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The natural gas refueling stations market share is expected to increase by 8532.00 units from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.41%.
This natural gas refueling stations market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (CNG and LNG), type (fast-fill stations and time-fill stations), and geography (APAC, North America, Europe, MEA, and South America). The natural gas refueling stations market report also offers information on several market vendors, including Atlas Copco AB, Clean Energy Fuels Corp., Dover Corp., Exxon Mobil Corp., GAIL (India) Ltd., Gilbarco Inc., GreenLine, Ingersoll Rand Inc., Linde Plc, and Torrent Gas Pvt. Ltd., among others.
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Based on our research output, there has been a negative impact on the market growth during and post the COVID-19 era. The demand for cleaner fuels is notably driving the natural gas refueling stations market's growth, although factors such as the fall in oil prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the natural gas refueling stations market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Natural Gas Refueling Stations Market Driver
Natural gas is a clean and affordable alternative to fossil fuels such as diesel, gasoline, and fuel oil. It is used in vehicles in compressed or liquefied form. Carbon dioxide emissions have been growing in accordance with an increase in economic activities. Efforts by countries across the world in decarbonizing the power system by shifting to renewable energy have helped in controlling carbon dioxide emissions. The burning of natural gas results in less pollution, which explains its increasing use in the transportation sector; thus, driving the global natural gas refueling stations market growth.
Key Natural Gas Refueling Stations Market Challenge
Natural gas can be easily substituted by gasoline and diesel. Global oil prices have witnessed a steep decline in recent times. This significant decline in oil prices is attributed to the supply-demand imbalance of crude oil in the global market. Cost-benefits of natural gas over conventional fuels were one of the major driving factors pushing the use of natural gas as a fuel in the transportation industry. However, the multi-year decline in oil prices has made switching to alternative fuel vehicles a less attractive proposition. Thus, the fall in oil prices is expected to impede natural gas refueling stations market growth during the forecast period.
This natural gas refueling stations market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the natural gas refueling stations market encompasses successful business strategies deployed by the key vendors. The natural gas refueling stations market is fragmented, and the vendors are deploying growth strategies such as distinguishing their products and service offerings through clear and unique value propositions to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The natural gas refueling stations market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Technology
Market Segmentation by Type
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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