Compressed Natural Gas Market is expected to grow a CAGR of 12.5% upto 2025 Globally, Based on Source (Associated gas, Non-associated gas, Unconventional methods) Application and Geography.
Portland, OR -- (SBWIRE) -- 06/13/2018 -- According to several expert analysts, the global compressed natural gas (CNG) market is expected to grow at a significant rate in the period 2017–2025. Compressed natural gas is an odorless, colorless, and non-corrosive gas produced when natural gas is heavily compressed at a standard atmospheric pressure. As compared to other fuels such as petrol and diesel, compressed natural gas is much cleaner fuel and that is why government promote more about the use of compressed natural gas.
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Drivers and Restraints:
The growth of global compressed natural gas market is driven by increased interest of automobile manufactures in the development of duel fuel engines. The demand for unconventional fuels and increased number of CNG-powered vehicle has boosted the global compressed natural gas market. Furthermore, the government policies and funding supplemented the compressed natural gas market in several regions, especially in LAMEA and Asia-Pacific. However, the growth of the global compressed natural gas market is restricted due to high installation cost of CNG. Moreover, lack of infrastructure impedes the global compressed natural gas market growth.
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Key Market Players:
The key market players are analyzed in the global compressed natural gas market to understand the competitive environment the industry. The market players that are profiled in the global compressed natural gas market report are Indraprastha Gas Limited (IGL) (India), Mahanagar gas Limited (MNGL) (India), Trillium CNG (U.S.), ANGI Energy Systems Inc. (U.S.), China Natural Gas Inc. (China), National Iranian Gas Company (Iran), OAO Gazprom (Russia), GNVert (France), NeoGas Inc. (U.S.), and J-W Power Company (U.S.).
Key Takeaways from the Report:
The projections that are made in the report are based on market trends and future market potential in the period 2017–2025.
The report offers an in-depth analysis of the global compressed natural gas market along with the key dynamic factors such as drivers, restraints, and opportunities.
Extensive analysis of the global compressed natural gas market is provided by closely monitoring the key market players of the market to understand the strategies used by market players.
A comprehensive analysis of all the geographic regions is provided to understand the region-wise growth of the global compressed natural gas market.