Dublin, Dec. 21, 2023 (GLOBE NEWSWIRE) -- The "Global Bio-LNG Market Size, Share & Trends Analysis Report by Application (Transportation Fuel, Power Generation), Source Type (Organic Household Waste, Municipal Waste), Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global bio-LNG market size is expected to reach USD 19.78 billion by 2030, registering a CAGR of 41.1% from 2023 to 2030. As concerns about climate change and air pollution continue to mount, there is a growing demand for clean and sustainable energy sources. Bio-LNG is considered a low-carbon fuel that can reduce greenhouse gas emissions by up to 90% compared to traditional fossil fuels. This has increased interest in the adoption of Bio-LNG.
The transportation fuel segment is expected to witness substantial growth over the next few years, due to the growing demand from the shipping industry. Shipping companies around the world are looking for alternative fuels to reduce their greenhouse gas emissions and are investing in technologies such as Bio-LNG fueled vessels. This is expected to advance the market during the forecast period.
Organic household waste is one of the significant sources of feedstock for the production of bio-LNG. Organic household waste includes food waste, yard waste, and other biodegradable materials. This waste is rich in organic content and can be efficiently converted into renewable energy sources such as biogas and subsequently upgraded to bio-LNG.
The demand for bio-LNG in the power generation segment is expected to grow substantially from 2023 to 2030. Bio-LNG can be used in existing natural gas infrastructure, making it a flexible fuel source that can be utilized in a variety of applications. It can be used in power plants to generate electricity at a lower cost, as it does not incur infrastructure development costs.
Asia Pacific has been witnessing significant growth in product demand, on account of the increasing number of production facilities, as well as R&D centers in major countries like China, Australia, Japan, India, and South Korea. The inception of new facilities and the expansion of existing Bio-LNG facilities owing to favorable government policies and foreign direct investments are likely to cater to the growth of the demand for Bio-LNG in the region.
Bio-LNG Market Report Highlights
- In terms of revenue, organic household waste segment led the market for bio-LNG in 2023, accounting for a share of 40.40%. Growth of this segment can be attributed to incentives and tax rebates offered by governments of different countries to promote adoption of renewable energy and conversion of organic waste to energy.
- In terms of revenue, the transportation fuel segment led bio-LNG market in 2023, accounting for a revenue share of 55.55%. Demand for bio-LNG has been growing in transportation fuel and power generation segments, owing to low pollution caused by fuel.
- Europe accounted for largest regional revenue share of 61.41% in 2023. Countries such as Germany, UK, Spain, and France are expected to witness high growth rates in industry, owing to rising product demand from transportation and power generation application sectors, boosting market growth during forecast period.
- Asia Pacific is expected to witness a significant CAGR over the forecast period, owing to presence of large emerging countries such as China and India.
Market Dynamics
Market drivers
- Increased use of bio-LNG in heavy-duty vehicles
- Presence of favorable government policies
Market restraints
- High production costs of bio-LNG
Companies Profiled
- Linde
- Nordsol
- Flogas Britain
- MEGA
- AXEGAZ T&T
- TotalEnergies
- Titan LNG
- DBG Group
- BoxLNG
- Shell
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.37 Billion |
| Forecasted Market Value (USD) by 2030 | $19.78 Billion |
| Compound Annual Growth Rate | 41.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Bio-LNG Market: Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Regulatory Framework
3.3.1. Regulations, Policies, and initiatives by major countries
3.3.2. Incentive schemes by major countries
3.4. Market Dynamics
3.5. Business Environment Analysis: Bio-LNG Market
3.6. Summary of European Union (EU) Carbon Footprint on Bio-LNG Market
3.7. Market Dynamics
3.8. East European Geopolitical Implications on Bio-LNG Market
3.9. Impact of COVID-19 on Bio-LNG Market
3.10. Average Global Price Trends Analysis of Bio-LNG, 2018 - 2030
Chapter 4. Bio-LNG Market: Source Type Estimates & Trend Analysis
4.1. Source Type Movement Analysis & Market Share, 2023 & 2030
4.2. Bio-LNG Market Estimates & Forecasts, by Source Type (Tons) (USD Million)
4.2.1. Organic household waste source
4.2.2. Organic industrial waste
4.2.3. Municipal waste
Chapter 5. Bio-LNG Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2023 & 2030
5.2. Bio-LNG Market Estimates & Forecasts, by Application (Tons) (USD Million)
5.2.1. Transportation fuel
5.2.2. Power generation
Chapter 6. Bio-LNG Market: Regional Estimates & Trend Analysis
Chapter 7. Bio-LNG Market: Competitive Landscape
7.1. Recent Developments & Their Impact Analysis, By Key Market Participants
7.2. Company Categorization
7.3. Participant's Overview
7.4. Financial Performance
7.5. Product Benchmarking
7.6. Company Market Positioning
7.7. Company Heat Map Analysis
7.8. List of Potential Customers by Country
7.9. Company Market Share Analysis, 2023
7.10. Strategy Mapping
7.11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/sr2ne9
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