CNG Dispenser Market Size, Share, Growth Analysis, By Dispenser Type(Fast-Filling and Time-Filling), By Application(L-CNG Filling Station and Others), By Distribution Channel(Company-Owned & Company-Run, Dealer-Owned & Dealer-Run and Company-Owned & Dealer-Run), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Industrial CNG Dispenser Market?

Global CNG Dispenser Market size was valued at USD 262.51 million in 2022 poised to grow from USD 282.46 million in 2023 to USD 507.52 million by 2031, growing at a CAGR of 7.6% in the forecast period (2024-2031).

Report ID: SQMIG10B2098 | Region: Global | Published Date: May, 2024
Pages: 178 | Tables: 85 | Figures: 70

CNG Dispenser Market News

In July 2021, A manufacturer of technology and equipment for petrol dispensing, Dover Fueling Solutions unveiled the Tokheim Quantium CNG dispenser. Customers will find it easier to refuel their CNG vehicles with the new dispenser's quicker fill times, improved safety features, and intuitive UI.

In September 2021, Gasboy, a well-known manufacturer of fuel dispensers and management systems, including CNG dispensers, has been purchased by the international industrial technology company Fortive Corporation. With the acquisition, Fortive hopes to expand its product line and strengthen its position in the fuel dispenser industry.

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CNG Dispenser Market size was valued at USD 262.51 million in 2022 poised to grow from USD 282.46 million in 2023 to USD 507.52 million by 2031, growing at a CAGR of 7.6% in the forecast period (2024-2031).

Prominent industry participants are making significant investments in R&D to broaden their product offerings, hence contributing to the CNG Dispenser Market's continued expansion. In order to increase their market share, market players are also engaging in a range of calculated strategic actions. Notable developments in this regard include the introduction of new products, contracts, mergers and acquisitions, increased investment, and cooperation with other businesses. By investing in research and development operations, major players in the CNG dispenser market, such as Censtar (China), FTI International (Canada), Lanfeng (China), Sanki (China), Parker (US), Tatsuno (Japan), WEH (Germany), and others, are hoping to boost market demand. 'Fortive (US)', 'Dover (US)', 'Tulsa Gas Technologies (India)', 'Scheidt & Bachmann (US)', 'Kraus (US)', 'Compac (US)', 'Bennett (US)', 'Censtar (China)', 'FTI International (Canada)', 'Lanfeng (China)', 'Sanki (China)', 'Parker (US)', 'Tatsuno (Japan)', 'WEH (Germany)'

Growing public awareness of and concern over environmental pollution and greenhouse gas emissions has led to a strong demand for cleaner fuel options, such as compressed natural gas (CNG). As a cleaner fuel alternative to petrol and diesel, compressed natural gas (CNG) is becoming more and more well-liked due to its reduced emissions of dangerous pollutants. The increasing demand highlights a noteworthy transition towards eco-friendly transportation options, fuelled by increased public awareness of environmental issues.

Growth for CNG Dispensers Amid Rising Demand for Clean Energy: Growing Demand for Clean and Sustainable Energy is Driving the CNG Dispenser Market CAGR. The demand for sustainable and renewable energy sources is rising, which means that the CNG dispenser industry will probably increase quickly in the next years. Compressed natural gas (CNG) is one clean fuel that is becoming more and more popular as the world becomes more environmentally aware.

Due to the large number of CNG vehicles, especially in the transportation industry, which fuels demand for CNG dispensers, North America leads the market for CNG dispensers. The adoption of CNG vehicles by the North American transportation sector has led to a significant rise in demand for CNG dispensers. The North American CNG dispenser market has grown significantly as a result of the high demand for CNG dispensers. Numerous CNG vehicles are in use in the US and Canada for a range of purposes, including personal vehicles, delivery vans, and public transportation.

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