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Report
Global Compressed Natural Gas (CNG) Market
Market Report I 2024-08-01 I 338 Pages I Data Bridge Market Research
The global Compressed Natural Gas (CNG) market is expected to reach USD 116.61 billion by 2031 from USD 89.09 billion in 2023, growing with a substantial CAGR of 3.8% during the forecast period of 2024 to 2031.
Market Segmentation:
Global 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 (U.S., Canada, and Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Sweden, Switzerland, Poland, Norway, Denmark, Turkey, Finland, Rest of Europe, China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia, Hong Kong, Philippines, Singapore, New Zealand, Taiwan, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, South Africa, Egypt, Kuwait, Qatar, Oman, Bahrain, Israel, and Rest of Middle East and Africa) - Industry Trends and Forecast to 2031
Overview of Global 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 global 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 40
1.1 OBJECTIVES OF THE STUDY 40
1.2 MARKET DEFINITION 40
1.3 OVERVIEW 40
1.4 LIMITATIONS 42
1.5 MARKETS COVERED 42
2 MARKET SEGMENTATION 46
2.1 MARKETS COVERED 46
2.2 GEOGRAPHICAL SCOPE 47
2.3 YEARS CONSIDERED FOR THE STUDY 48
2.4 CURRENCY AND PRICING 48
2.5 DBMR TRIPOD DATA VALIDATION MODEL 49
2.6 MULTIVARIATE MODELING 52
2.7 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 53
2.8 DBMR MARKET POSITION GRID 54
2.9 MARKET END USE COVERAGE GRID 55
2.10 DBMR VENDOR SHARE ANALYSIS 56
2.11 SECONDARY SOURCES 57
2.12 ASSUMPTIONS 58
3 EXECUTIVE SUMMARY 59
4 PREMIUM INSIGHTS 65
4.1 PORTER'S FIVE FORCES 67
4.1.1 THREAT OF NEW ENTRANTS 67
4.1.2 THREAT OF SUBSTITUTES 67
4.1.3 BARGAINING POWER OF SUPPLIERS 68
4.1.4 BARGAINING POWER OF BUYERS 68
4.1.5 COMPETITIVE RIVALRY 68
4.2 PRICE ANALYSIS 69
4.2.1 PRODUCTION COSTS 69
4.2.2 TRANSPORTATION AND DISTRIBUTION COSTS 69
4.2.3 GOVERNMENT POLICIES AND SUBSIDIES 69
4.2.4 MARKET DEMAND AND COMPETITION 69
4.3 RAW MATERIAL COVERAGE 70
4.3.1 NATURAL GAS 70
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4.4 SUPPLY CHAIN ANALYSIS 71
4.4.1 OVERVIEW 71
4.4.2 LOGISTIC COST SCENARIO 71
4.5 TECHNOLOGICAL ADVANCEMENTS BY MANUFACTURERS 72
4.5.1 ENGINE OPTIMIZATION 72
4.5.2 IMPROVED STORAGE SOLUTIONS 72
4.5.3 HYBRID AND DUAL-FUEL TECHNOLOGIES 72
4.5.4 ADVANCED REFUELING INFRASTRUCTURE 73
4.6 TYPE 4 HYDROGEN VESSEL MARKET EXPANSION 74
4.7 VENDOR SELECTION CRITERIA 76
4.8 PRODUCTION CONSUMPTION ANALYSIS 78
4.9 CLIMATE CHANGE SCENARIO 79
4.9.1 ENVIRONMENTAL CONCERNS 79
4.9.2 INDUSTRY RESPONSE 79
4.9.3 GOVERNMENT'S ROLE 79
4.9.4 ANALYST'S RECOMMENDATIONS 80
4.10 COMPETITIVENESS OF TYPE 4 VESSELS COMPARED TO TYPE1 81
4.10.1 WEIGHT: 81
4.10.2 DURABILITY: 81
4.10.3 SAFETY: 81
4.10.4 OTHER CONSIDERATIONS: 81
4.11 GLOBAL TARGET MARKET ANALYSIS 85
4.11.1 IDENTIFICATION OF KEY REGIONS FOR MARKET PENETRATION AND GROWTH 85
4.11.2 REGIONAL MARKET DYNAMICS, INCLUDING REGULATORY ENVIRONMENT AND INFRASTRUCTURE READINESS 86
4.11.3 ANALYSIS OF POTENTIAL MARKET SIZE AND GROWTH OPPORTUNITIES 86
4.12 NEED FOR TYPE 4 VESSELS IN THE CNG TANK MARKET 88
4.12.1 ANALYSIS OF CURRENT DEMAND AND POTENTIAL GROWTH FOR TYPE 4 VESSELS IN THE CNG MARKET 88
4.12.2 COMPARATIVE EVALUATION OF THE BENEFITS AND LIMITATIONS OF TYPE 4 VESSELS VERSUS OTHER TYPES, PARTICULARLY TYPE 1 89
5 REGULATION COVERAGE 92
6 MARKET OVERVIEW 94
6.1 DRIVERS 96
6.1.1 RISING ENVIRONMENTAL POLICIES AND EMISSION REDUCTION TARGETS SUPPORT THE ADOPTION OF CNG 96
6.1.2 RISING ECONOMIC BENEFITS OF USING CNG 96
6.1.3 INCREASED GOVERNMENT INCENTIVES AND SUBSIDIES PROMOTING THE USE OF CNG 97
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6.2 RESTRAINTS 99
6.2.1 HIGH INITIAL COSTS ASSOCIATED WITH DEVELOPING CNG STATIONS AND INFRASTRUCTURE 99
6.2.2 LACK OF COMPREHENSIVE CNG REFUELLING INFRASTRUCTURE 99
6.3 OPPORTUNITIES 100
6.3.1 SUBSTANTIAL POTENTIAL IN CONVERTING EXISTING FLEETS OF PUBLIC AND PRIVATE TRANSPORTATION TO CNG 100
6.3.2 COLLABORATIVE EFFORTS BETWEEN COUNTRIES IN DEVELOPING CROSS-BORDER CNG INFRASTRUCTURE 101
6.4 CHALLENGES 102
6.4.1 INCREASING COMPETITION WITH ALTERNATIVE FUELS 102
6.4.2 STRICT SAFETY AND REGULATORY STANDARDS INCREASING COMPLEXITY AND COSTS 102
7 GLOBAL COMPRESSED NATURAL GAS (CNG) MARKET, BY SOURCE 104
7.1 OVERVIEW 105
7.2 ASSOCIATED GAS 107
7.3 NON ASSOCIATED GAS 108
8 GLOBAL COMPRESSED NATURAL GAS (CNG) MARKET, BY KITS 109
8.1 OVERVIEW 110
8.2 SEQUENTIAL 111
8.3 VENTURI 112
9 GLOBAL COMPRESSED NATURAL GAS (CNG) MARKET, BY DISTRIBUTION TYPE 113
9.1 OVERVIEW 114
9.2 CYLINDERS/TANKS 115
9.3 ACCUMULATORS 117
9.4 COMPOSITE MANIFOLDS 117
9.5 OTHERS 118
10 GLOBAL COMPRESSED NATURAL GAS (CNG) MARKET, BY END USE 119
10.1 OVERVIEW 120
10.2 LIGHT MOTOR VEHICLES 121
10.3 MEDIUM MOTOR VEHICLES 122
10.4 HEAVY MOTOR VEHICLES 123
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11 GLOBAL COMPRESSED NATURAL GAS (CNG) MARKET, BY REGION 124
11.1 OVERVIEW 125
11.2 ASIA-PACIFIC 128
11.2.1 CHINA 135
11.2.2 INDIA 138
11.2.3 SOUTH KOREA 141
11.2.4 JAPAN 144
11.2.5 AUSTRALIA 147
11.2.6 INDONESIA 150
11.2.7 THAILAND 153
11.2.8 MALAYSIA 156
11.2.9 HONG KONG 159
11.2.10 PHILIPPINES 162
11.2.11 SINGAPORE 165
11.2.12 NEW ZEALAND 168
11.2.13 TAIWAN 171
11.2.14 REST OF ASIA-PACIFIC 174
11.3 EUROPE 175
11.3.1 GERMANY 183
11.3.2 ITALY 186
11.3.3 FRANCE 189
11.3.4 U.K. 192
11.3.5 RUSSIA 195
11.3.6 SPAIN 199
11.3.7 NETHERLANDS 202
11.3.8 POLAND 205
11.3.9 BELGIUM 208
11.3.10 SWITZERLAND 211
11.3.11 SWEDEN 214
11.3.12 DENMARK 217
11.3.13 NORWAY 220
11.3.14 TURKEY 223
11.3.15 FINLAND 226
11.3.16 REST OF EUROPE 229
11.4 NORTH AMERICA 230
11.4.1 U.S. 235
11.4.2 CANADA 239
11.4.3 MEXICO 242
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11.5 MIDDLE EAST AND AFRICA 245
11.5.1 U.A.E. 251
11.5.2 SAUDI ARABIA 254
11.5.3 SOUTH AFRICA 257
11.5.4 EGYPT 260
11.5.5 KUWAIT 263
11.5.6 QATAR 266
11.5.7 OMAN 269
11.5.8 BAHRAIN 272
11.5.9 ISRAEL 275
11.5.10 REST OF MIDDLE EAST AND AFRICA 278
11.6 SOUTH AMERICA 279
11.6.1 ARGENTINA 284
11.6.2 BRAZIL 288
11.6.3 REST OF SOUTH AMERICA 291
12 GLOBAL COMPRESSED NATURAL GAS (CNG) MARKET: COMPANY LANDSCAPE 292
12.1 COMPANY SHARE ANALYSIS: GLOBAL 292
12.2 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 293
12.3 COMPANY SHARE ANALYSIS: NORTH AMERICA 294
12.4 COMPANY SHARE ANALYSIS: EUROPE 295
13 SWOT ANALYSIS 296
14 COMPANY PROFILE 297
14.1 CNG 297
14.1.1 SHELL PLC 297
14.1.1.1 COMPANY SNAPSHOT 297
14.1.1.2 REVENUE ANALYSIS 298
14.1.1.3 COMPANY SHARE ANALYSIS 298
14.1.1.4 PRODUCT PORTFOLIO 298
14.1.1.5 RECENT UPDATES 299
14.1.2 CHEVRON CORPORATION 300
14.1.2.1 COMPANY SNAPSHOT 300
14.1.2.2 REVENUE ANALYSIS 300
14.1.2.3 COMPANY SHARE ANALYSIS 301
14.1.2.4 PRODUCT PORTFOLIO 301
14.1.2.5 RECENT UPDATES 301
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14.1.3 TOTALENERGIES SE 302
14.1.3.1 COMPANY SNAPSHOT 302
14.1.3.2 REVENUE ANALYSIS 302
14.1.3.3 COMPANY SHARE ANALYSIS 303
14.1.3.4 PRODUCT PORTFOLIO 303
14.1.3.5 RECENT UPDATES 304
14.1.4 INDIAN OIL CORPORATION LTD 305
14.1.4.1 COMPANY SNAPSHOT 305
14.1.4.2 REVENUE ANALYSIS 305
14.1.4.3 COMPANY SHARE ANALYSIS 306
14.1.4.4 PRODUCT PORTFOLIO 306
14.1.4.5 RECENT DEVELOPMENTS 306
14.1.5 ADANI GROUP 308
14.1.5.1 COMPANY SNAPSHOT 308
14.1.5.2 REVENUE ANALYSIS 308
14.1.5.3 COMAPANY SHARE ANALYSIS 309
14.1.5.4 PRODUCT PORTFOLIO 309
14.1.5.5 RECENT DEVELOPMENTS 309
14.1.6 ENGIE 310
14.1.6.1 COMPANY SNAPSHOT 310
14.1.6.2 REVENUE ANALYSIS 310
14.1.6.3 PRODUCT PORTFOLIO 311
14.1.6.4 RECENT DEVELOPMENTS 311
14.1.7 INDRAPRASTHA GAS LIMITED 312
14.1.7.1 COMPANY SNAPSHOT 312
14.1.7.2 PRODUCT PORTFOLIO 313
14.1.7.3 RECENT DEVELOPMENT 313
14.1.8 J-W POWER COMPANY 314
14.1.8.1 COMPANY SNAPSHOT 314
14.1.8.2 PRODUCT PORTFOLIO 314
14.1.8.3 RECENT DEVELOPMENTS 314
14.1.9 KRYOGAS 315
14.1.9.1 COMPANY SNAPSHOT 315
14.1.9.2 PRODUCT PORTFOLIO 315
14.1.9.3 RECENT DEVELOPMENTS 316
14.1.10 NIS 317
14.1.10.1 COMPANY SNAPSHOT 317
14.1.10.2 REVENUE ANALYSIS 317
14.1.10.3 PRODUCT PORTFOLIO 318
14.1.10.4 RECENT DEVELOPMENTS 318
14.1.11 TRILLIUM ENERGY 320
14.1.11.1 COMPANY SNAPSHOT 320
14.1.11.2 PRODUCT PORTFOLIO 320
14.1.11.3 RECENT DEVELOPMENT 321
14.1.12 JIO-BP 322
14.1.12.1 COMPANY SNAPSHOT 322
14.1.12.2 PRODUCT PORTFOLIO 322
14.1.12.3 RECENT DEVELOPMENTS 322
14.2 HIGH-PRESSURE COMPOSITE VESSELS 323
14.2.1 HEXAGON COMPOSITES ASA 323
14.2.1.1 COMPANY SNAPSHOT 323
14.2.1.2 REVENUE ANALYSIS 323
14.2.1.3 PRODUCT PORTFOLIO 324
14.2.1.4 RECENT UPDATES 324
14.2.2 WORTHINGTON ENTERPRISES INC. 325
14.2.2.1 COMPANY SNAPSHOT 325
14.2.2.2 REVENUE ANALYSIS 325
14.2.2.3 PRODUCT PORTFOLIO 326
14.2.2.4 RECENT UPDATES 326
14.2.3 LUXFER GAS CYLINDERS 327
14.2.3.1 COMPANY SNAPSHOT 327
14.2.3.2 REVENUE ANALYSIS 327
14.2.3.3 PRODUCT PORTFOLIO 328
14.2.3.4 RECENT UPDATES 328
14.2.4 SANTEK 329
14.2.4.1 COMPANY SNAPSHOT 329
14.2.4.2 PRODUCT PORTFOLIO 329
14.2.4.3 RECENT UPDATES 329
14.2.5 HANSHO COMPOSITES 330
14.2.5.1 COMPANY SNAPSHOT 330
14.2.5.2 PRODUCT PORTFOLIO 330
14.2.5.3 RECENT UPDATES 330
14.2.6 SAINATH INDUSTRIAL CORPORATION 331
14.2.6.1 COMPANY SNAPSHOT 331
14.2.6.2 PRODUCT PORTFOLIO 331
14.2.6.3 RECENT UPDATES 331
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14.2.7 PENTAIR 332
14.2.7.1 COMPANY SNAPSHOT 332
14.2.7.2 REVENUE ANALYSIS 332
14.2.7.3 PRODUCT PORTFOLIO 333
14.2.7.4 RECENT UPDATES 333
14.2.8 FABER INDUSTRIE S.P.A. 334
14.2.8.1 COMPANY SNAPSHOT 334
14.2.8.2 PRODUCT PORTFOLIO 334
14.2.8.3 RECENT DEVELOPMENT 335
15 QUESTIONNAIRE 336
16 RELATED REPORTS 338
14.2.7.3 PRODUCT PORTFOLIO 333
14.2.7.4 RECENT UPDATES 333
14.2.8 FABER INDUSTRIE S.P.A. 334
14.2.8.1 COMPANY SNAPSHOT 334
14.2.8.2 PRODUCT PORTFOLIO 334
14.2.8.3 RECENT DEVELOPMENT 335
15 QUESTIONNAIRE 336
16 RELATED REPORTS 338
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