Market Research Future published a Cooked Research Report on “Global CNG Compressor Market Research Report – Forecast to 2027 ” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027
Prominent Players
Ariel Corporation, Atlas Copco, P.C. McKenzie Company, Ingersoll Rand, Sauer Compressor, J-W Energy, BAUER, CIMC ENRIC, Wärtsilä are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global CNG Compressor Market.
CNG Compressor Global Market – Overview
The Global 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. As per the study conducted by Market Research Future, the global market for CNG Compressor is likely to grow at the CAGR of around 4%.
One of latest trends in the market is advances in CNG compressor technology. In a CNG fueling 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 2016. 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.
Geographically, the global CNG Compressor market has been divided into North America, Europe, Asia Pacific and Rest of the World. Among these regions, Asia Pacific is projected to dominate the market during the forecast period. The major factors driving the growth of the market here is CNG gaining popularity in two-wheeler market and Government support for NGV infrastructure. Major contributors to the demand for two-wheelers are countries in APAC, with China leading the market. China is closely followed by India and Indonesia. India has seen the fastest growth in the two-wheeler segment in the past five years. With a consistent increase in the sales of two-wheelers, there is a demand for alternative fuel options in the two-wheelers segment as CNG is highly economical and safe. In June 2016, the Government of India launched Honda Activa CNG scooter. The CNG kit has been approved by the Automotive Research Association of India for fitting in Honda’s Activa scooters. It is the first CNG scooter launched in India. Natural gas has the potential to contribute toward climate change mitigation. Increasing natural gas infrastructure developments will drive this trend. The development of NGV fueling stations is strongly supported by governments in various countries. For instance, in the US, CNG and LNG are considered as alternate fuels. The government provides 30% tax credit for natural gas fueling equipment that has been installed between January 2015 and December 31, 2016. This support will help in reducing the overall investment. Therefore, the CNG compressor aftermarket will grow during the forecast period. Also, substantial growth is expected in regions such as, North America, and Europe, as these region are modifying CNG infrastructure.
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Industry News
In November, 2017 – Sparq Natural Gas, Timmons Oil Co., Dericks Leasing & Financial Co., and J-W Power officially broke ground on a public-access compressed natural gas (CNG) fueling station in Tulsa, Okla. According to Sparq, the station will feature the installation of J-W Power’s PowerFill technology, a patented compressor designed with heavy-duty trucks in mind, to speed up the fueling process.
In October, 2017 – J-W Power Company was granted with U.S. Patent No. 9,765,930 B2 for “CNG Fueling System” dated Sept 19, 2017. This technology significantly improves compressed natural gas (CNG) fill time at the dispenser.
In January, 2016 – BAUER COMPRESSORS introduces the next generation of it’s CNG compressor portfolio – THE C26 X-Fill® Series. This series, spanning the 125-175 HP range and featuring BAUER’s newest state-of-the-art high inlet pressure compressor, will complement the existing wide range in BAUER’s extensive CNG systems portfolio.
CNG Compressor Global Market – Segmentation
The scope of global CNG Compressor market is segmented into two major segments which are explained below:
- By Technology
- Positive Displacement Compressor
- Dynamic Compressors
- By Application
- Residential
- Commercial
- Industrial
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CNG Compressor Global 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.
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