Global CNG Compressor Market Analysis
The global CNG compressor market is expected to exhibit a CAGR of 5%
over the forecast period from 2018 to 2023, according to the latest research
report from Market Research Future (MRFR). The global CNG compressor market is
mainly driven by the growing number of vehicles running on CNG and the growing
demand for CNG transportation through pipelines.
The growing number of vehicles running on CNG is the major driver for
the global CNG compressor market and is likely to remain the market’s most
important driver over the forecast period from 2018 to 2023. The global CNG
compressor market is mainly driven by the growing awareness about the multifold
benefits of CNG in fueling applications, as it provides cleaner combustion than
petrol or diesel and can be extracted at cheaper rates than either. A growing
number of fleet operators are turning to CNG as an alternative to petrol or
diesel, as running fleets on CNG is much cheaper over the long run and also
more environmentally viable. The growing demand for long-distance road
transportation and the growing cold chain industry are likely to be the major
drivers for the global CNG compressor market over the forecast period.
Competitive Analysis:
Leading players in the global CNG compressor market include GE Oil &
Gas, Gas Compressor Consultants Inc., C&B Pumps and Compressors LLC,
Associated Compressor Engineers, Elliott Company, Kobelco Compressors America
Inc., CIMC Enric, Wartsila, Bauer Compressors Inc., J-W Energy Company, P C
McKenzie Company, Atlas Copco, and Ariel Corporation.
Segmentation:
The global CNG compressor market is segmented on the basis of type,
application, and region.
By type, the global CNG compressor market is segmented into dynamic,
positive displacement.
By application, the global CNG compressor market is segmented into
industrial, transportation, and residential. The transportation sector accounts
for the largest share in the global CNG compressors market and is likely to
remain the leading revenue generator over the forecast period due to the
growing demand for fleet vehicles running on CNG.
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Report at: https://www.marketresearchfuture.com/reports/cng-compressor-market-1376
Regional Analysis:
Asia Pacific dominates the global CNG compressors market at present and
is likely to remain the leading regional market over the forecast period due to
the growing awareness about the benefits of natural gas in countries in Asia
Pacific and the growing government support for large-scale establishment of CNG
infrastructure. The growing transportation industry in Asia Pacific is also
likely to be a major driver for the CNG compressors market over the forecast
period. The growing infrastructure construction activities and rapid
urbanization in Asia Pacific have driven the demand for long-distance
transportation of various types of materials, leading to a growing demand from
the CNG compressor market. The rapid economic rise of countries such as China,
India, South Korea, Indonesia, and Malaysia is likely to further drive the
demand for CNG compressors in the region over the forecast period.
North America and Europe also hold considerable shares in the global CNG
compressors and are likely to remain reliable, steady customers in the global
CNG compressors market due to the growing government support for initiatives
aimed at using environmentally viable fuels in the transportation sector.
About Market Research Future:
At Market Research Future (MRFR), we
enable our customers to unravel the complexity of various industries through
our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research
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https://view.joomag.com/drilling-and-completion-fluids-market/0635247001598860662
https://issuu.com/marketresearchfuture18/docs/gas_insulated_switchgear_market_n
https://view.joomag.com/gas-insulated-switchgear-market/0742951001598860852
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