Dublin, July 16, 2024 (GLOBE NEWSWIRE) -- The "Synthetic Natural Gas Market - A Global and Regional Analysis: Focus on Application, Technology, and Region - Analysis and Forecast, 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The synthetic natural gas (SNG) market has emerged as a promising alternative to conventional natural gas, particularly in regions lacking access to conventional gas reserves or seeking to reduce carbon emissions. SNG, produced through gasification or methanation of various feedstocks such as coal, biomass, or municipal waste, offers a versatile solution for energy needs, driving its adoption across industries worldwide. In an optimistic scenario, the market, valued at $24.86 billion in 2024, is anticipated to grow at a CAGR of 19.78%, reaching $151.09 billion by 2034. 
Rising environmental concerns coupled with stringent regulations to curb greenhouse gas emissions are propelling the demand for synthetic natural gas. Additionally, the increasing focus on energy security, coupled with advancements in gas-to-liquid technologies, is fostering market growth. Furthermore, the integration of renewable sources in SNG production processes, along with the deployment of carbon capture and storage (CCS) techniques, is anticipated to drive market expansion in the coming years.
Despite its potential, the synthetic natural gas market faces challenges related to high initial investment costs, technological complexities, and infrastructural limitations. However, these challenges also present opportunities for innovation and collaboration across the value chain. Moreover, the market's evolution towards decentralized production facilities and the development of small-scale modular plants offer avenues for market players to capitalize on niche segments and untapped markets.
North America, led by the U.S. and Canada, dominates the synthetic natural gas market, owing to extensive shale gas reserves and favorable regulatory frameworks. Additionally, technological advancements in gas-to-liquid processes and carbon capture technologies enhance North America's competitiveness in SNG production. Moreover, the region's robust industrial base and high demand for clean energy alternatives drive the adoption of SNG across various sectors, cementing its position as a key player in the global market. The U.S. has emerged as a leading hub for the synthetic natural gas (SNG) market due to its vast shale gas reserves, which serve as a primary feedstock for SNG production. The country's well-developed infrastructure, advanced technologies, and favorable regulatory environment foster innovation and investment in SNG projects.
Key players such as Air Liquide, Shell, Chevron Corporation, BP, and Sasol are at the forefront of market expansion, leveraging their technological expertise and strategic partnerships to drive innovation and capture a significant market share. Companies are investing in the construction of new SNG production facilities and the expansion of existing ones to meet growing demand for renewable and sustainable energy sources. These facilities utilize various technologies such as gasification, methanation, and biogas upgrading to convert feedstocks like biomass, waste, and stranded gas into SNG. For instance, in April 2024, a joint venture named RNG Holdings, established by Chevron USA Inc. and Brightmark Fund Holdings, unveiled its Eloy Renewable Natural Gas (RNG) facility in Arizona. This facility is mainly dedicated to producing pipeline fuel by harnessing methane from dairy operations. Investments in infrastructure are crucial for the transportation, storage, and distribution of SNG to end-users. This includes the construction of pipelines, compression stations, storage facilities, and refueling stations to support the integration of SNG into existing natural gas networks and supply chains.
Market Segmentation:
Segmentation by Application
- Transportation
- Power Generation
- Industrial
- Grid Injection
Segmentation by Technology
- Anaerobic Digestion and Fermentation
- Thermal Gasification: Moving Bed Gasifier, Fluidized Bed Gasifier, Entrained Flow Gasifier
- Power-to-gas
- Others
Segmentation by Region
- North America
- Europe
- Asia-Pacific
- Rest-of-the-World
How can this report add value to an organization?
Product/Innovation Strategy: The global synthetic natural gas market has been extensively segmented based on various categories such as application and technology. This can help readers get a clear overview of which segments account for the largest share and which ones are well-positioned to grow in the coming years.
Competitive Strategy: A detailed competitive benchmarking of the players operating in the global synthetic natural gas market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $24.86 Billion |
| Forecasted Market Value (USD) by 2034 | $151.09 Billion |
| Compound Annual Growth Rate | 19.7% |
| Regions Covered | Global |
Key Market Players and Competition Synopsis
Some of the prominent companies in this market are:
- Basin Electric Power Cooperative
- Air Liquide
- EnviTec Biogas AG
- Verbio SE
- Kinder Morgan
Key Questions Answered in this Report:
- What are the main factors driving the demand for synthetic natural gas market?
- What are the major patents filed by the companies active in synthetic natural gas market?
- Who are the key players in the synthetic natural gas market, and what are their respective market shares?
- What are the strategies adopted by the key companies to gain a competitive edge in synthetic natural gas market?
- What is the futuristic outlook for the synthetic natural gas market in terms of growth potential?
- What is the current estimation of the synthetic natural gas market, and what growth trajectory is projected from 2024 to 2034?
- Which application, and product segment is expected to lead the market over the forecast period (2024-2034)?
- Which regions demonstrate the highest adoption rates for synthetic natural gas market, and what factors contribute to their leadership?
For more information about this report visit https://www.researchandmarkets.com/r/wb9obt
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