Global Compressed Natural Gas (CNG) Market by Sources, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026.
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The global compressed natural gas market is anticipated to expand at a CAGR of around 6.5% during the forecast period, 2020–2026.Shifting trend towards the use of renewable transportation fuels to reduce the emission of greenhouse gases is driving the market growth. Request for sample@ https://dataintelo.com/request-sample/?reportId=8529 Compressed Natural Gas (CNG) is usually used as an alternative for diesel, gasoline, and liquified petroleum gas (LPG) on account of low emission of greenhouse gases (GHG) production on combustion. It is produced by compressing natural gas to less than 1% of its volume at standard atmospheric pressure. The CNG is used widely in heavy duty transportation vehicles due to affordability and eco-friendliness. With the rise in the environmental issues such as climatic changes and depleting ozone layer many nations across the globe have started using CNG in power production. CNG fuel systems are usually sealed and help preventing fuel losses from evaporation. It is safer than gasoline and diesel because it is non-toxic and does not contaminate ground water. The use of CNG is extremely good for the environment as it is one of the cleanest burning fuels available.
Market Trends, Drivers, Restraints, and Opportunities: ● Growing adoption of unconventional transportation fuels in order to reduce carbon footprints is a major factor driving the growth of the market. ● Increasing use of CNG in traditional internal combustion engines is propelling the market growth. ● Growing energy demands coupled with emergence of CNG as low-cost fuel is anticipated to boost the demand for CNG and thus ● Rising government initiatives and support for the development of CNG infrastructure is expected to drive the market growth. ● Rising need for decarbonizing the transportation sector coupled with adoption of CNG as transportation fuel is driving the growth of the market. ● Growing environmental concerns and increasing monetary assistance in the form of subsidies is expected to boost the demand for CNG. This, in turn, is driving the growth of the market.
Enquiry Before Buying@ https://dataintelo.com/enquiry-before-buying/?reportId=8529 Competitive Landscape: Key players operating in the global compressed natural gas market are Indraprastha Gas Limited (IGL), National Iranian Gas Company, Mahanagar Gas Limited (MNGL), J-W Power Company, OAO Gazprom, Trillium CNG, GNVert, ANGI Energy Systems Inc., NeoGas Inc., Chevron, ExxonMobil, NIOPDC, Royal Dutch Shell, China Natural Gas Inc., and J-W Power Company. Ask for discount@ https://dataintelo.com/ask-for-discount/?reportId=8529
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