With the emergence and long-term Impact of COVID-19, Global Bio-LNG Market to reach USD 13.18 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Bio-LNG Market points towards a potential rise to USD 13.18 Billion by 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.
Geographically, the global Bio-LNG market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). 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 global Bio-LNG market is highly competitive owing to the presence of several key manufacturers such as Linde plc, Nordsol, Flogas Britain Ltd, MEGA a.s., AXEGAZ T&T, TotalEnergies, Titan LNG, DBG Group B.V., BoxLNG Pvt. Ltd, Shell Plc and others.
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Key findings of the study suggest:
- Global Bio-LNG Market is anticipated to grow with a healthy growth rate of more than 46.4% over the forecast period 2023-2030.
- In the Source type segment, Organic Household Waste emerged out as the leading market segment in 2022.
- Europe is anticipated to drive regional growth owing to rising product demand from the transportation and power generation application sectors in the region.
- North America is also expected to grow at higher rate during 2023-2030 owing to surging in the usage of alternative fuels for energy generation to reduce greenhouse gas emissions in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Application:
- Transportation Fuel
- Power Generation
- Others
By Source Type:
- Organic Household Waste
- Organic Industrial Waste
- Municipal Waste
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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