CNG Compressor Market Research Report - Forecast to 2030

CNG Compressor Market Research Report: Information by Technology (Positive Displacement, Dynamic), Applications (Industrial, Residential, Transportation), and Region (North America, Europe, Asia Pacific, and Rest of the World)– Forecast till 2030

ID: MRFR/E&P/0867-HCR | February 2023 | Region: Global | 120 Pages         

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CNG Compressor Market

CNG Compressor Market share is expected to surpass USD 5,072.6 Million by 2030, with a 5% CAGR during the forecast period, 2022-2030.

Segmentation
By Technology Positive Displacement Dynamic
By Application Industrial Residential Transportation
Key Players
Companies Profiled   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)    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.)    GE Oil & Gas (U.S.)
Drivers
Market Driving Forces   Growing natural gas pipeline network across the world    Consumption of natural gas in power plant in search of economic efficient energy source    Reduction of consumption of coal in emerging countries
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The CNG compressor market is predicted to acquire a CAGR of 5% and a market value of USD 5,072.6 Million in the forecast period between 2022 to 2030.


CNG Compressor Market Scenario


Compressed gas is known for its beneficial features for the environment. This gas reduces transportation costs, checks pollution, and further reduces greenhouse gas emissions. The higher awareness and concern among the public and government is driving the CNG compressor market.


The compressors are reliable and durable with high efficiency. These are essential for gas stations, pipeline transportation, and storage applications. Due to its application, the market’s demand is propelling at a higher pace. The growing number of CNG vehicles market with low operational costs and reduction of carbon emissions is the chief driver of the market. The OEMs (Original Equipment Manufacturers) worldwide prefer CNG-powered cars, accelerating the market’s growth rate.


The growth of natural gas pipeline networks globally is driving the market. Using natural gas in power plants for economically efficient energy sources with a reduction of coal is a growth factor for the market. The concern to lower the pollution and emission levels and the widening application of natural gas in industrial verticals is propelling the market’s performance.


The main drivers of this global CNG compressor market are growing natural gas pipeline network, across the world, consumption of natural gas in power plant in search of economic efficient energy source, and reduction of consumption of coal in emerging countries. Low pollution and emission levels, abundant gas reserves, technological advancements in the technology, and widening application of natural gas in industry are also some of them.


CNG Compressor Market Key Players


The major key player in global 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.


Recent Developments


October 2021



  • Kirloskar Pneumatic Company Ltd (KPCL), India’s global player in Air, Refrigeration, and Gas Compression, has revealed its financial results for the quarter and a half year, which ended on September 30 2021.

  • During the quarter, the Company delivered a record of compressors for the Oxygen plants and other application areas despite the supply chain challenges.


March 2022



  • Maruti Suzuki’s CNG adoption will let the market leader close FY21-22 with nearly a quarter of a million units in sales, up from 1.63 lakh units in FY20-21 and just one lakh in FY19-20. To increase its CNG portfolio besides the current 9 models, Maruti sold 2.35 lakh units from April 21 to February 22. Now it is looking forward to a larger CNG share in the new financial year.


CNG Compressor Market Segmentation


The CNG compressor market is further segmented on the basis of technology as Positive Displacement and Dynamic, on the basis of applications as Industrial, Residential and Transportation, and on the basis of regions.Based on type, this segment includes positive displacement and dynamic technology, among which positive displacement is a device used to compress the natural gas so that it can be transported to longer distances through pipelines. This device increases the pressure of natural gas by decreasing its volume while, dynamic compressor is a flow machine where pressure increases take place at the same time as gas flows.


Based on application, transportation sector accounts for major market share than industrial and residential as developing nations are switching their vehicles run by natural gas.


CNG Compressor Market


Global CNG Compressor Market Regional Analysis


The share of natural gas in global energy mix will grow at ~23.0% in 2025, which is mainly driven by the growth of India, China and South East Asia, as the countries have had an increased concern regarding air quality, growth in industrial and transportation sector.


Based on region, Asia Pacific was leading in CNG market and is expected to continue its dominance during the forecast period. China and India are expected to drive the CNG compressor market at a CAGR of ~ 10.0%, which is the fastest.


A CNG compressor is a mechanical device used widely in natural gas industry for transportation purposes. The device compresses the total volume of the gas, thereby increasing its pressure. This helps the natural gas move easily in long distances within the pipelines without any pressure drop. CNG compressors are chosen over fleet because of their reliability and performance range. Location of CNG station is strategically determined with the help of gathering as well as with the help of pipeline network to maintain the pressure and flow of natural gas. CNG compressors can be used in the set up of gas stations, fueling of vehicles, pumping gas into high-pressure CNG tanks and in pipeline transmission as a compressor station to transfer gas from one to another.



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: USD 5,072.6 Million
  CAGR   5% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Technology and Applications
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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.)
  Key Market Opportunities   New product launches and R&D amongst major key players
  Key Market Drivers

  • Growing natural gas pipeline network, across the world
  • Consumption of natural gas in power plant in search of economic efficient energy source
  • Reduction of consumption of coal in emerging countries


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    Frequently Asked Questions (FAQ) :

    The global market of CNG compressor can thrive at 5% CAGR in the review period.

    The CNG compressor market is set to register a considerable valuation by the end of the study period.

    Atlas Copco (Sweden), J-W Energy Company (U.S.), P C Mc Kenzie C (U.S.), and Bauer Compressors, Inc. (U.S.) are some major companies in the CNG compressor market.

    The large scale commercial application of CNG compressors can impel their market growth.

    The high rate of adoption of CNG compressor by APAC can bolster the regional market growth.