Introduction

The global synthetic natural gas (SNG) market is poised for strong expansion, with Stratview Research estimating the synthetic natural gas market size at US $23.9 billion in 2024, and forecasting it to reach US $104.2 billion by 2031 — a CAGR of about 23.4%. This growth is driven by the need to reduce dependency on conventional natural gas, bolster energy security, and support low-carbon transition strategies.

Applications

SNG can be used in power generation, industrial heat and feedstock, residential & commercial heating, and increasingly in transportation fuels. According to Stratview, the power-generation segment is expected to dominate as SNG offers compatibility with existing gas infrastructure, enabling fuel switching with minimal new build-out.

Key Drivers

Major drivers of market growth include:

• The imperative for energy security in gas-importing nations, leading to investment in domestic SNG production.
• Global decarbonisation goals and regulations, which favour alternative methane sources derived from biomass, waste or renewable hydrogen.
• Technological advances in gasification, methanation, and power-to-gas (P2G) pathways that make SNG production more viable.

Future Opportunities

Significant opportunities lie ahead in:

• Biomass-based SNG and power-to-gas technologies, especially in Europe’s push for renewable methane.
• Large-scale projects in the Asia-Pacific region, particularly China and India, leveraging coal-to-SNG and waste-to-SNG models.
• Retrofitting existing gas infrastructure to accept SNG blends, enabling faster market adoption with lower capex.

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Conclusion

As the world transitions to cleaner, more diversified energy systems, synthetic natural gas is emerging as a strategic pathway bridging conventional fuels and renewables. With robust growth forecasts and wide-ranging applications across energy generation, industry and transport, the SNG market offers compelling opportunities for technology developers, infrastructure investors and policy-makers alike.