Bio-LNG Market 2030 By Source (Agriculture Residues, Industrial Waste, Household Waste, Municipal Waste and Others), Application (Transportation Fuel {Heavy-duty Vehicles and Shipping}, Power Generation and Others) and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Energy & Power | Pages : 194 Pages | Published On : Feb 2024

Bio-LNG Market was valued USD 1.4 Billion in 2023 and projected to reach USD 9.8 Billion by 2030, growing at a CAGR of 32.0% during the forecast period of 2023-2030.

Major Vendors In The Global Bio-LNG Market: Linde plc, Nordsol, Flogas Britain Ltd., MEGA a.s., AXEGAZ T&T, TotalEnergies, Titan LNG, DBG Group B.V., BoxLNG Pvt. Ltd., Shell Plc, EnviTec Biogas AG and Others.

Market Overview

Bio-LNG demand is anticipated to surge due to rising needs in industries like automotive and maritime. The period from 2023 to 2032 is expected to witness a significant growth in bio-LNG adoption within the automotive sector, spurred on by governmental policies and incentives. Various regions are likely to see governments implementing measures to boost bio-LNG production and utilization. The European Union, for example, is actively pursuing targets to increase renewable energy use in transportation, and initiatives like the Alternative Fuels Infrastructure Directive have been introduced to facilitate the development of bio-LNG infrastructure. Despite these positive trends, the comparatively high cost of bio-LNG in comparison to traditional LNG is projected to pose a challenge to market growth in the coming years.

Growing demand for decarbonization

The demand for bio-LNG is on the rise, driven by the global movement towards decarbonization. As awareness of the environmental impact of traditional fuels grows, there is a heightened focus on shifting to cleaner and more sustainable energy alternatives. Bio-LNG, sourced from organic and renewable materials, is gaining prominence in various sectors, especially in automotive and maritime industries. Governmental initiatives and policies worldwide are contributing to this surge in demand, providing incentives for the widespread adoption of bio-LNG to minimize carbon footprints. As industries increasingly prioritize strategies for decarbonization, the bio-LNG market is positioned to play a pivotal role in meeting the increasing need for energy solutions that are both cleaner and environmentally friendly.

Market Dynamics

Drivers:

  • Environmental concerns and the need for sustainable transportation fuels
  • Growing demand from transportation and industrial sectors
  • Diversification of energy mix and energy security

Opportunities:

  • Development of advanced bio-LNG production technologies
  • Integration with renewable energy sources

Expansion into new end-use applications

The global bio-LNG market is witnessing a notable expansion into new end-use applications as industries explore diverse avenues for sustainable energy solutions. This shift is driven by a growing recognition of the environmental benefits and versatility of bio-LNG. Traditionally associated with sectors like automotive and maritime, bio-LNG is now finding its way into a broader range of applications. Industries are exploring innovative uses in areas such as power generation, industrial processes, and residential heating. This diversification is not only expanding the market reach of bio-LNG but also contributing to a more comprehensive integration of sustainable practices across various sectors. As the market continues to evolve, the exploration of new end-use applications is shaping bio-LNG into a multifaceted solution for reducing carbon footprints across diverse industries.

The market for Bio-LNG is dominated by Europe.

In 2022, the European region secured the highest market share for bio-LNG, and projections indicate a continued growth at an elevated Compound Annual Growth Rate (CAGR). Bio-LNG is viewed as a promising addition to the region's renewable energy portfolio, with ongoing initiatives and investments directed at bio-LNG production facilities that leverage organic waste and biomass as primary feedstock. Concurrent efforts are underway to develop the necessary infrastructure for bio-LNG, facilitating its integration into transportation and industrial applications. The Italian government is actively providing support through various incentives and programs to promote the widespread adoption of bio-LNG and other renewable energy sources. Spain, likewise, is making significant strides in its renewable energy sector, with bio-LNG identified as a viable solution for emission reduction in both transportation and industrial domains. Numerous projects are in progress to produce bio-LNG from organic waste and biomass. The European Union's policies and initiatives play a pivotal role in fostering the use of bio-LNG across its member states, aligning with the region's ambitious climate and energy targets to mitigate greenhouse gas emissions and promote sustainability through the adoption of renewable energy sources like bio-LNG.

The Transportation Fuel Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

Based on application, the market is segmented into Transportation Fuel (Heavy-duty Vehicles and Shipping), Power Generation and Others. In 2022, the transportation fuel segment emerged as the leader in the bio-LNG market, contributing significantly to overall revenue. The demand for bio-LNG has been steadily increasing in both the transportation fuel and power generation sectors, primarily due to its lower environmental impact compared to conventional fuels. Bio-LNG serves as a low-carbon alternative, emitting substantially fewer greenhouse gases (GHGs) than diesel or gasoline. With the potential to reduce GHG emissions by up to 90% compared to diesel, it is an appealing choice for companies and governments aiming to diminish their carbon footprint. Although bio-LNG may exhibit a higher cost than diesel in certain cases, this cost disparity is narrowing as production scales up and technology advances. Consequently, bio-LNG is gaining competitiveness with traditional fuels, particularly in regions where incentives or regulations promote the use of low-carbon alternatives. Its compatibility with existing natural gas pipelines and infrastructure facilitates easy distribution and utilization, and some companies are making investments in dedicated bio-LNG production and distribution infrastructure to further encourage its adoption.

Global Bio-LNG Market Report Scope:

Report

Details

Market size value in 2023

USD 1.4 Billion

Market size value in 2030

USD 9.8 Billion

CAGR (2023-2030)

32.0%

Forecast Period

2023–2030

Historic Data

2019

Forecast Units

Value (USD Million/USD Billion)

Segments Covered

Source, Application and Region

Geographies Covered

North America, Europe, Asia Pacific, and RoW

Major Segmentations Are Distributed as follows:

  • By Source
    • Agriculture Residues
    • Industrial Waste
    • Household Waste
    • Municipal Waste
    • Others
  • By Application
    • Transportation Fuel
      • Heavy-duty Vehicles
      • Shipping
    • Power Generation
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • U.K.
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of MEA

Recent Developments

  • In April 2023, Nottingham-based Roadgas, the largest owner of bio-CNG and bio-LNG plants in the U.K., has recently shifted its assets to Pretoria Energy Group, financially backed by Mercuria Clean Energy Investments. Roadgas specializes in tailored on-site fuelling solutions utilizing locally produced biomethane. With ambitious goals, the company aims to fuel over 2,500 gas-powered trucks annually within the next five years.
  • In February 2023, In Wijster, Netherlands, GREEN CREATE has constructed biomethane production facilities fueled by manure. These plants generate renewable natural gas (RNG) using agricultural waste, particularly manure. The produced RNG can be upgraded to bio-LNG, offering a low-carbon fuel option for use in the transportation sector.

Answers to Following Key Questions:

  • What will be the Bio-LNG Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Bio-LNG Market?
  • What are the main forces behind worldwide Bio-LNG Market? Which companies dominate Bio-LNG Market?
  • Which companies dominate Bio-LNG Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Insight Engines industry's suppliers' opportunities and dangers in Bio-LNG Market?
  • What is the Insight Engines industry's regional sales, income, and pricing analysis? In the Bio-LNG Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Bio-LNG Market?
  • What are the main geographical areas for various industries that are anticipated to observe astounding expansion for Bio-LNG Market?
  • What are the dominant revenue-generating regions for Bio-LNG Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Bio-LNG Market trends that are influencing the market's expansion?
  • Which key product categories dominate Bio-LNG Market? What is Bio-LNG Market’s main applications?
  • In the coming years, which Bio-LNG Market technology will dominate the market?

Reason to purchase this Bio-LNG Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Bio-LNG Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different Bio-LNG Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Bio-LNG Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Bio-LNG Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Bio-LNG Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

TOC

Table and Figures

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In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

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Leading Market Players

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Market Size and Growth Rate

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