Infinium Global Research added Latest Research Report titled “Compressed Natural Gas Market by Manufacturers, Regions, Product Type and Application, Forecast to 2024” to its Large Report database.

Pune, India -- (SBWire) -- 08/25/2018 --Stronger and safer than gasoline or diesel tanks reducing the possibility of accidental release to promote growth in the Compressed Natural Gas Market

Increasing use of natural gas in the automotive industry is the major factor driving the growth of the compressed natural gas market. CNG can be used in the traditional internal combustion engines that have been originally designed for gasoline and diesel that is anticipated to fuel the growth of the compressed natural gas market. In addition, increase demand for hybrid vehicle and stringent regulation on the use of commercial passenger vehicles fitted with CNG as this cause low carbon emission is boosting the growth of the compressed natural gas market. However, lack of infrastructure and high installation cost for storage are the factors likely to hamper the growth of the compressed natural gas market during the forecast period. Furthermore, increasing research and development investment on dual fuel technology by the leading automobile manufacturers are anticipated to open several doors of opportunity foe the key players in the compressed natural gas market over the years to come.

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Asia Pacific region to contribute to growth in the global Compressed Natural Gas Market

Asia Pacific is the largest consumer of compressed natural gas as transit buses and delivery & garbage truck fleets prefer CNG to fossil fuel. Europe followed by Asia pacific emerged as the second largest compressed natural gas market. Further, favorable government initiatives such as subsidies especially in key consuming economies such as China, and India are promoting the use of CNG due to its low greenhouse gases emission properties, which in turn is projected to fuel the demand for the CNG over the forecast period. On the other hand, Increasing exploration and production of conventional natural gas reserves especially in Middle East & Africa are anticipated to fuel the demand for compressed natural gas market.

Clean Energy Announced Natural Gas Fueling Commitments Across U.S.

In July 2018-Clean Energy Fuels Corp. has announced a number of expanded commitments throughout the country to compressed natural gas (CNG), liquefied natural gas (LNG) or renewable natural gas (RNG).

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Clean Energy began its relationship with the Long Island community in 2008 when it designed, built, and began operating the natural gas truck fueling station that serves Brookhaven, one of the most densely populated areas in the country, the company notes. Long-term Clean Energy customer Tidewater Fiber Corporation in Virginia has extended its maintenance service agreement. Its trucks are expected to consume 600,000 GGEs annually.

Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global compressed natural gas market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of compressed natural gas market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the compressed natural gas market  that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the compressed natural gas market  to understand the present and future trends in this market and formulate their strategies accordingly.

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