Global CNG Compressor Aftermarket 2017-2021

Overview of the CNG compressor aftermarket

Technavio’s market research analysts have predicted that the global CNG compressor aftermarket will witness slow paced growth at a CAGR of more than 2% during the forecast period. With the growing use of CNG as fuel, the CNG compressor aftermarket is anticipated to have a positive outlook in the coming years. The transportation sector alone contributed about 14% of the total GHG emissions from all sector during 2014. Since GHG emissions have adverse effects on the environments, the governments of most countries are taking initiatives to curb the widespread pollution from vehicles by replacing gasoline and diesel with CNG in the transportation sector. Moreover, CNG has several other advantages over conventional fuels including low cost, reduced the maintenance cost of vehicles, and enhanced performance of vehicles. These factors are expected to propel the demand for CNG vehicles, which will., in turn, will boost the CNG compressor aftermarket growth over the next four years.