Compressed Natural Gas Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The compressed natural gas (CNG) is used extensively in heavy duty transportation vehicles due to affordability and eco-friendliness. With the increase in the environmental factors such as climatic changes and depleting ozone layer many nations across the globe have started using CNG in power production. Due to its eco-friendly nature, improved performance advantages, and reduced maintained cost of the engine, CNG has increased popularity in the market. Government subsidiaries in form of financial incentives mainly in Asia Pacific and South America is probable to have a positive impact on the market growth.
MARKET DYNAMICS
Due to recovering oil prices, the low-cost of compressed natural gas is preferred in many countries. Also, the increase in energy requirement by several nations leads to the use of non-conventional fuel such as compressed natural gas, which drives the compressed natural gas (CNG) market. Also, strict government regulations in pollution control and rise in the financial health of many countries around the world fuels the compressed natural gas market. Though, the initial investment cost is too high, installation and costs of CNG storage tanks in automobiles is expensive and limited number of fueling stations hinders the growth of the compressed natural gas market.
MARKET SCOPE
The "Global Compressed Natural Gas Market Analysis to 2028" is a specialized and in-depth study of Compressed Natural Gas with a special focus on the global market trend analysis. The report aims to provide an overview of Compressed Natural Gas with detailed market segmentation by source, and end user. The global Compressed Natural Gas Market is expected to witness high growth during the forecast period. The report provides key statistics on the Compressed Natural Gas Market and offers key trends and opportunities in energy and power market.
MARKET SEGMENTATION
The Compressed Natural Gas Market is segmented on the basis of source, and end user. On the basis of source, market is segmented as associated gas, non-associated gas, and unconventional sources. On the basis of end user is segmented as light duty vehicles, medium duty/heavy duty buses, and medium duty/heavy duty trucks.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Compressed Natural Gas market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The global Compressed Natural Gas market by each region is later sub-segmented by respective countries and segments.
The report analyzes factors affecting Compressed Natural Gas market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological effecting the Compressed Natural Gas market in these regions.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Compressed Natural Gas market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The global Compressed Natural Gas market by each region is later sub-segmented by respective countries and segments.
The report analyzes factors affecting Compressed Natural Gas market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological effecting the Compressed Natural Gas market in these regions.
MARKET PLAYERS
The reports cover key developments in the Compressed Natural Gas market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Compressed Natural Gas market are anticipated to lucrative growth opportunities in the future with the rising demand for Compressed Natural Gas in the global market. Below mentioned is the list of few companies engaged in the Compressed Natural Gas market.
The report also includes the profiles of Compressed Natural Gas market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- CHINA NATURAL GAS INC.
- GAZPROM
- GNVERT
- INDRAPRASTHA GAS LIMITED
- J-W POWER COMPANY
- NATIONAL IRANIAN GAS COMPANY
- NEOGAS INC.
- PAKISTAN STATE OIL
- ROYAL DUTCH SHELL
- TRILLIUM CNG
The Insight Partners dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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Country Scope
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1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Compressed Natural Gas Market - By Source
1.3.2 Compressed Natural Gas Market - By End User
1.3.3 Compressed Natural Gas Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. COMPRESSED NATURAL GAS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. COMPRESSED NATURAL GAS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. COMPRESSED NATURAL GAS MARKET - GLOBAL MARKET ANALYSIS
6.1. COMPRESSED NATURAL GAS - GLOBAL MARKET OVERVIEW
6.2. COMPRESSED NATURAL GAS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. COMPRESSED NATURAL GAS MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
7.1. OVERVIEW
7.2. SOURCE MARKET FORECASTS AND ANALYSIS
7.3. ASSOCIATED GAS
7.3.1. Overview
7.3.2. Associated Gas Market Forecast and Analysis
7.4. NON-ASSOCIATED GAS
7.4.1. Overview
7.4.2. Non-Associated Gas Market Forecast and Analysis
7.5. UNCONVENTIONAL SOURCES
7.5.1. Overview
7.5.2. Unconventional Sources Market Forecast and Analysis
8. COMPRESSED NATURAL GAS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. LIGHT DUTY VEHICLES
8.3.1. Overview
8.3.2. Light Duty Vehicles Market Forecast and Analysis
8.4. MEDIUM DUTY/HEAVY DUTY BUSES
8.4.1. Overview
8.4.2. Medium Duty/Heavy Duty Buses Market Forecast and Analysis
8.5. MEDIUM DUTY/HEAVY DUTY TRUCKS
8.5.1. Overview
8.5.2. Medium Duty/Heavy Duty Trucks Market Forecast and Analysis
9. COMPRESSED NATURAL GAS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Compressed Natural Gas Market Overview
9.1.2 North America Compressed Natural Gas Market Forecasts and Analysis
9.1.3 North America Compressed Natural Gas Market Forecasts and Analysis - By Source
9.1.4 North America Compressed Natural Gas Market Forecasts and Analysis - By End User
9.1.5 North America Compressed Natural Gas Market Forecasts and Analysis - By Countries
9.1.5.1 United States Compressed Natural Gas Market
9.1.5.1.1 United States Compressed Natural Gas Market by Source
9.1.5.1.2 United States Compressed Natural Gas Market by End User
9.1.5.2 Canada Compressed Natural Gas Market
9.1.5.2.1 Canada Compressed Natural Gas Market by Source
9.1.5.2.2 Canada Compressed Natural Gas Market by End User
9.1.5.3 Mexico Compressed Natural Gas Market
9.1.5.3.1 Mexico Compressed Natural Gas Market by Source
9.1.5.3.2 Mexico Compressed Natural Gas Market by End User
9.2. EUROPE
9.2.1 Europe Compressed Natural Gas Market Overview
9.2.2 Europe Compressed Natural Gas Market Forecasts and Analysis
9.2.3 Europe Compressed Natural Gas Market Forecasts and Analysis - By Source
9.2.4 Europe Compressed Natural Gas Market Forecasts and Analysis - By End User
9.2.5 Europe Compressed Natural Gas Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Compressed Natural Gas Market
9.2.5.1.1 Germany Compressed Natural Gas Market by Source
9.2.5.1.2 Germany Compressed Natural Gas Market by End User
9.2.5.2 France Compressed Natural Gas Market
9.2.5.2.1 France Compressed Natural Gas Market by Source
9.2.5.2.2 France Compressed Natural Gas Market by End User
9.2.5.3 Italy Compressed Natural Gas Market
9.2.5.3.1 Italy Compressed Natural Gas Market by Source
9.2.5.3.2 Italy Compressed Natural Gas Market by End User
9.2.5.4 Spain Compressed Natural Gas Market
9.2.5.4.1 Spain Compressed Natural Gas Market by Source
9.2.5.4.2 Spain Compressed Natural Gas Market by End User
9.2.5.5 United Kingdom Compressed Natural Gas Market
9.2.5.5.1 United Kingdom Compressed Natural Gas Market by Source
9.2.5.5.2 United Kingdom Compressed Natural Gas Market by End User
9.2.5.6 Rest of Europe Compressed Natural Gas Market
9.2.5.6.1 Rest of Europe Compressed Natural Gas Market by Source
9.2.5.6.2 Rest of Europe Compressed Natural Gas Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Compressed Natural Gas Market Overview
9.3.2 Asia-Pacific Compressed Natural Gas Market Forecasts and Analysis
9.3.3 Asia-Pacific Compressed Natural Gas Market Forecasts and Analysis - By Source
9.3.4 Asia-Pacific Compressed Natural Gas Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Compressed Natural Gas Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Compressed Natural Gas Market
9.3.5.1.1 Australia Compressed Natural Gas Market by Source
9.3.5.1.2 Australia Compressed Natural Gas Market by End User
9.3.5.2 China Compressed Natural Gas Market
9.3.5.2.1 China Compressed Natural Gas Market by Source
9.3.5.2.2 China Compressed Natural Gas Market by End User
9.3.5.3 India Compressed Natural Gas Market
9.3.5.3.1 India Compressed Natural Gas Market by Source
9.3.5.3.2 India Compressed Natural Gas Market by End User
9.3.5.4 Japan Compressed Natural Gas Market
9.3.5.4.1 Japan Compressed Natural Gas Market by Source
9.3.5.4.2 Japan Compressed Natural Gas Market by End User
9.3.5.5 South Korea Compressed Natural Gas Market
9.3.5.5.1 South Korea Compressed Natural Gas Market by Source
9.3.5.5.2 South Korea Compressed Natural Gas Market by End User
9.3.5.6 Rest of Asia-Pacific Compressed Natural Gas Market
9.3.5.6.1 Rest of Asia-Pacific Compressed Natural Gas Market by Source
9.3.5.6.2 Rest of Asia-Pacific Compressed Natural Gas Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Compressed Natural Gas Market Overview
9.4.2 Middle East and Africa Compressed Natural Gas Market Forecasts and Analysis
9.4.3 Middle East and Africa Compressed Natural Gas Market Forecasts and Analysis - By Source
9.4.4 Middle East and Africa Compressed Natural Gas Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Compressed Natural Gas Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Compressed Natural Gas Market
9.4.5.1.1 South Africa Compressed Natural Gas Market by Source
9.4.5.1.2 South Africa Compressed Natural Gas Market by End User
9.4.5.2 Saudi Arabia Compressed Natural Gas Market
9.4.5.2.1 Saudi Arabia Compressed Natural Gas Market by Source
9.4.5.2.2 Saudi Arabia Compressed Natural Gas Market by End User
9.4.5.3 U.A.E Compressed Natural Gas Market
9.4.5.3.1 U.A.E Compressed Natural Gas Market by Source
9.4.5.3.2 U.A.E Compressed Natural Gas Market by End User
9.4.5.4 Rest of Middle East and Africa Compressed Natural Gas Market
9.4.5.4.1 Rest of Middle East and Africa Compressed Natural Gas Market by Source
9.4.5.4.2 Rest of Middle East and Africa Compressed Natural Gas Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Compressed Natural Gas Market Overview
9.5.2 South and Central America Compressed Natural Gas Market Forecasts and Analysis
9.5.3 South and Central America Compressed Natural Gas Market Forecasts and Analysis - By Source
9.5.4 South and Central America Compressed Natural Gas Market Forecasts and Analysis - By End User
9.5.5 South and Central America Compressed Natural Gas Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Compressed Natural Gas Market
9.5.5.1.1 Brazil Compressed Natural Gas Market by Source
9.5.5.1.2 Brazil Compressed Natural Gas Market by End User
9.5.5.2 Argentina Compressed Natural Gas Market
9.5.5.2.1 Argentina Compressed Natural Gas Market by Source
9.5.5.2.2 Argentina Compressed Natural Gas Market by End User
9.5.5.3 Rest of South and Central America Compressed Natural Gas Market
9.5.5.3.1 Rest of South and Central America Compressed Natural Gas Market by Source
9.5.5.3.2 Rest of South and Central America Compressed Natural Gas Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. COMPRESSED NATURAL GAS MARKET, KEY COMPANY PROFILES
11.1. CHINA NATURAL GAS INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. GAZPROM
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. GNVERT
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. INDRAPRASTHA GAS LIMITED
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. J-W POWER COMPANY
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NATIONAL IRANIAN GAS COMPANY
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NEOGAS INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. PAKISTAN STATE OIL
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ROYAL DUTCH SHELL
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TRILLIUM CNG
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. CHINA NATURAL GAS INC.
2. GAZPROM
3. GNVERT
4. INDRAPRASTHA GAS LIMITED
5. J-W POWER COMPANY
6. NATIONAL IRANIAN GAS COMPANY
7. NEOGAS INC.
8. PAKISTAN STATE OIL
9. ROYAL DUTCH SHELL
10. TRILLIUM CNG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.