About CNG Compressors
A CNG compressor is a mechanical device that increases the pressure of compressed natural gas (CNG). CNG is a natural gas that has been compressed to about 1/400th of its original volume, making it easier to store and transport. These compressors have been developed for maximum efficiency, reliability, and durability in a variety of applications including pipeline transportation, fuel stations, and storage. CNG is used as a clean and economical alternative fuel for vehicles like buses, trucks, taxis and personal cars. The CNG compressors market has been growing steadily owing to rising adoption of natural gas as a cleaner alternative to conventional fuels.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.6% |
The CNG compressor market is a competitive landscape with established players and emerging trends shaping the future. Continuous innovation, diversification, and focus on sustainability will be key factors for success in this promising market. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global CNG Compressors market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ariel Corporation (United States), Atlas Copco (Sweden), J-W Energy Company (United States), Bauer Compressors (Germany), Wartsila (Finland), CIMC Enric (China), Kobelco Compressors America (United States), Nuovo Pignone (Italy), Associated Compressor Engineers (United States) and TechnipFMC (New Zealand) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Mark Compressors (India), IHI Corporation (Japan), Knox Western (United States), Hamworthy Compressors (Norway) and Elliott Company (United States).
Segmentation Overview
AMA Research has segmented the market of Global CNG Compressors market by Type (Reciprocating, Screw and Centrifugal), Application (Industrial, Pipeline Transportation, Gas Storage and Others) and Region.
On the basis of geography, the market of CNG Compressors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Construction will boost the CNG Compressors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. OEM will boost the CNG Compressors market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand of Natural Gas Vehicles (NGVs)
Market Growth Drivers:
Growing Demand Natural gases and Increasing Environmental concern and regulation led to rising of adoption of CNG clear fuel.
Challenges:
Growing focus on renewable energy sources
Restraints:
Natural gas prices is highly volatile
Opportunities:
Increasing Demand for CNG Vehicles and Advancements in Compressor Technology
Market Leaders and their expansionary development strategies
In February 2023, Sulzer acquired the privately held CNG compressor company Ariel Corporation. In a major move, Sulzer, a Swiss industrial engineering and technology company, acquired Ariel Corporation, a leading American manufacturer of reciprocating compressors and natural gas engines.
In July 2023, Wartsila introduced its Smart Optimizations Services for CNG compressors, focusing on remote monitoring and performance optimization. These services leverage digital technologies to ensure optimal compressor operation, minimizing downtime and maximizing efficiency.
Key Target Audience
Natural Gas Vehicle Refueling Stations, Natural Gas Distribution, Market Consultancy and Firm, Industrial Applications, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.