Global Compressed Natural Gas Market Projected to Grow at 12.4% CAGR, Reaching $340.2 Billion by 2029

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Compressed Natural Gas Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the compressed natural gas market has experienced rapid expansion lately. The market is projected to increase from $187.95 billion in 2024 to $213.29 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 13.5%. The historic growth can be credited to factors such as environmental regulatory compliance, savings in fuel costs, uptake in the transportation sector, governmental incentives and subsidies, along with energy security and diversification.

Compressed Natural Gas Market Size Forecast: What's the Projected Valuation by 2029?
The market size for compressed natural gas is predicted to witness rapid expansion in the coming years, reaching a value of $340.2 billion in 2029, with a compound annual growth rate (CAGR) of 12.4%. The expected growth during the predicted period can be linked to the global urge for cleaner energy sources, the emergence of renewable natural gas (RNG), governmental efforts towards sustainable mobility, expansion of the CNG infrastructure, and initiatives for urban air quality. Key trends forecasted for the predicted period encompass advancements in CNG storage technology, technological progression in CNG vehicles, infrastructure enhancement, growth in the sector of natural gas vehicles (NGV), and further advancements in CNG storage technology.

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What Are the Drivers Transforming the Compressed Natural Gas Market?
The increasing prevalence of vehicles powered by Compressed Natural Gas (CNG) is predicted to accelerate the development of the compressed natural gas market. Vehicles that rely exclusively on CNG for fuel present an attractive alternative to conventional fossil fuels. The growing popularity of CNG-powered vehicles stems from several benefits including cost-effectiveness than other fuels, durability and extended lifespan of the engine due to lowered gasoline contamination of the motor oil, prolonged periods between maintenance services such as oil changes and tune-ups, and reduced emission of harmful gases in comparison to traditional fuels. To illustrate, Autocar Professional, a B2B automotive magazine in India, reported a 38% increase in total sales of CNG vehicles in FY2024 which recorded 9,39,615 from 6,79,822 in FY2023. Thus, the burgeoning popularity of CNG-powered vehicles shows a positive trend in fuelling the growth of the compressed natural gas market.

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What Long-Term Trends Will Define the Future of the Compressed Natural Gas Market?
In order to establish a competitive advantage in the compressed natural gas market, leading corporations are inventing groundbreaking solutions like BioCNG facilities. BioCNG, an acronym for biocompressed natural gas, is a renewable energy source that is developed through the anaerobic digestion or fermentation of organic substances such as agricultural byproducts, organic waste, or energy-specific crops. Verbio India Private Limited, a Verbio Vereinigte BioEnergie AG subsidiary, decided to establish a BioCNG facility in Punjab's Lehragaga in October 2022. This German biofuel firm aims to tackle environmental issues relating to stubble burning at their newly opened plant. Using primarily paddy stubble collected from farmers as its input, which is conventionally incinerated by farmers, the plant's construction spanned three years and it has a daily production ability of 33 tons for BioCNG and 650 tons for bio-manure. This plant intends to drastically curtail air pollution within a 10km perimeter, offer costless stubble gathering for farmers, generate employment, enhance soil health via bio-manure, and supply a sustainable fuel for vehicular and industrial use. The Indian government's SATAT initiative aligns with this project, marking a key advancement in VERBIO's strategy to broaden their reach and establish additional BioCNG facilities throughout India.

Which Segments in the Compressed Natural Gas Market Offer the Most Profit Potential?
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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Which Firms Dominate the Compressed Natural Gas Market by Market Share and Revenue in 2025?
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.

Which Regions Offer the Highest Growth Potential in the Compressed Natural Gas Market?
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.

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