CNG COMPRESSORS MARKET ANALYSIS

Regional Analysis

CNG Compressors Market Regional Insights

• North America: North America is expected to be the largest market for CNG compressors market during the forecast period, accounting for over 38% of the market share in 2023. The market growth in North America is due  to shale gas availability and growing adoption of NGVs (Natural Gas for Vehicles) like transit buses and waste collection trucks.
• Asia Pacific: The Asia Pacific market is expected to be the second-largest market for CNG compressors market, accounting for over 32% of the market share in 2023. The market growth in Asia Pacific countries (APAC) is due to large vehicle population and government initiatives to expand CNG infrastructure.
• Europe: The Europe market is expected to be the fastest-growing market for CNG compressors market, with a CAGR of over 9% during the forecast period. The market growth in Europe is due to emission reduction targets and incentive schemes for purchasing NGVs.