Market Synopsis of CNG Compressor Market
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said: Large-scale application of CNG in recent times is one of the primary factors driving the CNG Compressor Market. The demand for CNG and CNG compressor are complimentary to each other. Recent surge in the Oil and Gas market is expected to have a positive impact on the CNG compressor market. CNG being relatively cheaper as compared to petrol and diesel has widely been preferred fuel to curb the ever increasing demand for Oil&Gas.
North America is the leading market for CNG Compressor market mainly due to the aging infrastructure bringing out the need for onshore and offshore exploration activities. Asia-Pacific is another significant region with ever increasing demand for energy and technological development pushing the demand in this region.
Global CNG Compressor Market – Overview:
The Global CNG compressors market is expected to grow steadily during the forecast period registering a significant rate of CAGR by 2027. The increased numbers of natural gas vehicles is one of the major factors impacting the growth of The Global CNG compressors Market during the forecast period – 2016 – 2027. The adoption of natural gas vehicles in the passenger car segment and commercial fleets will get extended with the low operating cost and reduced vehicular emissions.
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Some of the key players in the CNG Compressor market are Ariel Corporation, Atlas Copco, P.C. McKenzie Company, Ingersoll Rand, Sauer Compressor, J-W Energy, BAUER, CIMC ENRIC, Wärtsilä