Global Biogas Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2023-2028
The “Global Biogas Market Growth, Report and Forecast 2023-2028″ by Expert Market Research gives an extensive outlook of the Global Biogas Market assessing the market based on its segments, including feedstock, application, and major regions.
Biogas Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 58.7 billion
• Forecast CAGR (2023-2028): 5.80%
• Forecast Market Size (2027): USD 82.33 billion
Depending on the application, the automotive fuel segment is driving the biogas market growth. The transport sector holds the largest share of greenhouse gas emissions. Using biogas after it has been upgraded to biomethane to match the quality of natural gas reduces the harmful emissions and is also a way to manage the solid waste produced by the growing population. Biogas-derived biomethane usage as a fuel also helps reduce dependency on fossil fuels and petroleum sources, thereby driving the market forward.
Addressing waste management issues and reducing greenhouse gas (GHG) emissions is a challenge. Companies in the biogas market are using this opportunity to develop equipment that contributes to the circular economy and hence, increasing their R&D capabilities to develop equipment that responds to changes in gas composition and moisture to optimize and monitor the entire biomass conversion process. The ready availability of renewable energy sources has led to strong growth in the automotive industry.
Government initiatives to promote biogas for cleaner and greener transportation are playing an important role in expanding the market. For example, the Government of India’s initiative – Sustainable Alternative Towards Affordable Transportation (SATAT), launched in October 2018, aims to build 5,000 CBG (compressed biogas) plants by FY2023-24 to increase the production and availability of affordable clean fuels for the transportation sector. Biogas production improvement study is expected to reduce biogas production costs as vehicle fuel and is expected to support the market over the forecast period.
Biogas Industry Definition and Major Segments
Biogas is a gas fuel that is a mixture of gases, primarily methane, hydrogen sulphide and carbon dioxide. This renewable energy source is derived from anaerobic digestion of organic matter such as agricultural waste, manure, municipal waste, and food waste, among others. It is used in various fields such as powering automobiles, electricity generation, and cooking fuel among others.
By feedstock, the global biogas market is segmented into:
- Organic Residue and Wastes
- Biowaste, Municipal, and Sewage
- Agricultural Waste
• Energy Crops
Based on the application, the market is classified into:
• Electricity Generation
• Combine Heat and Power (CHP)
• Vehicle Fuel
By region, the global biogas market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Biogas Market Trends
Emerging needs for clean and environmentally friendly alternative energy sources such as biogas are driving the biogas market to meet the growing energy demand. The growing population and increasing amount of solid waste has given impetus to the market development of biogas as it is a safe way to dispose of waste and keep the environment clean. The high cost and unavailability of non-renewable energy sources such as fossil fuels are also major factors in the expansion of the biogas market. Biogas is an energy source with a fixed energy value that can be easily stored and used anytime, anywhere, thus enhancing the market.
Government programmes that encourage the production of biogas, such as grants for setting up biogas plants, are also a factor in the market’s constant expansion. Over the course of the forecast period, the market is anticipated to grow because of efforts made by industry participants to increase biogas production and technological improvements in biogas production.
Key Market Players
The major players in the global biogas market are:
- Future Biogas Limited
- L’AIR LIQUIDE S.A
- PlanET Biogastechnik GmbH
- EnviTec Biogas AG
- AB Holding S.p.a
The report covers the competitive landscape, capacities, latest developments, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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