Market Size of Compressed Natural Gas (CNG) Dispenser Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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CNG Dispenser Market Analysis
With increasing CNG stations across the globe, compressed Natural Gas (CNG) dispenser market is expected to grow at a CAGR of around 3.5% during the forecasting period. In 2019, there are nearly 32 thousand natural gas stations for approximately 27 million natural gas vehicles (NGV) in the world. Out of the total natural gas stations, more than 80% are of CNG, while the rest are of liquefied natural gas (LNG). The number of CNG stations across the globe has a direct impact on the CNG dispenser market. CNG dispensing units vary from stations to stations, depending upon its location of installation and type of CNG stations allocation. The driver for the market is the increasing number of CNG vehicles around the world and various government policies that are focused on having a higher number of CNG stations to stabilize and to reduce the carbon footprint from vehicles. However, lack of proper natural gas infrastructures such as pipeline inaccessibility to certain areas and rising alternate fuel sources such as batteries is expected to act as restraints for the market to grow during the forecasting period.
- With increasing carbon footprint, governments across the globe are concentrating more on greener fuels like compressed natural gas, to reduce dependency on petroleum products, to have a low energy cost, and to control the rising air pollution, with increasing vehicles. For instance, Europe is estimated to have a CAGR growth of 20% by 2030 in CNG vehicles count. Thus, factors such as supportive government initiatives, along with the rising population of vehicles across the globe to accelerate natural gas applications, are expected to create a significant opportunity for the CNG dispenser market to grow in the near future.
- The Asia Pacific is dominating the CNG dispenser market with the highest number of CNG fuel stations and CNG vehicle presence. By the end of 2018, China has nearly 10 million CNG vehicles, with 9000 fuel stations, and is expected to increase to around 20,000 by 2025.
