The CNG dispenser market is projected to reach USD 225.5 million by 2023, at a CAGR of 7.76% from 2018 to 2023. This market growth is primarily driven by stringent emission policies.
Asia Pacific is expected to lead the CNG dispenser market, followed by Europe during the forecast period. The global market is dominated by major players such as Bennett (US), Censtar (China), Compac (New Zealand), FTI (Canada), Kraus (Canada), Lanfeng (China), Sanki (China), Scheidt & Bachmann (Germany), Tulsa (India), Tatsuno (Japan), Dover (US), Parker (US), and Fortive (US).
The market growth strategies adopted by key players include new product developments, mergers & acquisitions, and contracts & agreements. Contracts & agreements was the most commonly adopted strategy by market players from 2015 to 2018. Industry players also adopted new product developments and mergers & acquisitions during the stated period.
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Parker manufactures motion and control technologies and systems. The company provides precision engineering solutions for mobile, industrial, and aerospace sectors. It operates in 2 segments, namely, diversified industrial and aerospace systems. The diversified industrial segment includes various groups such as engineered materials group, filtration group, fluid connectors group, motion systems group, and instrumentation group. The instrumentation group offers flow components for process instrumentation, healthcare, and ultrahigh purity application. CNG dispensers are offered under the instrumentation group by the company. It operates in 50 countries. Moreover, the company conducts researches on new products and services through its development laboratories in manufacturing locations worldwide. In May 2015, Parker launched a fully integrated CNG flow control and regulation system under its instrumentation product division, for medium and heavy-duty vehicles with 5–12 liter engines.
Dover offers innovative equipment and components, specialty components, consumable supplies, softwares, and digital solutions. The company operates through 3 segments, namely, engineered systems, fluids, and refrigeration & food equipment. It offers a variety of products such as pump, fluid handling, compressor, and bearing system under the fluids division. The company owns major brands such as CPC, Dover Fueling Solutions (DFS), Hydro, maag, OPW, PGS, Dover Precision Components, Cook Compression, Inpro/seal, and Waukesha Bearings. DFS offers advanced fuel dispensing equipment, electronic systems and payment, automatic tank gauging, and wet stock management solutions. DFS covers the business of ClearView, Fairbanks, ProGauge, Tokheim, Wayne Fueling Systems, and OPW’s Fuel Management Systems. In May 2018, DFS, a Dover company partnered with Kingspan to provide the package of AdBlue retail dispensers and AdBlue storage tanks to the retail and commercial fueling industry in Europe and other regions.
CNG Dispenser Market by Type (Fast Fill and Time Fill), Flow Rate (Up to 15, Up to 50, and Up to 100 Kg/Min), Distribution (Company Owned & Company Run, Company Owned & Dealer Run, and Dealer Owned & Dealer Run), and Region - Global Forecast to 2023
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