Methane Industry Set to Achieve $178.65 Billion Milestone by 2029 | Steady 9% CAGR

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What Is the Long-Term Growth Forecast for the Methane Market Size 2025?
The market for methane has experienced robust growth in the recent past. A surge is expected from its value of $116.19 billion in 2024 to $126.37 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%. Industrialization and energy manufacturing, agricultural pursuits, waste handling, extraction of fossil fuel, deforestation, and alterations in land usage are some of the key contributors to the growth witnessed during the historic span.

What CAGR is Forecasted for the Methane Market Through 2029?
The market size of methane is predicted to demonstrate significant expansion in the coming years and is projected to reach $178.65 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.0%. This escalation during the predicted period can be credited to initiatives in renewable energy, a shift toward sustainability, investment in methane reduction solutions, as well as standards for monitoring and reporting of methane. The major trends during this forecast period are an increasing awareness of climate change, monitoring of methane emissions, efforts to decrease agricultural and industrial emissions, and changes in policies and regulations.

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What Are the Critical Factors Driving Methane Market Development?
The growth of the methane market is projected to be propelled by the rising demand in the automotive industry. The automotive sector comprises businesses involved in the manufacture, sale, repair, and customization of motor vehicles. Methane serves as a fuel source in this industry owing to its several benefits such as its affordability and eco-friendliness (it releases fewer harmful pollutants), making it an attractive alternative to traditional gasoline and diesel. It's typically used in light-duty vehicles in a compressed state (either as compressed natural gas or compressed biogas) and in liquid form in heavy-duty long-haul vehicles. For example, a study by the European Automobile Manufacturers Association, a standard-setting organization based in Belgium, reported in April 2022 that global automobile production in 2021 was 79.1 million, a 1.3% increase from the prior year. A March 2022 report from the US Department Of Energy, an agency in charge of managing nuclear infrastructure and energy policies, noted that electric vehicle sales surged by 85% in 2021. Therefore, the surge in the automotive sector's demand is fueling the methane market's growth.

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How Does the Methane Market Break Down Across Major Segments?
The methane market covered in this report is segmented -

1) By Source: Natural, Synthetic
2) By Production Method: Fermentation, Gasification
3) By Application: Fuel, Natural Gas, Chemical Feedstock, Liquefied Natural Gas, Liquid-Methane Rocket Fuel, Power Generation, Residential, Other Applications
4) By End Users: Automotive, Aerospace And Defense, Electrical, Chemical, Other End Users

Subsegments:
1) By Natural: Conventional Natural Gas, Biogas, Landfill Gas
2) By Synthetic: Methanol-To-Gas (MTG), Power-To-Gas, Gasification Processes

What Are the Major Trends Transforming the Methane Industry?
The methane market is positively influenced by progressive technological developments. Prominent companies in the market are embracing innovative technologies to maintain their competitive edge. Case in point is the Methane Alert and Response System (MARS), a satellite-driven initiative devised and launched by United Nations Environment Programme, a Kenya-based company, in November 2022. This program is geared toward the detection and mitigation of global methane emissions using sophisticated satellite technology for real-time surveillance and pinpointing of significant emission sources. The initiative aligns with the Global Methane Pledge's goal of reducing emissions by 30% come 2030. MARS enhances open access to data and promotes accountability, providing immediate data on methane emissions for quick responses, supervising emissions across energy, waste, and agriculture globally, and amalgamating multiple satellite sources for accurate detection and attribution.

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Which Players Are Driving Innovation in the Methane Market?
Major companies operating in the methane market include BP plc, Oil and Natural Gas Corporation, IGas Energy plc, China National Petroleum Corporation, Senex Energy Limited, Shell plc, China National Offshore Oil Corporation, Metgasco Limited, G3 Exploration Ltd., Air Liquide SA, Bhuruka Gases Limited, Chengdu Taiyu Industrial Gases Co. Ltd., Linde plc, Osaka Gas Co. Ltd., Qingdao Guida Special Gas Co. Ltd., Primus Green Energy Inc., Gazprom Neft PJSC, Bharat Petroleum Corp. Ltd., Chevron Corporation, Exxon Mobil Corporation, Honeywell International Inc., TotalEnergies SE, Hess Corporation, Koch Minerals & Trading LLC

Which Regions Are Driving Global Methane Market Expansion?
North America was the largest region in the methane market in 2024. Europe was the second-largest region in the methane market. The regions covered in the methane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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This release was published on openPR.