Natural Gas Refueling Infrastructure Market Size (2024 - 2029)

The natural gas refueling infrastructure market is anticipated to experience growth driven by the increasing adoption of Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) vehicles, supported by government policies aimed at reducing carbon emissions. The market's expansion is influenced by the global shift towards cleaner fuels, with a significant focus on developing CNG and LNG fuel stations. Despite challenges such as the connectivity of CNG stations to natural gas grid pipelines and the distance of LNG stations from plants or terminals, the market is poised for growth due to rising government initiatives and the dominance of the Asia Pacific region in terms of fuel station presence.

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Market Size of Natural Gas Refueling Infrastructure Industry

Natural Gas Refueling Infrastructure Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 3.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Natural Gas Refueling Infrastructure Market Major Players

*Disclaimer: Major Players sorted in no particular order

Natural Gas Refueling Infrastructure Market Analysis

Natural gas refueling infrastructure market is expected to grow at an approximate CAGR of around 3.5% during the forecasting period. With rising initiatives to have cleaner fuel, countries across the globe are concentrating more on having Compressed Natural Gas (CNG) fuel stations and Liquefied Natural Gas (LNG) fuel stations. Both the fuel station target different sets of vehicles and have a different set of operations before dispensing the fuels to vehicles. The market is directly driven by the growing population of CNG & LNG vehicles around the world and various government policies that are focused on having a lesser carbon emission from vehicles. However, the CNG station installation site not well connected to natural gas grid pipelines, and the LNG station installation site, which is far from the LNG plant or terminal, is expected to act as restraints for the market to grow in future. Moreover, the involvement of particular storage units like high-pressure cylinders and cryogenic cylinders require considerably higher installation costs than gasoline stations.

  • Compressed Natural Gas (CNG) is expected to have a higher market share, in 2019, with around 85% market share than the liquefied natural gas.
  • With increasing carbon footprint, government across the globe is concentrating more on greener fuels like natural gas, to reduce dependency on petroleum products, to have a low energy cost, and to control the rising air pollution. The rising government initiatives across the globe to accelerate natural gas applications are expected to create an opportunity for the refueling infrastructure to grow in the future.
  • The Asia Pacific is dominating the natural gas refueling infrastructure market with the majority of fuel stations presence. The region has nearly 60% of the total natural gas refueling station around the globe.

Natural Gas Refueling Infrastructure Industry Segmentation

The natural gas refueling infrastructure market report include:

Type of Natural Gas
Compressed Natural Gas (CNG)
Liquefied Natural Gas (LNG)
Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Natural Gas Refueling Infrastructure Market Size Summary

The natural gas refueling infrastructure market is poised for growth, driven by the increasing adoption of Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) vehicles worldwide. This growth is supported by global initiatives aimed at reducing carbon emissions and promoting cleaner fuel alternatives. CNG stations, which dominate the market, are designed to dispense natural gas stored in high-pressure cylinders and are equipped with various units to ensure a safe and continuous supply. Despite the advantages, challenges such as the lack of connectivity to natural gas grid pipelines for CNG stations and the high installation costs associated with LNG stations pose constraints to market expansion. However, the push for greener fuels and reduced dependency on petroleum products continues to create opportunities for the development of natural gas refueling infrastructure.

The Asia-Pacific region leads the global natural gas refueling infrastructure market, hosting a significant number of fuel stations, primarily CNG, due to the region's substantial population of natural gas vehicles. Countries like China and India are at the forefront of this growth, with initiatives aimed at lowering vehicle emissions. While CNG stations are well-established, LNG stations in the region are still in the early stages of development compared to Europe. Key players in the market include major companies such as China Natural Gas Inc., China Petroleum & Chemical Corporation, and Clean Energy Fuels, among others. The market remains moderately consolidated, with several key operators driving the expansion of natural gas refueling infrastructure globally.

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Natural Gas Refueling Infrastructure Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Natural Gas Refueling Infrastructure Market in USD billion, till 2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type of Natural Gas

      1. 2.1.1 Compressed Natural Gas (CNG)

      2. 2.1.2 Liquefied Natural Gas (LNG)

    2. 2.2 Geography

      1. 2.2.1 North America

      2. 2.2.2 Europe

      3. 2.2.3 Asia-Pacific

      4. 2.2.4 South America

      5. 2.2.5 Middle-East and Africa

Natural Gas Refueling Infrastructure Market Size FAQs

The Natural Gas Refueling Infrastructure Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)

Greka Engineering and Technology Limited, Gilbarco Inc., Tulsa Gas Technologies India Pvt. Ltd , Clean Energy Fuels and Cryostar SAS are the major companies operating in the Natural Gas Refueling Infrastructure Market.

Natural Gas Refueling Infrastructure Market Report Snapshots

Natural Gas Refueling Infrastructure Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)