San Francisco, California, November 02, 2018: The global market for CNG dispenser market is anticipated to grow at stellar rate owing to rising trend in the consumption of compressed natural gas during the forecast period, 2018 – 2028. High use of fossil fuels for generating power have incessantly increased the carbon rate in the atmosphere, resulting in rising overall temperature, cause global warming. Apart, from these, emission of carbon has also impaired the environment, these have resulted in the use of alternatives such as CNG, bolstering demand of the market. TMR Research, published a report titled, “CNG Dispenser Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2028”, which consists of detailed insight of the market along with various market dynamics such as trends, opportunities, and restraints.
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Rising vehicle pollution all across the world is augmenting the sales rate of CNG dispenser market. Government of both developed and developing countries are finds ways to curtail the air pollution caused by vehicles, by implementing various rules and regulation. Governments across nations have also funded on research and development team to come up with solutions, which is anticipated to foster the growth of market. Encouraging consumers to uptake CNG run vehicle and spreading awareness regarding harmful effects of fossil fuels are prognosticated to help the market.
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However, the global CNG dispenser market is faced with serious restrains. One of the major restrains is the rising popularity of biofuels in industries. Companies focusing on green fuel segment are seen to grow interest in biofuels, as they continue to carry extensive research and produce efficient products of it. Switch from fossil fuels to biofuels is considered to be cost effective in comparison to that of CNG. Another factor deterring the growth of the market is the advent of battery powered electric vehicles. These vehicles which runs of electricity is expected to hamper the growth of market.