In Oregon, Allied Analytics reported that the bio-LNG market size was valued at $0.7 billion in 2022, and is estimated to reach $3.4 billion by 2032, growing at a CAGR of 17.9% from 2023 to 2032.
Europe dominated the bio-LNG market and is expected to grow at a high CAGR during the forecast period, the report added.
“Policies and programs of the European Union (EU) are also essential in encouraging the usage of bio-LNG among its member states. The use of renewable energy sources like bio-LNG is encouraged by the EU’s ambitious climate and energy targets, which are designed to reduce greenhouse gas emission and promote sustainability and hence contribute to current bio-LNG market trends,” the report stated.
“Environment concerns and renewable energy policies, energy security & waste management, and low emissions and compatibility with existing infrastructure are the upcoming trends of Bio-LNG Market,” it added.
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