Compressed Natural Gas (CNG) Market Estimate, Demand Forecast To 2020: Grand View Research, Inc.12/9/2014 Global compressed natural gas (CNG) market is anticipated to reach USD 129.77 billion by 2020, according to a new study by Grand View Research, Inc. Growth of global natural gas vehicles (NGVs) industry coupled with increased automobile fuel efficiency attributed by CNG is anticipated to remain a key driving factor for the global market. Government subsidiaries in form of financial incentives particularly in Asia Pacific and Latin America is also expected to have a positive impact on the market growth. Positive outlook on exploration of unconventional resources including shale gas particularly in U.S. and China is expected to provide growth opportunities for market participants. High initial investment for CNG automobile storage tanks is expected to remain a key challenge for market participants over the forecast period. Increasing R&D expenditure by automobile manufactures on developing dual fuel engines is expected to remain a critical success factor over the next six years.
Non-associated gas emerged as leading source for CNG and accounted for 89.9% of total market volume in 2013. Increasing drilling activities particularly in Middle East is expected to ensure continuous supply of non-associated gases for CNG over the forecast period. Unconventional methods are expected to be the most lucrative source segment growing at an estimated CAGR of 28% from 2014 to 2020. To request a sample copy or view summary of this report, click the link below: http://www.grandviewresearch.com/industry-analysis/compressed-natural-gas-cng-market Further key findings from the study suggest:
Browse All Reports of this category @ http://www.grandviewresearch.com/industry/conventional-energy For the purpose of this study, Grand View Research has segmented the CNG market on the basis of source, application and region: Global Compressed Natural Gas (CNG) Source Outlook (Volume, MCM; Revenue, USD Billion, 2012 – 2020) • Non-Associated Gas • Associated Gas • Unconventional Methods Global Compressed Natural Gas (CNG) Application Outlook (Volume, MCM; Revenue, USD Billion, 2012 – 2020) • Light Duty Vehicles • Medium/Heavy Duty Buses • Medium/Heavy Duty Trucks • Others Global Compressed Natural Gas (CNG) Regional Outlook (Volume, MCM; Revenue, USD Billion, 2012 – 2020) • North America • Europe • Asia Pacific • Middle East & Africa • Central & South America About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy. Contact: Sherry James Corporate Sales Specialist, U.S.A. Grand View Research, Inc. United States Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected] Website: Grand View Research Blog Site: http://marketshare.blog.com/
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7/26/2023 04:35:09 am
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