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Cath Buhr enjoys writing reviews on propane retailers. To get more information about Ohio propane retailers or to know local Ohio propane prices, please check out the Thrifty Propane site today.
Compressed Natural Gas (CNG) Market Forecast Report to 2020: Grand View Research, Inc. Business Articles | March 29, 2016
New Market Research Reports Title “Compressed Natural Gas (CNG) Market Analysis Size and Segment Forecasts to 2020” Has Been Added to Report Database
Global Compressed Natural Gas (CNG) Market?is anticipated to reach USD 129.77 billion by 2020 Shohei Ohtani Womens Jersey , according to a new study by Grand View Research, Inc. Growth of global natural gas vehicles (NGVs) industry coupled with increased automobile fuel efficiency attributed by CNG is anticipated to remain a key driving factor for the global market. Government subsidiaries in form of financial incentives particularly in Asia Pacific and Latin America is also expected to have a positive impact on the market growth. Positive outlook on exploration of unconventional resources including shale gas particularly in U.S. and China is expected to provide growth opportunities for market participants. High initial investment for CNG automobile storage tanks is expected to remain a key challenge for market participants over the forecast period. Increasing R&D expenditure by automobile manufactures on developing dual fuel engines is expected to remain a critical success factor over the next six years.
Non-associated gas emerged as leading source for CNG and accounted for 89.9% of total market volume in 2013. Increasing drilling activities particularly in Middle East is expected to ensure continuous supply of non-associated gases for CNG over the forecast period. Unconventional methods are expected to be the most lucrative source segment growing at an estimated CAGR of 28% from 2014 to 2020.
Browse full research report on Global Compressed Natural Gas (CNG) Market:?
Further key findings from the study suggest:
Global CNG demand was 61,668 MCM in 2013 and is expected to reach 108,957.9 MCM by 2020 Justin Upton Womens Jersey , growing at a CAGR of 8.5% from 2014 to 2020. Light duty vehicles (LDV) were the largest CNG consuming segment and accounted for 48.3% of total market volume in 2013. Growth of passenger cars particularly in emerging markets of BRICS is expected to drive this segment. LDV is also expected to witness highest growth rate over the forecast period. The segment is expected to grow at an estimated CAGR of 9.1% from 2014 to 2020. Asia Pacific was the leading regional CNG market and is expected to continue its dominance over the next six years in the global market. The region accounted for 46.6% of total market volume in 2013. Positive outlook on automotive industry coupled with government support to promote the use of alternative transportation fuel particularly in China and India is expected to drive the regional CNG market. Central & Sou. Cheap NFL JerseysCheap NBA HatsCheap NCAA HatsCheap MLB Hoodies OnlineWholesale JerseysCheap Jerseys Free ShippingCheap MLB JerseysCheap Mens JerseysWholesale JerseysCheap Baseball Jerseys China