PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326589
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326589
Global Bio-LNG Market is valued at approximately USD 0.625 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 46.4% over the forecast period 2023-2030. Bio-LNG, short for bio-liquefied natural gas, refers to liquefied natural gas that is produced from organic waste or biomass sources through a process called bio methanation. Bio-LNG is considered a renewable energy source and a low-carbon alternative to traditional LNG. The increase in product demand from the power-generating application sectors and an increase in the use of alternative fuels for energy generation are both efforts to reduce greenhouse gas emissions that is driving the market demand across the globe
In addition, the transportation industry is another factor driving the growth of the bio-LNG market. Bio-LNG is gaining popularity as a diesel and petrol substitute as more businesses seek to lower their carbon footprints. Numerous transportation applications, such as those for heavy-duty vehicles, buses, and ships, can use it. According to the World Bank, in 2023, 20% of the world's GHG emissions are already caused by domestic and international transportation. If transportation-related GHG emissions are not reined in, they might rise by as much as 60% by 2050 as populations, economies, and the need for mobility rise. Certain businesses are investing in specialized bio-LNG production and delivery infrastructure to further encourage its adoption. Due to several important variables, various government initiatives regarding the adoption of Bio-LNG are acting as a opportunistic factor for the market of bio-LNG. However, in some circumstances, Bio-LNG may be more expensive than diesel and other fuels which stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Bio-LNG Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 Due to the increased product demand from the transportation and power generation application sectors, countries such as Germany, the UK, Spain, and France are anticipated to experience strong growth rates in the industry over the projection period. North America is expected to grow significantly during the forecast period, owing to factors such as a boom in the use of alternative fuels for energy generation to minimize greenhouse gas emissions.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable