Global CNG Dispenser Market Analysis
According to the report by Market Research Future (MRFR), the global CNG dispenser market is poised to acquire a substantial market valuation at a moderate 7.70% CAGR over the review period. The global CNG dispenser market is touted to witness high growth during the forecast period owing to the lesser running cost of natural gas vehicles. Moreover, driven by the operative improvement program for light-duty vehicles has caused cost decrease, and complexity in line is anticipated to fuel the growth of the CNG dispenser market over the review period.
Segmental Analysis
The global market for CNG dispenser has been segmented on the basis of type, distribution, and flow rate.
The types of CNG dispensers available in the market are fast filling and time filling. The distribution method of CNG dispensers includes company-owned & company-run, company-owned & dealer-run, and dealer-owned & dealer-run. The company-owned & company-run segment is estimated to account for the largest share owing to the increased profitability.
Based on the flow rate, the global CNG dispenser market has been segmented into up to 50 kg/min, up to 15 kg/min, and up to 100 kg/min. The up to 100 kg/min segment is predicted to lead the market share over the review period, and record the highest growth rate, owing to the requirement of light-duty vehicles for quick tank refills. Moreover, owing to the operational improvement program for light-duty vehicles has resulted in cost reduction, and complexity in line is expected to fuel the growth of the CNG dispenser market.
Regional Analysis
On the basis of region, the global CNG dispenser market has been segmented into the Europe, Asia Pacific, North America, ,and the rest of the world (RoW).
North America is one of the major regional markets in the global CNG dispenser markets across the globe and is likely to witness remarkable growth over the review period. This is attributed to the government measures being undertaken for curbing emission levels in the region, especially in developed countries such as Canada, and the U.S., which established automotive markets.
Asia Pacific is one of the most important regional markets for CNG dispensers is expected to record a significant market share during the forecast period. Extensive diversity of industry verticals, including manufacturing, mining, oil & gas, textiles, and automation in the region, is projected to drive the CNG Dispenser Market Size in the Asia Pacific region. Asia Pacific is presently the primary market for CNG dispensers, followed by Europe. Increasing demand in the CNG vehicle is one of the significant critical drivers in the CNG dispenser market in this region. The primer of strict emission norms in India to restrict pollution is one of the chief drivers for market growth. India is one of the significant country-wise contributors across the globe, for the global CNG vehicles market with nearly about 60,000-70,000 units of CNG vehicles, which turns to drive increasing demand for CNG dispenser.
Competitive Landscape
The major market players identified by MRFR in the global CNG dispenser market are Bennett (US), Censtar (China), Dover (US), FTI International (Canada), Fortive (US), Compac (US), Kraus (US), Lanfeng (China), Sanki (China), Parker (US), Scheidt & Bachmann (US), Tatsuno (Japan), Tulsa Gas Technologies (India), WEH (Germany).
No comments:
Post a Comment