Global Compressed Natural Gas Market Size Study, By Source, By Application, By End-Use, and Regional Forecasts 2022-2032

Description

The global compressed natural gas (CNG) market was valued at approximately USD 159.9 billion in 2023 and is anticipated to grow at a CAGR of 11.7% over the forecast period 2024-2032. The increasing demand for cleaner fuel alternatives, coupled with stringent government emission regulations, is driving the adoption of CNG as a sustainable energy source across multiple industries. CNG has emerged as a cost-effective and environmentally friendly substitute for conventional fossil fuels such as gasoline and diesel, making it an attractive option in both automotive and industrial applications.

With volatile crude oil prices and growing concerns over carbon emissions, CNG adoption is accelerating globally. The transportation sector remains a major consumer of CNG, with increasing numbers of light-duty and heavy-duty vehicles being converted to natural gas. Several governments are offering subsidies and incentives to promote CNG refueling infrastructure, and major oil & gas companies are investing in CNG distribution networks to expand accessibility. The rising production of non-associated gas and advancements in CNG storage and fueling technologies are also propelling market growth.

CNG is witnessing high demand in emerging economies such as India, China, and Brazil, where rapid urbanization and industrialization are driving fuel consumption. Asia-Pacific dominates the global CNG market, accounting for 48.3% of the total revenue share in 2023. Meanwhile, North America and Europe are experiencing a surge in CNG adoption, primarily due to favorable government policies and a growing inclination toward green energy solutions.

The market is also benefitting from technological advancements in CNG engine designs, fuel injection systems, and storage solutions, which enhance vehicle performance and expand the scope of CNG applications across industries. Furthermore, oil & gas companies are increasingly investing in CNG refueling stations and strategic partnerships to accelerate adoption. With the continued push for sustainability, the global CNG market is poised for robust growth over the forecast period.

Major Market Players Included in this Report:

ExxonMobil Corporation
BP plc
TotalEnergies SE
Chevron Corporation
Eni S.p.A.
Equinor ASA
ConocoPhillips Company
Shell plc
Gazprom PAO
Occidental Petroleum Corporation
JW Power Company
National Iranian Gas Company
Indraprastha Gas Limited
Phillips 66 Company
Cabot Oil & Gas LLC

The detailed segments and sub-segments of the market are explained below:

By Source:

Refinery
Associated Gas
Non-Associated Gas

By Application:

Residential/Commercial
Chemical
Industrial
Auto Gas
Refinery
Other Applications

By End-Use:

Light Duty Vehicles
Medium / Heavy Duty Trucks
Medium / Heavy Duty Buses
Other End-Uses

By Region:

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Russia
Netherlands
Norway
Asia-Pacific
China
India
Japan
Australia
South Korea
Indonesia
Malaysia
Latin America
Brazil
Argentina
Venezuela
Middle East & Africa
South Africa
Saudi Arabia
UAE
Qatar
Kuwait

Years considered for the study are as follows:

Historical Year - 2022
Base Year - 2023
Forecast Period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years (2022-2032).
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of the geographical landscape with country-level insights.
Competitive landscape with market share insights on key players.
Strategic recommendations for future market approach.
Demand-side and supply-side market analysis.

Chapter 1. Global Compressed Natural Gas Market Executive Summary

1.1. Global Compressed Natural Gas Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Source
- 1.3.2. By Application
- 1.3.3. By End-Use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Compressed Natural Gas Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Compressed Natural Gas Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Demand for Cleaner Fuel Alternatives
- 3.1.2. Government Regulations Favoring CNG Adoption
- 3.1.3. Increasing Fuel Costs Driving CNG Adoption in Transportation
3.2. Market Challenges
- 3.2.1. High Initial Infrastructure Investment Costs
- 3.2.2. Limited Availability of Refueling Stations
3.3. Market Opportunities
- 3.3.1. Advancements in CNG Storage Technology
- 3.3.2. Expansion of CNG Infrastructure in Developing Economies
- 3.3.3. Growing Demand for CNG in Industrial Applications

Chapter 4. Global Compressed Natural Gas Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economic
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Compressed Natural Gas Market Size & Forecasts by Source (2022-2032)

5.1. Segment Dashboard
5.2. Global Compressed Natural Gas Market: Source Revenue Trend Analysis, 2022 & 2032
- 5.2.1. Refinery
- 5.2.2. Associated Gas
- 5.2.3. Non-Associated Gas

Chapter 6. Global Compressed Natural Gas Market Size & Forecasts by Application (2022-2032)

6.1. Segment Dashboard
6.2. Global Compressed Natural Gas Market: Application Revenue Trend Analysis, 2022 & 2032
- 6.2.1. Residential / Commercial
- 6.2.2. Chemical
- 6.2.3. Industrial
- 6.2.4. Auto Gas
- 6.2.5. Refinery
- 6.2.6. Other Applications

Chapter 7. Global Compressed Natural Gas Market Size & Forecasts by End Use (2022-2032)

7.1. Segment Dashboard
7.2. Global Compressed Natural Gas Market: End Use Revenue Trend Analysis, 2022 & 2032
- 7.2.1. Light Duty Vehicles
- 7.2.2. Medium / Heavy Duty Trucks
- 7.2.3. Medium / Heavy Duty Buses
- 7.2.4. Other End Uses

Chapter 8. Global Compressed Natural Gas Market Size & Forecasts by Region (2022-2032)

8.1. North America Compressed Natural Gas Market
- 8.1.1. U.S. Compressed Natural Gas Market
  - 8.1.1.1. Source Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.2. Application Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.3. End-Use Breakdown Size & Forecasts, 2022-2032
- 8.1.2. Canada Compressed Natural Gas Market
- 8.1.3. Mexico Compressed Natural Gas Market
8.2. Europe Compressed Natural Gas Market
- 8.2.1. UK Compressed Natural Gas Market
- 8.2.2. Germany Compressed Natural Gas Market
- 8.2.3. France Compressed Natural Gas Market
- 8.2.4. Italy Compressed Natural Gas Market
- 8.2.5. Spain Compressed Natural Gas Market
- 8.2.6. Russia Compressed Natural Gas Market
- 8.2.7. Netherlands Compressed Natural Gas Market
- 8.2.8. Norway Compressed Natural Gas Market
8.3. Asia-Pacific Compressed Natural Gas Market
- 8.3.1. China Compressed Natural Gas Market
- 8.3.2. India Compressed Natural Gas Market
- 8.3.3. Japan Compressed Natural Gas Market
- 8.3.4. Australia Compressed Natural Gas Market
- 8.3.5. South Korea Compressed Natural Gas Market
- 8.3.6. Indonesia Compressed Natural Gas Market
- 8.3.7. Malaysia Compressed Natural Gas Market
8.4. Latin America Compressed Natural Gas Market
- 8.4.1. Brazil Compressed Natural Gas Market
- 8.4.2. Argentina Compressed Natural Gas Market
- 8.4.3. Venezuela Compressed Natural Gas Market
8.5. Middle East & Africa Compressed Natural Gas Market
- 8.5.1. South Africa Compressed Natural Gas Market
- 8.5.2. Saudi Arabia Compressed Natural Gas Market
- 8.5.3. UAE Compressed Natural Gas Market
- 8.5.4. Qatar Compressed Natural Gas Market
- 8.5.5. Kuwait Compressed Natural Gas Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. ExxonMobil Corporation
- 9.1.2. BP plc
- 9.1.3. Shell plc
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Chevron Corporation
- 9.3.2. TotalEnergies SE
- 9.3.3. Eni S.p.A.
- 9.3.4. Equinor ASA
- 9.3.5. ConocoPhillips Company
- 9.3.6. Cabot Oil & Gas LLC
- 9.3.7. Gazprom PAO
- 9.3.8. Occidental Petroleum Corporation
- 9.3.9. JW Power Company

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes