The recently released Global Methane Market Study by MarkNtel Advisors is thoughtfully structured to provide readers with a comprehensive grasp of the market landscape and its most profitable segments. The research report systematically presents precise data in a statistical format, encompassing recent market opportunities and historical successes.
Analysing Key Drivers and Trends in the Report:
As per the report, “In 2022, the Global Methane Market reached a valuation of USD 97.13 billion, with a projected compound annual growth rate (CAGR) of 5.8% anticipated during the forecast period from 2022 to 2027.” The market’s upward trajectory is fueled by the rapid expansion of industries such as electronics, automotive, and aerospace on a global scale, resulting in an increased demand for methane across various countries. This growing demand is primarily attributed to the versatile applications of methane, particularly in the generation of heat and light.
As the world’s population experiences exponential growth, the agricultural sector faces significant challenges in meeting consumption demands. Consequently, there is mounting pressure to enhance agricultural productivity and expedite soil replenishment. This has led to a surging demand for methane as a natural source in the production of ammonia and urea for fertilizers, thereby contributing substantially to the overall growth of the methane market.
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Global Methane Market Segments, as per the Research Report
The Global Methane Market is expected to experience the most rapid growth in the fuel application segment from 2022 to 2027.
This is primarily attributed to methane’s ability to generate a substantial amount of heat and light energy per unit mass, surpassing traditional fossil fuels like gasoline and coal. Also, methane stands out by emitting fewer pollutants compared to other hydrocarbons and fossil fuels.
Moreover, the increasing awareness of methane’s efficacy as a fuel source is driving a swift rise in demand for various residential and industrial applications. This includes the use of methane to power appliances and machinery. Consequently, the escalating demand for methane in fuel applications is poised to significantly contribute to the overall expansion of the market in the future.
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The Natural Source Segment is expected to play a significant role in driving market expansion through 2027, primarily fueled by the increasing preference for cleaner resources among the global population. Methane obtained from natural sources is regarded as environmentally friendlier when burned, contributing to a surge in its utilization across various industries. This preference for natural sources is acting as a catalyst, propelling the overall growth of the Global Methane Market.
Industries are becoming more cognizant of the additional advantages offered by naturally derived methane. These include being a preferable alternative to oil and coal, possessing a richer carbon content, and being abundantly available. The growing awareness of these benefits is further positively influencing the demand for naturally sourced methane, paving the way for a rapid expansion of the Global Methane Market in the years to come.
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Competitive Landscape
The report focuses on key market participants such as American Gas Products, Black Diamond Energy Inc., Bow Energy, BP PLC, China National Offshore Oil Company, China National Petroleum Corporation, Dart Energy Corporation, G3 Exploration, Halliburton Co., IGas Energy, Metgasco Ltd., Oil and Natural Gas Corporation, Royal Dutch Shell PLC., Senex Energy Limited, and TLOU Energy Ltd. analyzing their strategies such as growth, partnerships, new product development, collaborations, mergers, and acquisitions to maintain their market positions.
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