Compressed Natural Gas (CNG) Market, By Source, By Application and By Geography- Growth, Future Prospects and Competitive Analysis, 2017 – 2025, the global compressed natural gas (CNG) market was valued at US$ 76.3 Bn in 2017, and is expected to each US$ 315.9 Bn by 2025, expanding at a CAGR of 10.5% from 2017 to 2025.
Global compressed natural gas (CNG) market is projected to witness high growth over the forecast period. Increasing adoption of CNG as alternative fuel to gasoline and diesel due to increasing fuel efficiency of the vehicles is projected to encourage the use of CNG as vehicle fuel. Further, favorable government initiatives such as subsidies especially in key consuming economies of Asia Pacific such as China, and India to promote the use of CNG due to its low greenhouse gases emission properties is projected to fuel the demand for the CNG over the forecast period. Increasing investment in infrastructure to increase the penetration of CNG as a vehicle fuel is also expected to augment the growth of the segment. This in turn is projected to drive the demand for CNG over the forecast period. However, lack of infrastructure and high installation cost for the storage and supply of CNG is expected to remain the key challenge for the global compressed natural gas (CNG) market during the forecast period (2016-2024).
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Asia Pacific is projected to be the key consuming market in global compressed natural gas (CNG) market. Increasing number of natural gas based automobile coupled increasing investment in infrastructure for CNG storage and distribution facilities in the region is projected to augment the demand for CNG in the region. Further, favorable regulatory support to promote CNG as the alternative auto fuel due to its low greenhouse emission characteristics is anticipated to fuel the demand of CNG in the region. The region is also projected to witness highest growth over the forecast period (2016-2024).
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1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.5. Approach Adopted
2. Executive Summary
2.1. Global Compressed Natural Gas (CNG) Market Snapshot
2.1.1. Global Compressed Natural Gas (CNG) Market by Source, 2015
2.1.2. Global Compressed Natural Gas (CNG) Market by Application, 2015
2.1.3. Global Compressed Natural Gas (CNG) Market by Geography, 2015
2.1.4. Market Drivers, Challenges and Trends
3. Global Compressed Natural Gas (CNG) Market Dynamics
3.1. Market Overview
3.2. Value Chain Analysis
3.5. Future Prospects
3.6. Impact Analysis of Drivers and Challenges
3.7. Porter’s Five Force Analysis
3.7.1. Bargaining Power Of Suppliers
3.7.2. Bargaining Power Of Buyers
3.7.3. Threat Of Substitutes
3.7.4. Threat Of New Entrants
3.7.5. Industry Rivalry
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