Global natural gas fueling market to grow

The global natural gas refueling stations market is expected to grow during the forecast period due to an increased interest in low-carbon emitting alternate fuels and the need for cleaner energy sources.

“Natural gas can be used in the forms of CNG and LNG. It can also be used in different modes of transport such as rail, road, off-road, marine, and in aviation. Natural gas is cheaper than gasoline and diesel and its prices are less volatile than international oil prices, which reduces the burden of importing heavily,” according to Vishu Rai, lead research analyst at Technavio for oil and gas.

APAC is the leading and the fastest growing region for natural gas refueling stations. High dependence on fossil fuels and increased pollution levels in countries such as India, China, and Pakistan have prompted the governments in these countries to support the use of natural gas over gasoline and diesel.

While in the Americas it is Brazil, Argentina, and the US which account for the maximum refueling station installations in this region. In addition, the stringent emission regulations and abundance of gas reserves in the region have helped increase the number of NGVs as well as the expansion of the necessary natural gas infrastructure.

In Europe, Italy is the leading country in the region with the biggest number of natural gas refueling stations. The natural gas stations market in these countries is driven by the need for energy independence and climate change mitigation.