Global Methane Market Segments 2024, Forecast To 2033
5 Mar, 2024
The methane market has experienced substantial growth, escalating from $106.65 billion in 2023 to $117.07 billion in 2024, with a notable 9.8% CAGR. Industrialization, energy production, and agricultural activities contributed to historic growth. The market is projected to reach $167.09 billion in 2028, reflecting a 9.3% CAGR. Foreseen trends include renewable energy initiatives, methane abatement solutions, and emission monitoring, aligning with the global focus on sustainable practices and environmental consciousness.
Global Methane Market Key Driver
The methane market anticipates growth due to increased demand in the automotive sector. Methane's usage in automobiles, particularly in compressed forms like CNG and CBG, aligns with the rising global automotive production. In 2021, 79.1 million vehicles were manufactured globally, as reported by the European Automobile Manufacturers Association. Additionally, electric vehicle (EV) sales surged by 85% in 2021, underlining the evolving automotive landscape. The automotive industry's continuous expansion and adoption of cleaner fuel options contribute to the methane market's positive trajectory.
Get A Free Sample Of The Global Methane Market ReportGlobal Methane Market 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, Liquified Natural Gas, Liquid-Methane Rocket Fuel, Power Generation, Residential, Other Applications
4) By End Users: Automotive, Aerospace and Defense, Electrical, Chemical, Other End Users
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the methane market in 2023. 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
Major Methane Industry Players
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 AG; 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.; Primus Green Energy Inc.; Gazprom Neft PJSC; Allied Aviation Services Inc.; Bharat Petroleum Corp. Ltd.; Chevron Corporation; Exxon Mobil Corporation; Honeywell International Inc.; TotalEnergies SE; Hess Corporation; Koch Minerals & Trading LLC;
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AIOps Methane Market Overview
Methane refers to a flammable, colorless, odorless, compressed gas with few contaminants that can be used alone or as a component in gas mixes for a range of applications such as power generation, antifreeze ingredients in industries, sanitizing products, and others. It is a hydrocarbon and a primary component of natural gas.
Methane Global Market Report 2023 provides data on the global methane market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The methane market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.