The global Compressed Natural Gas (CNG) market refers to the industry involved in the production, distribution, and utilization of natural gas compressed to a high pressure for use as a fuel. This market encompasses CNG-powered vehicles, fueling infrastructure, and related technologies. It is driven by factors such as the demand for cleaner fuels, cost-effectiveness compared to gasoline and diesel, and environmental benefits. The market's growth is influenced by regulatory policies promoting reduced emissions and the adoption of CNG in various sectors, including transportation and industrial applications.
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Data Bridge Market Research analyzes that the Global Compressed Natural Gas (CNG) Market is expected to reach USD 116.61 billion by 2031 from USD 89.09 billion in 2023, growing with a substantial CAGR of 3.5% in the forecast period of 2024 to 2031.
Key Findings of the Study
- Increasing Stringent Environmental Policies and Emission Reduction Targets Support the Adoption of CNG
The global Compressed Natural Gas (CNG) market is being significantly driven by the increasing stringency of environmental policies and emission reduction targets set by governments and international bodies. As concerns over climate change and air quality intensify, regulatory frameworks are becoming more robust, compelling industries and consumers alike to seek cleaner, more sustainable energy sources. This shift is creating a favorable environment for the adoption of CNG as a key alternative to traditional fossil fuels like gasoline and diesel.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Source (Associated Gas and Non-Associated Gas), Kits (Sequential and Venturi), Distribution Type (Cylinders/Tanks, Accumulators, Composite Manifolds and Others), End Use (Light Motor Vehicles, Medium Motor Vehicles, and Heavy Motor Vehicles)
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Countries Covered
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U.S., Canada, and Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Sweden, Switzerland, Poland, Norway, Denmark, Turkey, Finland, Rest of Europe, China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia, Hong Kong, Philippines, Singapore, New Zealand, Taiwan, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, South Africa, Egypt, Kuwait, Qatar, Oman, Bahrain, Israel, and Rest of Middle East and Africa
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Market Players Covered
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NIS (Serbia), KryoGas (Russia) , Engie SA (France), TotalEnergies SE (France), Chevron Corporation (USA), Shell PLC (UK), Adani Group (India), J-W Power Company (USA), INDIAN OIL CORPORATION LIMITED (India), RELIANCE BP MOBILITY LIMITED (India) and ENGIE GROUP (France).
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
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Segment Analysis
The global Compressed Natural Gas (CNG) market is segmented into four notable segments based on source, kit and distribution channel and end-user.
- On the basis of source, the market is segmented into associated gas and non-associated gas.
In 2024, the associated gas segment is expected to dominate the global Compressed Natural Gas (CNG) market
In 2024, the associated gas segment is expected to dominate the market with a market share of 89.91% due to abundant supply, economic efficiency and because of environmental benefits.
- On the basis of kits, the market is segmented into sequential and venturi.
In 2024, the sequential segment is expected to dominate the global Compressed Natural Gas (CNG) market
In 2024, the sequential segment is expected to dominate the market with a 59.41% share due to enhanced engine performance and efficiency, reduced emissions and because of its cost effectiveness and longevity.
- On the basis of distribution type, the market is segmented into cylinder/tank, accumulators, composite manifolds and others. In 2024, the cylinder/tanks segment is expected to dominate the market with 80.14% share
- On the basis of end use, the market is segmented into light motor vehicles, medium motor vehicles and heavy motor vehicles. In 2024, the light motor vehicles segment is expected to dominate the market with a 63.28% share
Major Players
Data Bridge Market Research analyzes Shell PLC (U.K.), TotalEnergies SE (France), Chevron Corporation (U.S.), INDIAN OIL CORPORATION LIMITED (India), and Adani Group (India) as the major players operating in the global Compressed Natural Gas (CNG) market.
Market Developments
- In September 2024, ENGIE SA highlighted its advancements in sustainable mobility during European Mobility Week, showcasing its commitment to cleaner transportation solutions. As part of these efforts, ENGIE has made significant strides in expanding its Compressed Natural Gas (CNG) infrastructure across Europe, enabling more widespread adoption of low-carbon vehicles. The company has also been pioneering the integration of biogas into its CNG offerings, further reducing emissions and promoting a circular economy approach
- In February 2024, Shell PLC completed the acquisition of Nature Energy, a leading producer of renewable natural gas (RNG). This strategic move marks a major expansion of Shell’s capabilities in the low-carbon fuels sector, reinforcing its commitment to accelerating the energy transition. Nature Energy specializes in the production of biogas through anaerobic digestion, converting organic waste into renewable natural gas (RNG). This acquisition enhances Shell's position in the RNG market, providing a sustainable alternative to fossil fuels that can be used in transportation, industry, and heating
- In December 2023, NIS has approved the 2024 Business Plan, allocating USD 560.58 Million for capital investments. The plan prioritizes stable operations and key projects amidst a volatile macroeconomic environment. Focus areas include maintaining oil and gas production levels, conducting a capital workover of the Pančevo Oil Refinery, and expanding the retail network. Additionally, NIS will enhance energy efficiency, reduce CO₂ emissions, and continue digitalization efforts. The plan also includes modernizing Petrohemija’s plants and constructing photovoltaic solar power plants, aligning with the company's commitment to Serbia's energy transition and carbon reduction goals
- In June, 2024 NIS received a certificate of appreciation from the Fund for Scholarships and Encouraging the Advancement of Gifted Students and Young Scientific Workers and Artists of the University of Novi Sad for its long-term support and student scholarships. The ceremony also awarded contracts to 86 new scholarship recipients and recognized other supportive institutions. NIS, a scholarship donor for 15 years, awards five scholarships annually through its “Energy of Knowledge” program. This year’s recipients include students from various faculties. The fund has awarded 1,780 scholarships since its establishment in 1992
- In March, 2023, The Scientific and Technology Centre of NIS and “Transnafta” signed a Memorandum of Cooperation to enhance oil pipeline development. The STC, known for its expertise and innovation, will support “Transnafta” with its extensive experience in infrastructure design, leveraging its research capabilities and international partnerships
Regional Analysis
Geographically, the regions covered in the global Compressed Natural Gas (CNG) market report are Asia-Pacific, North America, Europe, South America, and Middle East and Africa. These regions are further segmented by countries into U.S., Canada, and Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Sweden, Switzerland, Poland, Norway, Denmark, Turkey, Finland, rest of Europe, China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia, Hong Kong, Philippines, Singapore, New Zealand, Taiwan, rest of Asia-Pacific, Brazil, Argentina, rest of South America, U.A.E., Saudi Arabia, South Africa, Egypt, Kuwait, Qatar, Oman, Bahrain, Israel, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant and fastest growing region in the global Compressed Natural Gas (CNG) market
Asia-Pacific dominates the global Compressed Natural Gas (CNG) market due to rapid urbanization, supportive government policies, and cost-effective fuel solutions. Expanding CNG infrastructure and incentives drive widespread adoption, addressing rising transportation demands and environmental concerns, making the region a leading player in the global Compressed Natural Gas (CNG) market. Also, the region is expected to grow due to accelerating urbanization, favorable government regulations, and expanding CNG infrastructure.
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