Biogas Market

Biogas Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Biogas Market grew at a CAGR of 5.9% between 2017-2021 and is estimated to be US$ 57,421.8 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.4% and is expected to reach a valuation of US$ 1,06,780.8 Mn by 2032 end.

Improved government policies are expected to drive increased production and consumption of Biogas. These policies will include increasing transportation fuel use targets for renewable fuels, promoting the distribution of renewable energy sources, and providing incentives for using clean and renewable energy sources.

Market Dynamic

RISING DEMAND FOR ELECTRICITY WILL DRIVE THE MARKET FOR BIOGAS

As the electricity demand continues to grow in the global market, the development and growth of the biogas industry are also creating huge opportunities. According to the IEA, the electricity demand has grown in industrial and commercial areas for a decade. Moreover, the market and need for electricity have increased over time due to rising urbanization. As a result, the growing electricity demand is driving the growth and development of the biogas market.

HIGH INVESTMENT COSTS HAMPER THE MARKET GROWTH OF BIOGAS

The biogas plants are robust, reliable, and highly effective. The biogas plants require huge amounts of land, capital investments, and other resources. The costs of machines, equipment, and materials add to the high manufacturing cost. Similarly, the labor force is also required to carry out tasks in generating Biogas from waste material. Moreover, storage of waste also requires a huge place for storing them. Thus, high capital investments for biogas plants restrict biogas market growth over the projected period.

EXPANDING GOVERNMENT PROGRAMMES WILL CREATE OPPORTUNITIES FOR NEW PLAYERS

In the upcoming years, there are expected to be many opportunities for adopting Biogas systems due to the worldwide increase in rural electrification projects.

The global biogas market is gradually increasing in demand and awareness. The government of developed and underdeveloped regions has started taking action to grow this industry. Governments across the globe are striving to save the environment by implementing clear guidelines and policies. As a result, increasing initiatives by the government are creating lucrative opportunities to expand the global biogas market.

Market Segments Covered in Report

By Source:

• Agriculture
• Municipal
• Industrial and Others

By Application:

• Electricity
• Heat
• Vehicle Fuel
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are municipal source segments projected to ensure the most revenue during the forecast period?

At 42.0% of the market, a municipal source had the greatest revenue share due to the Waste to Energy program on municipal waste management for using Biogas in domestic, industrial, and commercial applications. The main goal of this initiative is to offer renewable fuel by transforming municipal waste into gas that has the potential to contribute significantly towards reducing the environmental burden from conventional fossil burning.

Why is Electricity Generation expected to dominate the market during the forecast period?

Global electricity generation is expected to witness a year-on-year growth rate of 9%. The world saw a constant increase in global electricity generation due to increasing energy demand from ever-increasing population levels, industrialization, and urbanization.

Biogas is a vital source of electricity generation in the power sector, thereby contributing to the clean energy transition. The age of electricity from Biogas is an established technology extensively implemented worldwide. CHP engines are often used for electricity generation and heat recovery.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, the Europe market held a sizeable revenue share of 39.4%. In emerging economies, rapid population development has raised the need for electricity. Europe is projected to develop at the highest rate during the forecast period, primarily due to a rise in investment in research and development activities for developing the biogas market in Europe.
• In the forecast period, Asia-Pacific is projected to remain the fastest-growing region for the biogas market. The market is expected to perceive substantial growth in the upcoming years, owing to an increased number of government initiatives and funding. China holds a major share of this market in the Asia-Pacific region, as it has set a target of generating 55 million megawatts of electricity through anaerobic digestion by 2030.

Competition Analysis

The global biogas market is expected to be driven by increasing demand for the energy segment among newer and developing economies, increasing implementation of various government policies to promote renewable energy sources and major players in the renewable energy sector investment in improved facilities and advancements.

These actions have enabled market participants to increase their clientele and revenue. With the increasing demand for biogas in the worldwide industry, market players in the Biogas Market can anticipate attractive growth prospects in the future.

Some of the key developments that have taken place in the Biogas Market include:

• In October 2021, To increase its presence in the sector of renewable gases, the Swiss-Japanese cleantech company Hitachi Zosen Inova announced that it would assume the business activities of Schmak Biogas Service GmBH and microbEnergy GmBH. In July 2021, the contract was signed with the current parent business Viessman Group.
• In October 2021, Envitech Biogas Ag inked a contract with East China Engineering Science & Technology Co., Ltd to construct their eighth manufacturing facility in China. With the help of EnviThan’s biogas upgrade technologies, the new production plant hopes to improve production.

A list of some of the key suppliers present in the market are:

• Air Liquide
• Wartsila
• EnviTech Biogas AG
• Asia Biogas
• SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB
• Schmack Biogas GmbH
• Swedish Biogas International AB
• PlanET Biogas Global GmbH
• P. Renewable Energy Source Pvt. Ltd
• Agrinz Technologies GmbH
• Greenlane Biogas

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.