Surging Number Of CNG-Powered Vehicles Drives Growth In The Compressed Natural Gas Market: A Significant Driver Propelling The Compressed Natural Gas Market In 2025

The Compressed Natural Gas Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Compressed Natural Gas Market Size During the Forecast Period?
The size of the compressed natural gas market has seen a fast-paced expansion in the past few years. It's projected to surge from a total of $187.95 billion in 2024 to an estimated $213.29 billion in 2025, observing a compound annual growth rate (CAGR) of 13.5%. This impressive growth during the historical period can be linked to factors such as stringent environmental regulations and compliance on emissions, cost efficiency in fuel consumption, adoption by the transportation industry, government incentives and subsidies, along with the drive towards energy security and variety.

In the coming years, the compressed natural gas market size is projected to experience rapid expansion. Its projected worth is $340.2 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.4%. The growth during this forecasted phase can be credited to various factors such as a global emphasis on clean energy, the emergence of renewable natural gas (RNG), government sustainability programs in mobility, the broadening of CNG infrastructure, and initiatives for improved urban air quality. The forecast period is also expected to witness trends like enhancements in CNG storage technology, advancements in CNG vehicle technology, infrastructure development, expansion of natural gas vehicles (NGV), and advancements in CNG storage technology.

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What Are the High-Growth Segments in the Compressed Natural Gas Market?
The compressed natural gas market covered in this report is segmented -

1) By Type: Non-Associated Gas, Associated Gas, Unconventional Sources
2) By Product Type: Dedicated Fuel, Bi-Fuel, Dual Fuel
3) By Application: Light Passenger Vehicles, Medium or Heavy Duty Vehicles, Other Applications

Subsegments:
1) By Non-Associated Gas: Dry Gas, Wet Gas
2) By Associated Gas: Gas Produced With Oil (Associated Gas), Gas From Oil Fields
3) By Unconventional Sources: Shale Gas, Coalbed Methane (CBM), Tight Gas

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What Key Drivers Are Expected to Influence Future Compressed Natural Gas Market Growth?
The growing popularity of vehicles running on Compressed Natural Gas (CNG) is projected to accelerate the expansion of the CNG market. These are vehicles that operate solely on CNG combustion as a substitute for other types of fossil fuels. The increased interest in CNG-run vehicles in recent times stems from various benefits they offer, such as being a more economic fuel choice compared to other combustion fuels, promoting a longer engine life due to the reduced contamination of motor oil by gasoline, and wider gaps between required vehicle maintenance activities like tune-ups and oil changes. They also emit fewer harmful gases in comparison to traditional fuels. To illustrate, Autocar Professional, an Indian B2B automobile industry publication, reported in March 2024 that CNG vehicle sales reached 6,79,822 in FY2023 and then rose by 38% to 9,39,615 in FY2024. Hence, the mounting preference for CNG-fueled vehicles is fostering the growth of the CNG market.

Which Companies Hold the Largest Share Across Different Compressed Natural Gas Market Segments?
Major companies operating in the compressed natural gas market include Royal Dutch Shell plc, TotalEnergies SE, Chevron Corporation, Phillips 66 Company, PJSC Gazprom, ConocoPhillips Company, Parker Hannifin Corporation, Trillium Energy Partners LLC, Chart Industries Inc., Cavagna Group SpA, NeoGas Inc., Luxfer Holdings plc, Clean Energy Fuels Corp., J-W Power Company, Hexagon Composites ASA, Oasis Engineering Ltd., Agility Fuel Solutions LLC, Galileo Technologies S.A., Xebec Adsorption Inc., ANGI Energy Systems LLC, NG Advantage LLC, TGT Fuel Technologies Private Limited, National Iranian Gas Company, Pakistan State Oil Company Limited, Quantum Fuel Systems LLC, Compressed Natural Gas Services Ltd., Tomasetto Achille S.p.A.

What Are the Latest Developing Trends in the Compressed Natural Gas Market?
Renowned companies in the Compressed Natural Gas market are innovating new solutions such as BioCNG facilities to stand out in the market. BioCNG, also known as biocompressed natural gas, signifies a green energy source that is obtained from the anaerobic decomposition or fermentation of organic substances such as agricultural remnants, organic trash, or specialized energy crops. For example, in October 2022, Verbio India Private Limited, a subsidiary of the Germany-based biofuel firm Verbio Vereinigte BioEnergie AG, initiated a BioCNG facility in Lehragaga, Punjab intending to address the environmental issues related to stubble burning. The establishment utilizes agricultural residues, particularly paddy stubble, which is generally burnt by farmers. The facility, developed over three years, possesses a production capacity to deliver 33 tons per day (TPD) of BioCNG and 650 TPD of bio-manure. Its aim is to drastically decrease air pollution within a 10-kilometer radius, facilitate cost-free stubble collection for farmers, generate employment, enhance soil health via bio-manure, and provide an environmentally friendly fuel source for automotive and industrial usage. The initiative falls in line with the SATAT program of the Indian government and signifies a vital move in VERBIO's plans to proliferate and construct additional BioCNG facilities across India.

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What Are the Emerging Geographies for The Compressed Natural Gas Market Growth?
Asia-Pacific was the largest region in the compressed natural gas market in 2024. The regions covered in the compressed natural gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Compressed Natural Gas Market?
2. What is the CAGR expected in the Compressed Natural Gas Market?
3. What Are the Key Innovations Transforming the Compressed Natural Gas Industry?
4. Which Region Is Leading the Compressed Natural Gas Market?

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