CNG Dispenser Market Size, Top Manufacturers, Cost Models, Growth Analysis 2024-2032

IMARC Group, a leading market research company, has recently releases report titled "CNG Dispenser Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032" The global CNG dispenser market size reached US$ 210.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 395.6 Million by 2032, exhibiting a growth rate (CAGR) of 7.25% during 2024-2032.

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Factors Affecting the Growth of the CNG Dispenser Industry:

• Environmental Concerns:

The growing demand for CNG dispensers on account of rising environmental concerns among individuals is offering a positive market outlook. In line with this, the increasing focus on combating climate change is impelling the growth of the market. Furthermore, rising preferences for cleaner energy sources are bolstering the market growth. In addition, compressed natural gas (CNG) is a cleaner alternative that benefits in reducing carbon dioxide emissions as compared to traditional fossil fuels. The reduction in air pollutants, such as nitrogen oxides and particulate matter, further makes CNG an attractive solution for urban areas dealing with air quality issues.

• Favorable Government Initiatives:

Governing agencies of various countries are encouraging the adoption of CNG dispensers by implementing stringent environmental policies, which is contributing to the market growth. They are also offering numerous tax rebates and subsidies for CNG vehicles. Apart from this, they are investing in improving the refueling infrastructure to make CNG more accessible to a wider range of individuals. Furthermore, the rising focus on cleaner fuels to maintain environmental sustainability is impelling the market growth. In addition, these initiatives assist in reducing pollution levels in the environment.

• Technological Advancements:

Innovations in dispenser technology, such as high filling speed, increased safety features, and improved fuel metering, aid in enhancing the overall user experience and operational efficiency. In addition, these technological improvements make CNG more accessible and appealing to both station operators and vehicle owners. Furthermore, innovations in compression and storage technology reduce the cost and footprint of CNG stations. Apart from this, the development and implementation of advanced technologies are vital in meeting the growing demand for efficient and reliable CNG refueling infrastructure.

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Leading Companies Operating in the Global CNG dispensers Industry:

• Bennett Pump Company
• Censtar Science & Technology Co. Ltd
• Compac Industries
• Dover Corporation
• Gilbarco Inc. (Vontier Corporation)
• Greka Engineering
• Parker Hannifin Corp
• Sankipetro
• Scheidt & Bachmann Tubs doo
• Tatsuno Corporation
• TGT Fuel Technologies Pvt. Ltd
• WEH GmbH

CNG Dispenser Market Report Segmentation:

By Type:

• Fast-Filling
• Time-Filling

Time-filling represents the largest segment as it offers quick refueling that minimizes vehicle downtime.

By Flow Rate:

• 1-15 kg/min
• 16-50 kg/min
• Above 50 kg/min

Above 50 kg/min holds the biggest market share on account of the rising demand from heavy-duty applications.

By Distribution Channel:

• Company-owned and Company-run
• Dealer-owned and Dealer-run
• Company-owned and Dealer-run

Dealer-owned and dealer-run accounts for the largest market share due to the increasing focus on enhancing the experiences of individuals.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America enjoys a leading position in the CNG dispenser market, which can be attributed to the rising need to reduce greenhouse gas (GHG) emissions.

Global CNG Dispenser Market Trends:

The escalating demand for natural gas vehicles (NGVs) among the masses across the globe is supporting the market growth. In addition, NGVs offer a cost-effective and eco-friendly alternative to vehicles powered by conventional fuels, appealing to both commercial and individual fleets. Besides this, lower operating costs and reduced emissions make NGVs an attractive option in the transportation sector.
Apart from this, the rising number of fuel stations is contributing to the growth of the market. Moreover, there is an increase in the demand for cleaner urban transportation methods.

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

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This release was published on openPR.