NEWARK, Del, April 12, 2024 (GLOBE NEWSWIRE) -- The biogas market is estimated to be worth US$ 79.84 billion in 2024 and is projected to be valued at US$ 147.08 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 6.30%.
The desire to minimize greenhouse gas emissions and the global trend towards renewable energy sources in response to climate change concerns is a primary factor driving the expansion of the biogas market. As a renewable energy source, biogas is essential for lowering dependency on fossil fuels and diversifying the energy mix.
Feed-in tariffs, renewable energy objectives, tax credits, and grants are examples of supportive government policies and incentives that encourage investment in biogas projects and foster a favorable market environment. These regulations give biogas producers incentives and financial security, which propels market expansion.
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Growing environmental consciousness regarding air and water pollution, landfilling, and greenhouse gas emissions propels the usage of biogas technology as an environmentally friendly waste management option. Producing biogas from organic waste streams helps divert garbage from landfills, lessen odor pollution, and reduce methane emissions.
The efficiency, dependability, and economics of biogas generation are increased by ongoing developments in biogas technology, which include enhancements to anaerobic digestion procedures, biogas purification, and upgrading systems. Technological advancements encourage market expansion by making biogas a more competitive renewable energy source.
Key Takeaways
- From 2019 to 2023, the biogas market expanded at a CAGR of 4.70%.
- Based on the source, the agriculture segment is expected to account for a market share of 32.50% in 2024.
- The demand for biogas in the United Kingdom is predicted to grow at a CAGR of 2.65% through 2034.
- In the United States, the biogas industry is estimated to register a CAGR of 3.80% from 2024 to 2034.
- China is projected to expand by a CAGR of 7.56% between 2024 and 2034.
- The biogas market in India is anticipated to record a CAGR of 10.08% during 2034.
“The biogas industry is expanding due to a confluence of factors including favorable regulations, environmental consciousness, technological advancements, and available market possibilities,” says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape
Businesses in the biogas industry spend money on R&D to create innovative technologies for upgrading and purification, optimize anaerobic digestion processes, and increase biogas yields. Technological innovation enables market participants to boost biogas's overall competitiveness as a renewable energy source by decreasing costs, increasing efficiency, and improving overall efficiency.
- SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB is a Swedish company developing, building, and operating biogas plants. They focus on producing biogas from organic waste and wastewater treatment, with a focus on sustainability and circular economy principles.
- Schmack Biogas GmbH is a German firm specializing in biogas plants' engineering, construction, and operation. It is a subsidiary of the Viessmann Group. They provide complete solutions for producing biogas from various feedstocks, such as organic residues, energy crops, and agricultural waste.
Report Scope of the Biogas Market
| Attributes | Details | ||
| Estimated Market Size in 2024 | US$ 79.84 billion | ||
| Projected Market Valuation in 2034 | US$ 147.08 billion | ||
| Value-based CAGR 2024 to 2034 | 6.30% | ||
| Forecast Period | 2024 to 2034 | ||
| Historical Data Available for | 2019 to 2023 | ||
| Market Analysis | Value in US$ billion | ||
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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More Valuable Insights Available
Future Market Insights offers an unbiased global biogas market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand opportunities in the biogas industry, the industry is segmented based on Source (Agriculture, Municipal, Industrial, Others) By Application (Electricity, Heat, Vehicle Fuel, Others), Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa)
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The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
Authored By
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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