“Increasing demand for cleaner fuels will be one of the key factors that will have a positive impact on market growth”, says Visiongain
29 November 2019
The Natural Gas Refueling Stations Market Report 2020-2030: Forecasts By Technology (Compressed Natural Gas Stations, Liquefied Natural Gas Stations), By Application (Natural Gas Vehicles (NGV), Large CNG Sub Station Vehicles, Ships, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry.
Data research on the global market for natural gas refueling stations indicates that increasing demand for cleaner fuels will be one of the key factors that will have a positive impact on market growth. In line with increased economic activity, CO2 emissions have risen and there is a growing concern around CO2 emissions. Because the combustion of natural gas results in lower pollution, the transport sector is growing its use. This in effect would boost the need for refueling stations for natural gas, stimulating the development of the industry.
With respect to geographic regions, during 2016, APAC led to the highest sales on the sector for natural gas stations. The growing concern over rising air emissions and its impact on people's safety causes the need to embrace alternative fuels that are less environmentally harmful. To order to reduce their dependence on fossil fuels, most countries ' policy has already taken steps to invest in renewable energy and low carbon technologies.
The market is highly dynamic and has a significant number of suppliers in attendance. The vendors on the market differ depending on the nation in which they work in the design, manufacturing and deployment guidelines. The companies offer solutions such as charging vehicles, as well as different parts like compressors and gas dispensers.
The CNG group accounted for the major natural gas station market shares throughout 2019. The growing demand for passenger vehicles and recognition of CNG's advantages over other fuels has led to an increase in the number of CNG vehicles. This in turn led to the need for refueling stations for CNG.
Natural gas is generated using either traditional or sustainable technologies. In the transportation sector, it is a clean-burning alternative fuel and must be condensed and liquefied for automobile use. In most situations, CNG is distributed via the current supply of natural gas to the refueling stations and at the pump is condensed. LNG is cooled and kept in its liquid state and for use in cars it must be transformed to fuel again. CNG is used mainly for small to medium-sized cars and in heavy-duty vehicles to some degree. It is more popular for CNG refueling stations than for LNG refueling stations.
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