CNG Compressor Market
CNG Compressor Market Overview:
CNG Compressor is expected to grow at USD 200.0 Billion in 2023. It witnesses high growth because of adoption of CNG as an alternative to gasoline and diesel, which ultimately helps rise the CNG compressor market.
CNG Compressor Market is projected to rise at a CAGR of 5.0% during the forecast period.
CNG Compressors Market is expected to grow steadily during the forecast period registering a significant rate of CAGR by 2023. The increased numbers of natural gas vehicles is one of the major factors impacting the growth of The Global CNG compressors market during the forecast period 2018 – 2023. The adoption of natural gas vehicles in the passenger car segment and commercial fleets will get extended with the low operating cost and reduced vehicular emissions.
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CNG Compressor Market Application:
CNG Compressor Market has witnessed a remarkable growth in the past few years and it has been anticipated that the CNG compressor systems will grow at the rapid pace during the forecast period. CNG compressor is a very diverse subject areas, it comprises positive displacement compressor and dynamic compressors. Positive displacement compressor is a device which is used to compress natural gas so that it can be transported to long distances via interstate or intrastate pipelines. These compressors increase the pressure of natural gas by decreasing its volume mechanically which ultimately increases the speed as well as gas pressure inside the pipeline. Whereas, a dynamic compressor is a flow machine where the pressure increase takes place at same time as the gas flows. The flowing gas accelerates to a high velocity by means of the rotating blades, after which the velocity of the gas is transformed to pressure when it is forced to decelerate under expansion.
CNG fuelling station, the gas flows from the distribution channel into the gas compressor and is stored in a storage facility from which it is later dispensed according to the requirement. With advances in technology, companies are developing compressors that give better efficiency, effectiveness, cost, and reliability. Clean Energy Fuel Corporation introduced the most advanced heavy-duty, non-lubricated compressors for the natural gas fuel market in 2017. These new compressors are standardized and the streamlined modular engineering aids in quicker delivery time and makes them more reliable and cost efficient. They also offer ultra-low vibrations and noise. Proprietary heat management ensures that the heated air is not recirculated between compressors so that it provides consistent performance regardless of the number of compressors.
According to the report, one of the primary drivers in the market is increase in use of NGVs. The benefits of low operating cost and the reduction in vehicular emissions have increased the adoption of NGVs in both passenger and commercial fleets. OEMs such as GM, Ford, Fiat, Volvo, and Audi offer light, medium, heavy vehicles, trains, and aircraft that are powered by natural gas. Car manufacturers such as GM and Ford have certified natural gas conversion systems, which can be installed without voiding the warranty, increasing their appeal to buyers.
CNG Compressor Market Synopsis & Scenario:
Large-scale application of CNG in recent times is one of the primary factors driving the CNG Compressor market. The demand for CNG and CNG compressor are complimentary to each other. Recent surge in the Oil and Gas market is expected to have a positive impact on the CNG compressor market. CNG being relatively cheaper as compared to petrol and diesel has widely been preferred fuel to curb the ever-increasing demand for Oil &Gas. Hence the market for CNG compressor is expected to grow at a considerable rate of CAGR (2018-2023).
CNG Compressor Market Key Players:
CNG Compressor Market are: Ariel Corporation (U.S.), Atlas Copco (Sweden), P C Mc Kenzie C (U.S.), J-W Energy Company (U.S.), Bauer Compressors, Inc. (U.S.), Wärtsilä (Finland), and CIMC Enric (China). Kobelco Compressors America, Inc. (U.S.), Elliott Company (U.S.), Associated Compressor Engineers (U.K), C&B Pumps and Compressors, LLC. (U.S.), Gas Compressor Consultants Inc (U.S.), and GE Oil & Gas (U.S.) are among others. They are highly capable of offering the finest service in the industry.
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CNG Compressor Market Regional Analysis:
North America is the leading market for CNG Compressor market mainly due to the aging infrastructure bringing out the need for onshore and offshore exploration activities.
Asia-Pacific is another significant region with ever increasing demand for energy and technological development pushing the demand in this region.
CNG Compressor Market Competitive Analysis:
The global market for CNG Compressor seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
CNG Compressor Market Table of Content:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Bargaining Power of Suppliers
3.1.4 Threat of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global CNG Compressor Market, By Type
5.1 Introduction
5.2 Positive Displacement
5.2.1 Market Estimates & Forecast, 2018-2023
5.2.2 Market Estimates & Forecast by Region, 2018-2023
5.3 Dynamic
5.3.1 Market Estimates & Forecast, 2018-2023
5.3.2 Market Estimates & Forecast by Region, 2018-2023
CNG Compressor Market Table of Content to be Continue…….,
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