Bio-LNG Market Report Scope & Overview:

The Bio-LNG Market size was valued at USD 0.627 billion in 2022 and is expected to grow to USD 13.30 billion by 2030 and grow at a CAGR of 46.5 % over the forecast period of 2023-2030.

Growing consumer interest in bio-LNG is mostly being driven by rising decarbonization demand. these fuels are becoming more popular in a number of sectors, including those that employ buses, trucks, ships, and other transportation vehicles. Trucks and ships are one industry where their deployment has become substantially more widespread, and this is projected to open up opportunities for both market incumbents and newcomers.

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When compared to traditional LPG, bio-LPG, commonly referred to as bio-liquefied petroleum gas, is more environmentally friendly. It is created from biomass, which includes energy crops, food industry waste, and agricultural waste. The bio-LNG (liquefied natural gas) industry has experienced tremendous development and changing dynamics. Bio-LNG has become a desirable alternative as there is an increasing focus on the need to reduce greenhouse gas emissions and switch to cleaner energy sources on a worldwide scale.

MARKET DYNAMICS

KEY DRIVERS:

• Growing Environmental Concerns

• Growing LNG Truck Fleet

The bio-LNG industry is expanding on a global scale. Rising vehicle sales and a greater emphasis on decarbonization and pollution control are anticipated to propel market expansion. Also, the rising environmental concerns and the growing number of ING vehicles are opening up huge growth prospects for the best solutions to supply the growing need for energy while lowering greenhouse gas emissions. Consequently, as a result of the aforementioned circumstances, its demand is rising.

RESTRAINS:

• Additional cost

•  No Technological adaptations

OPPORTUNITY: 

• Technological advancement in Bio-LNG production

• Growing consumer interest in bio-LNG

Growing consumer interest in bio-LNG is mostly being driven by rising decarbonization demand. these fuels are becoming more popular in a number of sectors, including those that employ buses, trucks, ships, and other transportation vehicles.

Bio-LNG is unique in many aspects since it emits much less particulate matter and CO2 than other types of fuel. Along with giving customers the chance to have net-zero emissions. Bio-LNG may help truck drivers and fleet management economically and ecologically by providing transportation at affordable prices without compromising efficiency.

CHALLENGES:

• Limited Feedstock Availability

• high Bio-LNG Price Compared to LNG

 The Bio-LNG is projected to expand due to the rising usage of alternative fuels for energy generation to reduce greenhouse gas emissions.

IMPACT OF RUSSIA-UKRAINE WAR

Russia's invasion of Ukraine has caused a seismic change in the world's gas and LNG markets. Spot prices are reaching record highs in both Asia and Europe, and LNG contractual activity has increased as gas consumers, particularly in Europe, look for reliable alternatives to Russian gas. Using the knowledge of our LNG service, how the Russia/Ukraine war has changed LNG contract patterns and impacted contract pricing across key LNG markets as the LNG world gets ready to converge on Gastech 2022. Due to record LNG prices, buyers have begun committing to lengthy contracts. With more than 60 mmt pa (million metric tonnes) of new long-term contracts signed in 2022, volume is already at its highest level since 2018.

IMPACT OF ONGOING RECESSION

According to preliminary estimates, CO emissions in the European Union decreased by around 6%, and a similar decrease is anticipated. As long as greenhouse gases are released into the atmosphere, they will continue to have a positive impact on the ecosystem. The rapid reduction in emissions increase is especially welcome because any new global climate change deal that will be agreed in Copenhagen will not go into effect until after some years. The recession is stopping certain investment choices that may have otherwise long-term locked-in carbon-intensive technology.

KEY MARKET SEGMENTATION

By Source Type

• Organic Household Waste

• Organic Industrial Waste

• Municipal Waste

By Application

• Transportation Fuel

  • Heavy-duty vehicles

  • Shipping

• Power Generation

• Others

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REGIONAL ANALYSIS

In 2022, Europe had the highest revenue share (59.50%). Due to the increased product demand from the transportation and power generation application sectors, countries like Germany, the UK, Spain, and France are anticipated to have strong growth rates in the industry over the course of the projection period.

In 2022, North America accounted for a sizeable portion of global revenue, with the U.S. The expansion of the North American market for bio-LNG is anticipated to be driven by the boom in the use of alternative fuels for energy generation to minimize greenhouse gas emissions.

REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

RECENT DEVELOPMENTS

• In Wijster, Netherlands, GREEN CREATE constructed manure-fed biomethane production facilities in February 2023. The facility creates bio-LNG, a low-carbon fuel that may be utilized as a low-carbon fuel in the transportation sector, from agricultural waste, notably manure.

• As it expands its network of bio-ING providers, Liqvis declared in February 2023 that heavy-duty transport will switch to bio-LNG beginning in 2023. Starting in the middle of 2023, Liqvis would progressively switch to CO2-neutral bio-LNG and offer it for sale at its refueling stations.

• In April 2023, Nottingham-based Roadgas, the largest owner of bio-CNG and bio-ING facilities in the UK, will transfer its assets to Pretoria Energy Group, a company backed by Mercuria Clean Energy Investments. Roadgas offers specialized on-site fueling choices.   

KEY PLAYERS 

The Major Players are Linde plc, Nordsol, Flogas Britain Ltd., MEGA a.s., AXEGAZ T&T, TotalEnergies, Titan LNG, DBG Group B.V., BoxLNG Pvt. Ltd., Shell Pie and other players are listed in a final report.

Flogas Britain Ltd-Company Financial Analysis