The CNG dispenser market is projected to grow at a CAGR of 7.76% from 2018 to 2023
LONDON, Sept. 19, 2018 /PRNewswire/ -- The CNG dispenser market is projected to grow at a CAGR of 7.76% from 2018 to 2023.
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The CNG dispenser market is projected to reach USD 225.5 million by 2023, at a CAGR of 7.76%, from an estimated USD 155.2 million in 2018, at a CAGR of 7.76%, from 2018 to 2023. Stringent emission policies in prominent countries and rise in demand for natural gas vehicles are the major drivers that would trigger growth in the CNG dispenser market. Easy transition to biofuels can hinder the growth of the CNG dispenser market.
The fast fill segment is expected to grow at the highest CAGR from 2018 to 2023.
The fast fill segment is expected to grow at the highest CAGR during the forecast period. The fast fill stations are primarily for light-duty vehicles such as vans, pickups, and sedans, which arrive randomly and need to fill up quickly, and hence is expected to offer a lucrative opportunity for the CNG dispenser market.
The up to 100 kg/min segment is expected to grow at the highest CAGR from 2018 to 2023.
The up to 100 kg/min segment is expected to grow at the highest CAGR during the forecast period.The higher flow rate of the dispenser helps fill the tanks faster.
The flow rate of the dispenser is configured on the basis of station requirements and the type of vehicles serviced. These factors are likely to boost the demand for the CNG dispenser market.
Asia Pacific: The largest market for CNG dispenser
Asia Pacific is currently the largest market for CNG dispensers, followed by Europe.A wide variety of industries such as manufacturing, mining, oil & gas, textiles, and automation in the region is expected to drive the CNG dispenser market in the Asia Pacific region during the forecast period.
China accounted for the largest share of the CNG dispenser market in the Asia Pacific region in 2017.The country showed a significant growth in the number of refueling stations.
Moreover, the country has tightened its environmental policy by shifting focus from new heavy-duty vehicles to new gas trucks. Thus, the growing focus on environmental safety will drive the CNG dispenser market in China.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects. The distribution of primary interviews is as follows:
-- By Company Type: Tier 1 - 35%, Tier 2 - 45%, Tier 3 - 20%
-- By Designation: C-Level - 35%, Manager-Level - 25%, and Others - 40%
-- By Region: North America - 45%, Asia Pacific - 27%, Europe - 20%, Rest of the World - 10%
Note: Others includes product managers, marketing managers, and sales managers.
Note: Others includes sales managers, marketing managers, product managers, and product engineers
The tier of the companies is defined on the basis of their total revenue as of 2017; Tier 1: USD 1 billion, Tier 2: From USD 1 billion to USD 500 million, and Tier 3:
The leading players in the CNG dispenser market include Bennett (US), Censtar (China), Compac (New Zealand), FTI (Canada), Kraus (Canada), Lanfeng (China), Sanki (China), Scheidt & Bachmann (Germany), Tulsa (India), Tatsuno (Japan), Dover (US), Parker (US), and Fortive (US).
Research Coverage:
The report defines, describes, and forecasts the global CNG dispenser market by type, distribution, flow rate, and region.It also offers a detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.It also covers various important aspects of the market.
These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends of the CNG dispense market.
Why buy this report?
1. The report identifies and addresses key markets for CNG dispenser, which would help manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provide insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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