Southeast Asia Compressed Natural Gas Dispenser Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 38.22 Billion |
| Market Size (2029) | USD 57.19 Billion |
| CAGR (2024 - 2029) | 8.39 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Southeast Asia Compressed Natural Gas Dispenser Market Analysis
The Southeast Asia Compressed Natural Gas Dispenser Market size is estimated at USD 38.22 billion in 2024, and is expected to reach USD 57.19 billion by 2029, growing at a CAGR of 8.39% during the forecast period (2024-2029).
- Over the medium term, the growing demand for compressed natural gas and increasing investments for the expansion of CNG infrastructure are expected to drive the market's growth.
- On the other hand, rising alternate fuel sources such as batteries are expected to hamper the growth of Southeast Asia's compressed natural gas dispenser market during the forecast period.
- Nevertheless, growing emphasis on greener fuels like compressed natural gas, to reduce dependency on petroleum products, to have a low energy cost, and to control the rising air pollution are likely to create lucrative growth opportunities for Southeast Asia's compressed natural gas dispenser market in the forecast period.
Southeast Asia Compressed Natural Gas Dispenser Market Trends
Increasing Natural Gas Consumption Expected to Drive the Market
- Countries in the Southeast Asia region are developing and are witnessing increased industrial activities and are emerging as alternative manufacturing hubs for various sectors such as automotive, textile industry, etc., which results in increased economic activity and population.
- According to BP Statistics, Malaysia had the largest natural gas production capacity of 82.4 billion cubic meters as of 2022, with a growth rate of 5.6% from the previous year, followed by Thailand, Indonesia, Vietnam, and other South-East Asian countries. Therefore, the region's demand for natural gas is increasing.
- Compressed natural gas (CNG) vehicles are an alternative to conventional vehicles. The operational cost of the vehicles is comparatively lower than gasoline or diesel vehicles. Moreover, the combustion of natural gas doesn't emit high carbon particles, making it more eco-friendly.
- The CNG dispenser market and the CNG vehicle market operate hand in hand, i.e., with the increase in CNG vehicles, there is much possibility for CNG station growth. A CNG station minimum operates two dispenser units; thus, growth in CNG stations is expected to boost the dispenser market.
- Southeast Asia's largest consumer of natural gas is Malaysia, which consumed nearly 49.4 billion cubic meters in 2022. Thailand is the second largest consumer of natural gas, with 44.3 billion cubic meters in the same year.
- Therefore, with the growing consumption of natural gas and demand for CNG Vehicles, the government's efforts to curb emissions from vehicles are expected to drive Southeast Asia compressed natural gas dispenser market in the coming years.
Malaysia to Witness Significant Growth
- Malaysia's energy industry is a significant growth sector for the economy. The government has focused on amplifying hydrocarbon production through soaring investment in the upstream industry and exploration as a significant driver of economic growth. But implementing this strategy has become ever more challenging because production has declined due to a lack of developed new fields.
- In 2022, natural gas consumption in Malaysia amounted to 49.4 billion cubic meters. Natural gas consumption remained increased from 43.6 billion cubic meters in 2022. Compressed natural gas (CNG) is an environment-friendly alternative to automotive fuel. Cleaner fuel plays a vital role in significantly reducing vehicular greenhouse gas emissions and environmental pollution.
- In March 2022, Gas Malaysia Bhd partnered with Kulim Greenergy Sdn Bhd to produce compressed bio-methane (Bio-CNG) to be injected into Gas Malaysia's natural gas distribution system network.
- Therefore, Southeast Asia is expected to witness significant growth in the compressed natural gas dispenser market with various government initiatives during the forecast period.
Southeast Asia Compressed Natural Gas Dispenser Industry Overview
The Southeast Asia compressed natural gas dispenser market is semi-consolidated in nature. Some of the major players in the market (in no particular order) include Parker Hannifin Corp., FTI International Group Inc., ComTech Energy, Censtar Science & Technology Co., Ltd., and Scheidt & Bachmann Gmbh., among others.
In August 2022, 4Refuel, the parent company of ComTech Energy, has undergone a company rebrand to represent further its dedication to sustainable fuel management solutions and an agnostic approach to energy delivery and mobile on-site refueling services. As the energy transition develops, 4Refuel has taken the necessary steps to ensure that its products and service offerings are turn-key solutions for companies looking to reduce their carbon footprint. The company now offers customers access to a suite of drop-in ready liquid biofuels and gaseous alternatives in addition to traditional fuel products—empowering businesses to choose the best energy mix for their unique requirements. Their full spectrum of energy choices includes Diesel, Biodiesel, HDRD (hydrogenation-derived renewable diesel), CNG (Compressed Natural Gas), RNG (Renewable Natural Gas), and Hydrogen.
Southeast Asia Compressed Natural Gas Dispenser Market Leaders
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Parker Hannifin Corp
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FTI International Group Inc.
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Censtar Science & Technology Co., Ltd.
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Scheidt & Bachmann Gmbh
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ComTech Energy
*Disclaimer: Major Players sorted in no particular order
Southeast Asia Compressed Natural Gas Dispenser Market News
Recent Developments will be provided in the final report.
Southeast Asia Compressed Natural Gas Dispenser Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Growing Demand for Compressed Natural Gas
4.5.2 Restraints
4.5.2.1 Rising Alternate Fuel Sources such as Batteries
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION - BY GEOGRAPHY
5.1 Thailand
5.2 Singapore
5.3 Indonesia
5.4 Malaysia
5.5 Rest of Southeast Asia
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Parker Hannifin Corp
6.3.2 FTI International Group Inc.
6.3.3 ComTech Energy
6.3.4 Censtar Science & Technology Co., Ltd.
6.3.5 Scheidt & Bachmann Gmbh
6.3.6 Gilbarco Inc.
6.3.7 Greka Engineering
6.3.8 Tatsuno Europe AS
6.3.9 Sanki Industry Group
6.3.10 TGT Fuel Technologies India Pvt. Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Emphasis on Greener Fuels like Compressed Natural Gas, to Reduce Dependency on Petroleum Products, to have a Low Energy Cost
Southeast Asia Compressed Natural Gas Dispenser Industry Segmentation
A compressed natural gas (CNG) dispenser is filling equipment established in a gas station to supply automobile gas. It is competent in quickly refilling the empty fuel tank of vehicles. CNG dispenser shows the temperature and pressure going into a tank and then displays how many gasoline gallon equivalents (GGEs) are going into an automobile.
Southeast Asia compressed natural gas dispenser inverters market is segmented by geography. The report covers the market size and forecasts for Southeast Asia's compressed natural gas dispenser market across major countries in the region such as Indonesia, Thailand, Vietnam, Malaysia, and Rest of Southeast Asia.
For each segment, the market sizing and forecasts have been done based on revenue (USD).
Southeast Asia Compressed Natural Gas Dispenser Market Research Faqs
How big is the Southeast Asia Compressed Natural Gas Dispenser Market?
The Southeast Asia Compressed Natural Gas Dispenser Market size is expected to reach USD 38.22 billion in 2024 and grow at a CAGR of 8.39% to reach USD 57.19 billion by 2029.
What is the current Southeast Asia Compressed Natural Gas Dispenser Market size?
In 2024, the Southeast Asia Compressed Natural Gas Dispenser Market size is expected to reach USD 38.22 billion.
Who are the key players in Southeast Asia Compressed Natural Gas Dispenser Market?
Parker Hannifin Corp, FTI International Group Inc., Censtar Science & Technology Co., Ltd., Scheidt & Bachmann Gmbh and ComTech Energy are the major companies operating in the Southeast Asia Compressed Natural Gas Dispenser Market.
What years does this Southeast Asia Compressed Natural Gas Dispenser Market cover, and what was the market size in 2023?
In 2023, the Southeast Asia Compressed Natural Gas Dispenser Market size was estimated at USD 35.26 billion. The report covers the Southeast Asia Compressed Natural Gas Dispenser Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Southeast Asia Compressed Natural Gas Dispenser Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Southeast Asia Compressed Natural Gas Dispenser Industry Report
Statistics for the 2024 Southeast Asia Compressed Natural Gas Dispenser market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Southeast Asia Compressed Natural Gas Dispenser analysis includes a market forecast outlook to for 2024 to 2029) and historical overview. Get a sample of this industry analysis as a free report PDF download.
