The global bio-LNG market is anticipated to grow at a CAGR of 11.1% during the forecast period (2023-2030). The increasing market for bio-LNG is also being driven by the transportation sector. As more companies look to reduce their carbon emissions, bio-LNG is becoming an attractive alternative to diesel and gasoline. It can be used in a variety of transportation applications, including heavy-duty trucks, buses, and even ships. Several major shipping companies have already started using bio-LNG as fuel for their vessels, further driving the demand for bio-LNG. According to the European Commission, in October 2023, the production of bio-LNG for transport is growing rapidly in the EU with 15 plants in 2021 and 1.24 TWh/year capacity (0.12 bcm/year). The potential capacity by 2025 could reach 12.4 TWh/year in 104 plants.
Browse the full report description of “Bio-LNG Market Size, Share & Trends Analysis Report by Source Type (Organic Household Waste, Organic Industrial Waste, Municipal Waste and Agriculture Residues), and by Application (Transportation Fuel, Power Generation and Others), Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/bio-lng-market
With the growing recognition of climate change and the imperative to decrease greenhouse gas emissions, industries are facing mounting pressure to embrace cleaner and more sustainable energy sources. Bio-LNG emerges as a solution that effectively reduces the carbon footprint and presents an environmentally friendly alternative when compared to traditional LNG.
Biogas is a great complement to electric transports, helping hauliers with their sustainability ambitions and aims towards climate-neutral transports For instance, in February 2023, Volvo Trucks launched its trucks that can run on liquified biogas, often called bio-LNG, which is a renewable fuel that can be produced from many types of organic waste, including food scraps. The fuel can reduce CO2 emissions by up to 100.0%.
Each stage provide the opportunity to bring together industry leaders and end-users involved in the bio-LNG value chain – from production to distribution and utilization – for discussions on the use of this biofuel to profitably decarbonize road freight transport. For instance, in September 2023, IVECO and Shell launched a European bio-LNG tour. A 10-day long-haul journey across Europe on board an IVECO S-Way truck powered by bio-LNG. The tour started at the Mittenwalde Shell station in Berlin and stopped at five landmarks of the bio-LNG ecosystem on the route that will touch Germany, the Netherlands and Italy.
Various market player has developed skills along the entire value chain of biomethane production from organic and agricultural waste, purification, liquefaction, storage, transport and distribution. For instance, in November 2020, Air Liquide launched biomethane activity in Italy with two new production units. These two units were built in Truccazzano (Milan) and Fontanella (Bergamo) in Italy, recycling organic material from agricultural and livestock activities to convert it into biomethane, a renewable energy source. From a circular economy perspective, the two units also be complemented by one filling station for the supply of bio-liquified Natural Gas (bio-LNG) and bio-compressed Natural Gas (bio-CNG) to local transport companies.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Source Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes EnviTec Biogas AG, Iveco S.p.A., Linde plc, Shell Plc, TotalEnergies, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Bio-LNG Market Report Segment
By Source Type
By Application
Global Bio-LNG Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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