Virtual Pipeline and Plug-and-Play CNG System Market to Grow at Over 11% till 2022
Growing consumption coupled with rising investments
for exploration and production of natural gas to propel demand for virtual pipeline and Plug-and-Play CNG
systems globally, through 2022
According
to a recently published TechSci Research report “Global Virtual Pipeline and Plug-and-Play CNG System Market By Application, By Region, Competition Forecast and
Opportunities, 2012 - 2022”, global virtual pipeline and
Plug-and-Play CNG system market is forecast to exhibit a CAGR of over 11%
during 2017-2022. Recovering natural gas prices,
increasing natural gas consumption and aging natural gas pipeline
infrastructure in Europe and North America are a few of the major factors driving
demand for virtual pipeline and Plug-and-Play CNG systems
globally. Asia Pacific and North America were the leading countries in global
virtual pipeline and Plug-and-Play CNG system in 2016. Infrastructural reforms
happening in the APAC region that is being funded by governments of respective countries,
is one of the major factor fueling demand for virtual pipeline and
Plug-and-Play CNG systems. Nearly 66% of the total spending on oil & gas
transportation infrastructure is happening in Non-OECD nations, while rest of
the spending in being done in OECD countries. Hence, increasing focus towards
replacement or removal of aging natural gas pipelines, which is anticipated to
surge demand for virtual pipeline network globally, during 2017-2022.
Browse 12 market data Tables and 87 Figures spread
through 172 Pages and an in-depth TOC on "Global Virtual Pipeline and Plug-and-Play CNG
Systems"
https://www.techsciresearch.com/report/global-virtual-pipeline-and-plug-and-play-cng-system-market-by-application-transportation-industrial-residential-by-region-asia-pacific-north-america-south-america-and-middle-east-africa-competition-forecast-and-opportunities/980.html
China has one of the largest virtual pipeline and Plug-and-Play CNG
system market globally, owing to large network of daughter CNG stations in the
country. Moreover, GE Oil & Gas company has collaborated with China
endurance industry and the government is expected to purchase GE’s 260 CNG in a
Box units over next three years. Asia-Pacific Natural Gas Vehicles Association
(ANGVA) was established in 2002, with an objective to boost consumption of
natural gas in transportation sector in APAC region. To do so, it has been
conducting international conferences with an objective to develop safe,
profitable and sustainable market for natural gas in Asia-Pacific. Thus, APAC
virtual pipeline and Plug-and-Play CNG system market is expected to surge in
the coming years, owing to rising consumption of natural gas in the region. Global
virtual pipeline and Plug-and-Play CNG system market was dominated by
transportation sector over the past few years, due to rising demand for CNG as
a fuel. CNG as compared to gasoline and diesel, is both eco-friendly and cheap.
Hence, government in various nations across the globe are promoting use of CNG
as a fuel.
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“Growth in global virtual pipeline and
Plug-and-Play CNG system market can be attributed to increasing regulations by
various governments towards controlling emission of harmful gases and expanding
city gas distribution network globally. Moreover, demand and production of natural
gas is also increasing, which would consequently propel demand for virtual
pipeline and Plug-and-Play CNG systems across the globe. Furthermore,
replacement of aging pipelines and rising exploration of unconventional energy
resources are further anticipated to propel global virtual pipeline and Plug-and-Play CNG system market during
2017-2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global Virtual Pipeline and
Plug-and-Play CNG System Market By Application, By Region, Competition Forecast
and Opportunities, 2012 - 2022” has evaluated global virtual pipeline and
Plug-and-Play CNG system market
and provides the statistics and information on market structure, industry behavior
and trends. The report is intended to provide cutting-edge market intelligence
and help decision makers to take sound investment evaluation. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers, challenges and opportunities in the global virtual pipeline and
Plug-and-Play CNG system market.
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