Bio-LNG Market Investments are Rapidly Increasing and Excepted to Grow at a CAGR of 18.20% to 2031 | Exclusive InsightAce Study
07.04.2023 By TankTerminals.com News - NEWS

July 4, 2023 [Globe Newswire]- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Bio-LNG Market Size, Share & Trends Analysis Report By Application (Automotive, Ships, And Others), Source (Agriculture Residues, Industrial Waste, Household Waste, And Others), Region, Market Outlook And Industry Analysis 2031”

 

The global Bio-LNG Market is estimated to reach over USD 2949.95 million by 2031, exhibiting a CAGR of 18.20% during the forecast period.

Bio-LPG is an environmentally friendly alternative to traditional liquefied petroleum gas (LPG).Bio-LPG has numerous applications, including cooking, heating, transportation, and industrial activities. It can be used in existing LPG infrastructure and appliances without requiring significant changes. The construction of a stable and long-term supply chain is critical for the bio-LNG market. This includes feedstock supply, transportation infrastructure, and LNG terminals that are prepared for bio-LNG storage and distribution. To support the growing bio-LNG market, investments in supply chain infrastructure are being made.

 

Several parties, including energy firms, technology suppliers, and agricultural organizations, are working together to speed bio-LNG research and acceptance. Partnerships are being formed in order to harness expertise, exchange resources, and facilitate knowledge transfer, resulting in market growth. Countries with substantial biomass resources and advanced LNG infrastructure are researching bio-LNG export prospects. International collaboration and trade agreements are anticipated to shape the bio-LNG market’s future dynamics.

Recent Developments:

  • In November 2022, Nordsol, Attero, and Titan collaborated on the FirstBio2Shipping project to produce bio-liquefied natural gas (bio-LNG) to assist sustainable maritime transportation. To achieve decentralized fuel generation, the partners have made a final investment conclusion to build a plant at the waste processor Attero’s facility in Wilp, the Netherlands. The project will generate around 2,400tpa of bio-LNG or liquefied biomethane, with the first delivery planned in early 2024.

List of Prominent Players in the Bio-LNG Market:

  • SAS Cryo Pur
  • Bright Renewables B.V.
  • Blue Sea Power SA
  • Gasrec
  • TotalEnergies SE
  • Linde plc
  • MAKEEN Energy
  • Nordsol
  • BoxLNG Pvt. Ltd
  • Flogas Britain Limited
  • DBG Group B.V.
  • Gasum Ltd
  • RUHE Biogas Service GmbH
  • LIQVIS GmbH
  • Andion Global Inc.
  • Cycle0
  • Titan LNG
  • Alexela
  • EnviTec Biogas AG
  • Scandinavian Biogas Fuels International AB
  • Scale Gas Solutions
  • GREEN CREATE
  • Biomet SpA
  • Air Water Inc.

Drivers:

Bio-LNG is gaining popularity as a low-carbon transportation fuel, especially in the shipping, heavy-duty vehicle, and aviation sectors. The transportation industry is facing increasing pressure to decarbonize, and bio-LNG provides a feasible alternative by decreasing carbon emissions significantly when compared to regular LNG or diesel. This feature is anticipated to propel the market. Various individuals, including energy firms, technology providers, and agricultural organizations, are working together to speed the development and deployment of bio-LNG.

Challenges:

A significant difficulty for the bio-LNG sector is the availability of sustainable and stable feedstock. Organic waste, agricultural residues, and energy crops must be sourced in adequate amounts without jeopardizing food security or creating deforestation. The long-term feasibility of bio-LNG production depends on ensuring an environmentally friendly and diverse feedstock supply chain. These elements are likely to start challenges for the market. Moreover, building the infrastructure required for bio-LNG production, storage, and distribution is an enormous challenge.

Regional Trends:

The North America Bio-LNG Market is expected to register a major market share in terms of revenue and is projected to raise at a high CAGR in the near future. European governments have established aggressive renewable energy objectives and supportive policies to minimize greenhouse gas emissions and stimulate the use of renewable energy sources. Policies like the Renewable Energy Directive and the European Green Deal foster a favorable market environment for bio-LNG by providing incentives and regulations that promote demand and supply.

Furthermore, North American countries such as the United States and Canada have developed renewable energy laws and targets in order to minimize greenhouse gas emissions and encourage clean energy sources. These policies are increasing the demand for bio-LNG as a renewable, low-carbon fuel source.

 

 

Segmentation of Bio-LNG Market-

By Application-

  • Automotive
    • Trucks
    • Buses
    • Others
  • Ships
  • Others

By Source-

  • Agriculture Residues
  • Industrial Waste
  • Household Waste
  • Others

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

 

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