Machinery and Equipment
Cng Compressors Market | Contrive Datum Insights
CNG Compressors Market Size, Share & Trends Estimation Report By Type Outlook (Oil Injected, Oil Free), By Compressor Outlook (Dynamic Compressor, Positive Displacement Compressor, Piston Compressor, Rotary Screw Compressor, Others), By End User Outlook (Construction, Oil & Gas, Mining, Chemicals, Power Generation, Others), By Region, And Segment Forecasts, 2022 - 2030.
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The CNG Compressor Market Share is expected to exceed USD 5,072.6 million by 2030, at a CAGR of 5% during the forecast period.
CNG Compressors Market Overview
A CNG compressor is a machine that compresses natural gas and prepares it for transportation. It increases the volume of the fuel to 600 times its original size. Compressing gas reduces transportation costs, controls pollution, and helps reduce greenhouse gas emissions. CNG compressors are used to compress CNG, which is a mixture of methane and other products. These compressors have been developed for maximum efficiency, reliability, and durability in a variety of applications including pipeline transportation, fuel stations, and storage.
A CNG compressor is a machine that squeezes natural gas into a smaller size so it can be moved. It can make the fuel grow up to 600 times bigger than it was before. The compressed gas helps control pollution, cuts shipping costs, and reduces the amount of greenhouse gases that are released into the air. CNG Compressors are used to squeeze CNG, which is a mix of gas and other things. These compressors are made to be as efficient, reliable, and long-lasting as possible in a variety of settings, like pipeline transport, gas station use and storage.
Contrive Datum Insights has recently published the CNG Compressors Market to its huge database which helps to shape the future of businesses by making well-informed business decisions. It offers a comprehensive analysis of various business aspects such as global market trends, recent technological advancements, market size, shares, and new innovations. Furthermore, this analytical data has been compiled through data exploratory techniques such as primary and secondary research. Moreover, an expert team of researchers throws light on various static and dynamic aspects of the global CNG Compressors market.
Some of the key players profiled in the study are:
Different leading key players have been profiled to get better insights into the businesses. It offers detailed elaboration on different top-level industries which are functioning in global regions. It includes informative data such as company overview, contact information, and some significant strategies followed by key players:- Siemens
- Galileo Technologies
- Ingersoll Rand
- Atlas Copco
- Wärtsilä
- Exterran
- Chicago Pneumatic
- Kobelco
- MAN Turbo
- Ariel Corporation
- CIMC ENRIC
- Propak Systems
- Xian Shaangu Power
- Bauer Compressors
- Sinopec Oilfield Eouipment Corporation
- others
Key Vendors:
1. Siemens:It is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare.
2. Galileo Technologies:It is a leading company in the engineering and manufacturing of high-value-added energy solutions. it has been dedicated to expanding access to energy sources associated with carbon footprint reduction. Characterized by its modularity and scalability, Galileo’s technologies provide solutions for the production, distribution, and consumption of Compressed Natural Gas (CNG), Liquefied Natural Gas (LNG), Renewable Natural Gas (RNG), and Hydrogen (H2). With corporate offices in Buenos Aires (ARG) and New Jersey (USA), and service and training hubs in Texas (USA), Galileo Technologies.
3.Ingersoll Rand: Its driven by an entrepreneurial spirit and ownership mindset, is committed to helping make life better. We provide innovative and mission-critical industrial, energy, medical and specialty vehicle products and services across 40+ respected brands designed to excel in even the most complex and harsh conditions where downtime is especially costly. Our employees connect to customers for life by delivering proven expertise, productivity and efficiency improvements.
4.Wärtsilä:Its emphasise innovation in sustainable technology and services to help our customers continuously improve environmental and economic performance. We work together with our strong ecosystem of partners every day, providing a wide portfolio of leading technologies and innovative solutions that offer our customers superior uptime, reliability and foreseeable lifecycle costs across their operations.
By Type
- Oil Injected
- Oil Free
By Compressor
- Dynamic Compressor
- Positive Displacement Compressor
- Piston Compressor
- Rotary Screw Compressor
- Others
By End User
- Construction
- Oil & Gas
- Mining
- Chemicals
- Power Generation
- Others (including Pharmaceutical, Food & Beverages, and Transportation)
CNG Compressors Market Regional Insights:
North America provided the largest market share for the global CNG compressor market because of the high use of natural gas as an alternative fuel for automobiles, heavy vehicles, and generators. This is a major factor contributing to the growing demand for CNG in the region, further fueling the growth of compressor systems used in various industries such as chemical storage facilities.
Growing demand for compressed natural gas in countries such as Europe, Germany, and Italy is a key factor driving the growth of this market globally. Apart from this, increasing public awareness about environmental pollution caused by fossil fuel usage in various industries has further increased the use of clean energy sources including natural gas and is expected to drive growth over the forecast period.
Asia Pacific contributed a high revenue share in the global CNG compressor market, owing to increasing investments by automotive companies to improve vehicle emission standards across the region.
Growing demand for CNG in countries such as UAE and Saudi Arabia is a key factor driving the growth of this market globally. Apart from this, increasing investment in the automotive industry in various regions is expected to boost the demand further during the forecast period.
Geographically, the global CNG Compressors market has been analyzed in various regions such as North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. The global region is dominating this market in the upcoming future.
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Belgium
- The Netherlands
- Luxembourg
- Germany
- France
- Italy
- Spain
- UK
- Nordic Countries
- Benelux Union
- Rest of Europe
- Asia-Pacific
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Japan
- China
- India
- Australia
- South Korea
- Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Market Dynamics:
Drivers:
Natural gas is becoming more popular as a fuel source because it burns cleanly and costs less than other fossil fuels. This has caused the CNG market to grow, which has made more people want to buy CNG compressors.
Government programmes that encourage the use of CNG: Governments all over the world are encouraging the use of CNG as a way to cut down on greenhouse gas emissions and improve the quality of the air. Because of this, good policies and rules have been put in place, which is expected to drive the growth of the CNG compressors market.
More people are buying cars that run on compressed natural gas (CNG) because they are cheaper to run and put out less pollution. Because of this, the infrastructure for refuelling CNG vehicles has grown, which is driving the demand for CNG compressors.
Restraints and Challenges:
High initial investment: CNG compressors have to be installed with a lot of money up front, which may turn off some potential buyers.
Limited natural gas infrastructure: The growth of the CNG market depends on the availability of the pipelines, refuelling stations, and storage facilities that are needed. If there isn't enough of this kind of infrastructure, it could slow down the growth of the market.
Alternative fuels are becoming a threat to natural gas. Natural gas is a clean and cheap fuel, but electric and hydrogen are also becoming more popular. This could make people in the alternative fuel segment compete for market share.
Scope of Report :
| Report Attribute | Details |
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Estimated year | 2023 |
| Forecast period | 2023-2030 |
| Historic Period | 2017-2022 |
| Units | USD 5,072.6 million |
| Growth Rate | CAGR of 5% from 2023 to 2030 |
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By Application |
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| By End User |
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