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

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).

Compressed natural gas, or CNG, is made up of methane that is produced as biomass breaks down. Due to its high calorific value, it can be used in place of more traditional fuels like petrol, diesel and petrol. Customers can pump petrol into their gasoline tanks using a mechanical equipment called a fuel dispenser, which is located in petrol stations. Additionally, as more people use CNG, there is an increasing global demand for CNG dispensers. The market for CNG dispensers is expanding quickly at the moment since more people are switching from using conventional gasoline to CNG. When opposed to petrol or diesel, compressed natural gas (CNG) produces almost no hazardous emissions into the atmosphere in addition to having a high calorific value.

The main objective of many nations and international organizations, including the United Nations, is sustainable development. Global warming and pollution are exacerbated by traditional energy. Achieving sustainable energy goals requires the use of alternative energy sources. For the automotive sector, compressed natural gas, or CNG, is one of the most practical substitutes for conventional fuel energy sources. CNG is inexpensive, abundant worldwide, high in calorific value and heat yield, and low in pollutants.