The use of compressed natural gas (CNG) in road transportation is well established and even make up more than 20% of the total light-duty vehicle fleet in countries like Pakistan and Iran. Growth in medium-duty and heavy-duty natural gas vehicles continues in the U.S. and China, as well. Liquefied natural gas (LNG) is also witnessing increasing popularity as a fuel source not only for road transportation, but also for the marine sector. With natural gas potentially playing a critical role in the global energy transition, we investigated the recent innovation activity in the CNG and LNG space. We found in recent years the automotive industry has ran away with the lead in CNG innovation while LNG innovation remains an active space with several players vying to hold a key position along the value chain.
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