Methane Global Industry Report 2023

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Oct 06, 2023, 14:15 ET

DUBLIN, Oct. 6, 2023 /PRNewswire/ -- The "Methane Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global methane market is expected to grow from $97.06 billion in 2022 to $106.65 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The methane market is expected to reach $152.33 billion in 2027 at a CAGR of 9.3%.

The methane market is witnessing a surge in technological advancements, with leading companies embracing innovation to maintain their market positions. A prime example is Honeywell International Inc., a US-based energy technology pioneer, which introduced the Mini GCI system in April 2021.

This gas cloud imaging system employs cutting-edge hyperspectral gas analytics and artificial intelligence to provide continuous and automated monitoring for methane leaks in various industrial settings, including oil and gas, chemical, and power plants. The Mini GCI's capabilities encompass real-time visualization of gas plumes, allowing for swift and effective response measures to prevent larger emissions and safety risks.

Furthermore, the automotive industry's growing demand is poised to drive the methane market's future growth. Methane, known for its affordability and environmental benefits, is gaining traction as a clean and cost-effective fuel source in the automotive sector. It is widely utilized in compressed forms like compressed natural gas (CNG) or compressed biogas (CBG) in light-duty vehicles, and in liquefied form in heavy-duty long-haul vehicles.

For instance, the US automotive and automobile manufacturing market was valued at approximately $104.1 billion in 2021, with the country producing 9.2 million vehicles, marking a 4.5% increase from the previous year, as reported by Zippia, Inc. Additionally, global passenger car sales rose from 53 million in 2020 to 56 million in 2021, while commercial vehicle sales increased from 24 million to 26 million during the same period, according to the International Organization of Motor Vehicle Manufacturers (OICA).

Moreover, in a strategic move in February 2021, Rosetti Marino S.p.A., an Italian engineering and construction services company, acquired Green Methane S.R.L., a methane gas specialist. This acquisition strengthens Rosetti Marino's position as an integrated contractor, enabling it to offer a complete biogas treatment line, including the production of green methane, even in liquefied form, and green hydrogen.

With North America leading the methane market in 2022 and Europe closely following as the second-largest region, the report covers key regions, including Asia-Pacific, Western and Eastern Europe, North and South America, and the Middle East and Africa, providing valuable insights into the market's dynamics and growth opportunities.

Major players in the methane market are

BP Plc.
Oil and Natural Gas Corporation
IGas Energy Plc.
Black Diamond Energy Inc.
China National Petroleum Corporation
Senex Energy Limited
Shell Plc.
China National Offshore Oil Corporation
Dart Energy Corporation
Metgasco Limited
G3 Exploration Ltd.
AGT International
Air Liquide SA
Axcel Gases
Bhuruka Gases Limited
Chemix Specialty Gases and Equipment
Chengdu Taiyu Industrial Gases Co. Ltd.
Linde Plc.
Osaka Gas Co. Ltd.
Qingdao Guida Special Gas Co. Ltd.

Key Topics Covered:

1. Executive Summary

2. Methane Market Characteristics

3. Methane Market Trends And Strategies

4. Methane Market - Macro Economic Scenario
4.1. COVID-19 Impact On Methane Market
4.2. Ukraine-Russia War Impact On Methane Market
4.3. Impact Of High Inflation On Methane Market

5. Methane Market Size And Growth
5.1. Global Methane Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Methane Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Methane Market Segmentation
6.1. Global Methane Market, Segmentation By Source, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Natural
Synthetic

6.2. Global Methane Market, Segmentation By Production Method, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Fermentation
Gasification

6.3. Global Methane Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Fuel
Natural Gas
Chemical Feedstock
Liquified Natural Gas
Liquid-Methane Rocket Fuel
Power Generation
Residential
Other Applications

6.4. Global Methane Market, Segmentation By End Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Automotive
Aerospace And Defense
Electrical
Chemical
Other End Users

7. Methane Market Regional And Country Analysis
7.1. Global Methane Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Methane Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/mdmkcr

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