CNG Dispensers Market: Overview
CNG is an abbreviation of compressed natural gas. CNG has high calorific value and content. Its use causes less pollution. It yields heat and it is found in large quantities across the world. It is one of the viable alternatives for the traditional energy sources used in the automotive industry. A CNG dispenser is a special type of fuel dispenser placed at a filling station. It is used for pumping CNG into vehicles. Global energy consumption is increasing rapidly day by day. Demand for CNG dispensers is rising rapidly all over the globe in order to meet the surging demand for energy in the automotive industry.
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CNG Dispensers Market: Key Segments
The CNG dispensers market can be segmented based on type, flow rate, and distribution channel. Based on type, the market can be segmented into fast-filling and time-filling. Based on flow rate, the market can be divided into 1–15 kg/min, 16–50 kg/min, and above 50 kg/min. Based on distribution channel, the CNG dispensers market can be classified into company-owned & company-run, dealer-owned & dealer-run, and company-owned & dealer-run. A majority of the leading players across the world are engaged in advanced research and development activities to derive new methods for extraction and processing of natural gas for use in the automotive industry. This factor is driving the CNG dispensers market. Challenges related to leakages is acting as a major restraint of the CNG dispensers market. A small leakage can, at times, lead to a major fire outbreak that should be handled carefully. Even as the CNG dispensers are commercially feasible, the technology alone would not determine the energy future. The cost of installation of CNG dispensers is high. Thus, it is likely that new and advanced technologies of CNG dispensers are emerging and approaches will be required to achieve economic feasibility.
CNG Dispensers Market: Regional Outlook
In terms of geography, North America leads the global CNG dispensers market. This can be ascribed to growth of the automobile sector and concerns regarding environmental pollution in countries such as the U.S and Canada. Rising use of CNG dispensers in the automotive sector in Canada has propelled the market in the country. Ultimately, the North American region is anticipated to propel demand for CNG dispensers. The CNG dispensers market in countries of Asia Pacific such as India, China, South Korea, and Japan has been expanding, due to rise in population and extensive utilization of automobiles in these countries. Countries such as China, India, Japan, and Australia are taking efforts for the development of advanced CNG dispensers. In Europe, a recent decision taken by the Government of Germany to shift from nuclear power as an energy source is anticipated to increase the investment renewable energy sources as well as in CNG dispensers in the near future. Subsidies provided by several governments to promote use of clean energy are likely to propel the CNG dispensers in the near future. Latin America, especially countries such as Brazil and Mexico, are witnessing high investments in CNG dispensers in order to meet the rising demand of the growing population. South Africa is also expected to witness increase in investments in CNG dispensers in the next few years.
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CNG Dispensers Market: Key Players
Key players operating in the global CNG dispensers market are Bennett, Mahanagar, Parker, Compac, Fortive, Kraus, Tulsa Gas Technologies, and Censtar.