LNG Filling Station Market Size, Share & Industry Analysis, By Station Type (Mobile Station, Permanent Station), By Application (Transportation & Logistics, Marine, Commercial, Others) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
LNG filling stations are structured tanks that deliver natural gas to the end-user. Vehicles that use LNG as their fuel is termed LNG vehicles. The storing of natural gas as liquefied petroleum instead of gases is more flexible owing to the less volume which results in cost-effective more storage of petroleum. LNG combustion reduces pollution and improves the drive run of a vehicle in city crowds due to its lighter weight and is promoted by the authorities to overcome the rising pollution.
Based on the station type, the market is segmented into the mobile station and permanent station. The permanent station is anticipated to dominate the market due to its wide application in the automotive industry owing to load-bearing capacity, lower acquisition cost.
Based on the application, the market is segmented into transportation & logistics, marine, commercial, and others. The transportation and logistics application has increased due to the increasing global population. To meet the increasing demand for transportation, a range of vehicles, fuels, and LNG fuel is needed to meet the demand and tackle the emissions. Based on this factor the transportation and logistics are anticipated to grow the LNG filling station market.
One of the major drivers for the global LNG filling station market is the rising urbanization globally, which leads to the increasing power demand. Through the LNG filling station, one can easily access reliable, sustainable energy sources like natural gases.
The restraints for the LNG filling station market is the major infrastructure related to the transmission and distribution hinders the city gas distribution market
Key Market Driver -
The initiatives for reliable sustainable and affordable energy is the major market driver.
Key Market Restraint -
The infrastructure exclusivity leads to no parallel infrastructure development, affecting the growth rate of the LNG filling station market
Key players covered:
Some of the major companies present in the global LNG filling station market are Line Engineering, Chevron Corporation, Exxon Mobil, Clean Energy Fuels, Valero Energy Corporation, Origin Energy Limited, China Gas Holdings, and Bharat Petroleum Corporation.
Regional analysis:
The LNG filling stations market has been studied across North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. The Asia Pacific is expected to dominate the most significant market owing to rising demand for natural gas mainly across the countries like India, China, and Japan among others. China has the fastest-growing investment in LNG stations, as its focus on cleaner energy for industrial and commercial transportation is anticipated to drive the market across the region. Following Asia-Pacific, Europe, and North America and have implemented stringent laws to reduce emissions & are more focused on renewable energy projects and energy-efficient sectors the rise in commercial and industrial transportation has led to the expansion of LNG stations across the region, and are the second-largest region in the global LNG filling stations market. In Latin America government has reduced the importation tariffs for LNG-powered vehicles, enhancing the market landscape of LNG filling stations positively.
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Segmentation
ATTRIBUTE | DETAILS |
By Station Type |
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By Application |
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By Geography |
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Key Industry Developments
- On 19 April 2021: The Israel’s ministry of energy has announced a plan for reducing the greenhouse gas emission effects by 80%. This plan includes shutting down coal fired power plants, improvements in power grid technologies and increase the electricity generation by renewable energy leading to demand for gas distribution across the region.
- On 09 April 2021, Gasrec has acquired assets of bio – LNG. This acquisition includes five refuelling stations, four cryogenic trucks which has led to the withdrawal of LNG supplier in UK transport market.
- On 05 May 2020, Clean Energy has announced their construction for natural gas fuel stations for their contracts, customers. The new construction has led to the continuous expansion of clean, ultra – low carbon fleet of clean energy.
- Ongoing
- 2023
- 2019-2022
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