Bio-LNG Market– Statistics And Analysis & Forecast To 2030

Posted by Mrudula Anil Karmarkar on June 23rd, 2023

San Francisco, 23 June 2023: The Report Bio-LNG Market Size, Share & Trends Analysis Report By Application (Transportation Fuel, Power Generation, Others), By Source Type (Organic Household Waste, Organic Industrial Waste, Municipal Waste), By Region, And Segment Forecasts, 2023 - 2030

The global bio-LNG market size is expected to reach USD 19.78 billion by 2030, registering a CAGR of 46.4% over the forecast period, according to a new report by Grand View Research, Inc. 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.

Access Research Report of Bio-LNG Market @https://www.grandviewresearch.com/industry-analysis/bio-lng-market-report

As more organic waste streams become available, such as agricultural and forestry residues and food waste, there is an increasing supply of feedstock for bio-LNG production. This has helped to drive down the cost of production and increase the viability of bio-LNG as a fuel source. The U.S. emerged as the largest market in North America in 2022. The U.S. government has implemented several programs to encourage the production and use of renewable fuels, including bio-LNG. For example, the Renewable Fuel Standard (RFS) requires a certain quantity of renewable fuels to be blended into transportation fuels each year. Similarly, several states have implemented their own renewable fuel standards or incentives, further driving demand for bio-LNG.

Bio-LNG Market Report Highlights

• In 2022, the transportation fuel segment was the largest in terms of revenue and accounted for a 54.95% share of the market. Growing demand for alternative fuels for long-haul transportation is expected to boost the market demand for bio-LNG
• In 2022, the organic household waste source segment accounted for the largest revenue share of 40.23% of the market. Government incentives and policies promoting renewable energy and waste management play a crucial role in driving the demand for bio-LNG sourced from organic household waste
• Germany emerged as the largest market in Europe in 2022, owing to the presence of large bio-LNG production facilities in the country. For instance, Agrarvereinigung eG Darchau and Ruhe Biogas launched a new compact bio-LNG plant in August 2022. The bio-LNG plant in Darchau, Lower Saxony, will liquefy biogas made from liquid manure and dung from the region and supply it to heavy-duty transport and will have a capacity of 3 tons per day
• Europe accounted for the largest market revenue share in 2022, with Germany being the largest contributor to the regional market growth. Collaboration between companies in the bio-LNG value chain, such as waste management companies, biogas producers, and LNG suppliers, has helped drive the growth of the regional market

Bio-LNG Market Report Scope

List of Key Players in the 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