General Electric and Galileo Technologies to Lead Virtual Pipeline and Plug-and-Play CNG System Market
Stringent government regulations for
emission control, growing natural gas production and aging natural gas
infrastructure to drive global virtual pipeline and plug-and-play CNG system
market through 2023
According to TechSci
Research report, “Global Virtual Pipeline and Plug-and-Play CNG System Market By Application, By
Container Size, By Region, Competition Forecast & Opportunities, 2013 -
2023’’, the global virtual pipeline and
plug-and-play CNG system market is projected to grow at a CAGR of more than 12%
during 2018 - 2023. Rising
demand for natural gas, stringent government regulations for emission control
and government initiatives in surgical drilling contracts and exploration
investments are the major factors expected to fuel the market. Moreover, development of shale gas fields and
production of synthetic natural gas from coal and biomass are boosting demand
for virtual pipeline and plug-and-play CNG systems, globally. General Electric
and Galileo Technologies are the largest market players, owing to their huge
distribution channel in more than 100 countries across the globe.
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In terms of container size, Type II category dominates global virtual
pipeline and plug-and-play CNG system market, owing to their
easy mobility. Moreover,
small-scale LNG plants are used to create virtual pipelines in areas
where the construction of costly infrastructure is inefficient or where it is impossible
to lay down the pipelines. Transportation sector accounted for the largest market share in 2017
and is likely to continue dominating the market, backed by increasing government
regulations aimed at controlling emissions and boosting the usage of natural
gas vehicles. Asia-Pacific is the largest market for virtual pipeline and plug-and-play CNG systems, owing to increasing use of natural gas and lack of adequate
pipeline infrastructure across the region.
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“With increasing production
of natural gas across North America, Europe, Middle East, and Asia-Pacific, demand
for virtual pipeline and
plug-and-play CNG systems is bound to grow. Moreover, supply of natural gas is likely to increase, owing to rising
shale gas production coupled with increasing production of synthetic natural
gas across the globe. Owing
to the aforementioned factors, the global virtual pipeline and plug-and-play CNG
system market is anticipated to witness significant growth during the forecast
period.”, 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 Container Size, By Region,
Competition Forecast & Opportunities, 2013 - 2023” has evaluated the future growth
potential of global virtual pipeline and plug-and-play CNG system market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decision. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in Global
virtual pipeline and plug-and-play CNG system market.
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