Global CNG Compressors Market 2016-2020
About CNG Compressors
A compressor is an instrument that is designed to supply air or gas at a higher pressure through compression. There are mainly two types of compressors: positive displacement compressors, and continuous flow compressors.
Technavio’s analysts forecast the global CNG compressors market to grow at a CAGR of 4.1% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global CNG compressors market for 2016-2020. To calculate the market size, the report considers the revenue global CNG compressors market
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global CNG Compressors Market 2016-2020
Technavio recognizes the following companies as the key players in the Global CNG Compressors Market: Atlas Copco, Ariel Corporation, BAUER Compressors, Clean Energy Compression, and Ingersoll Rand.
Other prominent vendors in the market are: Aerotecnica Coltri, ANGI Energy Systems, Chicago Pneumatic, Cryostar, Galileo Technologies, GreenLine Fuel, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is advances in CNG compressor technology. In a CNG fueling station, the gas flows from the distribution channel into the gas compressor and is stored in a storage facility from which it is later dispensed according to the requirement. With advances in technology, companies are developing compressors that give better efficiency, effectiveness, cost, and reliability. Clean Energy Fuel Corporation introduced the most advanced heavy-duty, non-lubricated compressors for the natural gas fuel market in 2016. These new compressors are standardized and the streamlined modular engineering aids in quicker delivery time, and makes them more reliable and cost efficient. They also offer ultra-low vibrations and noise. Proprietary heat management ensures that the heated air is not recirculated between compressors so that it provides consistent performance regardless of the number of compressors.”
According to the report, one of the primary drivers in the market is increase in use of NGVs. The benefits of low operating cost and the reduction in vehicular emissions have increased the adoption of NGVs in both passenger and commercial fleets. OEMs such as GM, Ford, Fiat, Volvo, and Audi offer light, medium, heavy vehicles, trains, and aircraft that are powered by natural gas. Car manufacturers such as GM and Ford have certified natural gas conversion systems, which can be installed without voiding the warranty, increasing their appeal to buyers.
Further, the report states that one major challenge in the market is growth in EV sales. Over the past few years, the interest in EVs in the US automotive sector has surged, with manufacturers beginning to introduce new EVs with advanced technology. The country is aiming to become a global leader in next-generation vehicle technologies. With the support of financial incentives and R&D, the country seeks to reduce its dependence on petroleum products for transportation; thus, the future of EVs seems to be optimistic. The sales of plug-in hybrid EV or PHEV cars in the US was 50.1 thousand units in 2005, and this number increased to 295.1 thousand units in 2015.
Atlas Copco, Ariel Corporation, BAUER Compressors, Clean Energy Compression, Ingersoll Rand, Aerotecnica Coltri, ANGI Energy Systems, Chicago Pneumatic, Cryostar, Galileo Technologies, GreenLine Fuel, Siemens.
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