The Compressed Natural Gas Global Market Report 2023, provides comprehensive information on the compressed natural gas market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032
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The compressed natural gas (CNG) market on a global scale is projected to witness substantial growth, expanding from $147.16 billion in 2022 to $166.90 billion in 2023, representing an impressive Compound Annual Growth Rate (CAGR) of 13.4%. However, the ongoing Russia-Ukraine conflict has introduced short-term hurdles to the global economic recovery from the COVID-19 pandemic. This geopolitical tension has triggered economic sanctions, a surge in commodity prices, and disruptions in supply chains, resulting in inflationary pressures affecting various sectors worldwide. Despite these challenges, the global compressed natural gas market is expected to reach $269.99 billion by 2027, driven by a CAGR of 12.8%.
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Product innovations are significantly shaping the compressed natural gas (CNG) market, with major industry players leveraging innovative strategies to fortify their market standing. Notably, in December 2020, Noble Gas Systems, a renowned US-based storage tank manufacturer, unveiled the Conformable Compressed Gas Storage System. This groundbreaking system facilitates the creation of a secure, pliable, and lightweight compressed gas storage and delivery mechanism within vehicles. Capable of accommodating various compressed gases such as natural gas, air, oxygen, hydrogen, and nitrogen, the Noble Gas high-pressure storage and distribution system features a polymer-lined tank, woven reinforcement, and a protective outer shell
The compressed natural gas market is segmented:
1) By Type: Non-Associated Gas, Associated Gas, Unconventional Sources
2) By Product Type: Dedicated Fuel, Bi-Fuel, Dual Fuel
3) By Application: Light Passenger Vehicles, Medium or Heavy Duty Vehicles, Other Applications
Asia-Pacific was the largest region in the compressed natural gas market in 2022.
Top 5 Major Key Players Are:
Chevron Corporation
Shell Plc
J-W Power Company
The Phillips 66 Company
Trillium Energy
Table Of Contents
1. Executive Summary
2. Compressed Natural Gas Market Characteristics
3. Compressed Natural Gas Market Trends And Strategies
4. Compressed Natural Gas Market – Macro Economic Scenario
5. Compressed Natural Gas Market Size And Growth
……
26. Africa Compressed Natural Gas Market
27. Compressed Natural Gas Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Compressed Natural Gas Market
29. Compressed Natural Gas Market Future Outlook and Potential Analysis
30. Appendix
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