Market Size of Compressed Natural Gas (CNG) Dispenser Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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CNG Dispenser Market Analysis
With increasing CNG stations across the globe, compressed Natural Gas (CNG) dispenser market is expected to grow at a CAGR of around 3.5% during the forecasting period. In 2019, there are nearly 32 thousand natural gas stations for approximately 27 million natural gas vehicles (NGV) in the world. Out of the total natural gas stations, more than 80% are of CNG, while the rest are of liquefied natural gas (LNG). The number of CNG stations across the globe has a direct impact on the CNG dispenser market. CNG dispensing units vary from stations to stations, depending upon its location of installation and type of CNG stations allocation. The driver for the market is the increasing number of CNG vehicles around the world and various government policies that are focused on having a higher number of CNG stations to stabilize and to reduce the carbon footprint from vehicles. However, lack of proper natural gas infrastructures such as pipeline inaccessibility to certain areas and rising alternate fuel sources such as batteries is expected to act as restraints for the market to grow during the forecasting period.
- With increasing carbon footprint, governments across the globe are concentrating more on greener fuels like compressed natural gas, to reduce dependency on petroleum products, to have a low energy cost, and to control the rising air pollution, with increasing vehicles. For instance, Europe is estimated to have a CAGR growth of 20% by 2030 in CNG vehicles count. Thus, factors such as supportive government initiatives, along with the rising population of vehicles across the globe to accelerate natural gas applications, are expected to create a significant opportunity for the CNG dispenser market to grow in the near future.
- The Asia Pacific is dominating the CNG dispenser market with the highest number of CNG fuel stations and CNG vehicle presence. By the end of 2018, China has nearly 10 million CNG vehicles, with 9000 fuel stations, and is expected to increase to around 20,000 by 2025.
CNG Dispenser Industry Segmentation
The compressed natural gas (CNG) dispenser market report include:
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Compressed Natural Gas (CNG) Dispenser Market Size Summary
The compressed natural gas (CNG) dispenser market is poised for growth, driven by the increasing number of CNG stations worldwide and the rising adoption of CNG vehicles. This growth is supported by government policies aimed at reducing carbon emissions and promoting greener fuels. The market is characterized by a diverse range of CNG dispensing units, tailored to the specific needs of different locations and station types. However, challenges such as inadequate natural gas infrastructure and the emergence of alternative fuel sources like batteries may hinder market expansion. Despite these challenges, the push for reduced dependency on petroleum products and lower energy costs continues to fuel interest in CNG as a viable energy solution.
The Asia-Pacific region leads the CNG dispenser market, with China and India at the forefront due to their substantial CNG vehicle populations and extensive network of fuel stations. The operational cost benefits and lower emissions of CNG vehicles compared to traditional gasoline or diesel vehicles further bolster market prospects. The growth of CNG stations, which typically require multiple dispenser units, is expected to significantly boost the dispenser market. In China, a mix of state-owned, private, and foreign companies operate the CNG station market, while in India, government entities play a dominant role. The market remains fragmented, with key players including Greka Engineering, Gilbarco Veeder Root, and others, all contributing to the competitive landscape.
Compressed Natural Gas (CNG) Dispenser Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 North America
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2.1.2 Europe
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2.1.3 Asia-Pacific
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2.1.4 South America
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2.1.5 Middle-East and Africa
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Compressed Natural Gas (CNG) Dispenser Market Size FAQs
What is the current Compressed Natural Gas (CNG) Dispenser Market size?
The Compressed Natural Gas (CNG) Dispenser Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Compressed Natural Gas (CNG) Dispenser Market?
Greka Engineering , Gilbarco Veeder Root , Tulsa Gas Technologies India Pvt. Ltd , Tatsuno Europe AS and Scheidt & Bachmann Gmbh are the major companies operating in the Compressed Natural Gas (CNG) Dispenser Market.
