CNG dispenser market Overview:
The global CNG dispenser market was valued at USD 146.1 million in 2017 and is expected to grow at a CAGR of 7.76% in 2018 to reach USD 255.5 million by 2023. Stringent emission policies in prominent countries and rise in demand for natural gas vehicles are the major drivers that would trigger growth in the CNG dispenser market.
Objectives of the Study
- To define, describe, and forecast the global CNG dispenser market by type, distribution, flow rate, and region
- To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market with respect to individual growth trends, future prospects, and contribution of each segment to the market
- To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market rankings and core competencies
- To track and analyze competitive developments, such as contracts & agreements, new product development, mergers & acquisitions, and contracts & agreements in the CNG dispenser market
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The target audience of this report includes:
- Automotive & transportation sector
- CNG dispenser manufacturers
- CNG fuel distributors
- CNG kit manufacturers
- Manufacturers and suppliers
The major factor restraining the growth of the CNG dispenser market is easy transition to biofuels. Major players across the market are investing in biofuel manufacturing, which makes easier for the transition from liquid fuels to biofuels compared with natural gas, restraining the growth of natural gas vehicles.
Asia Pacific is expected to dominate the CNG dispenser market during the forecast period. A wide variety of industries such as manufacturing, mining, oil & gas, textiles, and automation in the region is expected to drive the CNG dispenser market in the Asia Pacific region during the forecast period.
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The fast fill segment is expected to hold the largest share of the CNG dispenser market, by type, during the forecast period.
The CNG dispenser market has been segmented, by type, into fast fill and time fill. The fast fill segment is expected to be the largest because CNG at fast fill stations is often stored in vessels at high service pressure, which helps in delivering the fuel faster.
Company owned & company run segment is the fastest growing CNG dispenser market, by distribution, during the forecast period.
The CNG dispenser market has been segmented, by distribution, into company owned & company run, company owned & dealer run, and dealer owned & dealer run. The company owned & company run segment is estimated to hold the largest share of the market during the forecast period because the operational improvement program reduces the cost and complexity in line. The primary purpose is to focus on the structure and size of the organization.
The 1–100 kg/min segment is expected to dominate the CNG dispenser market, by flow rate, in 2018.
The CNG dispenser market has been segmented, by flow rate, into up to 15 kg/min, up to 50 kg/min, and up to 100 kg/min. The up to 100 kg/min segment is estimated to hold the largest market share by 2023. This type of flow is suited for light-duty vehicles that require quick filling. For instance, vehicles such as vans, pickups, and sedans need random refueling.
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Key market players-
Some of the leading players in the CNG dispenser market include as Bennett (US), Censtar (China), Compac (New Zealand), FTI (Canada), Kraus (Canada), Lanfeng (China), Sanki (China), Scheidt & Bachmann (Germany), Tulsa (India), Tatsuno (Japan), Dover (US), Parker (US), and Fortive (US).