What is Global Compressed Natural Gas (CNG) Compressors Market?
The Global Compressed Natural Gas (CNG) Compressors Market is a vast and dynamic sector that has been gaining significant traction in recent years. Compressed Natural Gas (CNG) Compressors are essential components in the natural gas industry, playing a crucial role in the compression of natural gas to reduce its volume and make it suitable for transportation and storage. The global market for these compressors is vast, encompassing a wide range of applications and industries. The market's value was estimated at US$ 4607.9 million in 2022, and it is projected to reach US$ 5717.1 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period from 2023 to 2029.
Reciprocating Type, Rotary Type in the Global Compressed Natural Gas (CNG) Compressors Market:
The Global Compressed Natural Gas (CNG) Compressors Market is segmented based on the type of compressor, with the two main types being Reciprocating Type and Rotary Type. Reciprocating Type compressors are characterized by their piston-driven design and are commonly used in applications where high pressure is required. On the other hand, Rotary Type compressors, which utilize rotating elements to compress the gas, are typically used in applications where large volumes of gas need to be compressed. Both types of compressors have their unique advantages and are chosen based on the specific requirements of the application.
Pipeline Transportation, Gas Storage, Gas Station, Others in the Global Compressed Natural Gas (CNG) Compressors Market:
The Global Compressed Natural Gas (CNG) Compressors Market finds extensive usage in several areas, including Pipeline Transportation, Gas Storage, Gas Station, and Others. In Pipeline Transportation, these compressors are used to compress the natural gas to a suitable pressure for transportation through pipelines. In Gas Storage, they are used to compress the gas for efficient storage. At Gas Stations, these compressors are used to compress the gas for dispensing to vehicles. Other applications include industries where compressed natural gas is used as a fuel or raw material.
Global Compressed Natural Gas (CNG) Compressors Market Outlook:
The market outlook for the Global Compressed Natural Gas (CNG) Compressors Market is promising. The market was valued at US$ 4607.9 million in 2022 and is expected to reach US$ 5717.1 million by 2029, growing at a CAGR of 3.2% during the forecast period 2023-2029. The market is dominated by the top three players, who collectively hold a market share of around 38%. Geographically, Europe is the largest market, accounting for about 35% of the global market share, followed by the Americas and Asia-Pacific, with market shares of 31% and 30%, respectively.
| Report Metric | Details |
| Report Name | Compressed Natural Gas (CNG) Compressors Market |
| Accounted market size in 2022 | US$ 4607.9 in million |
| Forecasted market size in 2029 | US$ 5717.1 million |
| CAGR | 3.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Siemens, Atlas Copco, MAN Energy Solutions, Kobelco, Exterran, Ingersoll Rand, Burckhardt, Ariel Corporation, Sinopec Oilfield, Xian Shaangu Power, Shenyang Blower Works Group, CIMC ENRIC, Bauer, CNPC Jichai Power Company, ANGI Energy Systems |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
