Natural Gas Refuelling Infrastructure Market Overview
According to a research survey conducted by ChemView Consulting, the current valuation of the Global Natural Gas Refuelling Infrastructure Market is worth US$ 37,216.0 Mn in 2022. The market value of stainless steel is expected to reach US$ 58,911.0 Mn by 2032, growing at a CAGR of 4.7% over the forecast period.
Countries worldwide are focusing more on having Liquefied Natural Gas (LNG) fuel stations and Compressed Natural Gas (CNG) fuel stations as part of growth initiatives to have greener fuel. Both gas stations have various activities before providing power to vehicles and are designed to serve different cars.
The market is directly influenced by the increasing number of CNG and LNG vehicles on the road today and government regulations to reduce vehicle carbon emissions. The LNG station installation location, which is far from the LNG plant or port, and the CNG station installation site, which are both poorly connected to natural gas grid pipes, are anticipated to operate as barriers to the market’s expansion in the future.
ChemView Consulting has analyzed that the natural gas’ primary component, methane, has chemical and physical characteristics that make it suited for use in automobiles. Internal combustion engines can run quite efficiently on natural gas. The demand for natural gas as a vehicle fuel is increased by numerous advantages, including low cost, non-toxic nature, and ample domestic supply. Natural gas can be used as a fuel for transportation, giving you higher mileage and greater efficiency. Natural gas cars are a rapidly developing technology that has the potential to revolutionize both the transportation industry and the worldwide natural gas market.
Stations that sell compressed natural gas dispense the gas at a pressure of between 3000 and 3600 psi from high-pressure cylinders. The stations have several components, including the main utility unit, gas dryer, compressor, storage system, and dispensing units, which help to supply the cars with a steady and secure supply of natural gas. The compressed natural gas stations are divided into fast-fill, time-fill, and a combination of both types depending on their operation and design. Retail stations typically have fast-fill stations so they can fill vehicles faster than the others. Fleets with central refueling and the ability to fill overnight employ time-fill.
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Segments Covered in Report
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Natural Gas Refuelling Infrastructure Market
- Based on the type, CNG has consistently been in higher demand.
- Due to the contentious decision of whether to build expensive infrastructure while the number of natural gas vehicles in the regions remains relatively low or to wait for further development of vehicles before infrastructure development, Europe exhibits steady growth in the natural gas refueling market with a market share of 19.4%.
Key companies covered in the market study are Greka Engineering and Technology Limited, Gilbarco Inc., and Tulsa Gas Technologies India Pvt. Ltd, Tatsuno Europe AS, Scheidt & Bachmann Gmbh, Sanki Industry Group, Clean Energy Fuels, Cryostar SAS, FTI International Group Inc., Parker Hannifin Corp
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Report Key Highlights
- Detailed information on factors that will assist Global Natural Gas Refuelling Infrastructure’s Market growth during the next ten years
- Assessment of the historical and current Global Natural Gas Refuelling Infrastructure Market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
- The growth of the market across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
- Segment-wise, country-wise, and region-wise market analysis
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
About ChemView Consulting
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