The global CNG dispenser market is estimated to be USD 155.2 million in 2018 and is projected to reach USD 225.5 million by 2023, at a CAGR of 7.76% from 2018 to 2023.
This growth can be attributed to the rising demand for natural gas vehicles, with growing refueling infrastructure across the countries.
The CNG dispenser market has been segmented, by type, into fast fill and time fill. The fast fill segment is expected to dominate the CNG dispenser market from 2018 to 2023. Growth in natural gas fueled vehicles is one of the key reasons behind the growth of the fast fill CNG dispenser market.
The CNG dispenser market has been segmented, by distribution, into company owned & company run, company owned & dealer run, and dealer owned & dealer run. Reduction in cost and complexity in line due to operational improvement program is likely to propel the demand in the CNG dispenser market.
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 held the largest share in the CNG dispenser market in 2017 and is expected to grow at the fastest CAGR from 2018 to 2023. Light-duty vehicles require quick filling. The flow rate of the dispenser is configured on the basis of station requirements and the type of vehicles serviced.
The CNG dispenser market has been analyzed with respect to 5 regions, namely, Asia Pacific, Europe, North America, South America, and the Middle East & Africa. Asia Pacific is estimated to be the largest CNG dispenser market during the forecast period. Countries such as China and India have an increasing number of natural gas vehicles, with an increasing number of refueling stations. Moreover, countries such as Australia, Japan, and South Korea have a considerable number of natural gas vehicles, which are expected to drive the CNG dispenser market in the Asia Pacific region during the forecast period.
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.
Some of the leading players in the offshore ROV 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). Contracts & agreements was the most commonly adopted strategy by top players in the market from 2015 to July 2018. It was followed by new product developments and mergers & acquisitions.
Key Topics Covered:
1 Introduction 1.1 Objectives of The Study 1.2 Definition 1.3 Market Scope 1.4 Years Considered for The Study 1.5 Currency 1.6 Stakeholders
2 Research Methodology 2.1 Research Data 2.2 Market Size Estimation 2.3 Market Breakdown & Data Triangulation 2.4 Research Assumptions
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in The CNG Dispenser Market 4.2 CNG Dispenser Market, Application 4.3 CNG Dispenser Market, Type 4.4 CNG Dispenser Market, Flow Rate 4.5 Top 5 Potential Markets 4.6 Top 5 Markets With The Largest Market Size 4.7 Pestle for The Key Markets 4.7.1 China 4.7.2 US 4.7.3 Germany 4.7.4 India 4.7.5 Brazil
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 18.104.22.168 Stringent Emission Policies 22.214.171.124 Low Running Costs of Natural Gas Vehicles 5.2.2 Restraints 126.96.36.199 Easy Transition to Biofuels 5.2.3 Opportunities 188.8.131.52 Major Vehicle Manufacturers Bringing Natural Gas Vehicles to Market 184.108.40.206 Growing Refueling Infrastructure 5.2.4 Challenges 220.127.116.11 Increasing Production of Electric Vehicles
6 CNG Dispenser Market, By Type 6.1 Introduction 6.2 Fast Filling 6.3 Time Filling
7 CNG Dispenser Market, By Distribution 7.1 Introduction 7.2 Company Owned & Company Run 7.3 Company Owned & Dealer Run 7.4 Dealer Owned & Dealer Run
8 CNG Dispenser Market, By Flow Rate 8.1 Introduction 8.2 Up to 15 Kg/Min 8.3 Up to 50 Kg/Min 8.4 Up to 100 Kg/Min