MegaResearch agency presented market prospects at the gas cylinder equipment conference GazSuf 2019
On October 22-24, 2019, Moscow hosted the international exhibition of gas-cylinder, gas-fueling equipment and equipment on gas-engine fuel GazSuf 2019. Maria Leontieva, Director of the Analytics Department of our agency, spoke at the strategic session dedicated to the conversion of transport to gas cylinder equipment and promising solutions for controlling the turnover of gas cylinders.
In the report devoted to the analysis of the market of high-pressure cylinders for CNG, special attention was paid to the review of the regulatory framework of the industry and state support programs, which were finally adopted only this year. The financing provided under the program to stimulate the transition of vehicles of all categories to gas-powered fuel will give a powerful impetus to the development of the high-pressure cylinder market. According to the forecast of our analysts, by the end of this year, its volume will grow by more than 50%, and by 2023 it will exceed the current figures by 4 times.
Safety and certification issues are very important for the gas cylinder equipment market. Excessive restrictions still apply in this area, which hinder the development of the gas filling network and complicate the process of registering and operating vehicles converted to gas. At the same time, MegaResearch analysts note that administrative barriers, although slowly, are being removed. It is pleasant that the conference was attended by responsible heads of regulatory and supervisory bodies, who responded positively to the problems raised in the report and even said that some of them have already been practically solved.
MegaResearch agency specializes in the study of complex industrial markets, where supply and demand are regulated not only by the economic situation, but also by government incentives, as well as established stereotypes and consumer beliefs. For gas-cylinder equipment, for example, these are concerns of owners of private vehicles regarding the safety of methane as a fuel and in terms of maintenance of the installed gas supply system, and regarding its impact on the engine life. We conduct a series of in-depth interviews with market participants and experts who help identify such factors, develop recommendations for working with them and confirm the conclusions obtained through desk research, both for the industry as a whole and for its most problematic segments. Please contact us if you need a market analysis made by professional business analysts specifically to solve the problems you face.