CNG Dispenser Market 2019 Industry Segmented by Type, Distribution, Trends, Current Scenario, Top Players, Demand and Scope by Forecast to 2023
According to the report by Market Research Future (MRFR), the global CNG dispenser market is poised to acquire a substantial market valuation at a moderate 7.70% CAGR over the review period. Global CNG Dispenser Market Segmented by Type, Distribution, and Regions.
Pune, India – September 16, 2019 /MarketersMedia/ —
The growing demand for CNG dispenser is attributed to the low running cost of natural gas vehicles. Moreover, stringent emission policies are also driving the market for CNG dispenser. One of the major restraints of the global CNG dispenser is easy availability and transition to biofuels which can hinder the market for CNG dispenser.
CNG dispenser is an alternative to conventional fuel dispenser. It shows the pressure and temperature going into a tank and then displays that how many gasoline gallon equivalents (GGEs) are going into a vehicle. In order to reduce the environmental footprint and decrease the fuel cost, the operators are moving towards natural gas.
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There are mainly two types of CNG dispenser, mainly, fast fill and time fill. Fast fill dispenser are suitable for light-duty vehicles such as cars and vans, whereas time fill dispensers are designed based on the requirement. All these factors influence the cost of installation of both the types.
Segmental Analysis
The global market for CNG dispenser has been segmented on the basis of type, distribution, and flow rate.
The types of CNG dispensers available in the market are fast filling and time filling. The distribution method of CNG dispensers includes company-owned & company-run, company-owned & dealer-run, and dealer-owned & dealer-run. The company-owned & company-run segment is estimated to account for the largest share owing to the increased profitability. Based on the flow rate, the global CNG dispenser market has been segmented into up to 50 kg/min, up to 15 kg/min, and up to 100 kg/min. The up to 100 kg/min segment is predicted to lead the market share over the review period, and record the highest growth rate, owing to the requirement of light-duty vehicles for quick tank refills. Moreover, owing to the operational improvement program for light-duty vehicles has resulted in cost reduction, and complexity in line is expected to fuel the growth of the CNG dispenser market.
Regional Analysis
On the basis of region, the global CNG dispenser market has been segmented into the Europe, Asia Pacific, North America, and the rest of the world (RoW).
North America is one of the major regional markets in the global CNG dispenser markets across the globe and is likely to witness remarkable growth over the review period. This is attributed to the government measures being undertaken for curbing emission levels in the region, especially in developed countries such as Canada, and the U.S., which established automotive markets.
Asia Pacific is one of the most important regional markets for CNG dispensers is expected to record a significant market share during the forecast period. Extensive diversity of industry verticals, including manufacturing, mining, oil & gas, textiles, and automation in the region, is projected to drive the CNG dispenser market in the Asia Pacific region. Asia Pacific is presently the primary market for CNG dispensers, followed by Europe. Increasing demand in the CNG vehicle is one of the significant critical drivers in the CNG dispenser market in this region. The primer of strict emission norms in India to restrict pollution is one of the chief drivers for market growth. India is one of the significant country-wise contributors across the globe, for the global CNG vehicles market with nearly about 60,000-70,000 units of CNG vehicles, which turns to drive increasing demand for CNG dispenser. The government has taken initiatives in favor of the growth of the CNG dispensers market, by exempting CNG vehicles from the strict regulatory reforms to control pollution, resulting in the growing adoption of CNG fitted cars. furthermore, the government is also focusing on the expansion of fuel stations selling natural gas, therefore allowing the motorists and personal car owners to shift to CNG.
Competitive Landscape
The major market players identified by MRFR in the global CNG dispenser market are Bennett (US), Censtar (China), Dover (US), FTI International (Canada), Fortive (US), Compac (US), Kraus (US), Lanfeng (China), Sanki (China), Parker (US), Scheidt & Bachmann (US), Tatsuno (Japan), Tulsa Gas Technologies (India), WEH (Germany).
Industry News
July 2019: GAIL Gas Ltd., a subsidiary of GAIL (India) Ltd., strengthened CNG infrastructure (cascades, compressors, dispensers, and others) in several districts in India, with the focus on Jharkhand and Karnataka districts.
June 2019: Tatsuno Europe, a leading global manufacturer, of fuel dispensers and other related solutions under Tatsuno Corporation, commenced production of fuel dispensers in the newly renovated factory set up in Blansko, Czech Republic. The factory was under renovation to incorporate advancements as the organization’s initiative to meet growing consumer expectations.
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