LNG Stations Market Analysis, Growth Factors and Dynamic Demand by 2032

The global compressed natural gas market size was valued at $9.9 billion in 2020, and is projected to reach $22.3 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030

Methane and trace amounts of light hydrocarbons, nitrogen, and carbon dioxide are found in compressed natural gas (CNG), which is produced during the geological conversion of peat to anthracite coal. Due to the depletion of oil and coal supplies and the limited emission capabilities of gas fuel, it is crucial for the industrial sector's ability to grow sustainably. For specialised end uses in a variety of applications that demand more performance or stability, specific CNG is created.

Because to rising oil prices, cost-effective CNG is chosen in many nations. Also, when countries' energy needs increase, more CNG is used, which fuels market expansion over the course of the projection period. Also, the number of countries' financial well-being has increased and government requirements for pollution control have become more strict. The growth of the compressed natural gas market is supported by the world over the projection period. The future expansion of the compressed natural gas market is, however, constrained by the high initial investment costs, installation costs, and high cost of CNG storage tanks in vehicles with a restricted number of CNG fuelling stations.

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Lockdown measures taken in response to the COVID-19 pandemic resulted in a temporary prohibition on production, processing, and import/export activity across numerous industries, which reduced consumer demand for CNG. Moreover, a rise in the demand-supply imbalance and a halt in the development of new CNG infrastructure and natural gas fields due to a lack of labourers prevented the compressed natural gas market from expanding during the pandemic. Due to this, market growth in 2020's second, third, and fourth quarters fell. However, the COVID-19 immunisation programme started in many economies around the world in the second quarter of 2021, which helped the global economy and led to a recovery in the CNG market.

The compressed natural gas market is divided into regions, end users, and sources. It is divided into associated gas, non-associated gas, and unconventional sources, depending on the source. It is divided into light duty vehicles, medium/heavy duty buses, medium/heavy duty trucks, and others, depending on the end user. It is examined from the perspectives of North America, Europe, Asia-Pacific, and LAMEA.

Chevron Corporation, Eni, Royal Dutch Shell Plc., EOG Resources, Inc., Trillium CNG, Occidental Petroleum Corporation, Phillips 66 Company, JW Power Company, Total Energies, and Indraprastha Gas Limited are the major companies in the global compressed natural gas industry.

Market Segmentation

Report Scope:
The primary and secondary research is done in order to access up-to-date government regulations, market information and industry data. Data were collected from the LNG Stations manufacturers, distributors, end users, industry associations, governments' industry bureaus, industry publications, industry experts, third party database, and our in-house databases. The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment by type, application and region and as a result provides a holistic view of as well as a deep insight into the LNG Stations market covering all its essential aspects.

Global LNG Stations Market: Segmentations

Global LNG Stations Market: By Types
Mobile Station
Permanent Station

Global LNG Stations Market: By Applications
Vehicle
Ship

Global LNG Stations Market: Major Players
Kunlun Energy
CNOOC
ENN Energy Holding
Guanghui
Sinopec
Cryostar
Engie
FortisBC

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Global LNG Stations Market: By Regions
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia, and Rest of Asia-Pacific)
South America (Brazil, Argentina, Rest of South America)
Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)

Objectives of the Study:

• To provide with an exhaustive analysis on the LNG Stations Market by Product, By Application, By End User and by Region.

• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

• To evaluate and forecast micro-markets and the overall market

• To predict the market size, in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions

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