Pune, India, Aug. 09, 2021 (GLOBE NEWSWIRE) -- The global biogas market size is expected to reach USD 37.02 billion by 2028, exhibiting a CAGR of 5.4% during the forecast period. The increasing environmental safety concerns are expected to propel the healthy growth of the market, states Fortune Business Insights, in a report, titled “Biogas Market, 2021-2028.” The market size stood at USD 24.03 billion in 2020.
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List of Key Players in Biogas Market:
- Future Biogas Limited (U.K.)
- Air Liquide (France)
- PlanET Biogas Global GmbH (Germany)
- WELTEC BIOPOWER GmbH (Germany)
- Scandinavian Biogas Fuels International AB (Sweden)
- EnviTec Biogas AG (Germany)
- Ameresco (U.S.)
- Quantum Green (India)
- AB HOLDING SPA (Italy)
- RENERGON International AG (Switzerland)
- StormFisher (Canada)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 5.4% |
| 2028 Value Projection | USD 37.02 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 24.03 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 220 |
| Segments covered | Feedstock, Application and Geography |
| Growth Drivers | Escalating Need for Renewable Energy Resource to Drive Growth |
| Europe to Gain the Largest Share in the Global Market | |
| Companies’ Project Expansions to be a Foremost Growth Strategy | |
| Acceptance of Paris Climate Change Agreement by Several Countries to Boost Market | |
| Pitfalls & Challenges | High Initial Investment for Establishing Plants to Hinder Market Growth |
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COVID-19 Impact:
Unavailability of Raw Materials to Retard Development During COVID-19
There is a halt on bioenergy projects owing to the restrictions imposed on travel, work, industrial operations, and logistics & transportation. Moreover, the unavailability of raw materials, components, and technical support has adversely impacted the biogas market share. In March 2020, construction on the Tees Renewable Energy Plant (Tees REP), a 299 MW biomass power plant in the U.K., was suspended due to the COVID-19 pandemic. The social distancing protocols formed by the governments have resulted in fewer workforce, thus diminishing the production and operations during the pandemic.
Market Segments:
Based on feedstock, the market is divided into organic residue & wastes, and energy crops. Organic residue & wastes are further divided into biowaste, municipal & sewage, agricultural waste, and others. Based on the application, the market can be segmented into electricity generation, heating, combined heat and power (CHP), and others. Geographically, the global market is classified across five key regions, including North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
The report on this market contains:
- Future insights into the market
- In-depth study of the regions
- Product and brand strategies
- Factors enabling market growth
- Competitive landscape
- COVID-19 impact
Driving Factor:
Heavy Demand for Purified Biomethane Version to Bolster Growth
The growing inclination towards biogas with an aim to reduce dependence on oil and maintain sustainability can have an excellent effect on the market. The growing knowledge about the high-energy methane gas, which is an upgraded version of biogas, will spur opportunities for the market during the forecast period. For instance, Purified biomethane has similar properties as natural gas and also acts as a highly efficient and environmental-friendly fuel for natural gas cars or natural gas grid. According to the International Renewable Energy Agency (IRENA), bio-gas as vehicle fuel can reduce greenhouse gas emissions by about 60% to 80% compared to fossil-based fuels. Also, the shift from conventional fossil fuel to biogas owing to the rising global and environmental problems will bode well for the biogas market growth.
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Regional Analysis:
Implementation of Stringent Policies to Aid Expansion in Asia Pacific
The market in Asia Pacific is predicted to witness a significant growth rate during the forecast period. The implementation of strict regulations to curb carbon footprint by the government in economies such as China and India will enable speedy expansion of the market in the region. According to the Indian ministry, the country generated approximately 1.45 lakh metric tonnes of waste per day, only 53 percent of waste was processed under the Swachh Bharat Mission (SBM), a flagship program of the Prime Minister. The growing emphasis on managing and treating solid waste will positively affect the market in India.
Competitive Landscape:
Emphasis on Increased Production Capacity by Major Companies to Consolidate Business
Various firms from across the world are progressively investing in organic and inorganic advancements in order to increase their worldwide market position. The majority of businesses focus on increasing their production capacity by adding new factories or expanding existing ones. Weltec Biopower, for example, established a biogas facility in Veria, Greece, in May 2020.
Key Development:
October 2019: Mazoon Dairy Company (MDC) inaugurated a biogas plant in Oman. The biogas plant is part of MDC’s strategy to utilize waste to generate energy and efficiently support waste management.
June 2020: Gasum inaugurated liquefied natural gas (LNG) and liquefied bio gas (LBG) filling station near Arlanda Airport in Stockholm. The station is Gasum’s first in the Stockholm area.
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Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Biogas Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Biogas Market Analysis (USD Billion) (Million Cubic Meter), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Feedstock
- Organic Residue & Wastes
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-
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- Biowaste, Municipal, Sewage
- Agricultural Waste
- Others
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-
-
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- Energy Crops
- Market Analysis, Insights and Forecast – By Application
- Electricity Generation
- Heating
- Combine Heat & Power
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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- North America Biogas Market Analysis (USD Billion) (Million Cubic Meter), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Feedstock
- Organic Residue & Wastes
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-
-
- Biowaste, Municipal, Sewage
- Agricultural Waste
- Others
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-
-
-
- Energy Crops
- Market Analysis, Insights and Forecast – By Application
- Electricity Generation
- Heating
- Combine Heat & Power
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
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- Europe Biogas Market Analysis (USD Billion) (Million Cubic Meter), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Feedstock
- Organic Residue & Wastes
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-
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- Biowaste, Municipal, Sewage
- Agricultural Waste
- Others
-
-
-
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- Energy Crops
- Market Analysis, Insights and Forecast – By Application
- Electricity Generation
- Heating
- Combine Heat & Power
- Others
- Market Analysis, Insights and Forecast – By Country
- Germany
- UK
- Italy
- France
- Spain
- Netherland
- Rest of Europe
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