According to a recently published report by Brisk Insights, the Global Compressed Natural Gas (CNG) Market is expected to grow at the CAGR of 10.5% during 2017-2025. The global compressed natural gas (CNG) market is segmented on the basis of source, application and geography. The report on global compressed natural gas (CNG) market (by source, application and geography) provides a detailed overview and predictive analysis of the market.
Full report available on Compressed Natural Gas (CNG) Market: Global Industry Size, Growth, Share and Forecast to 2025 report at http://www.briskinsights.com/report/compressed-natural-gas-cng-market
Growing environmental concerns over the emission of greenhouse gases along with favorable government initiatives to promote the adoption of compressed natural gas as alternative fuel for gasoline and diesel is projected to drive the demand for compressed natural gas. Further, associated advantages such as improved vehicle fuel efficiency inclining consumers to adopt compressed natural gas a preferred fuel over gasoline and diesel fuel. Moreover, government initiatives such as subsidies and tax benefits on compressed natural gas vehicles is also encouraging the use of compressed natural gas over diesel and gasoline fuel. Increasing investment in key consuming economies such as China and India in developing infrastructure for the production, storage and distribution of compressed natural gas is also anticipated to augment the demand for compressed natural gas over the forecast period (2017-2025).
However, insufficient infrastructure for the storage and distribution of compressed natural gas along with dearth of supply of compressed natural gas, high cost of installation of compressed natural gas stations are restricting the access to large number of consumers. Thus, supply and distribution of compressed natural gas are projected to be the key challenges hampering the growth of compressed natural gas market over the forecast period.
Asia Pacific is estimated to be the largest market for compressed natural gas. Increasing number of natural gas vehicles along with growing adoption of natural gas as alternative fuel is projected to drive the demand for compressed natural gas over the forecast period. Key players in the market are expanding their compressed natural gas production and supply capacity to increase their market penetration especially in the key consuming economies of Asia Pacific including China and India.
Scope of the report
1. Global Compressed Natural Gas (CNG) Market, by Source, 2015–2025 ($ Billion)
1.1. Associated Gas
1.2. Non-Associated Gas
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2. Global Compressed Natural Gas (CNG) Market, by Application, 2015–2025 ($ Billion)
2.1. Light Passenger Vehicles
2.2. Medium duty/heavy duty (MD/HD) Buses
2.3. Medium duty/heavy duty (MD/HD) Trucks
2.4. Others (Autos)
3. Global Compressed Natural Gas (CNG) Market, by Geography, 2015-2025 ($ Billion)
3.1. North America
3.2.4. Rest of Europe
3.3. Asia Pacific
3.3.3. Rest of Asia Pacific
3.4. Latin America (LATAM)
3.4.3. Rest of Latin America
3.5. Middle East and Africa (MEA)
3.5.2. Rest of Middle East and Africa
4. Company Profiles
4.1. British Petroleum plc.
4.3. Exxon Mobil Corporation
4.4. Royal Dutch Shell plc.
4.5. Total SA
4.6. China National Petroleum Corporation
4.8. Eni SpA
4.11. Reliance Industries Ltd. (RIL)
4.12. Other Major Players
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