Farmington, March 13, 2023 (GLOBE NEWSWIRE) -- The Global CNG Compressor Market Size is Expected to Reach USD 5,072.6 Million By 2030, at a CAGR Of 5.0% During The Forecast Period. A CNG compressor is a machine that makes natural gas more compact and ready to be transported. It makes the amount of fuel 600 times bigger than it was before. By compressing gas, transportation costs go down, pollution is kept in check, and greenhouse gas emissions go down. CNG compressors are used to squeeze CNG, which is a mixture of methane and other things. These compressors were made to be as efficient, reliable, and long-lasting as possible in a variety of settings, such as pipeline transport, gas stations, and storage.
Request Sample Copy of Report “CNG Compressors Market Size, Share & Trends Estimation Report By Type (Oil Injected, Oil Free), By Compressor (Dynamic Compressor, Positive Displacement Compressor, Piston Compressor, Rotary Screw Compressor, Others), By End User (Construction, Oil & Gas, Mining, Chemicals, Power Generation, Others), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Market Dynamics:
Drivers:
Natural gas is becoming more popular as a fuel because it burns cleanly and costs less than other fossil fuels. Because of this, the market for CNG has grown, making more people want to buy CNG compressors.
Government programmes that encourage the use of CNG: Governments all over the world are encouraging the use of CNG as a way to cut down on greenhouse gas emissions and improve the quality of the air. Because of this, good policies and rules have been put in place, which is expected to help the CNG compressors market grow.
Compressed natural gas (CNG) cars are becoming more popular because they are cheaper to run and cause less pollution. Because of this, the infrastructure for refuelling CNG vehicles has grown, which is driving the demand for CNG compressors.
Restraints & Challenges:
High initial investment: CNG compressors cost a lot of money to install, which may make some people decide not to buy them.
Limited natural gas infrastructure: The growth of the CNG market depends on the availability of pipelines, refuelling stations, and storage facilities. If there isn't enough of this kind of infrastructure, the growth of the market could be slowed down.
Natural gas is becoming more and more at risk from other fuels. Natural gas is a clean and inexpensive fuel, but electric and hydrogen are also becoming more popular. This could make people in the market for alternative fuels compete with each other for market share.
Regional Outlook:
Because natural gas is used so much as an alternative fuel for cars, trucks, and generators in North America, it had the largest share of the global CNG compressor market. This is a big reason why the region's demand for compressed natural gas (CNG) is going up, which is helping to fuel the growth of compressor systems used in many industries, such as chemical storage facilities.
The demand for compressed natural gas in places like Europe, Germany, and Italy is growing, which is a key factor in the growth of this market around the world. Aside from this, more people are becoming aware of how the use of fossil fuels in different industries harms the environment. This has led to a rise in the use of clean energy sources like natural gas and is expected to drive growth over the forecast period.
Asia-Pacific has a large share of the global CNG compressor market's revenue. This is because automakers are investing more money in the region to improve emission standards for vehicles.
The demand for CNG in places like the UAE and Saudi Arabia is growing, which is a key factor in the growth of this market around the world. Aside from this, more investment in the auto industry in different parts of the world is also expected to increase demand during the forecast period.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 5.0% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 5,072.6 Million |
| By Type | Oil Injected, Oil Free, Others |
| By Compressor | Dynamic Compressor, Positive Displacement Compressor, Piston Compressor, Rotary Screw Compressor, Others |
| By End User | Construction, Oil & Gas, Mining, Chemicals, Power Generation, Other |
| By Companies | Siemens, Galileo Technologies, Ingersoll Rand, Atlas Copco, Wärtsilä, Exterran, Chicago Pneumatic, Kobelco, MAN Turbo, Ariel Corporation, CIMC ENRIC, Propak Systems, Xian Shaangu Power, Bauer Compressors, Sinopec Oilfield Eouipment Corporation |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Key Segments Covered:
Top Market Players:
Siemens, Galileo Technologies, Ingersoll Rand, Atlas Copco, Wärtsilä, Exterran, Chicago Pneumatic, Kobelco, MAN Turbo, Ariel Corporation, CIMC ENRIC, Propak Systems, Xian Shaangu Power, Bauer Compressors, Sinopec Oilfield Eouipment Corporation, and others.
By Type
- Oil Injected
- Oil Free
- Others
By Compressor
- Dynamic Compressor
- Positive Displacement Compressor
- Piston Compressor
- Rotary Screw Compressor
- Others
By End User
- Construction
- Oil & Gas
- Mining
- Chemicals
- Power Generation
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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