CNG Dispenser Market Research Report- Forecast till 2030

CNG Dispenser Market Research Report: Information by Type (Fast Fill and Time Fill), Distribution (Company Owned & Company Run, Company Owned & Dealer Run, & Dealer Owned & Dealer Run), and Regionsโ€“ Global Forecast till 2030

ID: MRFR/E&P/5536-HCR | November 2022 | Region: Global | 111 Pages         

CNG Dispenser Market

CNG Dispenser Market share is expected to be valued at a global figure of USD 255.5 million by the end of the forecast period in 2027.

Segmentation

By Type Fast Fill Time Fill
By Distribution Company Owned & Company Run Company Owned & Dealer Run Dealer Owned & Dealer Run

Key Players

  • Fortive (US)
  • Dover (US)
  • Tulsa Gas Technologies (India)
  • Scheidt & Bachmann (US)
  • Kraus (US)
  • Compac (US)
  • Bennett (US)
  • Censtar (China)
  • FTI International (Canada)
  • Lanfeng (China)
  • Sanki (China)
  • Parker (US)
  • Tatsuno (Japan)
  • WEH (Germany)

Drivers

  • New product launches and R&D amongst major key players
  • Low running cost of natural gas vehicles
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CNG Dispenser Market Overview


The CNG dispensers market share is expected to be valued at a global figure of USD 255.5 million by the end of the forecast period in 2027. The rate of growth at which the market is expected to reach such a valuation stands at 9%. The rising demand for CNG dispensers in the form of a solvent is like helping the market reach this predicted valuation.


CNG dispensers can be defined as substances that owe their derivation to both coal products and crude oil. Some CNG dispensers have wide use like toluene, benzene, alongside xylene. These are mostly used in a huge variety of consumer products that provide both personal and environmental advantages owing to major factors like their ability to enhance durability, safety improvisations, and anti-pollution properties. Also, CNG dispensers are not heavy and have comfortable use. The main reason for its popularity is its wide acceptability, acceptability and demand is the lightweight design that backs it well.


COVID 19 Analysis


The arrival and sudden outbreak of the pandemic in the form of a healthcare emergency worldwide has accelerated many changes in the functioning of businesses and also has affected the ability of the units to manufacture and produce as per the CNG dispenser market demand. This has further brought a disrupted change in the supply chain mechanism and displaced people from their workplace and employment opportunities. Also, the target audience is moving from one place to another to safeguard themselves. Owing to the adversity of the situation, a temporary and permanent lockdown is imposed for people to stay at home. Also, there are many strict functional restrictions for the market players due to which the market is further having issues meeting the standardized demand prevailing in the market.


However, the global government is on the path to reviving the market operations and establishing a smooth flow during the forecast period of 2022-2030. Hence, they are increasing their budget allocated for the research and development of innovative uses of CNG dispensers across various regions, and industry vertices. It is being considered as an attempt to generate a huge demand from various ends that will help in normalizing the supply chain mechanism of the market. Also, the global market players that are functional across various global regions are working on product variations that will be launched on a global scale for the use of a mass audience.


Market Dynamics


Drivers


The global petrochemical industry is expecting outstanding growth by the end of 2027 by reaching a global market valuation worth USD 651.1 billion. Petrochemicals can be recognized as CNG dispensers and hence, the opportunities available to petrochemicals will derive a major growth for xylene and benzene. Also, 51.23% of demand for CNG dispensers belongs to the paints and coating industry which will further help the market grow as per the prediction during the forecast period of 2022-2030.


Restraints


The major factor restraining the growth of the CNG dispenser market during the ongoing period that ends in 2030 is the ease of transition to biofuels. Major players across the global market are investing in biofuel manufacturing, which makes it easier for the transition from liquid fuels to biofuels compared with natural gas, restraining the growth of natural gas vehicles.


Opportunities


Industrialization backed by the schemes and initiatives rolled by the governments of various economies has many growth opportunities lined up for the market. For instance, the Indian Government has rolled out the ‘Make in India’ scheme that will help commercial infrastructure growth in the international market. Many global market industries have gained many benefits from this. Also, a wide-scale demand has been initiated that will have a positive impact on the CNG dispenser market’s growth rate.


Technology Analysis


The building and construction sector uses CNG dispensers as one of the primary applications for architectural applications. The result of the population rise is striving for better commercial and residential infrastructure and automobiles. Regions like North America and the APAC region are becoming the epicenter of the growth of the paints industry as they are a part of the core industry functioning and this will enhance the demand by the end of 2027.


Market Segmentation


The CNG dispenser market has been divided all across the globe based on the type, application, end-user, and region.


By Type



  • Fast fill

  • Time fill


By Distribution



  • Company-owned & company run

  • Company-owned & dealer run

  • Dealer owned & dealer run


By Flow rate



  • Up to 15 kg/min

  • Up to 50 kg/min

  • Up to 100 kg/min


By Region



  • Asia Pacific

  • Europe

  • North America

  • South America

  • Middle East & Africa


Regional Analysis


The global CNG dispenser market has been divided all across the globe based on the region into the European region, North American region, Asia-Pacific region, Latin American region, and the Middle East and African region. The largest market share in the global market is held by the North American region owing to the increasing demand for automobiles. Also, the rising concerns related to the environment are fueling the global market growth during the ongoing period.


The APAC region is projected to enjoy the second-largest market share. The expansion of the automobile industry drives the market demand in this region. Also, positive growth has been observed in the spending capacity of people.


Competitive Landscape


The most prominent major key players in the CNG dispenser market all across the globe are mentioned below:



  • Bennett (US)

  • Fortive (US)

  • Censtar (China)

  • Parker (US)

  • Compac (New Zealand)

  • Sanki (China)

  • Dover (US)

  • FTI (Canada)

  • Tatsuno (Japan)

  • Kraus (Canada)

  • Scheidt & Bachmann (Germany)

  • Tulsa (India)

  • Lanfeng (China)


These major key players use various strategies to sustain their market position in the CNG dispenser market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the CNG dispenser all across the globe.


Recent Developments



  • Countries belonging to the APAC region such as China and India have an increasing number of natural gas vehicles, with an increasing number of refueling stations. Moreover, the CNG dispenser market functions that are prevailing in other countries such as Australia, Japan, and South Korea have a considerable number of natural gas vehicles, which are expected to drive the CNG dispenser market in the Asia Pacific region during the forecast period. 

  • The CNG dispenser market has been segmented globally, by flow rate, into up to 15 kg/min, up to 50 kg/min, and up to 100 kg/min. The up to 100 kg/min segment of the global market held the largest share in the market in 2017 and is expected to grow at the fastest CAGR during the ongoing period ending in 2027. The concept of Light-duty vehicles is propelling and the market is realizing the need that requires quick filling. The flow rate of the CNG dispenser is configured on the basis of station requirements and the type of vehicles serviced.

  • The fast-fill segment of the global market is expected to dominate the market from 2021 to 2027. There has been a substantial degree of growth in natural gas-fueled vehicles is one of the key reasons behind the growth of the fast-fill market.

  • Stringent emission policies in prominent participating countries and a rise in demand for natural gas vehicles are the major drivers that would trigger growth in the CNG dispenser market amid the ongoing period. 


Report Overview


This global CNG dispenser market research report consists of the following elements mentioned below:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technology Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape


Recent Developments


This market research report contains factors that drive the growth of the CNG dispenser market in the global market along with the factors that restrict its growth in the global market. The global market report also discusses the role of technology in the expansion of the market size. The impact of COVID 19 on the sales revenue of the CNG dispenser market all across the globe is mentioned. The trends have highlighted that help in the future growth rate during the forecasted period.


Intended Audience



  • Nationalized laboratories

  • Raw material suppliers

  • Potential investors

  • Automotive & transportation sector

  • CNG dispenser manufacturers

  • CNG fuel distributors

  • CNG kit manufacturers

  • Manufacturers and suppliers

  • Shipyards

  • Research and development institutes

  • Traders and distributors of CNG dispenser chemicals

  • CNG dispenser manufacturers



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   9% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type and Distribution
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Fortive (US), Dover (US), Tulsa Gas Technologies (India), Scheidt & Bachmann (US), Kraus (US), Compac (US), Bennett (US), Censtar (China), FTI International (Canada), Lanfeng (China), Sanki (China), Parker (US), Tatsuno (Japan), WEH (Germany)
  Key Market Opportunities   New product launches and R&D amongst major key players
  Key Market Drivers   Low running cost of natural gas vehicles


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Frequently Asked Questions (FAQ) :

The CNG dispenser market is expected to grow at a higher CAGR of 9% in the global market.

A constantly rising income level is projected to be garnered by the market in the coming years.

Bennett (US), Censtar (China), Compac (US), and FTI International (Canada) are some of the few companies.

The largest market share in the CNG dispenser market is held by the North American region

The CNG dispenser market is expected to account for a higher market value of approximately USD 255.5 million by the end of the forecasted period