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Natural Gas Refueling Infrastructure Market to Expand at 10.17% CAGR 2014-2022 due to High Demand for Natural Gas as Vehicular Fuel

Posted on Jun 23, 2016

The report is titled “Natural Gas Refueling Infrastructure Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2014 - 2022.” According to the report, the global natural gas refueling infrastructure market, in terms of volume, is anticipated to grow from 19,396 units in 2013 to reach 29,688 units by 2022, expanding at a CAGR of 4.80% from 2014 to 2022. A high demand for natural gas as a vehicular fuel is behind this growth. Based on the information provided in the report regarding the challenges that new entrants face, the marketing strategies implemented by leading companies in the market, and the recent trends, enterprises can effectively make smart decisions regarding investments in the market. 

Browse the full Natural Gas Refueling Infrastructure Market, by Station Type (CNG and LNG) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2014 – 2022 report at https://www.transparencymarketresearch.com/natural-gas-refueling-infrastructure-market.html

Transparency Market Research (TMR) has announced the addition of a new market study on the natural gas refueling infrastructure market. The report analyzes the drivers and restraints of the market. As per the findings in the report, the market which was valued at US$21.37 bn in 2013 is estimated to reach US$50.25 bn, expanding at a CAGR of 10.17% from 2014 to 2022.

Natural gas is an excellent vehicular fuel. Natural gas comes with various benefits such as low cost, a non-toxic nature, and availability in abundance. It offers better mileage and efficiency when used as transportation fuel. Thus, natural gas vehicles are emerging as a new development with a potential to revamp the transportation sector and impact the global natural gas refueling infrastructure market positively.

The use of natural gas as a vehicular fuel is expected to reduce the reliance of countries on the imports of crude oil. Thus, the use of natural gas as vehicular fuel enjoys support from the governments of various countries. This is also expected to increase the number of natural gas vehicles, which in turn is expected to drive the natural gas refueling infrastructure market.

Furthermore, the use of natural gas is safer for the environment and human health as it does not emit harmful gases, which is the case with petrol and diesel. This, is expected to propel the global natural gas refueling infrastructure market in the coming years. The low cost of natural gas provides an attractive return on investment, which will boost its adoption.

The market’s challenges include high infrastructural cost and increase in the number of electric vehicles. However, the enforcement of stringent government regulations is expected to increase the investments in the natural gas refueling infrastructure market.

The global natural gas refueling infrastructure market is segmented on the basis of station and geography. On the basis of station, the global natural gas refueling infrastructure market is segmented into CNG and LNG. The CNG segment dominated the market in terms of volume of sales in 2013, with 17,000 stations existing. The CNG station count is expected to rise to 28,000 by 2022. CNG has become a popular substitute to conventional fuels owing to the better efficiency and mileage it offers. LNG is in demand in heavy-duty vehicles such as buses and trucks as it offers greater energy density and mileage. Financial savings and a significant reduction in emissions can be expected by using LNG as a transport fuel.

On the basis of geography, the global natural gas refueling infrastructure market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America is expected to be an opportunity-laden market for natural gas refueling infrastructure due to the vast reserves of natural gas in the region.

Key players profiled in the report include: Apache Corporation, Blu LNG, Cryostar SAS, Trillium CNG, Gazprom, PETRONAS, Abu Dhabi National Oil Company, BP plc, Indraprastha Gas Limited, ENN Energy Holdings Limited, Fuel System Solutions, Inc., GE Oil & Gas, Clean Energy Fuels, GNC Galileo, and Gas Natural Fenosa.

The global natural gas refueling infrastructure market has been segmented as follows:

Station

  • CNG
  • LNG

Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Pakistan
    • Bangladesh
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East
    • Iran
    • Rest of Middle East
  • Africa
    • Egypt
    • Rest of Africa

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