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Bio-LNG is a renewable fuel produced from biogas and organic waste materials, such as agricultural waste, food waste, and sewage sludge. The biogas produced from anaerobic digestion is then upgraded to remove carbon dioxide and other impurities, resulting in bio-LNG.
BIS Research, a leading market research firm, has released a groundbreaking report titled Bio-LNG Market, which discusses the challenges, growth factors, and future opportunities driving the remarkable growth of the bio-LNG market, with a forecasted CAGR of 20.3% during the forecast period (2023-2032). The detailed study is a compilation of 107 market data tables and 20 figures spread across 202 pages.
The global bio-LNG market is currently experiencing growth. This growth is being driven by higher vehicle sales, a growing emphasis on decarbonization, and efforts to curb pollution. Additionally, the increasing adoption of LNG trucks and growing environmental awareness are creating substantial opportunities for bio-LNG.
According to the report, the bio-LNG market was valued at $618.4 Million in 2022 and is anticipated to reach $3,607.2 million by 2032, witnessing a CAGR of 20.3% during the forecast period 2023-2032.
Bio-LNG currently exerts a moderate to significant influence on end-user sectors. Nevertheless, as the production of vehicles, ships, and various other applications rises in the near future, it is expected that its impact will escalate.
The global bio-LNG market has been categorized based on various applications. In 2022, the automotive sector constituted approximately 66% of the market, while ships represented around 29%, and other end-use industries made up about 5% of the total demand in terms of value.
The increasing desire for decarbonization is the primary catalyst behind the rising consumer enthusiasm for bio-LNG. Consequently, these fuels are gaining traction across various sectors, including buses, trucks, ships, and more. Notably, the implementation of these fuels has been particularly substantial in the truck and ship sectors, presenting opportunities for both established players and newcomers in the market.
Market Segments:
Application: Automotives, Ships, Others
Source: Agriculture Residues, Industrial Waste, Household Waste, Others
Region: North America, Europe, China, U.K., Asia-Pacific and Japan, and Rest-of-the-World
The Bio-LNG Market Report provides a credible global and regional market analysis and forecast for 2023-2032. The report profiles existing and upcoming products, types, applications, end users, and key players in the market.
BIS Research follows an effective market intelligence methodology comprising a crucial 15-step process. Data is captured from reliable and intelligent sources such as expert interviews, patents, web analytics, scholarly articles, scientific publications, and research and development literature.
BIS follows the Deep Tech M-A-P approach, which includes market, application, and product within syndicated and custom research projects.
M- The Market section covers industry overview, business dynamics, competitive benchmarks, and company profiles. It provides insights to enter, expand, or exit markets globally, regionally, or locally.
A- The Application section dives deep into product analyses, technology insights, use cases, and user types. This data is backed by precise market estimates and forecasts.
P- The Product section covers products, parts, technologies, and materials. Companies looking to drive an innovative agenda need information about product definitions, demand analysis, technology benchmarking and roadmaps, patents, as well as pricing analysis.
Bio-LNG has experienced recent growth owing to the increasing focus on eco-friendly fuels. It stands out due to its lower CO2 emissions compared to diesel and considerably reduced particulate matter emissions. Its potential for promoting smoother engine operation and reducing nitrogen oxide (NO2) emissions is expected to drive rapid market expansion in the forecast period.
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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