LNG Filling Stations Market (2023 to 2029) – Growth, Trends and Forecast

LNG Filling Stations Market was valued at US$ 2.14 Bn. in 2022. The Global LNG Filling Stations Market size is estimated to grow at a CAGR of 3.9 % over the forecast period.
LNG Filling Stations Market Overview:
The report explores the LNG Filling Stations market's segments (Type, Application, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the LNG Filling Stations market's contemporary competitive scenario.To know about the Research Methodology :- Request Free Sample Report

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029.
Dynamics:
Increasing concerns about environmental protection are increasing the demand for clean-fuel vehicles fuelled by natural gas. Governments across the globe are also encouraging the use of LNG as a transportation fuel due to the growth in greenhouse gas emissions. Thus, increasing demand for clean-fuel vehicles and increasing adoption of LNG as a transportation fuel are the key factors driving the global market. As a result of the growing consumption of natural gas by heavy vehicles such as city buses, garbage collection trucks, and municipal vehicles, the demand for LNG will grow as well, boosting the global LNG Filling Stations Market expansion.

The initial acquisition expenditure for LNG filling stations is forecast to hinder the market growth in the forecasted period. Strict government regulations regarding LNG filling stations in many countries will forecast the primary factor which also hinders the market growth. Key Players operating in the LNG Filling Stations Market are expected to see lucrative opportunities due to the growing demand from developing economies and the increasing demand for mobile LNG Filling Stations for a small fleet of vehicles.

In the global market, a major challenge is a lack of awareness regarding LNG filling stations and infrastructure development in emerging economies. It still emits CO2 into the atmosphere, when it is used as a transitional energy Type, there is a decrease in the amount of gas released per year, which may challenge the market growth. As a central fuel for the transport sector, LNG can be used instead of diesel for trucks and ships. Therefore, LNG is an excellent alternative to conventional fuels, because it reduces carbon dioxide emissions and fuel costs, which is advantageous to the environment.

Impact of COVID-19:

COVID-19 has resulted in a reduction in the utilization of fossil fuels. Because of lockdowns and shutdowns in many countries, supply chains get disrupted. But it is forecasted that the supply of gas will double in the next 10 years. A competitive price will be the result. In general, the sector is seeing a favorable market situation both in Brazil and internationally. LNG has already dominated the Asian market, mainly in Japan, South Korea, and China.
LNG Filling Stations Market Segment Analysis:
Based on Type, the LNG Filling Stations Market is segmented into Mobile Station and Permanent Station. The Mobile station has the highest market share and it will boost the market growth in the forecasted period due to the rising demand for LNG as gas for transportation purposes. The mobile station can be moved from one area to another as required. The station is generally used in remote areas and areas with limited access to permanent stations. Mobile stations typically have a smaller capacity than permanent stations, and they use portable tanks. The station is usually used during short-term emergencies, such as when there are natural disasters or power outages.

The LNG Permanent Station Filling Stations provide natural gas for refueling vehicles. The LNG Permanent Station Filling Station consists of a tank, a compressor, and a dispenser. The tank is usually underground, and the compressor fills it with natural gas. Gas dispensers provide natural gas for dispensing into vehicles. Permanent stations for gas filling can be private or public. Permanent stations are built for long-term use and are usually located near natural gas pipelines or storage facilities.Based on Application, the LNG Filling Stations Market is segmented into Vehicle and Ship. The Vehicle segment has the highest market share and it will boost the market share in the forecast period due to the increasing popularity of LNG in vehicles. A natural gas-powered engine can offer an alternative to gasoline or diesel that is more environmentally friendly. With LNG Filling Stations, natural gas can be used to fuel vehicles including passenger cars, buses, trucks, and trains. LNG is more affordable and emits fewer greenhouse gases than other fuels. Ships are refueled with LNG utilizing LNG refueling stations, which are either mobile or permanent. Mobile LNG filling stations are generally used for small vessels, while permanent LNG filling stations are designed for large vessels. A vessel's owner or operator may prefer LNG over other fossil fuels such as oil or coal because it is cleaner and more efficient. LNG also helps vessels meet environmental regulations by reducing their carbon footprint.
Regional Insights:
The Asia Pacific region held the largest market share in 2022. The market is expected to hold the dominant position during the forecast period because of the presence of a large number of LNG fuel stations in China. The LNG fueling station market in Asia Pacific is expected to grow strongly during the forecast period with the increase in demand for natural gas as a cleaner alternative to other fossil fuels, along with the rise in the number of heavy-duty vehicles in the region. In China, LNG stations have seen the fastest growth of investment due to the shift towards cleaner energy for commercial transportation. This is forecasted to boost the market in this region.

The North America region is expected to witness significant growth in the forecast period. As commercial transportation has increased, so have LNG stations in North America as strict laws have been implemented to reduce emissions and increase the use of renewable energy projects.The objective of the report is to present a comprehensive analysis of the global LNG Filling Stations Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the LNG Filling Stations Market dynamic and structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the LNG Filling Stations Market make the report investor’s guide.
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LNG Filling Stations Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 2.14 Bn.


Forecast Period 2023 to 2029 CAGR:
3.9%
Market Size in 2029:
US$ 2.8 Bn.


 Segments Covered:
by Type
Mobile Station
Permanent Station


by Application
Vehicle
Ship



LNG Filling Stations Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
LNG Filling Stations Market Key Players:
1. Kunlun Energy
2. CNOOC
3. ENN Energy Holding
4. Guanghui
5. Sinopec
6. Cryostar
7. Engie
8. FortisBC
9. Greka Engineering and Technology Limited
10.Gilbarco Inc.
11.Tulsa Gas Technologies India Pvt. Ltd
12.Tatsuno Europe AS
13.Scheidt & Bachmann Gmbh
14.Sanki Industry Group
15.Clean Energy Fuels
16.FTI International Group Inc.
17.Parker Hannifin Corp.

Frequently Asked Questions:

1. What is the study period of the market?
Ans. The Global LNG Filling Stations Market is studied from 2022-2029.

2. What is the growth rate of LNG Filling Stations Market?
Ans. The Global LNG Filling Stations Market is growing at a CAGR of 3.9% over forecast period.

3. Which region has largest share in The Global LNG Filling Stations Market?
Ans. Asia Pacific holds the largest share.

4. What is the Global LNG Filling Stations Market segment based on Type?
Ans. Based on Type, The Global LNG Filling Stations Market is divided into Mobile station and Permanent station.

5. Who are the key players in the Global LNG Filling Stations Market?
Ans, Kunlun Energy, CNOOC, ENN Energy Holding, Guanghui, Sinopec, Cryostar, Engie, FortisBC, Greka Engineering and Technology Limited, Gilbarco Inc., Tulsa Gas Technologies India Pvt. Ltd, Tatsuno Europe AS, Scheidt & Bachmann Gmbh, Sanki Industry Group, Clean Energy Fuels, FTI International Group Inc., and Parker Hannifin Corp.