LNG or Liquefied natural gas is natural gas that is converted to a liquid form for the simplicity of storage or transport through cooling natural gas to approximately 162ºC, fuel is distributed to the station site & stored in a particular insulated cryogenic tank. The fuel is propelling from the storage tank & dispensed in a way that is similar to liquid fuels. It is stored at effectively atmospheric pressure. It is colorless, odorless, non-toxic and non-corrosive. It reduces sulphur emissions, particulates& nitrogen oxides (NOx), and helps reduce greenhouse gas emissions from manufacture to use. The LNG filling station sells LNG to vehicles consisting of pump skid, LNG tank, and submersible pump, carburetor, booster truck carburetor, EAG heater, plus liquid machine etc. These stations rely on the bulk release of fuel via tanker trucks similar to the method in which gasoline and diesel are delivered to over the filling stations.
According to study, “Global LNG Filling Stations Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the major companies that are currently operating in the global LNG filling stations market are Kunlun Energy, ENN Energy Holding, CNOOC, Sinopec, Guanghui, FortisBC, Cryostar, Engie. The key players are competing in the industrialized, supply, sales, market revenue, income generation, and after sales-processes.
Based on type, global LNG filling stations market is segmented into permanent station and mobile station. The permanent stations are dispensed into the vehicle through fuel dispensers. Moreover, the mobile stations serve small fleet of vehicles which are used for emergency refueling of vehicle. Based on type of standard, the market is segmented into skid-mounted station, combined station and standard station. The skid-mounted stations are segmented into two types: one is fixed on ground and the other is installed in vehicles which can shift to anywhere. The combined station provides both gasoline and liquefied natural gas. Based on the component, the market is segmented into storage tanks, control systems, pumps, all required safety devices, air compressors, dispensers, nitrogen (N2) generators, BOG handling systems and LCNG equipment. Based on application, market is segmented into ship and vehicle. The ship application section comprises ships & barges running on LNG. The vehicle consists of automobiles running on LNG which are mainly heavy duty vehicles utilizing LNG as fuel source.
The market of global LNG filling stations is primarily driven by fiscal regime & subsidies, followed by environmental benefits and energy cost benefit of LNG over alternate energy sources. Apart from the key benefits, market is also impacted by few of the challenges which include expensive supply chain and limited receiving terminal infrastructure. In addition, few opportunities adding to integration for the new technologies and LNG as fuel in transport & power generation applications.
The Asia Pacific market is anticipated to lead the market during the anticipated period, followed by North America as a result of the large number of LNG fuel stations, and rise in number of heavy duty, vehicles in the region. It is further estimated that the global LNG filling stations market is expected to remain bright due to register the increased demand from natural gas as a cleaner substitute for the other fossil fuels.
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Ankur Gupta, Head Marketing & Communications