Global Synthetic Natural Gas (SNG) Market Size Study, by Technology (Power-to-gas, Thermal Gasification, Anaerobic Digestion & Fermentation, Other Technologies), by Application (Grid Injection, Industrial, Power Generation, Transportation) and Regional Fo

Global Synthetic Natural Gas (SNG) Market Size Study, by Technology (Power-to-gas, Thermal Gasification, Anaerobic Digestion & Fermentation, Other Technologies), by Application (Grid Injection, Industrial, Power Generation, Transportation) and Regional Forecasts 2022-2032

The Global Synthetic Natural Gas Market is valued approximately at USD 20.75 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 22.0% over the forecast period 2024-2032. Synthetic natural gas (SNG) is an engineered substitute for conventional natural gas, created through gasification processes that convert carbon-based feedstocks like coal, biomass, or municipal solid waste into a methane-rich gas. This SNG can seamlessly replace traditional natural gas in heating, electricity generation, and transportation, benefiting from reduced greenhouse gas emissions and bolstered energy security by diversifying fuel sources. SNG's compatibility with existing natural gas infrastructure adds to its appeal as a versatile component in the transition towards a sustainable energy future.

The market is expected to witness significant growth driven by the global focus on reducing greenhouse gas emissions and the increasing demand for clean, sustainable energy sources. Advances in gasification and synthetic fuel production technologies, coupled with government incentives and regulations promoting renewable energy, are propelling market growth. However, the high initial capital investment for gasification plants and technical challenges in SNG production may impede market progress. Conversely, integrating SNG production with carbon capture and storage (CCS) technologies to further reduce emissions, along with the potential for SNG exports to regions lacking natural gas resources, presents substantial growth opportunities.

The transportation segment held the largest market share and is expected to maintain its dominance throughout the forecast period due to the urgent need to reduce vehicle emissions to combat air pollution and climate change. SNG, as a cleaner alternative fuel to gasoline and diesel, can be produced from various feedstocks, including renewables like biomass and waste materials, offering a sustainable energy solution. Moreover, SNG's compatibility with existing natural gas infrastructure facilitates its integration into transportation systems, supporting the transition to cleaner fuels for vehicles ranging from buses and trucks to ships. As global regulations on emissions tighten and cleaner fuel incentives increase, the demand for SNG in transportation is poised to grow significantly.

Europe dominates as the largest market for synthetic natural gas, driven by the region's stringent energy and environmental policies. With ambitious climate targets outlined in initiatives like the European Green Deal and the Paris Agreement, Europe is actively seeking renewable and low-carbon energy solutions. SNG, produced from renewable sources or through power-to-gas processes, aligns with these goals, offering a sustainable alternative to traditional natural gas. Europe's dense population and extensive transportation networks further enhance the demand for cleaner fuels like SNG, supporting its use across heating, industry, and transportation sectors. The region's established natural gas infrastructure and regulatory frameworks also facilitate SNG adoption, ensuring robust market demand as Europe continues its transition towards a sustainable energy future. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period.

Major market players included in this report are:

Air Liquide

Ameresco

Basin Electric Power Cooperative

Chevron Corporation

E. ON SE

Brightmark

EnviTec Biogas AG

Kinder Morgan

OPAL Fuels

Shell

TotalEnergies

Verbio SE

Waga Energy

The detailed segments and sub-segment of the market are explained below:

By Technology:
• Power-to-gas
• Thermal Gasification
• Anaerobic Digestion & Fermentation
• Other Technologies

By Application:
• Grid Injection
• Industrial
• Power Generation
• Transportation

By Region:
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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