On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel. The ongoing coronavirus pandemic has had a catastrophic impact on the global oil and gas industry. Declining consumer demand and high levels of production output are threatening to exceed oil storage capacities, which resulted in the lowest ever oil prices noted between April 20th and April 22nd.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

In the second quarter of 2022, the average retail price for a gallon of regular gasoline stood at around 4.49 U.S. dollars, up from the previous quarter. A glut in oil supply between 2014 and 2016 forced down prices and led to a low average U.S. gasoline price of roughly 1.9 U.S. dollars per gallon in the first quarter. Gasoline prices fluctuated considerably between 2019 and 2020 as a result of tensions between the United States and other oil exporters, such as Iran, and stifling oil demand during the Covid-19 pandemic. The price of West Texas Intermediate briefly dipped in the negative in April 2020. Seasonal price variations
There are periodic fluctuations in gasoline prices in the United States, where the second and third quarters are typically more expensive than the rest of the year. One of the factors contributing to changing gasoline prices is a decrease in production from refineries due to maintenance work in tandem with an increase in demand, as holiday goers make road-trips. Gasoline will revert to cheaper winter-grade in September. Annual motor vehicle consumption in the United States was around 128 billion gallons as of 2020.

Canadian drivers should expect to pay more at a gas station as economic conditions begin to improve after the pandemic.

On July 7, 2025, the Brent crude oil price stood at 69.62 U.S. dollars per barrel, compared to 67.93 U.S. dollars for WTI oil and 69.92 U.S. dollars for the OPEC basket. Prices rose slightly that week, following signs of an increase in demand.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

The average monthly price for natural gas in the United States amounted to **** nominal U.S. dollars per million British thermal units (Btu) in May 2025. By contrast, natural gas prices in Europe were about three times higher than those in the U.S. Prices in Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over ** U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than ** percent between 2021 and 2023. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2023, the U.S. produced more than ************ cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

Monthly average retail prices for gasoline and fuel oil for Canada, selected provincial cities, Whitehorse and Yellowknife. Prices are presented for the current month and previous four months. Includes fuel type and the price in cents per litre.

Gasoline prices in the United States have experienced significant fluctuations over the past three decades, with 2024 seeing an average price of 3.3 U.S. dollars per gallon. This marks a notable decrease from the record high of 3.95 U.S. dollars per gallon in 2022, yet remains considerably higher than prices seen in the early 2000s. Despite this, American consumers continue to enjoy relatively low gasoline prices compared to many other countries, with some European countries paying more than double the U.S. average. Drivers in Hawaii and California pay the most at the pump Gasoline prices vary significantly across the United States, with Hawaii and California consistently ranking as the most expensive states for this fuel. As of January 1, 2025, Hawaii's average price for regular gasoline was 4.54 U.S. dollars per gallon, nearly 1.5 dollars above the national average. California's high prices are largely attributed to its steep gasoline taxes, which reached 68.1 U.S. cents per gallon in January 2024. These taxes play a crucial role in shaping retail prices and are typically reinvested in road infrastructure, demonstrating the direct link between fuel costs and transportation development. Patterns in gasoline consumption In a global context, the United States maintains some of the lowest conventional motor fuel prices among high-income countries. This is largely due to its position as the world's largest crude oil producer, allowing it to keep retail prices comparatively low. Despite fluctuations in price, gasoline consumption in the U.S. remains robust, averaging around 8.5 million barrels per day in 2024. Consumption tends to be highest in the summer months and lowest in the winter months due to changing driving behavior.

Saudi Arabia Fuel Prices: Retail: Gasoline 91 data was reported at 2.180 SAR/l in Apr 2025. This stayed constant from the previous number of 2.180 SAR/l for Mar 2025. Saudi Arabia Fuel Prices: Retail: Gasoline 91 data is updated monthly, averaging 2.180 SAR/l from Jul 2020 (Median) to Apr 2025, with 58 observations. The data reached an all-time high of 2.180 SAR/l in Apr 2025 and a record low of 1.290 SAR/l in Jul 2020. Saudi Arabia Fuel Prices: Retail: Gasoline 91 data remains active status in CEIC and is reported by Saudi Arabian Oil Company. The data is categorized under Global Database’s Saudi Arabia – Table SA.P016: Fuel Prices. [COVID-19-IMPACT]

Europe’s petroleum and natural gas extraction support services’ revenue is forecast to contract at a compound annual rate of 3.8% over the five years through 2024 to €62.1 billion. Widespread disruption caused by the COVID-19 pandemic weighed heavily on extraction and exploration activity in downstream oil and gas markets as poor demand conditions caused prices to plummet, disincentivising new investment and causing support service contractors to offer price concessions to customers, compounding the industry’s weak revenue performance and weighing on profitability. Demand has increased since lockdown restrictions eased, supporting revenue over 2021 and 2022. Russia’s invasion of Ukraine led to significant price increases in both oil and gas due to supply uncertainties. This also led to Norway becoming Europe’s largest natural gas supplier in 2022, supporting revenue opportunities for Norwegian contractors. Norway has also increased the level of investment into new oil and gas fields to alleviate uncertainties regarding supply following trade restrictions placed on Russian oil and gas. Nonetheless, weakening demand and falling oil and gas prices have contributed to an expected revenue slump of 20.3% in 2024. Over the five years through 2029, revenue is forecast to climb at a compound annual rate of 7% to €87.2 billion. New investments into oil and gas fields will provide contractors with new revenue opportunities, supporting revenue growth and expanding profitability. However, ongoing efforts across Europe to meet environmental and emissions targets, like net zero by 2050, will continue to threaten demand for oil and gas, somewhat limiting revenue growth.

Learn about the various factors that affect the price of ammonia gas including supply and demand, production costs, and government regulations. Find out why changes in these factors can result in fluctuations in ammonia gas prices and how its use in industries such as fertilizers, chemicals, and pharmaceuticals impact its price. Discover the current average price of ammonia gas and how the COVID-19 pandemic has affected the global ammonia market.

Switzerland Fuel Price: Value: 14000 to 20000 Litre data was reported at 96.310 CHF/100 l in Apr 2025. This records an increase from the previous number of 95.760 CHF/100 l for Mar 2025. Switzerland Fuel Price: Value: 14000 to 20000 Litre data is updated monthly, averaging 78.670 CHF/100 l from Jan 2000 (Median) to Apr 2025, with 304 observations. The data reached an all-time high of 155.370 CHF/100 l in Aug 2022 and a record low of 35.480 CHF/100 l in Feb 2002. Switzerland Fuel Price: Value: 14000 to 20000 Litre data remains active status in CEIC and is reported by Swiss Federal Statistical Office. The data is categorized under Global Database’s Switzerland – Table CH.P002: Fuel Prices. [COVID-19-IMPACT]

This study investigates the relationship between consumer sentiment (CONS), inflation expectations (INEX) and international energy prices, drawing on principles from behavioral. We focus on Brent crude oil price and Henry Hub natural gas prices as key indicators of energy market dynamics. Based on the monthly data from January 2003 to March 2023, three wavelet methods are applied to examine the time-frequency linkage, while the nonlinear distributed lag model (NARDL) is used to verify the asymmetric impact of two factors on energy prices. The results highlight a substantial connection between consumer sentiment, inflation expectations and international energy prices, with the former in the short term and the latter in the medium to long term. Especially, these correlations are particularly pronounced during the financial crisis and global health emergencies, such as the COVID-19 epidemic. Furthermore, we detect short-term asymmetric effects of consumer sentiment and inflation expectations on Brent crude oil price, with the negative shocks dominating. The positive effects of these factors on oil prices contribute to observed long-term asymmetry. In contrast, inflation expectations have short-term and long-run asymmetric effects on natural gas price, and both are dominated by reverse shocks, while the impact of consumer sentiment on natural gas prices appears to be less asymmetric. This study could enrich current theories on the interaction between the international energy market and serve as a supplement to current literature.

Snapshot img

The oil and gas drilling automation market share is expected to increase by USD 206.7 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 1.64%.

This oil and gas drilling automation market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers oil and gas drilling automation market segmentation by application (onshore and offshore) and geography (North America, Europe, APAC, MEA, and South America). The oil and gas drilling automation market report also offer information on several market vendors, including ABB Ltd., Akastor ASA, Ensign Energy Services Inc., Honeywell International Inc., Kongsberg Gruppen ASA, Nabors Industries Ltd., National Oilwell Varco Inc., Rockwell Automation Inc., Schlumberger Ltd., and Siemens AG among others.

What will the Oil And Gas Drilling Automation Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Oil and Gas Drilling Automation Market Size for the Forecast Period and Other Important Statistics

'Offshore rigs are equipped with cybernetics systems to improve equipment manipulation and automate key processes such as pipe handling, jacking, and fixation. Therefore, the recovery in crude oil prices is expected to drive the adoption of O&G drilling automation solutions globally during the forecast period.'

Oil And Gas Drilling Automation Market: Key Drivers, Trends, and Challenges

The O&G price recovery is notably driving the oil and gas drilling automation market growth, although factors such as high ownership costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the oil and gas drilling automation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Oil And Gas Drilling Automation Market Driver

O&G price recovery is a major driver fueling the oil and gas drilling automation market growth. Since 2019, the moderate recovery in crude oil prices has spurred growth in oil and gas (O&G) extraction projects in countries such as the US, Saudi Arabia, Oman, and Kuwait. Rapid fluctuations in crude oil prices adversely impacted the economic activities in oil-dependent regions such as the Middle East during 2016-2019. Owing to factors such as the limited production of crude oil in key oil-producing countries, such as the US and Russia, and geopolitical factors, such as the US-China trade war, oil prices witnessed considerable stability in 2019. Additionally, the restoration of oil production facilities in Saudi Arabia to full capacity is expected to cater to the global demand for O&G at stable prices during the forecast period.Owing to rapid advances in automation and system integration technologies, automated drilling solutions are finding increased adoption in onshore and offshore oil and gas sites. Offshore rigs are equipped with cybernetics systems to improve equipment manipulation and automate key processes such as pipe handling, jacking, and fixation. Therefore, the recovery in crude oil prices is expected to drive the adoption of O&G drilling automation solutions globally during the forecast period.

Key Oil And Gas Drilling Automation Market Trend

The adoption of IoT technology is the major trend influencing the oil and gas drilling automation market growth. The adoption of the internet of things (IoT) devices for in-depth monitoring and data capturing in the O&G industry is improving the overall efficiency of O&G operations. With crude oil prices registering considerable recovery over the last two years, rig operators and oil producers are emphasizing optimizing the energy efficiency of oilfields. IoT devices are being increasingly used in the O&G industry for a range of applications, including drilling management, pipeline testing, and monitoring, among others. IoT enables oil rig operators and refineries to monitor key performance parameters such as pipe pressure and flow rate. Additionally, IoT ensures accurate and real-time data collection at locations that are not easily accessible. Smart devices provide notifications in advance to operators about any drilling errors or incorrect measurements, thereby minimizing the requirement for routine manual inspections. Advances in connected technologies such as low-power wide-area networks (LPWAN) enable connectivity between monitoring sensors in remote offshore applications. Therefore, the rising adoption of IoT in drilling activities is expected to drive the growth of the global O&G drilling automation market during the forecast period.

Key Oil And Gas Drilling Automation Market Challenge

High ownership costs are a major hindrance to the oil and gas drill

Saudi Arabia Fuel Prices: Retail: Gasoline 95 data was reported at 2.330 SAR/l in Apr 2025. This stayed constant from the previous number of 2.330 SAR/l for Mar 2025. Saudi Arabia Fuel Prices: Retail: Gasoline 95 data is updated monthly, averaging 2.330 SAR/l from Jul 2020 (Median) to Apr 2025, with 58 observations. The data reached an all-time high of 2.330 SAR/l in Apr 2025 and a record low of 1.440 SAR/l in Jul 2020. Saudi Arabia Fuel Prices: Retail: Gasoline 95 data remains active status in CEIC and is reported by Saudi Arabian Oil Company. The data is categorized under Global Database’s Saudi Arabia – Table SA.P016: Fuel Prices. [COVID-19-IMPACT]

In 2020, the decline in the global coal market gathered momentum, against the Covid-19 pandemic. The low cost of natural gas, combined with the development of alternative energy sources and stricter environmental regulations, are pushing the coal energy sector into stagnation. In the medium term, only the metallurgical industry is set to see a stable demand for coal.

Switzerland Fuel Price: Value: 3001 to 6000 Litre data was reported at 99.150 CHF/100 l in Apr 2025. This records an increase from the previous number of 98.400 CHF/100 l for Mar 2025. Switzerland Fuel Price: Value: 3001 to 6000 Litre data is updated monthly, averaging 82.190 CHF/100 l from Jan 2000 (Median) to Apr 2025, with 304 observations. The data reached an all-time high of 158.530 CHF/100 l in Aug 2022 and a record low of 38.330 CHF/100 l in Feb 2002. Switzerland Fuel Price: Value: 3001 to 6000 Litre data remains active status in CEIC and is reported by Swiss Federal Statistical Office. The data is categorized under Global Database’s Switzerland – Table CH.P002: Fuel Prices. [COVID-19-IMPACT]

According to Cognitive Market Research, the global Natural Gas Liquids market size will be USD 17542.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 7016.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 5262.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 4034.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 877.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 350.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
The ethane category is the fastest growing segment of the Natural Gas Liquids industry

Market Dynamics of Natural Gas Liquids Market

Key Drivers for Natural Gas Liquids Market

Increasing Petrochemical Industry to Boost Market Growth

The market for natural gas liquids (NGL) is mostly driven by the expanding petrochemical sector. Natural gas liquids (NGLs) like ethane, propane, and butane are vital raw materials for the synthesis of petrochemicals like ethylene and propylene, which are extensively utilized in the creation of synthetic materials, chemicals, and plastics. The need for NGLs is rising due to the petrochemical industry's explosive growth, particularly in North America and Asia. The utilization of NGLs in a variety of applications is growing as a result of growing industrialization and technological developments in chemical processing. The global need for consumer goods, packaging, and industrial materials is driving the petrochemical industry's growth, which in turn will fuel the NGL market's long-term growth.

The Surge in Shale Gas Production to Drive Market Growth

The market for natural gas liquids (NGL) is growing as a result of increased shale gas output. Production of NGLs, including ethane, propane, and butane, has expanded because of the spike in shale gas extraction, especially in North America, through horizontal drilling and hydraulic fracturing technology. These liquids are frequently left over after natural gas from shale formations is extracted. In order to fulfill growing global demand, the U.S. shale boom has improved export prospects and supported local NGL supplies. The supply of NGLs is directly increased by the ongoing expansion of shale gas production, which fosters the long-term growth of the NGL market by meeting the increasing demand from sectors such as transportation, energy, and petrochemicals.

Restraint Factor for the Natural Gas Liquids Market

Price Volatility for Crude Oil Will Limit Market Growth

The volatility of crude oil prices severely constrains

The natural gas liquids (NGL) market. Because NGLs are frequently extracted in conjunction with crude oil and natural gas, changes in oil prices have an immediate effect on how profitable it is to produce NGLs. Oil and gas companies may cut back on drilling when crude oil prices drop, which lowers the output of NGLs. Furthermore, a decline in oil prices may increase the appeal of alternative energy sources, which would lessen the market for NGLs. On the other hand, sudden spikes in oil prices can cause market instability and increase the operational expenses for NGL producers. It is difficult for NGL market participants to sustain consistent growth because of this price volatility, which also makes long-term planning more difficult and causes investor concern.

Impact of Covid-19 on the Natural Gas Liquids Market

The COVID-19 pandemic had a substantial effect on the natural gas liquids (NGL) market because it caused supply chain disruptions on a worldwide scale, decreased energy consumption, and a steep reduction in industrial activity. Lockdowns and limitations reduced the demand for NGLs, especially in the transportation and petrochemical sectors, which are big users of butane, propane, and ethane. The demand for NGLs as alter...

Snapshot img { margin: 10px !important; } The subsea production systems market share is expected to increase by USD 967.58 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2.96%.

This subsea production systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers subsea production systems market segmentations by equipment type (SURF, pressure control system, subsea trees, and manifold) and geography (Europe, APAC, North America, MEA, and South America). The subsea production systems market report also offers information on several market vendors, including Aker Solutions ASA, Dril-Quip Inc., General Electric Co., Halliburton Co., Nexans SA, NOV Inc., Prysmian Spa, Schlumberger Ltd., Siemens AG, and TechnipFMC Plc among others.

What will the Subsea Production Systems Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Subsea Production Systems Market Size for the Forecast Period and Other Important Statistics

Subsea Production Systems Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rising deep and ultra- deepwater drilling projects is notably driving the subsea production systems market growth, although factors such as fluctuations in oil and gas prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the subsea production systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Subsea Production Systems Market Driver

One of the key factors driving the subsea production systems market growth is the rising deep and ultra- deepwater drilling projects. Oil and gas upstream companies have been extracting oil and natural gas from onshore wells for many years. In offshore drilling, oil and gas companies are shifting their focus from shallow waters to deepwater and ultra-deepwater resources due to large untapped reserves. Drilling in offshore locations is more challenging than drilling in onshore locations owing to the harsh environment. The depletion of easy-to-extract oil has resulted in an increase in the cost of hydrocarbon acquisition, along with the displacement of drilling operations geographically. Thus, with the depletion of resources in easily accessible locations, such as onshore wells, companies are looking for less explored areas. As a result, the number of offshore drilling projects is increasing. The rise in oil and gas drilling activities in offshore deepwater and ultra-deepwater oil and gas wells will increase the demand for subsea production and processing activities, which, in turn, will support the market in focus during the forecast period.

Key Subsea Production Systems Market Trend

ERD technology is the major trend influencing subsea production systems market growth. Extended reach drilling (ERD) well is defined as the well with a step-out to TVD (True vertical depth) ratio of 2:1 or higher. There are several other factors taken into consideration, such as key drilling challenges, water depth, and rig capabilities. Though the use of ERD technology in the current oil and gas market is not feasible, it is expected to be used in time, as using this technology is about the economics and demand in the market. Over the past two years of low crude oil prices, the operators have adopted this technology, which made the overall project commercially viable. Some ERD development projects in this scenario include BP Wytch Farm in Poole Harbour, a land to offshore project on the South Coast of the UK, and Santa Barbara Channel, an offshore project in California. An increase in the use of this technology for reducing the cost of offshore infrastructure while mitigating the environmental impacts associated with a smaller drilling footprint will impact the market of subsea production systems positively.

Key Subsea Production Systems Market Challenge

Fluctuations in oil and gas prices is one of the key challenges hindering the subsea production systems market growth. During 2012-2014, the US produced plenty of shale oil, which increased the global crude oil supply and reduced US crude oil imports. From 2013 to 2014, crude oil prices fell by 47.85%. According to the IEA, the volume-weighted average crude oil import cost for Germany, France, Spain, Italy, Japan, the UK, the US, and Canada in 2012 was $107.78 per barrel. The falling crude oil and natural gas prices had a negative impact on the oil and gas upstream sector. Upstream companies are affected adversely when crude oil prices fluct

Snapshot img { margin: 10px !important; } The natural gas refueling stations market share is expected to increase by 8532.00 units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.41%.

This natural gas refueling stations market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (CNG and LNG), type (fast-fill stations and time-fill stations), and geography (APAC, North America, Europe, MEA, and South America). The natural gas refueling stations market report also offers information on several market vendors, including Atlas Copco AB, Clean Energy Fuels Corp., Dover Corp., Exxon Mobil Corp., GAIL (India) Ltd., Gilbarco Inc., GreenLine, Ingersoll Rand Inc., Linde Plc, and Torrent Gas Pvt. Ltd., among others.

What will the Natural Gas Refueling Stations Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Natural Gas Refueling Stations Market Size for the Forecast Period and Other Important Statistics

Natural Gas Refueling Stations Market: Key Drivers and Challenges

Based on our research output, there has been a negative impact on the market growth during and post the COVID-19 era. The demand for cleaner fuels is notably driving the natural gas refueling stations market's growth, although factors such as the fall in oil prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the natural gas refueling stations market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Natural Gas Refueling Stations Market Driver

Natural gas is a clean and affordable alternative to fossil fuels such as diesel, gasoline, and fuel oil. It is used in vehicles in compressed or liquefied form. Carbon dioxide emissions have been growing in accordance with an increase in economic activities. Efforts by countries across the world in decarbonizing the power system by shifting to renewable energy have helped in controlling carbon dioxide emissions. The burning of natural gas results in less pollution, which explains its increasing use in the transportation sector; thus, driving the global natural gas refueling stations market growth.

Key Natural Gas Refueling Stations Market Challenge

Natural gas can be easily substituted by gasoline and diesel. Global oil prices have witnessed a steep decline in recent times. This significant decline in oil prices is attributed to the supply-demand imbalance of crude oil in the global market. Cost-benefits of natural gas over conventional fuels were one of the major driving factors pushing the use of natural gas as a fuel in the transportation industry. However, the multi-year decline in oil prices has made switching to alternative fuel vehicles a less attractive proposition. Thus, the fall in oil prices is expected to impede natural gas refueling stations market growth during the forecast period.

This natural gas refueling stations market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Natural Gas Refueling Stations Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

Atlas Copco AB
Clean Energy Fuels Corp.
Dover Corp.
Exxon Mobil Corp.
GAIL (India) Ltd.
Gilbarco Inc.
GreenLine
Ingersoll Rand Inc.
Linde Plc
Torrent Gas Pvt. Ltd.

This statistical study of the natural gas refueling stations market encompasses successful business strategies deployed by the key vendors. The natural gas refueling stations market is fragmented, and the vendors are deploying growth strategies such as distinguishing their products and service offerings through clear and unique value propositions to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The natural gas refueling stations market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Natural Gas Refueling Stations Market?

For more insights on the mark