Compressed Natural Gas (CNG) Market: Trends, Challenges, and Future Outlook
The
Compressed Natural Gas (CNG) market is experiencing significant growth, driven by environmental concerns, cost-effectiveness, and the need for energy diversification. As nations strive to reduce their carbon footprints and transition to cleaner energy sources, CNG has emerged as a viable alternative to traditional fuels like gasoline and diesel.
Market Size and Growth Forecast
The global compressed natural gas (CNG) market size was valued at USD 92.21 billion in 2024 and is expected to reach USD 121.42 billion by 2032, at a CAGR of 3.50% during the forecast period. This growth is fueled by several factors, including rising fuel prices, environmental regulations, and advancements in CNG technology.




