Compressed Natural Gas (CNG) Market to Hit USD 21,068.66 Mn by 2030 | Consegic Business Intelligence
Compressed Natural Gas (CNG) Market Overview: The global CNG market has been experiencing steady growth over the years. Factors such as environmental concerns, government initiatives, and the rising demand for cleaner fuels have contributed to the Compressed Natural Gas (CNG) Market Expansion . The market size is expected to continue its upward trajectory in the coming years. Compressed Natural Gas (CNG) Market is USD 1,262.27 Million in 2022. It is projected to reach USD 21,068.66 by 2030, indicating a CAGR of 8.4% during the forecast period. Market Definition: Compressed Natural Gas (CNG) is a type of fuel made by compressing natural gas to a reduced volume. Natural gas, primarily composed of methane (CH4), is extracted from underground reserves or produced as a by-product of oil extraction and other industrial processes. CNG is stored and transported in high-pressure cylinders or tanks. Market Drivers: Compressed Natural Gas (CNG) Market has Growing concerns about...