The ‘Global CNG Dispenser Market Growth , Size, Share, Trends, Analysis, Key Players, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global CNG dispenser market, assessing the market on the basis of its segments like type, flow rate, ownership, and major regions.
CNG Dispenser Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 7.2%
CNG is increasingly used as fuel in the automotive sector to replace traditional fuels like gasoline, diesel, or petrol, thus accelerating the global CNG dispenser market. Since CNG is made from biomass, it is far less expensive than conventional fuels and more accessible. Many firms are working on developing more effective techniques to extract CNG. Due to their excellent oily values, low pollution, high robust heat content, and low cost, CNG usage is becoming more popular, surging the demand for CNG dispensers.
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In the upcoming years, the market for CNG dispensers is anticipated to experience significant development because to the rising refuelling infrastructure in developing nations. The rising use of CNG in emerging nations due to the higher mileage at a reduced cost has increased the need for CNG dispenser systems.
In addition to having a higher calorific value than gasoline or diesel, CNG combustion produces almost no hazardous gas emissions into the environment. Another significant reason boosting the expansion of CNG dispenser market is CNG’s eco-friendly energy and lack of carbon particle emissions. Additionally, it is anticipated that environmental awareness and a reduction in the use of harmful resources and fuel energy will support the demand for CNG, increasing the market expansion of CNG dispensers.
CNG Dispenser Industry Definition and Major Segments
CNG dispensers are special fuel dispenser units that pump and dispense compressed natural gas, also known as CNG. They are used to pump CNG directly from filling stations into compatible vehicles. CNG dispensers are equipped with counters that record how much CNG has been pumped and an approximation of the pumping cost.
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Based on type, the market is bifurcated into:
- Time Filling
- Fast Filling
On the basis of flow rate, the market is divided into:
- Up to 15 Kg/Min
- Up to 50 Kg/Min
- Up to 100 Kg/Min
Based on ownership, the market is segmented into:
- Company Owned and Company Run
- Company Owned and Dealer Run
- Dealer Owned and Dealer Run
On the basis of region, the market is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
CNG Dispenser Market Trends
Strict pollution regulations in various nations and an increase in demand for natural gas vehicles are the key trends accelerating the expansion of the global CNG dispenser market. Also, the low operating costs of natural gas-powered vehicles are anticipated to boost the market in the following years. An expansion of the infrastructure for refuelling and the introduction of natural gas vehicles by several automakers are major factors that will likely create numerous growth opportunities for the global market for CNG dispensers.
Additionally, it is anticipated that the rising popularity of CNG and the expanding refuelling infrastructure in developing nations will fuel the market throughout the forecast period. The primary reason fostering the development of the target market is the rise in the number of CNG vehicles as an alternative to conventional automobiles.
At a regional level, North America occupies a sizable share of the global CNG dispenser market due to the region’s rapidly expanding automotive sector and growing environmental pollution concerns in nations like the United States and Canada. With the increased usage of natural gas in medium and heavy-duty vehicles, CNG dispensers are being used more frequently in the automobile industry, particularly in Canada. The region’s CNG dispenser market demand is anticipated to be further fuelled by the growing consumption of CNG.
Key Market Players
The major players in the digital health market report are:
- Compac Industries
- Bennett Pump Company
- Lanfeng Technology Inc.
- Scheidt & Bachmann
- FTI Group Inc.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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