions. The LNG station installation location, which is far from the LNG plant or port, and the CNG station installation site, which are both poorly connected to natural gas grid pipes, are anticipated to operate as barriers to the market’s expansion in the future.
METHANE, THE MAJOR COMPONENT OF NATURAL GAS MAKES IT SUITABLE FOR VEHICLES
Natural gas’ primary component, methane, has chemical and physical characteristics that make it suited for use in automobiles. Internal combustion engines can run quite efficiently on natural gas. The demand for natural gas as a vehicle fuel is increased by numerous advantages, including low cost, non-toxic nature, and ample domestic supply.
Natural gas can be used as a fuel for transportation, giving you higher mileage and greater efficiency. Natural gas cars are a rapidly developing technology that has the potential to revolutionize both the transportation industry and the worldwide natural gas market.
Market Segments Covered in Report
By Region and Country:
Why it is expected that CNG will dominate the market during the forecast period?
Stations that sell compressed natural gas dispense the gas at a pressure of between 3000 and 3600 psi from high-pressure cylinders. The stations have several components, including the main utility unit, gas dryer, compressor, storage system, and dispensing units, which help to supply the cars with a steady and secure supply of natural gas.
The compressed natural gas stations are divided into fast-fill, time-fill, and a combination of both types depending on their operation and design. Retail stations typically have fast-fill stations so they can fill vehicles faster than the others. Fleets with central refueling and the ability to fill overnight employ time-fill.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
To grow their market share, major global Natural Gas Refuelling Infrastructure companies concentrate on selling their goods through reliable channels.
A list of some of the key suppliers present in the market are:
Global Zinc Air Batteries Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.7%.
Methane is the major component of natural gas and has chemical and physical properties, making it suitable for vehicles.
Key Global Natural Gas Refuelling Infrastructure Market players are Greka Engineering and Technology Limited, Gilbarco Inc., Tulsa Gas Technologies India Pvt. Ltd, Tatsuno Europe AS, Scheidt & Bachmann Gmbh, Sanki Industry Group, Clean Energy Fuels, Cryostar SAS, FTI International Group Inc., Parker Hannifin Corp
Europe is expected to account for the largest market revenue share in the Global Natural Gas Refuelling Infrastructure Market.
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