According to a new market research report "CNG Dispenser Market by Type (Fast Fill and Time Fill), Flow Rate (Up to 15, Up to 50, and Up to 100 Kg/Min), Distribution (Company Owned & Company Run, Company Owned & Dealer Run, and Dealer Owned & Dealer Run), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to reach USD 225.5 million by 2023. The global CNG Dispenser Market is expected to grow from an estimated USD 155.2 million in 2018 to USD 255.5 million by 2023, at a CAGR of 7.76% from 2018 to 2023. The market is set to grow due to stringent emission policies across all countries. Many other countries across the world planned to reduce emissions by a certain level by 2020 at the United Nations Framework Convention on Climate Change held in 2015. New emission policies are likely to get introduced by 2019 or 2020, depending on the largest achievement and are expected to create opportunities for CNG vehicles.
The fast fill segment is expected to hold the largest share of the CNG Dispenser Market, by type, during the forecast period.
The CNG Dispenser Market has been segmented, by type, into fast fill and time fill. The fast fill segment is expected to be the largest because CNG at fast fill stations is often stored in vessels at high service pressure, which helps in delivering the fuel faster.
Company owned & company run segment is the fastest growing CNG Dispenser Market, by distribution, during the forecast period.
The CNG Dispenser Market has been segmented, by distribution, into company owned & company run, company owned & dealer run, and dealer owned & dealer run. The company owned & company run segment is estimated to hold the largest share of the market during the forecast period because the operational improvement program reduces the cost and complexity in line. The primary purpose is to focus on the structure and size of the organization.
The 1-100 kg/min segment is expected to dominate the CNG Dispenser Market, by flow rate, in 2018.
The CNG Dispenser Market has been segmented, by flow rate, into up to 15 kg/min, up to 50 kg/min, and up to 100 kg/min. The up to 100 kg/min segment is estimated to hold the largest market share by 2023. This type of flow is suited for light-duty vehicles that require quick filling. For instance, vehicles such as vans, pickups, and sedans need random refueling.
Asia Pacific is expected to be the leading market for CNG dispenser during the forecast period.
Asia Pacific is expected to dominate the CNG Dispenser Market during the forecast period. A wide variety of industries such as manufacturing, mining, oil & gas, textiles, and automation in the region is expected to drive the CNG Dispenser Market in the Asia Pacific region during the forecast period.
Bennett (US), Censtar (China), Compac (New Zealand), FTI (Canada), Kraus (Canada), Lanfeng (China), Sanki (China), Scheidt & Bachmann (Germany), Tulsa (India), Tatsuno (Japan), Dover (US), Parker (US), and Fortive (US) dominated the market in 2017.
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