Compressed Natural Gas Market is estimated to Progress at a CAGR of 12.3% during the Forecast Period, notes TMR Study

The latest research study released by Transparency Market Research on "𝐂𝐨𝐦𝐩𝐫𝐞𝐬𝐬𝐞𝐝 𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐆𝐚𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟏 ″ research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the Compressed Natural Gas industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.

Compressed Natural Gas market is estimated to attain a valuation of US$ 465.52 Bn by the end of 2031, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 12.3% during the forecast period, 2021-2031

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭-https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1072

The increasing prices of transportation fuels such as gasoline and diesel is responsible for the rising demand for low cost, low emissive compressed natural gas. This factor is expected to propel the global compressed natural gas market. In order to minimize carbon emissions across the globe, governments of developing countries are taking initiatives to promote the compressed natural gas or CNG. In addition, incentive-based polices are also being introduced for the rapid adoption of CNG. Rising population, urbanization, growth of the automobile industry, and increasing awareness about carbon emission are some of the factors driving the Asia Pacific compressed natural gas market. However, high initial investment, increase in prices of CNG storage tanks, and limited number of fueling stations are some of the major factors hampering the growth of the global market.

𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐂𝐨𝐦𝐩𝐫𝐞𝐬𝐬𝐞𝐝 𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐆𝐚𝐬 𝐚𝐬 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐅𝐮𝐞𝐥

The rise in the number of CNG powered natural gas vehicles is a major growth driver for the global compressed natural gas market. Compressed natural gas or CNG is obtained through compression of natural gas to less than one percent of the volume it usually occupies at normal environmental conditions. CNG is popularly used as a clean transportation fuel in light duty and heavy-duty vehicles across the globe. The growing applications of CNG is due to lower emissions as compared to gasoline and diesel.

The adoption of CNG as automobile fuel is more likely to create value-grab opportunities for the market players operating on the global compresses natural gas market during the forecast period. The global consumption of CNG directly depends on the number of CNG-powered natural gas vehicles in operation.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐛𝐞𝐟𝐨𝐫𝐞 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞 - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=1072

𝐂𝐨𝐦𝐩𝐫𝐞𝐬𝐬𝐞𝐝 𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐆𝐚𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

Compressed natural gas (CNG) is obtained through compression of natural gas to less than 1% of the volume it generally occupies at normal atmospheric conditions. Globally, CNG is used primarily as a clean transportation fuel with significantly lower emissions compared to either gasoline or diesel. Of late, the adoption of CNG as the preferred choice of automobile fuel has increased significantly.

Global consumption of CNG directly depends upon the number of CNG powered natural gas vehicles in operation. CNG powered natural gas vehicles can be broadly segmented into light duty (LD) vehicles, medium duty/heavy duty (MD/HD) buses, medium duty/heavy duty (MD/HD) trucks, and others.

The others segment comprises three-wheeler CNG powered vehicles such as autos and tuk-tuks. These are generally prevalent in Asia Pacific and Latin America. Increase in the number of each of these vehicle segments is likely to determine the growth in CNG consumption in the near future.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

National Iranian Gas Company, Indraprastha Gas Ltd, OAO Gazprom

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 -

𝐒𝐨𝐮𝐫𝐜𝐞

Associated Gas
Non-associated Gas
Unconventional Methods

𝐄𝐧𝐝-𝐮𝐬𝐞𝐫

LD Vehicles
MD / HD Buses
MD / HD Trucks
Others

𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐓𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=1072

𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐥𝐞𝐭𝐬 𝐲𝐨𝐮 𝐢𝐝𝐞𝐧𝐭𝐢𝐟𝐲 𝐭𝐡𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐂𝐨𝐦𝐩𝐫𝐞𝐬𝐬𝐞𝐝 𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐆𝐚𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐛𝐲 𝐦𝐞𝐚𝐧𝐬 𝐨𝐟 𝐚 𝐫𝐞𝐠𝐢𝐨𝐧:

North America (the United States, Canada, and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
South America (Brazil etc.) The Middle East and Africa (North Africa and GCC Countries)

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -

𝐀𝐧𝐢𝐦𝐚𝐥 𝐅𝐞𝐞𝐝 𝐀𝐝𝐝𝐢𝐭𝐢𝐯𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/08/09/2495176/0/en/Animal-Feed-Additives-Market-is-Estimated-to-Progress-at-a-CAGR-of-5-2-during-the-Forecast-Period-notes-TMR-Study.html

𝐄𝐧𝐝𝐨𝐜𝐫𝐢𝐧𝐞 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/08/09/2495093/0/en/Endocrine-Testing-Market-is-Estimated-to-Progress-at-a-CAGR-of-6-4-during-the-Forecast-Period-notes-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

Nikhil Sawlani

Transparency Market Research Inc.

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