Dublin, March 11, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Bio-LNG Market: Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific bio-LNG market (excluding China) was valued at $61.8 million in 2023 and is anticipated to reach $374 million by 2032, witnessing a CAGR of 22.1% during the forecast period 2023-2032. The bio-LNG market is anticipated to expand significantly, fueled by increasing demand in sectors such as automotive and maritime. Furthermore, the automotive industry is forecasted to adopt bio-LNG more extensively, encouraged by government policies and incentives aimed at fostering its production and usage across various regions. 
Market Introduction
The Asia-Pacific (APAC) region is experiencing a notable surge in the Bio-LNG market, driven by escalating demand for cleaner fuel alternatives in sectors like automotive, maritime, and industrial applications. Government initiatives promoting renewable energy sources and environmental sustainability further bolster this growth. Investments in infrastructure for Bio-LNG production and distribution are on the rise across APAC countries, facilitating market expansion.
Moreover, technological advancements in biofuel production processes contribute to the market's momentum. With increasing concerns about carbon emissions and climate change, Bio-LNG emerges as a promising solution, offering reduced greenhouse gas emissions compared to conventional fuels. The APAC Bio-LNG market is poised for significant growth as industries and policymakers increasingly prioritize sustainable energy options to meet both economic and environmental objectives.
Market Segmentation
- Segmentation 1: by Application
- Automotive
- Ships
- Others
- Segmentation 2: by Source
- Agriculture Residues
- Industrial Waste
- Household Waste
- Others
- Segmentation 3: by Country
- Japan
- India
- South Korea
- Australia
- Rest-of-Asia-Pacific and Japan
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on thorough secondary research, which includes analyzing company coverage, product portfolio, market penetration, and insights gathered from primary experts. Some prominent names established in this market are:
- BoxLNG Pvt. Ltd.
- Air Water Inc.
Snapshot of Green Methanol Market
- Leading Countries in the Green Methanol Market
- Leading Companies in Green Methanol Market
- Green Methanol Projections
Trends: Current and Future
- Favorable Government Policies Supporting Bio-LNG Production
- Rise in Fossil Fuel-based Alternative Price
Business Dynamics
- Business Drivers
- Rising Environmental Concerns
- Increasing Number of LNG Trucks
- Business Challenges
- Limited Availability of Feedstocks
- High Price of Bio-LNG as Compared to LNG
- Business Strategies
- Product Developments
- Market Developments
- Corporate Strategies
- Mergers and Acquisitions
- Partnerships and Joint Ventures
- Business Opportunities
- Increase in Demand from Shipping Industry
- Technological Advancement
Key Attributes
| Report Attribute | Details |
| No. of Pages | 83 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $61.8 Million |
| Forecasted Market Value (USD) by 2032 | $374 Million |
| Compound Annual Growth Rate | 22.1% |
| Regions Covered | Asia-Pacific |
For more information about this report visit https://www.researchandmarkets.com/r/ygbj6j
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