CNG Dispenser Market Size was valued at USD 0.13 Billion in 2022. The CNG Dispenser Market industry is projected to grow from USD 0.14 Billion in 2023 to USD 0.28 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.00% during the forecast period (2023 - 2032). Increasing demand for natural gas as a clean fuel and the requirement for efficient and dependable refueling infrastructure are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for CNG Dispenser is being driven by the Rising Demand for Clean and Sustainable Energy. Because of the growing need for clean and sustainable energy sources, the CNG dispenser market is likely to expand rapidly in the future years. Adoption of clean fuels such as compressed natural gas (CNG) is gaining traction as the globe moves toward a more ecologically conscious future. CNG is a more environmentally friendly and sustainable fuel than regular gasoline or diesel, generating far fewer pollutants and greenhouse gases. It is also less expensive and more widely available, making it a viable option for transportation and industrial uses. As the need for CNG grows, so does the market for CNG dispensers, which are needed to fill up CNG-powered cars and equipment. The industry is likely to expand further as CNG becomes more popular as a fuel source in emerging markets such as India and China.
Furthermore, government initiatives and legislation encouraging the usage of clean fuels are projected to propel the CNG dispenser market forward. In India, for example, the government has initiated the City Gas Distribution (CGD) project, which seeks to distribute piped natural gas (PNG) and compressed natural gas (CNG) to families and companies across the country.
Moreover, Natural gas vehicles (NGVs) are becoming increasingly popular. NGVs are cars that run on compressed natural gas (CNG) or liquefied natural gas (LNG) and are gaining popularity due to lower emissions, lower fuel costs, and quieter operation. Several factors are driving the demand for NGVs, including rising fuel prices, growing environmental concerns, and government measures supporting the use of clean fuels. As the demand for NGVs rises, so will the demand for CNG dispensers, which are needed to fill these cars. The NGV industry is likely to expand further in the future years, particularly in growing economies such as India and China, where the government is encouraging the use of clean fuels to reduce pollution and reliance on foreign oil. Also, advances in CNG dispenser technology are projected to drive market expansion. New dispensers with improved safety features and faster filling times, for example, are being developed to make CNG refuelling more easy and efficient.
Overall, rising demand for natural gas vehicles is a primary driver of the CNG dispenser market's expansion, which is projected to continue in the coming years.
The CNG Dispenser Market segmentation, based on type includes fast fill and time fill. Because of the growing need for fast fueling of CNG cars, particularly in the transportation sector, the fast fill segment has the biggest market share in the CNG dispenser industry. Fast fill dispensers can swiftly refuel CNG cars, which is crucial for fleet operators and other enterprises who demand quick and effective refuelling of their vehicles. As a result, the market for fast fill CNG dispensers has grown rapidly, with the category owning the biggest market share.
Figure 1: CNG Dispenser Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The CNG Dispenser Market segmentation, based on Distribution, includes company owned & company run, company owned & dealer run, dealer owned & dealer run. The company-owned and dealer-run category is one of the fastest expanding divisions in the CNG dispenser market. This group includes dispensers owned by CNG filling station operators but operated by dealers authorized by the company to manage the dispensers. This market is quickly expanding due to increased demand for CNG filling stations and the requirement for efficient and dependable refuelling of CNG cars.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America dominates the CNG dispenser market owing to the existence of a significant number of CNG cars, particularly in the transportation sector, which drives demand for CNG dispensers. The transportation sector in North America has been actively embracing CNG vehicles, resulting in a large increase in demand for CNG dispensers. The strong demand for CNG dispensers has been a major driver of growth in the North American CNG dispenser market. The United States and Canada have a huge number of CNG vehicles that are utilized for a variety of applications such as public transportation, delivery vehicles, and personal vehicles.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CNG Dispenser Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe CNG Dispenser Market accounts for the second-largest market share due to the expanding the use of natural gas as a clean fuel. Further, the German CNG Dispenser Market held the largest market share, and the UK CNG Dispenser Market was the fastest growing market in the European region
The Asia-Pacific CNG Dispenser Market is expected to grow at the fastest CAGR from 2023 to 2032. This is Because of the growing demand for natural gas as a clean fuel, as well as the existence of a large number of CNG vehicles. Moreover, China’s CNG Dispenser Market held the largest market share, and the Indian CNG Dispenser Market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the CNG Dispenser Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, CNG Dispenserindustry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the CNG Dispenser industry to benefit clients and increase the market sector. In recent years, the CNG Dispenser industry has offered some of the most significant advantages to medicine. Major players in the CNG Dispenser Market, including Censtar (China), FTI International (Canada), Lanfeng (China), Sanki (China), Parker (US), Tatsuno (Japan), WEH (Germany) and others, are attempting to increase market demand by investing in research and development operations.
Bennett Pump Company is a prominent maker of retail and commercial fuel dispensers and components. The company's products include traditional and alternative gasoline dispensers, payment systems, and control systems. Bennett Pump Company has a strong position in the CNG dispenser industry, offering a variety of dispensers designed to fulfill the needs of fleet operators and other enterprises who require quick and efficient vehicle refuelling. The company has a good reputation in the industry for its creative products and attention to quality. Bennett Pump Company is likely to expand more in the coming years as the market for fuel dispensers and related components grows. In 2021, Bennett Pump Company, a prominent player in the gasoline dispenser business, has announced the release of a new CNG dispenser with faster fill times and enhanced safety measures.
Gilbarco Inc., often known as Gilbarco Veeder-Root, is a manufacturer of fuel dispensers, point-of-sale systems, payment systems, forecourt merchandising, and support services. The company is a subsidiary of Vontier, with headquarters in Greensboro, North Carolina, in the United States. It employs around 4,000 people worldwide, with offices in North and South America, Europe, Asia, the Pacific Rim, Australia, the Middle East, and Africa for sales, production, research, and development. In 2020, Gilbarco Veeder-Root, a prominent maker of fuel dispensers, has announced the release of their Encore CNG dispenser, which has a stylish design and improved safety features.
In March 2020,Agility Fuel Solutions, a leading developer of clean fuel solutions, has introduced a new CNG fuel system that incorporates a high-performance CNG dispenser. The new technology is intended to fulfill the growing need in the transportation industry for clean fuel alternatives.
In July 2021,Dover Fueling Solutions, a producer of gasoline dispensing equipment and technology, has introduced the Tokheim Quantium CNG dispenser. The new dispenser is intended to provide consumers with faster fill times, enhanced safety measures, and a user-friendly interface, making it easier for them to refuel their CNG vehicles.
In September 2021,Gasboy, a prominent developer of gasoline dispensers and management systems, including CNG dispensers, has been acquired by Fortive Corporation, a multinational industrial technology business. Fortive expects the acquisition to boost its position in the fuel dispenser market and broaden its product portfolio.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.13 Billion |
| Market Size 2023 | USD 0.14 Billion |
| Market Size 2032 | USD 0.28 Billion |
| Compound Annual Growth Rate (CAGR) | 9.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Distribution, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 | CNG is becoming more popular as a transportation fuel in emerging countries. |
| Key Market Dynamics | Natural gas vehicles have a low operating cost. |
Frequently Asked Questions (FAQ) :
The CNG Dispenser Market size was valued at USD 0.13Billion in 2022.
The market is projected to grow at a CAGR of 9.00% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are Censtar (China), FTI International (Canada), Lanfeng (China), Sanki (China), Parker (US), Tatsuno (Japan), WEH (Germany).
The fast fill category dominated the market in 2022.
The company-owned and dealer-run had the largest share in the market.
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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