The global bio-LNG market revenue was around US$ 0.7 billion in 2022 and is estimated to reach US$ 3.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 17.9% during the forecast period from 2023 to 2032.
Bio-liquified natural gas (bio-LNG) is a renewable condition of liquified natural gas (LNG). It is made from organic waste acquired from industrial procedures, agriculture, sewage sludge, households, and animal manures. The organic waste is called biomass feedstock which is gathered at a processing plant and then subjected to anaerobic digestion. Under anaerobic digestion, organic feedstock is broken down by microorganisms in the absence of oxygen.
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Factors Influencing Market Growth
– The bio-LNG is transported via existing infrastructure through tanker trucks to distribution centers and end users, such benefits of bio-LNG propel the growth of the bio-LNG market.
– The lack of infrastructure for further processing of the waste also particularly influences the growth of the bio-LNG market.
– The energy spent in the production cycle might approach or even surpass the energy content of the final bio-LNG product. Therefore, high investment costs serve as a challenge for the growth of the bio-LNG market.
In 2022, Europe dominated the global bio-LNG market in terms of revenue and is anticipated to grow at a higher growth rate during the forecast period. This is attributed to the fact that bio-LNG is seen as a favorable alternative to complement the renewable energy mix of the region. There are ongoing investments and initiatives in bio-LNG production facilities that use biomass and organic waste as feedstock. Efforts are underway to create bio-LNG production infrastructure and facilities, allowing its usage in industrial and transportation applications.
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Also, the Italy government is delivering aid via different programs and incentives to promote the adoption of bio-LNG and other renewable energy sources. Spain is actively growing its renewable energy sector, and bio-LNG is considered to be a likely alternative for decreasing emissions in the industrial and transportation sectors. Several projects are underway to make bio-LNG from biomass and organic waste. European Union initiatives and policies also play a vital role in promoting the usage of bio-LNG across member states. The region witnesses many ambitions on energy and climate targets to decrease greenhouse gas emissions and encourage sustainability, which promotes the adoption of renewable energy sources like bio-LNG.
The leading prominent companies profiled in the global bio-LNG market are: –
– Linde plc
– Flogas Britain Ltd.
– EnviTec Biogas AG
– Biokraft International AB
– Total Energies SE
– Titan LNG
– DBG Group B.V.
– BoxLNG Pvt. Ltd.
– Shell Plc.
– Other prominent key players
The global bio-LNG market segmentation focuses on Source, Application, and Region.
Segmentation based on Source
– Agriculture Residues
– Industrial Waste
– Household Waste
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Segmentation based on Application
– Power Generation
Segmentation based on Region
– North America
– The U.S.
– Rest of Europe
– South Korea
– Rest Of Asia-Pacific
– Latin America
– Middle East
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
Key Questions Market Research and Analysis Report
What is the current market size, both in terms of value and volume?
What is the historical growth rate of the market, and what are the projected growth rates for the future?
Who are the major players in the market, and what is their market share?
What are the market trends and dynamics influencing the industry?
What are the key drivers of market growth?
What are the challenges and barriers faced by market participants?
What are the emerging opportunities in the market?
What is the competitive landscape of the market?
What are the consumer preferences, behaviors, and buying patterns within the market?
What is the market segmentation, and how are different market segments performing?
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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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