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Fossil FuelLNG

PUBLISHER: Grand View Research | PRODUCT CODE: 1554185

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PUBLISHER: Grand View Research | PRODUCT CODE: 1554185

Compressed Natural Gas Market Size, Share & Trends Analysis Report By Source (Refinery, Associated Gas, Non Associated Gas), By Application (Chemical), By End Use, By Region, And Segment Forecasts, 2024 - 2030

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Table of Contents

Compressed Natural Gas Market Growth & Trends:

The global compressed natural gas market size is anticipated to reach USD 345.3 billion by 2030, registering a CAGR of 11.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growth of global natural gas vehicles (NGVs) industry coupled with increased automobile fuel efficiency attributed by compressed natural gas (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 55.0% of total market volume in 2023. Increasing drilling activities particularly in Middle East is expected to ensure continuous supply of non-associated gases for CNG over the forecast period.

Compressed Natural Gas Market Report Highlights:

  • Light duty vehicles (LDV) were the largest CNG consuming segment and accounted for 64.5% of total market volume in 2023. Growth of passenger cars particularly in emerging markets of BRICS is expected to drive this segment. LDV is also expected to witness the highest growth rate over the forecast period. The segment is expected to grow at an estimated CAGR of 11.5% from 2024 to 2030.
  • Asia Pacific was the leading regional CNG market and is expected to continue its dominance over the next six years in the global market. The region accounted for 48.3% of total market volume in 2023. Positive outlook on the automotive industry coupled with government support to promote the use of alternative transportation fuel particularly in China and India is expected to drive the regional CNG market.
  • Highly fragmented CNG industry participants compete on the basis of price differentiation across various regions. Major industry participants operating in the global CNG market include National Iranian Gas Comp, Indraprastha Gas Ltd (IGL), China Natural Gas Inc and Mahanagar gas Ltd (MNGL).
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Product Code: 978-1-68038-290-7

Table of Contents

Chapter 1. Methodology and Scope

  • 1.1. Market Segmentation and Scope
  • 1.2. Market Definitions
  • 1.3. Research Methodology
    • 1.3.1. Information Procurement
    • 1.3.2. Information or Data Analysis
    • 1.3.3. Market Formulation & Data Visualization
    • 1.3.4. Data Validation & Publishing
  • 1.4. Research Scope and Assumptions
    • 1.4.1. List of Data Sources

Chapter 2. Executive Summary

  • 2.1. Market Outlook
  • 2.2. Segment Outlook
  • 2.3. Competitive Insights

Chapter 3. Compressed Natural Gas Market Variables, Trends, & Scope

  • 3.1. Market Introduction/Lineage Outlook
  • 3.2. Market Size and Growth Prospects (USD Billion) (Volume in Million Tons)
  • 3.3. Market Dynamics
    • 3.3.1. Market Drivers Analysis
    • 3.3.2. Market Restraints Analysis
  • 3.4. Compressed Natural Gas Market Analysis Tools
    • 3.4.1. Porter's Analysis
      • 3.4.1.1. Bargaining power of the suppliers
      • 3.4.1.2. Bargaining power of the buyers
      • 3.4.1.3. Threats of substitution
      • 3.4.1.4. Threats from new entrants
      • 3.4.1.5. Competitive rivalry
    • 3.4.2. PESTEL Analysis
      • 3.4.2.1. Political landscape
      • 3.4.2.2. Economic and Social landscape
      • 3.4.2.3. Technological landscape
      • 3.4.2.4. Environmental landscape
      • 3.4.2.5. Legal landscape

Chapter 4. Compressed Natural Gas Market: Source Estimates & Trend Analysis

  • 4.1. Segment Dashboard
  • 4.2. Compressed Natural Gas Market: Source Movement Analysis, 2023 & 2030 (USD Billion) (Volume in Million Tons)
  • 4.3. Refinery
    • 4.3.1. Refinery Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 4.4. Associated Gas
    • 4.4.1. Associated Gas Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 4.5. Non Associated Gas
    • 4.5.1. Non Associated Gas Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)

Chapter 5. Compressed Natural Gas Market: Application Estimates & Trend Analysis

  • 5.1. Segment Dashboard
  • 5.2. Compressed Natural Gas Market: Application Movement Analysis, 2023 & 2030 (USD Billion) (Volume in Million Tons)
  • 5.3. Residential / Commercial
    • 5.3.1. Residential/Commercial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 5.4. Chemical
    • 5.4.1. Chemical Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 5.5. Industrial
    • 5.5.1. Industrial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 5.6. Auto Gas
    • 5.6.1. Auto gas Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 5.7. Refinery
    • 5.7.1. Refinery Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 5.8. Other Applications
    • 5.8.1. Other Applications Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)

Chapter 6. Compressed Natural Gas Market: End Use Estimates & Trend Analysis

  • 6.1. Segment Dashboard
  • 6.2. Compressed Natural Gas Market: End Use Movement Analysis, 2023 & 2030 (USD Billion) (Volume in Million Tons)
  • 6.3. Light Duty Vehicles
    • 6.3.1. Light Duty Vehicles Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 6.4. Medium / Heavy Duty Trucks
    • 6.4.1. Medium / Heavy Duty Trucks Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 6.5. Medium / Heavy Duty Buses
    • 6.5.1. Medium / Heavy Duty Buses Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 6.6. Other End Uses
    • 6.6.1. Other End Uses Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)

Chapter 7. Compressed Natural Gas Market: Regional Estimates & Trend Analysis

  • 7.1. Compressed Natural Gas Market Share, By Region, 2023 & 2030 (USD Billion) (Volume in Million Tons)
  • 7.2. North America
    • 7.2.1. North America Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.2.2. U.S.
      • 7.2.2.1. U.S. Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.2.3. Canada
      • 7.2.3.1. Canada Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.2.4. Mexico
      • 7.2.4.1. Mexico Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 7.3. Europe
    • 7.3.1. Europe Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.3.2. UK
      • 7.3.2.1. UK Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.3.3. Germany
      • 7.3.3.1. Germany Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.3.4. France
      • 7.3.4.1. France Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.3.5. Italy
      • 7.3.5.1. Italy Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.3.6. Spain
      • 7.3.6.1. Spain Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.3.7. Russia
      • 7.3.7.1. Russia Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.3.8. Netherlands
      • 7.3.8.1. Netherlands Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.3.9. Norway
      • 7.3.9.1. Norway Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 7.4. Asia Pacific
    • 7.4.1. Asia Pacific Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.4.2. China
      • 7.4.2.1. China Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.4.3. India
      • 7.4.3.1. India Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.4.4. Japan
      • 7.4.4.1. Japan Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.4.5. Australia
      • 7.4.5.1. Australia Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.4.6. South Korea
      • 7.4.6.1. South Korea Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.4.7. Indonesia
      • 7.4.7.1. Indonesia Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.4.8. Malaysia
      • 7.4.8.1. Malaysia Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 7.5. Latin America
    • 7.5.1. Latin America Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.5.2. Brazil
      • 7.5.2.1. Brazil Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.5.3. Argentina
      • 7.5.3.1. Argentina Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.5.4. Venezuela
      • 7.5.4.1. Venezuela Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
  • 7.6. Middle East and Africa
    • 7.6.1. Middle East and Africa Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.6.2. South Africa
      • 7.6.2.1. South Africa Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.6.3. Saudi Arabia
      • 7.6.3.1. Saudi Arabia Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.6.4. UAE
      • 7.6.4.1. UAE Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.6.5. Qatar
      • 7.6.5.1. Qatar Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)
    • 7.6.6. Kuwait
      • 7.6.6.1. Kuwait Compressed Natural Gas Market Estimates and Forecasts, 2018 - 2030 (USD Billion) (Volume in Million Tons)

Chapter 8. Competitive Landscape

  • 8.1. Recent Developments & Impact Analysis by Key Market Participants
  • 8.2. Company Categorization
  • 8.3. Company Heat Map Analysis
  • 8.4. Company Profiles
    • 8.4.1. ExxonMobil Corporation
      • 8.4.1.1. Participant's Overview
      • 8.4.1.2. Financial Performance
      • 8.4.1.3. Product Benchmarking
      • 8.4.1.4. Recent Developments/Strategic Initiatives
    • 8.4.2. BP plc
      • 8.4.2.1. Participant's Overview
      • 8.4.2.2. Financial Performance
      • 8.4.2.3. Product Benchmarking
      • 8.4.2.4. Recent Developments/Strategic Initiatives
    • 8.4.3. TotalEnergies SE
      • 8.4.3.1. Participant's Overview
      • 8.4.3.2. Financial Performance
      • 8.4.3.3. Product Benchmarking
      • 8.4.3.4. Recent Developments/Strategic Initiatives
    • 8.4.4. Chevron Corporation
      • 8.4.4.1. Participant's Overview
      • 8.4.4.2. Financial Performance
      • 8.4.4.3. Product Benchmarking
      • 8.4.4.4. Recent Developments/Strategic Initiatives
    • 8.4.5. Eni S.p.A.
      • 8.4.5.1. Participant's Overview
      • 8.4.5.2. Financial Performance
      • 8.4.5.3. Product Benchmarking
      • 8.4.5.4. Recent Developments/Strategic Initiatives
    • 8.4.6. Equinor ASA
      • 8.4.6.1. Participant's Overview
      • 8.4.6.2. Financial Performance
      • 8.4.6.3. Product Benchmarking
      • 8.4.6.4. Recent Developments/Strategic Initiatives
    • 8.4.7. ConocoPhillips Company
      • 8.4.7.1. Participant's Overview
      • 8.4.7.2. Financial Performance
      • 8.4.7.3. Product Benchmarking
      • 8.4.7.4. Recent Developments/Strategic Initiatives
    • 8.4.8. Cabot Oil & Gas LLC
      • 8.4.8.1. Participant's Overview
      • 8.4.8.2. Financial Performance
      • 8.4.8.3. Product Benchmarking
      • 8.4.8.4. Recent Developments/Strategic Initiatives
    • 8.4.9. Gazprom PAO
      • 8.4.9.1. Participant's Overview
      • 8.4.9.2. Financial Performance
      • 8.4.9.3. Product Benchmarking
      • 8.4.9.4. Recent Developments/Strategic Initiatives
    • 8.4.10. Shell plc
      • 8.4.10.1. Participant's Overview
      • 8.4.10.2. Financial Performance
      • 8.4.10.3. Product Benchmarking
      • 8.4.10.4. Recent Developments/Strategic Initiatives
    • 8.4.11. Occidental Petroleum Corporation
      • 8.4.11.1. Participant's Overview
      • 8.4.11.2. Financial Performance
      • 8.4.11.3. Product Benchmarking
      • 8.4.11.4. Recent Developments/Strategic Initiatives
    • 8.4.12. JW Power Company
      • 8.4.12.1. Participant's Overview
      • 8.4.12.2. Financial Performance
      • 8.4.12.3. Product Benchmarking
      • 8.4.12.4. Recent Developments/Strategic Initiatives
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