Compressed Natural Gas (CNG) Market Size Worth USD 525.26 Billion by 2034 | CAGR: 11.70%

The Compressed natural gas (CNG) market size is expected to reach USD 525.26 billion by 2034, according to a new study by Polaris Market Research. The report “CNG Market Share, Size, Trends, Industry Analysis Report; By Source (Refinery, Associated Gas, Non-Associated), By Application (Light Duty Vehicles, Medium/Heavy Duty Trucks), By Region; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Compressed natural gas (CNG) is a clean-burning alternative fuel made by compressing natural gas to less than 1% of its volume at standard atmospheric pressure. Primarily composed of methane, CNG is stored in high-pressure cylinders and used as a fuel for automotive vehicles, including passenger cars, buses, and trucks. It is considered an environmentally friendly option compared to conventional fuels such as gasoline and diesel, as it emits significantly lower levels of harmful pollutants such as carbon monoxide, nitrogen oxides, and particulate matter. Additionally, CNG combustion produces fewer greenhouse gases, contributing to reduced carbon footprints.

Questions? Request a sample or make an inquiry before buying this report by clicking the link below: https://www.polarismarketresearch.com/industry-analysis/compressed-natural-gas-cng-market/request-for-sample

CNG is widely used in transportation due to its cost-effectiveness, efficiency, and safety. Many countries promote CNG vehicles to reduce air pollution and dependence on petroleum-based fuels. The fuel is also used in industrial applications, power generation, and household cooking in some regions. CNG-powered vehicles require specially designed engines or retrofitted kits, and refueling is done at dedicated CNG stations.

Top of FormCNG Market Report Highlights

• In terms of source, the non-associated segment accounted for 56.23% of revenue share in 2024 due to its stable and independent production from dedicated gas fields.
• Based on application, the light duty vehicles segment accounted for 63.21% of revenue share in 2024 due to their widespread adoption in both personal and commercial transportation.
• The Asia Pacific CNG market accounted for 48.15% of global revenue share in 2024. This dominance is attributed to rapid urbanization, increasing vehicle ownership, and government policies promoting cleaner fuels to combat air pollution.
• China held the largest revenue share in the Asia Pacific CNG landscape in 2024, due to stringent environmental regulations aimed at reducing smog and carbon emissions.
• The market in North America is projected to hold a substantial revenue share in 2034 due to the abundant and low-cost shale gas production, making CNG cheaper than gasoline or diesel.
• The industry in Europe is projected to grow at the fastest pace in the coming years, owing to high diesel prices, carbon reduction goals, and policies favoring low-emission vehicles.
• A few global key CNG market players include Bharat Petroleum Corporation Limited; BP Plc; Chevron Corporation; Eni S.p.A; EOG Resources, Inc.; Exxon Mobil Corporation; Gujarat Gas Ltd.; Lukoil; Shell plc; and TotalEnergies.

Polaris Market Research has segmented the CNG market report on the basis of source, application, and region:

By Source Outlook (Revenue, USD Billion, Volume Million Cubic Meter, 2020–2034)

• Refinery
• Associated Gas
• Non-Associated

By Application Outlook (Revenue, USD Billion, Volume Million Cubic Meter, 2020–2034)

• Light Duty Vehicles
• Medium/Heavy Duty Trucks
• Medium/Heavy Duty Buses
• Other

By Regional Outlook (Revenue, USD Billion, Volume Million Cubic Meter, 2020–2034)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America