The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing need for methane in the automotive industry is likely to encourage innovation in methane manufacturing, propelling the market over the forecast period.

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 global methane market size is expected to reach $152.33 billion in 2027 at a CAGR of 9.3%.

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 Global Methane Market Segments Include:

• By Source: Natural, Synthetic
• By Production Method: Fermentation, Gasification
• By Application: Fuel, Natural Gas, Chemical Feedstock, Liquified Natural Gas, Liquid-Methane Rocket Fuel, Power Generation, Residential, Other Applications
• By End Users: Automotive, Aerospace and Defense, Electrical, Chemical, Other End Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global methane market in 2021.

Major Market Players in the methane market include 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.

Technological developments are a major trend that is gaining traction in the methane industry. To maintain their market position, major players in the methane industry are using innovative technology. For example, Honeywell International Inc, a US-based company that invents and manufactures energy technologies, introduced the Mini GCI system in April 2021 to provide automated and continuous monitoring for methane leaks at oil and gas, chemical, and power-producing plants. Mini GCI devices can be deployed across an industrial site to continuously monitor for and notify of gas leaks. Powered by patented hyperspectral gas analytics and artificial intelligence, the solution provides facility operators with a colourful visualisation of the gas plume type, position, direction, size, and concentration. This allows for a faster and more effective reaction before leaks become greater emissions or safety issues.

The Methane Global Market Report 2023  provides a methane market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The methane market forecast analyzes methane market size, methane market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Methane is a combustible, colourless, odourless, compressed gas with minimal pollutants that can be utilised alone or as a component in gas mixtures for a variety of purposes including power production, antifreeze chemicals in industry, sanitising goods and others. It is a hydrocarbon that is a key component of natural gas.

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