Industry Background:
Liquefied natural gas (LNG) filling stations provide natural gas for refueling vehicles. It is consist of an LNG tank, submersible pump, pump skid, EAG heater, booster truck carburetor, plus liquid machine, and others. LNG has the potential to save fuel costs and reduce air pollution as compared to conventional diesel. Increasing government initiative towards promoting clean fuel vehicles owing to increasing greenhouse gas emissions driving the demand for LNG filling stations. Further, increasing demand from the developing economies expected to drive the demand for LNG filling stations for the forecasted period.
According to AMA Research, the market for LNG Filling Stations is expected to register a CAGR of 3.0% during the forecast period to 2030. This growth is primarily driven by Increasing Adoption of LNG as Transportation Fuel
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Attributes | Details |
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Study Period | 2019-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Oil & Gas Equipment & Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Cryostar (France), Clean Energy Fuels (United States), ENN Energy Holding (China), Kunlun Energy Company Limited (Hong Kong), FortisBC (Canada), ENGIE (France) and Sinopec (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In September 2023, Think Gas launched its 100th CNG station in Bhopal and its inaugural LNG dispensing terminal in Madhya Pradesh.
In March 2024, Primagaz, the French unit of Dutch firm SHV Energy, launched a new LNG fueling station for trucks.Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Regulatory Insights:
“According to the India Corporate Law, 2017 Amendment to the Central Motor Vehicles Rules, 1989, to include LNG as a fuel for automobiles, is the first giant step forward to revolutionize the use of LNG in the transport sector in India. The inclusion of LNG as an auto fuel legitimizes its use and subjects it to Government emission standards and regulation. Further, the amendment to the Petroleum and Natural Gas Regulatory Board (Authorising Entities to Lay, Build, Operate or Expand City or Local Natural Gas Distribution Networks) Regulations, 2008 has included LNG fuel stations under the definition of natural gas stations. It is significant to note that the 2018 Amendment to the Gas Cylinder Rules, 2016, (Amendment Rules) has also included Auto LNG (LNG meant for automotive fuel) under its regulatory framework.”
Influencing Trend:
Growing Demand of Natural Gases Owing to Rise in Greenhouse Gas Emission
Market Growth Drivers:
Increasing Adoption of LNG as Transportation Fuel and Rising Demand for Clean Fuel Vehicles
Challenges:
Lack of Awareness and Infrastructural Development in the Emerging Economies
Restraints:
Stringent Government Regulations Regarding LNG Filling Stations and High Initial Investment for LNG Filling Stations
Opportunities:
Increasing Demand of Mobile LNG Filling Stations for Small Fleet of Vehicles and Growing Demand from the Developing Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of LNG Filling Stations Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of LNG Filling Stations Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of LNG Filling Stations players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, LNG Filling Stations Study Sheds Light on
The LNG Filling Stations Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the LNG Filling Stations industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where LNG Filling Stations industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.