Press release
Bio-CNG Market Gaining Momentum Ahead on Innovation: Clean Energy Fuels, Verbio SE, Shell
Bio-CNG
According to HTF Market Intelligence, the Global Bio-CNG market to witness a CAGR of 5.24% during forecast period of 2023-2028. Global Bio-CNG Market Breakdown by Application (Transportation, Power Generation, Commercial, Industrial) by Technology (Anaerobic Digestion, Gasification, Pyrolysis) by Distribution Mode (Pipeline Injection, Compressed Natural, Gas Liquified Natural Gas) and by Geography (North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA). The Bio-CNG market size is estimated to increase by USD 12.9 Billion at a CAGR of 5.24% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 25.57 Billion.
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Bio-CNG (Compressed Natural Gas) is a renewable form of CNG produced by purifying biogas generated from organic waste materials like agricultural residues, animal manure, sewage, and food waste. It offers a cleaner alternative to conventional fossil-based fuels, reducing greenhouse gas emissions and promoting sustainable energy solutions.
Bio-CNG market - Key Segment Analysis
The market share growth by the xx segment will be significant during the forecast period. The segment is driven by the Environmental Concerns: Rising awareness about reducing greenhouse gas emissions and combating climate change..
Bio-CNG market - Competition Analysis
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Bio-CNG
Market Drivers
• Environmental Concerns: Rising awareness about reducing greenhouse gas emissions and combating climate change.
Market Trend
• Growing Demand for Renewable Energy: Increasing emphasis on reducing carbon footprints and transitioning to renewable energy is boosting the demand for Bio-CNG.
Market Opportunities
• Expansion in Waste Management: Growing opportunities in converting organic waste into Bio-CNG for both energy generation and fuel purposes.
Market Restraints
• Infrastructure Limitations: Lack of robust infrastructure for the distribution and storage of Bio-CNG.
Market Challenges
• Competition from Other Renewables: Bio-CNG competes with other renewable energy sources like solar, wind, and hydrogen.
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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Nidhi Bhawsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketintelligence.com
About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making.
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