The compressed natural gas (CNG) market is forecasted to grow by USD 32280 million during 2024-2029, accelerating at a CAGR of 9% during the forecast period. The report on the compressed natural gas (CNG) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in number of CNG-powered vehicles, increase in demand for cleaner transportation fuels, and increased government support for adoption of CNG.
Market Scope
Base Year
2025
End Year
2029
Series Year
2025-2029
Growth Momentum
Accelerate
YOY 2025
8%
CAGR
9%
Incremental Value
$32280 mn
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.
Technavio's compressed natural gas (CNG) market is segmented as below:
By Application
LDV
MDV and HDV
By Source
Non associated gas
Unconventional gas
Associated gas
By Geographical Landscape
APAC
Middle East and Africa
South America
Europe
North America
This study identifies the increase in supply of natural gas as one of the prime reasons driving the compressed natural gas (CNG) market growth during the next few years. Also, rising energy demand leading to improvements in CNG storage tanks and technological advances in global CNG market will lead to sizable demand in the market.
The report on the compressed natural gas (CNG) market covers the following areas:
Compressed Natural Gas (CNG) Market sizing
Compressed Natural Gas (CNG) Market forecast
Compressed Natural Gas (CNG) Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading compressed natural gas (CNG) market vendors that include Bharat Petroleum Corp. Ltd., BP PLC, Chevron Corp., China National Petroleum Corp., Clean Energy Fuels Corp., CNG Fuels Ltd., E.ON SE, ENGIE SA, Eni SpA, Gazprom Nedra LLC, Gujarat Gas Ltd., Indraprastha Gas Ltd., Maharashtra Natural Gas Ltd., ONTRAS Gastransport GmbH, OrangeGas BV., Shell PLC, Snam SPA, TotalEnergies SE, Trillium Transportation Fuels LLC, and VERBIO Vereinigte BioEnergie AG. Also, the compressed natural gas (CNG) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Application
Executive Summary - Chart on Market Segmentation by Source
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
Overview on criticality of inputs and factors of differentiation
2.3 Factors of disruption
Overview on factors of disruption
2.4 Impact of drivers and challenges
Impact of drivers and challenges in 2024 and 2029
3 Market Landscape
3.1 Market ecosystem
Parent Market
Data Table on - Parent Market
3.2 Market characteristics
Market characteristics analysis
3.3 Value chain analysis
Value chain analysis
4 Market Sizing
4.1 Market definition
Offerings of companies included in the market definition
4.2 Market segment analysis
Market segments
4.3 Market size 2024
4.4 Market outlook: Forecast for 2024-2029
Chart on Global - Market size and forecast 2024-2029 ($ million)
Data Table on Global - Market size and forecast 2024-2029 ($ million)
Chart on Global Market: Year-over-year growth 2024-2029 (%)
Data Table on Global Market: Year-over-year growth 2024-2029 (%)
5 Historic Market Size
5.1 Global Compressed Natural Gas (CNG) Market 2019 - 2023
Historic Market Size - Data Table on Global Compressed Natural Gas (CNG) Market 2019 - 2023 ($ million)