Natural gas compressed to a pressure
of 200-250 bars which results in 200-250 folds reduction in volume, is referred
to as compressed natural gas. It is a colourless, odourless, highly flammable,
and non-corrosive gaseous hydrocarbon. Natural gas is primarily composed of
methane and ethane. It is stored and distributed in hard containers which are
usually cylindrical or spherical in shape. CNG has emerged as an abundant,
clean, and safe alternative fuel and produces 28% less CO2 and other greenhouse
gases compared to petrol and other fuels. Owing to its eco-friendly nature, it
is widely used as a fuel for transportation. In industrial settings CNG is the
second most important source of energy after electricity; it is primarily
consumed in paper and pulp, plastic, food processing, metal, glass, and
petroleum refining industries.
A double digit growth has been
witnessed in the CNG market during the last decade and it is expected to grow
at the same rate over the next six years. The growing demand for CNG by the
automotive industry is expected to drive the global market for CNG. The
European and Asia-Pacific markets are likely to increase their CNG consumption
and are expected to grow at a steady pace from 2012 to 2018.
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One of the major factors driving the
global market for CNG is the cost benefit offered by CNG over other fuel types
such as gasoline and diesel. The global CNG vehicle market is expected to reach
19 million units by 2018. In order to decrease reliance on petrol, a
non-renewable and rapidly depleting source, companies are continuously looking
to shift their focus towards alternative sources of fuels. CNG, along
with providing a clean solution, is also considered to be a more economical and
feasible option compared to conventional fuels. Many countries adopted a legal
norm of giving tax incentives for buying CNG vehicles, which in turn helps
buyers to compensate for the higher prices of such vehicles. Vehicles powered
by CNG require lower maintenance and cause lesser environmental degradation,
which in turn is driving its demand at a global level.
Some of the major factors inhibiting
the growth of the market include insufficient fuelling stations, the high cost
for developing CNG based infrastructure, high operational costs, and the high
cost of conversion. Natural gas extraction may also result in environmental
consequences.
Some of the market players in this
industry are Birla Power Solutions Ltd., Techlab Autogas Pvt. Ltd., Megatech
Components Pvt. Ltd., Ark Pvt. Ltd., Axis Autogas, Chemotech Fabcon Pvt. Ltd,
and Light Trading Company Ltd.,etc.
This research report analyzes this
market depending on its market segments, major geographies, and current market
trends.
Geographies analyzed under this
research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming
years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review of
micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point
analysis for changing competitive dynamics
- It provides a forward looking
perspective on different factors driving or restraining market
growth
- It provides a technological
growth map over time to understand the industry growth rate
- It provides a seven-year
forecast assessed on the basis of how the market is predicted to
grow
- It helps in understanding the
key product segments and their future
- It provides pin point analysis
of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed
business decisions by having complete insights of market and by making
in-depth analysis of market segments
- It provides distinctive
graphics and exemplified SWOT analysis of major market segments
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Metal Matrix Composites Market - Global Industry Size, Share, Trends,
Analysis and Forecasts, 2012 – 2018: http://www.marketresearchreports.biz/analysis/166818
A composite material with at least two parts one being metal
and other compound may be ceramic, organic material or another metal is called
a metal matrix composite. Metal matrix composites can be manufactured by three
main types: solid, liquid and gaseous. Metal matrix composites are widely used
in ground transportation, electronics, aerospace, industrial use, construction
and in consumer products.
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