Demand for clean fuel vehicles running on natural gas is gaining momentum due to the rise in concern about environment protection. Governments across the world are promoting the usage of natural gas vehicles owing to the increase in greenhouse gas emissions. Currently, compressed natural gas (CNG) is the primarily used form of natural gas in vehicles worldwide. This gas is compressed at high pressures of about 200 bars and is then dispensed into the CNG tanks of vehicles. CNG is used largely in light duty vehicles, cars, and buses. It is generally not used for heavy duty transport vehicles. About 5 liters of CNG is equivalent to 1 liter of diesel. This makes it useless for long distance heavy duty trucks owing to the high volume and the weight of CNG. This paves the way for liquefied natural gas (LNG) for usage in vehicles.

LNG is natural gas that has been liquefied at a temperature of -161 °C. Its volume is about 1/600 times that of natural gas. LNG as transportation fuel would decrease cost and carbon emission when compared to its crude oil alternatives. LNG fueling stations are gradually gaining popularity as they possess higher energy density than CNG, higher volume of natural gas, and their storage requires highly insulated tank owing to low temperatures. Hence, LNG is suited for long distance heavy duty vehicles. Since LNG as a fuel are best suited for heavy-duty vehicles hence while developing LNG fueling stations special care must be taken for accommodation of these vehicles.

In terms of type of station, the LNG fueling station market can be bifurcated into permanent station and mobile station. Permanent stations are akin to any other fuel stations where dispensers are fixed and firmly attached to the ground and LNG is stored in storage tanks. It is dispensed into the vehicles through fuel dispensers. Under the mobile station type, an LNG tanker with a side mounted LNG dispenser attached to it is utilized. This type of fueling station can serve various small fleet of vehicles and can also be used for emergency refueling of vehicle.

Based on application, the LNG fueling station market can be classified into vehicles and ship. The vehicles application segment consists of automobiles running on LNG. These are primarily heavy duty vehicles and other vehicles utilizing LNG as fuel source. The ship application segment comprises ships and barges running on LNG.

In terms of region, the LNG fueling station market can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to lead the market during the forecast period, followed by North America. This dominance in the market by Asia Pacific is primarily due to the large number of LNG fuel stations in China. The LNG fueling station market in Asia Pacific is anticipated to expand at a significant pace during the forecast period due to the increase in demand for natural gas as a cleaner alternative for other fossil fuels and rise in number of heavy duty vehicles in the region.

Key companies operating in the LNG fueling station market include Cryostar, Clean Energy Fuels, ENN Energy Holding, Kunlun Energy Company Limited, FortisBC, ENGIE, Sinopec, CNOOC, and Natural Gas Vehicles for America.

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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
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  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Lng Fueling Station Market

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