CNG Dispenser Market is expected to grow at a 7.70% CAGR during the forecast period.
Up to 100 kg/min segment is estimated to dominate the CNG dispenser market during the forecast period. Moreover, it is also estimated that the growth of Asia-Pacific will be driven by increasing number of natural gas vehicles in countries such as China and India. This would further result in increasing number of gas fill stations. Moreover, Japan and South Korea also contribute towards increasing number of natural gas vehicles.
Fast fill CNG dispenser segment dominates the market as growing natural gas fueled vehicles are driving the growth of the fast fill dispenser market. Whereas, in time fill CNG dispenser, the fleet manager can control when the tank of a vehicle is filled. These dispensers come with advance technology which comes with a control software allowing safe, accurate, temperature compensated fill for every vehicle.
The Key Players of the Global CNG Dispenser Market are 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).
Global CNG dispenser market has been segmented based on type, distribution, flow rate, and region. Based on distribution, the market is classified into company owned & company run, company owned & dealer run, and dealer owned & dealer run. Company owned & company run is expected to hold the largest share for increasing the profitability.
Based on flow rate, the market is segmented into up to 15 kg/min, upto 50 kg/min, and up to 100 kg/min. Upto 100 kg/min segment is estimated to account for the largest share during the forecast period. This segment is also projected to grow at a fastest rate during the same period as light-duty vehicles require quick tank fill. Reduction in cost and complexity in line due to operational improvement program for light duty vehicles is likely to drive the market for CNG dispenser with up to 100 kg/min flow rate. Also, the flow rate of the dispenser is configured on the basis of natural gas station requirement and the type of vehicles serviced. Hence, increasing number of light-duty vehicles is expected to drive the market for this segment.
Global CNG Dispenser Market is expected to witness a high growth during the forecast period due to low running cost of natural gas vehicles. For instance, Asia-Pacific holds the largest number of natural gas stations as well as natural gas vehicles (NGVs) 18,509,677 and 18,735 respectively. This would positively impact the growth of CNG dispenser market.
CNG dispenser is a fill equipment installed in gas station to fill the gas in the vehicles. Nowadays, the operators are moving towards natural gas as an alternative to conventional fuel as natural gas provides significant amount of power while producing lower levels of emissions at a lower rate. CNG dispenser is capable of quickly refill the empty fuel tank of vehicles. There are mainly two types of CNG dispenser, mainly, fast fill and time fill. Fast fill dispenser are suitable for light-duty vehicles such as cars and vans, whereas time fill dispensers are designed based on the requirement. All these factors influence the cost of installation of both the types.
|Market Size||2027: Significant Value|
|CAGR||7.70% CAGR (2020-2027)|
|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|
Frequently Asked Questions (FAQ) :
A 7.70% CAGR potential is estimated to boost the 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 APAC region is expected to steer the development of the market.
The upsurge in light-duty vehicle sales is estimated to define the market’s growth potential in the upcoming period.