Press release
CNG Compressor Market to Grow at USD ~200.0 Billion by 2023 | Global Industry Top Key Players: C&B Pumps and Compressors, LLC. , Gas Compressor Consultants Inc , GE Oil & Gas
Clean Energy Fuel Corporation introduced the most advanced heavy-duty, non-lubricated compressors for the natural gas fuel market in 2016. These new compressors are standardized and the streamlined modular engineering aids in quicker delivery time, and makes them more reliable and cost efficient. They also offer ultra-low vibrations and noise. Proprietary heat management ensures that the heated air is not recirculated between compressors so that it provides consistent performance regardless of the number of compressors. According to the report, one of the primary drivers in the market is increase in use of NGVs. The benefits of low operating cost and the reduction in vehicular emissions have increased the adoption of NGVs in both passenger and commercial fleets. OEMs such as GM, Ford, Fiat, Volvo, and Audi offer light, medium, heavy vehicles, trains, and aircraft that are powered by natural gas.
The global market for CNG is expected to grow at USD ~200.0 billion in 2023. It witnesses high growth because of adoption of CNG as an alternative to gasoline and diesel, which ultimately helps rise the CNG compressor market.
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Latest Industry News:-
In November, 2017 – Sparq Natural Gas, Timmons Oil Co., Dericks Leasing & Financial Co., and J-W Power officially broke ground on a public-access compressed natural gas (CNG) fueling station in Tulsa, Okla. According to Sparq, the station will feature the installation of J-W Power’s PowerFill technology, a patented compressor designed with heavy-duty trucks in mind, to speed up the fueling process.
In October, 2017 – J-W Power Company was granted with U.S. Patent No. 9,765,930 B2 for “CNG Fueling System” dated Sept 19, 2017. This technology significantly improves compressed natural gas (CNG) fill time at the dispenser.
Top Key Players:-
• Associated Compressor Engineers
• C&B Pumps and Compressors, LLC.
• Gas Compressor Consultants Inc
• GE Oil & Gas
• Atlas Copco
• P C Mc Kenzie C
• J-W Energy Company
• Bauer Compressors, Inc.
• Wärtsilä
• CIMC Enric
• Kobelco Compressors America, Inc.
• Elliott Company
• Ariel Corporation
CNG Compressor Global Market – Segmentation
The scope of global CNG Compressor market is segmented into two major
segments which are explained below:
By Technology
• Positive Displacement Compressor
• Dynamic Compressors
By Application
• Residential
• Commercial
• Industrial
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Global CNG Compressor Market Analysis:-
Based on application, transportation sector accounts for major market share than industrial and residential as developing nations are switching their vehicles run by natural gas.
Based on region, Asia Pacific was leading in CNG market and is expected to continue its dominance during the forecast period. China and India are expected to drive the CNG compressor market at a CAGR of ~ 10.0%, which is the fastest.
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