Global Compressed Natural Gas (cng) Market Size & Outlook
Global compressed natural gas (cng) market, 2018-2030 (US$M)
Related Markets
Global compressed natural gas (cng) market highlights
- The global compressed natural gas (cng) market generated a revenue of USD 188,925.7 million in 2023 and is expected to reach USD 223,966.4 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 2.5% by 2030.
- In terms of segment, residential / commercial accounted for a revenue of USD 36,066.4 million in 2023.
- Chemical is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2023.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 188,925.7 million |
| Market revenue in 2030 | USD 223,966.4 million |
| Growth rate | 2.5% (CAGR from 2023 to 2030) |
| Largest segment | Residential / commercial |
| Fastest growing segment | Chemical |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential / Commercial, Chemical, Industrial, Autogas, Refinery |
Other key industry trends
- In terms of revenue, the North America accounted for 24.0% of the global compressed natural gas (cng) market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, China is the fastest growing regional market and is projected to reach USD 13,577.2 million by 2030.
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Compressed Natural Gas (CNG) Market Scope
Compressed Natural Gas (CNG) Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global compressed natural gas (cng) market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to compressed natural gas (cng) market will help companies and investors design strategic landscapes.
Residential / commercial was the largest segment with a revenue share of 19.09% in 2023. Horizon Databook has segmented the Global compressed natural gas (cng) market based on residential / commercial, chemical, industrial, autogas, refinery covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Compressed Natural Gas (CNG) Application Outlook (Revenue, USD Million, 2018-2030)
- Residential / Commercial
- Chemical
- Industrial
- Autogas
- Refinery
- Transportation Fuel
- Power Generation
- Others
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Horizon Databook provides a detailed overview of global-level data and insights on the Global compressed natural gas (cng) market , including forecasts for subscribers. This global databook contains high-level insights into Global compressed natural gas (cng) market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global compressed natural gas (cng) market size, by region, 2018-2030 (US$M)
Top 10 countries: Compressed natural gas (cng) market size, 2023 (US$M)
Global compressed natural gas (cng) market share, by application, 2023 & 2030 (%, US$M)
Compressed natural gas (cng) market: Opportunity assessment by country
Global compressed natural gas (cng) market, by region, 2023 (US$M)
| Application | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Latin America | 10,564.1 | 11,267.2 | 11,909.5 | 12,589.5 | 13,309.5 | 14,039.4 | 14,811.9 | 15,618.6 | 16,460.2 | 17,216.0 | 17,984.2 | 18,735.7 | 19,458.2 | 4.9% |
| Europe | 45,658.0 | 47,631.0 | 49,210.8 | 50,860.9 | 52,506.2 | 54,285.7 | 56,102.7 | 57,981.4 | 59,921.1 | 61,488.2 | 63,047.9 | 64,501.0 | 65,812.3 | 2.8% |
| North America | 41,606.2 | 42,265.3 | 42,573.2 | 43,486.1 | 44,240.3 | 45,342.2 | 46,475.1 | 47,636.4 | 48,824.3 | 49,687.6 | 50,526.6 | 51,262.8 | 51,870.6 | 1.9% |
| MEA | 19,974.6 | 19,391.4 | 23,332.4 | 24,445.4 | 25,837.8 | 27,101.4 | 28,465.7 | 29,888.5 | 31,370.5 | 32,682.5 | 34,012.4 | 35,305.4 | 36,539.3 | 4.3% |
| Asia Pacific | 43,772.2 | 47,346.5 | 45,885.8 | 46,693.9 | 47,523.7 | 48,157.1 | 48,763.9 | 49,364.8 | 49,956.5 | 50,182.5 | 50,354.6 | 50,396.1 | 50,286.1 | 0.6% |
| Overall | 161,575.2 | 167,901.3 | 172,911.7 | 178,075.8 | 183,417.5 | 188,925.7 | 194,619.3 | 200,489.7 | 206,532.7 | 211,256.9 | 215,925.7 | 220,201.0 | 223,966.5 | 2.5% |
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