Market Trends of Natural Gas Refueling Infrastructure Industry
This section covers the major market trends shaping the Natural Gas Refueling Infrastructure Market according to our research experts:
Compressed Natural Gas to Dominate the Market
- Compressed Natural Gas stations dispense natural gas stored in high-pressure cylinders at around 3000 to 3600 psi. The stations are equipped with several units, like the main utility unit, gas dryer, compressor, storage system, and dispensing units, that helps to provide a continuous and safe supply of natural gas to the vehicles.
- Depending upon the nature of the operation and design, the compressed natural gas stations are segregated into fast-fill, time-fill, and a combination of both. Usually, retail stations have fast-fill stations to have quicker filling rate than the other. Time-fill is used on the fleets that have central refueling and can fill over-night.
- During 2018, CNG stations have the majority share of the total natural gas fuel stations across the globe, owing to the technological developments and infrastructure advancement of CNG stations. Moreover, the CNG stations are expected to grow further with growing initiatives by various national and international bodies to have lower carbon footprint across the world.
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Asia-Pacific to Dominate the Market
- Asia-Pacific is a significant region globally, that has a presence of nearly 19 million natural gas vehicles. Additionally, the Asia-Pacific region has the highest number of natural gas fuel stations, in 2018.
- The region's natural gas stations account for nearly 60% of the total natural gas stations of the world. Almost 97% of the Asia-Pacific's natural gas stations offer CNG, while rest offer LNG.
- With the increasing population of CNG vehicles in the region, especially in China and India, on account of the initiative to lower the emission of carbon from vehicles, CNG stations are expected to grow during the forecast period.
- Moreover, in terms of LNG stations, the region is in early-stage as compared to Europe. China has near 21 LNG stations, with Japan and India installed its first LNG stations in 2018, and 2019, respectively.
- China Natural Gas Inc, China Petroleum & Chemical Corporation, China National Petroleum Corporation, BP Plc, Indraprastha Gas Limited, and PTG Energy Public Company Limited are the key CNG refueling station operators in Asia-Pacific.
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