CNG, short for compressed natural gas, is an alternative green fuel gotten from natural gas under pressure so that it remains odorless, clear, and non-corrosive. Beside they are also cheaper and efficient than the conventional petrol and diesel used to run vehicles. CNG is primarily comprised of methane. Just like gasoline, it produces engine power once it is combined with air and fed into the combustion chamber of the engine. CNG is compressed because in that state it can be easily stored in a vehicle so as to improve its driving range.
As the thrust grows on converting gasoline and diesel vehicles to those run on CNG, the global CNG dispenser market seems primed to rise at a healthy clip.
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Global CNG Dispenser Market: Drivers and Restraints
As discussed earlier, the CNG dispenser market is receiving a major boost from the focus on arresting vehicular pollution in cities. Governments across nations are seen providing incentives for transitioning to CNG run vehicles. Hence companies are jumping on board to provide refueling infrastructure through CNG dispenser.
Posing a challenge to the global CNG dispenser market, on the other hand, is the emergence and popularity of biofuels. Key companies operating in the green fuel segment are seen expending huge amounts on researching and producing more efficient biofuels. This transition for them is easy and less costly than the switch to CNG. Rise of battery powered electric vehicles is also threatening the future of the global CNG dispenser market.
Global CNG Dispenser Market: Trends and Opportunities
The two types of CNG dispensers in the global CNG dispenser market are time fill and fast fill. Between the two, the segment of fast fill accounts for a greater market share because CNG at fast fill stations are mainly kept in vessels at high service pressure and those help in delivering fuel much faster.
To sell products faster in the market, various stakeholders in the global CNG dispenser market are seen embarking on different ways of distribution. Those include company owned and company run, company owned and dealer run, and dealer owned and dealer run. Among them, company owned and company run distribution method is most widespread as it helps to lessen operational costs and other complicacies.
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Depending upon flow rate, the global CNG dispenser market has been classified into up to 15kg/min, up to 50kg/min, and up to 100kg/min. Among those, the segment of 100 kg/min is primed to emerge as the largest shareholder in the market in the near term. This is because they are suited perfectly for light-duty vehicles, namely pickups, vans, and sedans that need swift filling.
Global CNG Dispenser Market: Regional Analysis
Geographically, the global CNG dispenser market is spread across North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Of them, Asia Pacific is predicted to take a lead in the near term. The presence of a range of industries, namely mining, manufacturing, textiles, oil and gas, and automation is expected to have a positive impact on demand in the region. Besides, the large number of vehicles plying on the streets in China and India running on fossil-fuel powered vehicles are spelling an opportunity for the CNG dispenser market too.
Global CNG Dispenser Market: Competitive Landscape
Some of the prominent participants in the global CNG dispenser market are Bennett, Censtar, Compac, FTI, Kraus, Lanfeng, Sanki, Scheidt & Bachmann, and Tulsa. The report sheds light on their product offerings, sales and revenues, and respective market shares.
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