South Korea Bio-lng Market Size & Outlook, 2023-2030
South Korea bio-lng market, 2018-2030 (US$M)
Related Markets
South Korea bio-lng market highlights
- The South Korea bio-lng market generated a revenue of USD 3.8 million in 2023 and is expected to reach USD 159.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 70.7% from 2024 to 2030.
- In terms of segment, municipal waste was the largest revenue generating source type in 2023.
- Organic Industrial Waste is the most lucrative source type segment registering the fastest growth during the forecast period.
Bio-lng market data book summary
| Market revenue in 2023 | USD 3.8 million |
| Market revenue in 2030 | USD 159.8 million |
| Growth rate | 70.7% (CAGR from 2023 to 2030) |
| Largest segment | Municipal waste |
| Fastest growing segment | Organic Industrial Waste |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Organic Household Waste, Organic Industrial Waste, Municipal Waste |
| Key market players worldwide | Linde PLC, Shell PLC, TotalEnergies SE, Flogas Britain, DCC PLC, BoxLNG |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.3% of the global bio-lng market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China bio-lng market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 464.7 million by 2030.
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Bio-LNG Market Scope
Bio-LNG Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea bio-lng market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bio-lng market will help companies and investors design strategic landscapes.
Municipal waste was the largest segment with a revenue share of 36.84% in 2023. Horizon Databook has segmented the South Korea bio-lng market based on organic household waste, organic industrial waste, municipal waste covering the revenue growth of each sub-segment from 2018 to 2030.
Bio-LNG market in South Korea is expected to grow at a stagnant rate owing to the dependency of the country on LNG imports. South Korea is highly dependent on tanker shipments of liquefied natural gas and crude oil.
According to Energy Information Administration, as of 2021, South Korea was the world’s seventh-largest energy consumer and third-largest importer of LNG after Japan and China. In July 2020, the Government of South Korea released Green New Deal as an economic initiative to achieve reduction.
In greenhouse gas emissions and improvement in renewable generation capacity. Such initiatives are expected to drive the adoption of renewable energy and increase innovations in the green energy industry. The aforementioned factors are expected to augment the growth of the bioLNG market in the country over the forecast period.
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Our clientele includes a mix of bio-lng market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea bio-lng market , including forecasts for subscribers. This country databook contains high-level insights into South Korea bio-lng market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea bio-lng market size, by source type, 2018-2030 (US$M)
South Korea Bio-LNG Market Outlook Share, 2023 & 2030 (US$M)
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