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Report
Asia Pacific Compressed Natural Gas (CNG) Market
Market Report I 2024-08-01 I 211 Pages I Data Bridge Market Research
The Asia-Pacific Compressed Natural Gas (CNG) market is expected to reach USD 53.13 billion by 2031 from USD 39.66 billion in 2023, growing with a substantial CAGR of 3.8% during the forecast period of 2024 to 2031.
Market Segmentation:
Asia-Pacific 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 (China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia, Hong Kong, Philippines, Singapore, New Zealand, Taiwan, and Rest of Asia-Pacific) - Industry Trends and Forecast to 2031
Overview of Asia-Pacific 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 Asia-Pacific 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
1 INTRODUCTION 38
1.1 OBJECTIVES OF THE STUDY 38
1.2 MARKET DEFINITION 38
1.3 OVERVIEW 38
1.4 LIMITATIONS 40
1.5 MARKETS COVERED 40
2 MARKET SEGMENTATION 44
2.1 MARKETS COVERED 44
2.2 GEOGRAPHICAL SCOPE 45
2.3 YEARS CONSIDERED FOR THE STUDY 46
2.4 CURRENCY AND PRICING 46
2.5 DBMR TRIPOD DATA VALIDATION MODEL 47
2.6 MULTIVARIATE MODELING 50
2.7 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 51
2.8 DBMR MARKET POSITION GRID 52
2.9 MARKET END USE COVERAGE GRID 53
2.10 DBMR VENDOR SHARE ANALYSIS 54
2.11 SECONDARY SOURCES 55
2.12 ASSUMPTIONS 56
3 EXECUTIVE SUMMARY 57
4 PREMIUM INSIGHTS 62
4.1 PORTER'S FIVE FORCES 63
4.1.1 THREAT OF NEW ENTRANTS 63
4.1.2 THREAT OF SUBSTITUTES 63
4.1.3 BARGAINING POWER OF SUPPLIERS 64
4.1.4 BARGAINING POWER OF BUYERS 64
4.1.5 COMPETITIVE RIVALRY 64
4.2 PRICE ANALYSIS 65
4.2.1 PRODUCTION COSTS 65
4.2.2 TRANSPORTATION AND DISTRIBUTION COSTS 65
4.2.3 GOVERNMENT POLICIES AND SUBSIDIES 65
4.2.4 MARKET DEMAND AND COMPETITION 65
4.3 RAW MATERIAL COVERAGE 66
4.3.1 NATURAL GAS 66
4.4 SUPPLY CHAIN ANALYSIS 67
4.4.1 OVERVIEW 67
4.4.2 LOGISTIC COST SCENARIO 67
4.5 TECHNOLOGICAL ADVANCEMENTS BY MANUFACTURERS 68
4.5.1 ENGINE OPTIMIZATION 68
4.5.2 IMPROVED STORAGE SOLUTIONS 68
4.5.3 HYBRID AND DUAL-FUEL TECHNOLOGIES 68
4.5.4 ADVANCED REFUELING INFRASTRUCTURE 69
4.6 TYPE 4 HYDROGEN VESSEL MARKET EXPANSION 70
4.7 VENDOR SELECTION CRITERIA 72
4.8 PRODUCTION CONSUMPTION ANALYSIS 74
4.9 CLIMATE CHANGE SCENARIO 75
4.9.1 ENVIRONMENTAL CONCERNS 75
4.9.2 INDUSTRY RESPONSE 75
4.9.3 GOVERNMENT'S ROLE 75
4.9.4 ANALYST'S RECOMMENDATIONS 76
4.10 COMPETITIVENESS OF TYPE 4 VESSELS COMPARED TO TYPE1 77
4.10.1 WEIGHT: 77
4.10.2 DURABILITY: 77
4.10.3 SAFETY: 77
4.10.4 OTHER CONSIDERATIONS: 77
4.11 ASIA-PACIFIC TARGET MARKET ANALYSIS 81
4.11.1 IDENTIFICATION OF KEY REGIONS FOR MARKET PENETRATION AND GROWTH 81
4.11.2 REGIONAL MARKET DYNAMICS, INCLUDING REGULATORY ENVIRONMENT AND INFRASTRUCTURE READINESS 82
4.11.3 ANALYSIS OF POTENTIAL MARKET SIZE AND GROWTH OPPORTUNITIES 82
4.12 NEED FOR TYPE 4 VESSELS IN THE CNG TANK MARKET 84
4.12.1 ANALYSIS OF CURRENT DEMAND AND POTENTIAL GROWTH FOR TYPE 4 VESSELS IN THE CNG MARKET 84
4.12.2 COMPARATIVE EVALUATION OF THE BENEFITS AND LIMITATIONS OF TYPE 4 VESSELS VERSUS OTHER TYPES, PARTICULARLY TYPE 1 85
5 REGULATION COVERAGE 88
6 MARKET OVERVIEW 90
6.1 DRIVERS 92
6.1.1 RISING ENVIRONMENTAL POLICIES AND EMISSION REDUCTION TARGETS SUPPORT THE ADOPTION OF CNG 92
6.1.2 RISING ECONOMIC BENEFITS OF USING CNG 92
6.1.3 INCREASED GOVERNMENT INCENTIVES AND SUBSIDIES PROMOTING THE USE OF CNG 93
6.2 RESTRAINTS 95
6.2.1 HIGH INITIAL COSTS ASSOCIATED WITH DEVELOPING CNG STATIONS AND INFRASTRUCTURE 95
6.2.2 LACK OF COMPREHENSIVE CNG REFUELLING INFRASTRUCTURE 95
6.3 OPPORTUNITIES 96
6.3.1 SUBSTANTIAL POTENTIAL IN CONVERTING EXISTING FLEETS OF PUBLIC AND PRIVATE TRANSPORTATION TO CNG 96
6.3.2 COLLABORATIVE EFFORTS BETWEEN COUNTRIES IN DEVELOPING CROSS-BORDER CNG INFRASTRUCTURE 97
6.4 CHALLENGES 98
6.4.1 INCREASING COMPETITION WITH ALTERNATIVE FUELS 98
6.4.2 STRICT SAFETY AND REGULATORY STANDARDS INCREASING COMPLEXITY AND COSTS 98
7 ASIA-PACIFIC COMPRESSED NATURAL GAS (CNG) MARKET, BY SOURCE 100
7.1 OVERVIEW 101
7.2 ASSOCIATED GAS 103
7.3 NON ASSOCIATED GAS 104
8 ASIA-PACIFIC COMPRESSED NATURAL GAS (CNG) MARKET, BY KITS 105
8.1 OVERVIEW 106
8.2 SEQUENTIAL 107
8.3 VENTURI 108
9 ASIA-PACIFIC COMPRESSED NATURAL GAS (CNG) MARKET, BY DISTRIBUTION TYPE 109
9.1 OVERVIEW 110
9.2 CYLINDERS/TANKS 111
9.3 ACCUMULATORS 113
9.4 COMPOSITE MANIFOLDS 113
9.5 OTHERS 114
10 ASIA-PACIFIC COMPRESSED NATURAL GAS (CNG) MARKET, BY END USE 115
10.1 OVERVIEW 116
10.2 LIGHT MOTOR VEHICLES 117
10.3 MEDIUM MOTOR VEHICLES 118
10.4 HEAVY MOTOR VEHICLES 119
11 ASIA-PACIFIC COMPRESSED NATURAL GAS (CNG) MARKET, BY COUNTRY 120
11.2 ASIA-PACIFIC 121
11.2.1 CHINA 128
11.2.2 INDIA 131
11.2.3 SOUTH KOREA 134
11.2.4 JAPAN 137
11.2.5 AUSTRALIA 140
11.2.6 INDONESIA 143
11.2.7 THAILAND 146
11.2.8 MALAYSIA 149
11.2.9 HONG KONG 152
11.2.10 PHILIPPINES 155
11.2.11 SINGAPORE 158
11.2.12 NEW ZEALAND 161
11.2.13 TAIWAN 164
11.2.14 REST OF ASIA-PACIFIC 167
12 ASIA-PACIFIC COMPRESSED NATURAL GAS (CNG) MARKET: COMPANY LANDSCAPE 168
12.1 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 168
13 SWOT ANALYSIS 169
14 COMPANY PROFILE 170
14.1 CNG 170
14.1.1 SHELL PLC 170
14.1.1.1 COMPANY SNAPSHOT 170
14.1.1.2 REVENUE ANALYSIS 171
14.1.1.3 COMPANY SHARE ANALYSIS 171
14.1.1.4 PRODUCT PORTFOLIO 171
14.1.1.5 RECENT UPDATES 172
14.1.2 CHEVRON CORPORATION 173
14.1.2.1 COMPANY SNAPSHOT 173
14.1.2.2 REVENUE ANALYSIS 173
14.1.2.3 COMPANY SHARE ANALYSIS 174
14.1.2.4 PRODUCT PORTFOLIO 174
14.1.2.5 RECENT UPDATES 174
14.1.3 TOTALENERGIES SE 175
14.1.3.1 COMPANY SNAPSHOT 175
14.1.3.2 REVENUE ANALYSIS 175
14.1.3.3 COMPANY SHARE ANALYSIS 176
14.1.3.4 PRODUCT PORTFOLIO 176
14.1.3.5 RECENT UPDATES 177
14.1.4 INDIAN OIL CORPORATION LTD 178
14.1.4.1 COMPANY SNAPSHOT 178
14.1.4.2 REVENUE ANALYSIS 178
14.1.4.3 COMPANY SHARE ANALYSIS 179
14.1.4.4 PRODUCT PORTFOLIO 179
14.1.4.5 RECENT DEVELOPMENTS 179
14.1.5 ADANI GROUP 181
14.1.5.1 COMPANY SNAPSHOT 181
14.1.5.2 REVENUE ANALYSIS 181
14.1.5.3 COMAPANY SHARE ANALYSIS 182
14.1.5.4 PRODUCT PORTFOLIO 182
14.1.5.5 RECENT DEVELOPMENTS 182
14.1.6 ENGIE 183
14.1.6.1 COMPANY SNAPSHOT 183
14.1.6.2 REVENUE ANALYSIS 183
14.1.6.3 PRODUCT PORTFOLIO 184
14.1.6.4 RECENT DEVELOPMENTS 184
14.1.7 INDRAPRASTHA GAS LIMITED 185
14.1.7.1 COMPANY SNAPSHOT 185
14.1.7.2 PRODUCT PORTFOLIO 186
14.1.7.3 RECENT DEVELOPMENT 186
14.1.8 J-W POWER COMPANY 187
14.1.8.1 COMPANY SNAPSHOT 187
14.1.8.2 PRODUCT PORTFOLIO 187
14.1.8.3 RECENT DEVELOPMENTS 187
14.1.9 KRYOGAS 188
14.1.9.1 COMPANY SNAPSHOT 188
14.1.9.2 PRODUCT PORTFOLIO 188
14.1.9.3 RECENT DEVELOPMENTS 189
14.1.10 NIS 190
14.1.10.1 COMPANY SNAPSHOT 190
14.1.10.2 REVENUE ANALYSIS 190
14.1.10.3 PRODUCT PORTFOLIO 191
14.1.10.4 RECENT DEVELOPMENTS 191
14.1.11 TRILLIUM ENERGY 193
14.1.11.1 COMPANY SNAPSHOT 193
14.1.11.2 PRODUCT PORTFOLIO 193
14.1.11.3 RECENT DEVELOPMENT 194
14.1.12 JIO-BP 195
14.1.12.1 COMPANY SNAPSHOT 195
14.1.12.2 PRODUCT PORTFOLIO 195
14.1.12.3 RECENT DEVELOPMENTS 195
14.2 HIGH-PRESSURE COMPOSITE VESSELS 196
14.2.1 HEXAGON COMPOSITES ASA 196
14.2.1.1 COMPANY SNAPSHOT 196
14.2.1.2 REVENUE ANALYSIS 196
14.2.1.3 PRODUCT PORTFOLIO 197
14.2.1.4 RECENT UPDATES 197
14.2.2 WORTHINGTON ENTERPRISES INC. 198
14.2.2.1 COMPANY SNAPSHOT 198
14.2.2.2 REVENUE ANALYSIS 198
14.2.2.3 PRODUCT PORTFOLIO 199
14.2.2.4 RECENT UPDATES 199
14.2.3 LUXFER GAS CYLINDERS 200
14.2.3.1 COMPANY SNAPSHOT 200
14.2.3.2 REVENUE ANALYSIS 200
14.2.3.3 PRODUCT PORTFOLIO 201
14.2.3.4 RECENT UPDATES 201
14.2.4 SANTEK 202
14.2.4.1 COMPANY SNAPSHOT 202
14.2.4.2 PRODUCT PORTFOLIO 202
14.2.4.3 RECENT UPDATES 202
14.2.5 HANSHO COMPOSITES 203
14.2.5.1 COMPANY SNAPSHOT 203
14.2.5.2 PRODUCT PORTFOLIO 203
14.2.5.3 RECENT UPDATES 203
14.2.6 SAINATH INDUSTRIAL CORPORATION 204
14.2.6.1 COMPANY SNAPSHOT 204
14.2.6.2 PRODUCT PORTFOLIO 204
14.2.6.3 RECENT UPDATES 204
14.2.7 PENTAIR 205
14.2.7.1 COMPANY SNAPSHOT 205
14.2.7.2 REVENUE ANALYSIS 205
14.2.7.3 PRODUCT PORTFOLIO 206
14.2.7.4 RECENT UPDATES 206
14.2.8 FABER INDUSTRIE S.P.A. 207
14.2.8.1 COMPANY SNAPSHOT 207
14.2.8.2 PRODUCT PORTFOLIO 207
14.2.8.3 RECENT DEVELOPMENT 208
15 QUESTIONNAIRE 209
16 RELATED REPORTS 211
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