NEWARK, Del, Nov. 21, 2022 (GLOBE NEWSWIRE) -- The global biogas market was worth US$ 61.2 Bn in the year 2021 and is expected to witness a CAGR of 6.8% between 2021 and 2031.
Biogas could be referred to as mixture of the gases produced from various raw materials like manure, agricultural waste, municipal waste, sewage, plant material, food waste, or green waste. The basic constituents are methane and carbon dioxide with a small quantity of water vapor and various supplied compounds. Energy gets released by burning of the gas.
Several countries are coming forward to apprise of their conviction in ‘Paris Climate Change Agreement’. Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Biogas Market’.
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Key Takeaways from Biogas Market
- Europe holds the largest market share. As of now, it does produce close to 2 Bn cubic meters of biogas every single year. Of late, in Renewable Energy Directive II (RED II), EU target for consumption of RES (renewable energy sources) by the year 2030 has been increased to 32%. The regions at the forefront include Sweden, Italy, Spain, the UK, and Germany. There are over 10,000 plants operating in Germany alone.
- Coming to North America, the US alone has over 2,000 plants. In other words, there are ~250 anaerobic digesters on farms, ~65 standalone systems digesting food waste, ~1200 water resource recovery facilities, and ~600 landfill gas projects.
- The Asia-Pacific is expected to grow in biogas market on the back of economies like China and India. The Indian government is planning to have solid waste’s scientific management in entirety.
Competitive Landscape
- Ductor, in April 2020, started building 3 combined biofertilizer-biogas facilities in Zachodniopomorskie region of Poland. Two of these 3 plants’ installed capacity is 0.5 MW, and the 3rd stands at 1 MW.
- Gasum, in June 2020, did announce that they would be opening an LNG (liquefied natural gas) and LBG filling station adjacent to Arlanda Airport (Stockholm). This station is the very first one erected by Gasum.
- Mazoon Dairy Company (MDC), in October 2019, did open a biogas plant, which is based out of Oman. The objective was usage of waste to convert into energy for enhancing ‘waste management efficiency’. This is actually the very first time clean technology has been adopted by a dairy company.
- Repsol (Spain), in June 2020, did announce developing an industrial-scale biogas project.
- Hitachi Zosen Inova, in October 2021, did announce that it would be taking over the business operations of microbEnergy GmbH and Schmak Biogas GmbH for expanding the foothold with respect to renewable gases. The agreement was inked with Viessman Group in the year 2021.
- Envitech Biogas AG, in October 2021, inked a contract with East China Engineering and technology Co., Ltd. for establishing the 8th manufacturing plant all across China. This facility aims on increasing production by making use of the biogas upgradation systems through EnviThan.
- Wartsila, in January 2021, did announce that it would be supplying 2 large-scale biogas upgrading plants all across Denmark. The two plants installed in towns of Kong and Kvaers are expected to upgrade to over 40 Mn nm3 biogas to ‘biomethane’ every single year. This green gas energy is expected to fuel over 45K cars.
- Air Liquide, in October 2019, came up with biogas purification solutions at BioCycleREFOR19 exhibition. They are abreast with membrane technology of the higher grade that renders upgradation of biogas more efficient as well as cost-effective.
“With biogas being increasingly used to generate electricity, cook food, heat, and enable transportation, the global biogas market is bound to reach the top pedestal in the forecast period”, says an analyst from Future Market Insights.
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What does the Report gauge?
- The research study is based on source (agriculture, municipal, industrial, and others) and by application (electricity, heat, vehicle fuel, and likewise).
- With growing end-use applications like heat, electricity, upgraded biogas, vehicle fuel, and cooking gas, the global biogas market is bound to grow on an exponential note in the near future.
Key Drivers
- Implementation of favorable government policies, encouraging the sales of biogas-driven buses, cars, and trucks through tax exemptions and investment subsidies in the U.S., Germany, China, and India is expected to drive the market.
- Increasing use of biogas for generating electricity and heat across the power generation sector is spurring the sales in the electricity segment.
Table of Content
1. Executive Summary
2. Research Methodology
3. Assumptions & Acronyms
4. Market Introduction
4.1. Market Definition
4.2. Market Taxonomy
5. Market Analysis Scenario
5.1. Market Volume Analysis
5.2. Market Size (US$ Mn) and Forecast
5.2.1. Market Size and Volume
5.2.2. Absolute $ Opportunity
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