Press Release

Sep, 25 2024

Increasing Stringent Environmental Policies and Emission Reduction Targets in Serbia, Romania, and Bulgaria support the Adoption of CNG Drives the Demand for Serbia, Romania, and Bulgaria CNG (Compressed Natural Gas) Fuel Market

The CNG fuel market in Serbia, Romania, and Bulgaria covers the entire lifecycle of compressed natural gas as a transportation fuel, from production and distribution to consumption. It involves building infrastructure such as refueling stations, advancing CNG vehicle technology, and implementing regulations that support cleaner energy. The aim is to cut emissions and reduce reliance on traditional fuels, while exploring the unique economic and environmental advantages for each country.

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Data Bridge Market Research analyzes the Serbia, Romania, and Bulgaria CNG (Compressed Natural Gas) Fuel Market is expected to reach USD 749.83 million by 2035 from USD 563.98 million in 2023, growing with a substantial CAGR of 2.4% in the forecast period of 2024 to 2035. Rising economic benefits of using CNG will drive the market growth.

Key Findings of the Study

Serbia, Romania, and Bulgaria CNG (Compressed Natural Gas) Fuel Market

Increased Government Incentives and Subsidies Promoting the Use of CNG

Serbia, Bulgaria, and Romania are accelerating the adoption of Compressed Natural Gas (CNG) through government incentives and subsidies aimed at reducing urban pollution and meeting EU environmental standards. Serbia offers financial subsidies for CNG vehicles and is expanding its refueling infrastructure. Bulgaria provides grants, tax breaks, and support for CNG infrastructure projects. Romania has implemented a comprehensive strategy with subsidies, tax incentives, and investments in CNG technology, particularly in public transportation. These initiatives are driving the shift toward cleaner energy alternatives, making CNG more accessible and affordable across all three countries.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2035

Base Year

2023

Historic Years

2022 (Customizable to 2021-2016)

Quantitative Units

Revenue in USD Million, Volume in Tons, and Pricing in USD/Kg

Segments Covered

Products (CNG (Methane-Natural Gas Stored Under High Pressure and Used As Transportation Fuel) and BioCNG (Biomethane)), Source (Associated Gas and Non-Associated Gas), Kits (Sequential and Venturi), Fuel Chamber (Dual-Fuelled Vehicles and Dedicated (CNG-Fuelled) Vehicles), Vehicle Type (Private and Fleet), CNG Fuel Stations Offering (Monofuel Refuelling Stations (Offering Solely CNG) and Multifuel Refuelling Stations (Offering Conventional Fuels and CNG), CNG Fuel Stations Entity (Public Refuelling Stations (Free Access at the Station) and Private/Internal), End Use (Light Motor Vehicles, Medium Motor Vehicles, and Heavy Motor Vehicles)

Countries Covered

Bulgaria, Serbia, Romania

Market Players Covered

NIS (Serbia), KryoGas (Serbia), Engie SA (France), Total Energies SE (France), Chevron Corporation (U.S), Shell PLC (Germany), among others

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.

Segment Analysis:

The Serbia, Romania, and Bulgaria CNG (compressed natural gas) fuel market is segmented into eight notable segments based on product, source, kits, fuel chamber, vehicle type, CNG fuel stations offering, CNG fuel stations entity, and end user.

  • On the basis of product, the market is segmented into CNG (methane-natural gas stored under high pressure and used as transportation fuel) and BioCNG (biomethane)

In 2024, the CNG (methane-natural gas stored under high pressure and used as transportation fuel) segment is expected to dominate the Serbia, Romania, and Bulgaria CNG (compressed natural gas) fuel market

In 2024, the CNG (methane-natural gas stored under high pressure and used as transportation fuel) is expected to dominate the market with a market share of 92.81% due to rising interest in CNG fuel and environmental concerns is driving demand and innovation in the market.

  • On the basis of source, the market is segmented into associated gas and non-associated gas

In 2024, the associated gas segment is expected to dominate the Serbia, Romania, and Bulgaria CNG (compressed natural gas) fuel market

In 2024, the associated gas segment is expected to dominate the market with a market share of 89.95% due to its increased energy demand and regulatory support growth.

  • On the basis of kits, the market is segmented into sequential and venturi. In 2024, the sequential segment is expected to dominate the market with a market share of 59.63%
  • On the basis of fuel chamber, the market is segmented into dual-fuelled vehicles and dedicated (cng-fuelled) vehicles. In 2024, the dual-fuelled vehicles segment is expected to dominate the market with a market share of 85.61%
  • On the basis of vehicle type, the market is segmented into private and fleet. In 2024, the private segment is expected to dominate the market with a market share of 70.20%
  • On the basis of CNG Fuel stations offering, the market is segmented into monofuel refuelling stations (offering solely CNG) and multifuel refuelling stations (offering conventional fuels and CNG). In 2024, the monofuel refuelling stations (offering solely CNG) segment is expected to dominate the market with a market share of 51.55%
  • On the basis of CNG fuel stations entity, the market is segmented into public refuelling stations and private/internal. In 2024, the public refuelling stations segment is expected to dominate the market with a market share of 77.86%
  • On the basis of end use, the market is segmented into light motor vehicles, medium motor vehicles and heavy motor vehicles. In 2024, the light motor vehicles segment is expected to dominate the market with a market share of 63.10%

Major Players

Data Bridge Market Research analyzes NIS (Serbia), Engie SA (France), Total Energies SE (France), Chevron Corporation (U.S), Shell PLC (Germany) as the major players operating in the market.

Serbia, Romania, and Bulgaria CNG (Compressed Natural Gas) Fuel Market

Market Development

  • In September 2024, ENGIE SA highlighted its advancements in sustainable mobility during European Mobility Week, showcasing its commitment to cleaner transportation solutions. As part of these efforts, ENGIE has made significant strides in expanding its Compressed Natural Gas (CNG) infrastructure across Europe, enabling more widespread adoption of low-carbon vehicles. The company has also been pioneering the integration of biogas into its CNG offerings, further reducing emissions and promoting a circular economy approach
  • In February 2024, Shell PLC completed the acquisition of Nature Energy, a leading producer of renewable natural gas (RNG). This strategic move marks a major expansion of Shell’s capabilities in the low-carbon fuels sector, reinforcing its commitment to accelerating the energy transition. Nature Energy specializes in the production of biogas through anaerobic digestion, converting organic waste into renewable natural gas (RNG). This acquisition enhances Shell's position in the RNG market, providing a sustainable alternative to fossil fuels that can be used in transportation, industry, and heating
  • In December 2024, NIS has approved the 2024 Business Plan, allocating USD 560.58 Million for capital investments. The plan prioritizes stable operations and key projects amidst a volatile macroeconomic environment. Focus areas include maintaining oil and gas production levels, conducting a capital workover of the Pančevo Oil Refinery, and expanding the retail network. Additionally, NIS will enhance energy efficiency, reduce CO₂ emissions, and continue digitalization efforts. The plan also includes modernizing Petrohemija’s plants and constructing photovoltaic solar power plants, aligning with the company's commitment to Serbia's energy transition and carbon reduction goals
  • In June 2024, NIS received a certificate of appreciation from the Fund for Scholarships and Encouraging the Advancement of Gifted Students and Young Scientific Workers and Artists of the University of Novi Sad for its long-term support and student scholarships. The ceremony also awarded contracts to 86 new scholarship recipients and recognized other supportive institutions. NIS, a scholarship donor for 15 years, awards five scholarships annually through its “Energy of Knowledge” program. This year’s recipients include students from various faculties. The fund has awarded 1,780 scholarships since its establishment in 1992
  • In March 2023, NIS won the award for the best socially responsible campaign from "Diplomacy & Commerce" for the seventh consecutive year. The accolade recognized NIS's “Let New Hopes be Born” campaign, which supported reproductive health and in vitro fertilization, benefiting 40 health institutions across Serbia

Regional Analysis

On the basis of geography, the market is segmented into Bulgaria, Serbia, and Romania.

As per Data Bridge Market Research analysis:

Romania is expected to be the dominant and fastest growing country in the market

Romania is expected to be the dominant and fastest growing country in the market due to its more advanced infrastructure and government policies that support natural gas development. Romania's strong natural gas reserves and existing pipeline network enable efficient CNG production and distribution.

For more detailed information about the Serbia, Romania, and Bulgaria CNG (compressed natural gas) fuel market report, click here – https://www.databridgemarketresearch.com/reports/serbia-romania-and-bulgaria-cng-compressed-natural-gas-fuel-market


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