Pune, India, April 11, 2022 (GLOBE NEWSWIRE) -- India’s Biogas market size was USD 1.40 billion in 2021. The market is projected to grow from USD 1.47 billion in 2022 to USD 2.25 billion in 2029 at a CAGR of 6.3% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report, titled, India Biogas Market, 2022-2029. Factors such as rising consumer awareness regarding environmental protection and increasing potential for renewable energy resources will boost the growth of the market during the forecast period. Additionally, an increasing number of sustainable alternatives will increase the footprint of the market.
List of Key Players Present in the Market
- GAIL (India)
- Wärtsilä (Finland)
- Clarke Energy (U.K)
- GPS Renewable (India)
- Primove Engineering Pvt Ltd. (India)
- Renergon International AG (Switzerland)
- Green Elephant Engineering Pvt Ltd (India)
- SLPP RE-NEW (India)
- SFC Umwelttechnik GmbH (Austria)
- Bharat Bio Gas Energy Ltd (India)
- Spectrum Renewable Energy Pvt. Ltd. (India)
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COVID-19 Impact
Disrupted Supply Chains & Delays in Ongoing Projects to Hamper Market Growth During Pandemic
The ongoing pandemic resulted in crippling the market of India biogas by the emergence of nationwide lockdowns to curb the spread of the virus. The increasing number of cases and causalities forced various government-enabled schemes to be pushed to a further date. The closure of these schemes is expected to affect the market in a negative manner. Additionally, a faltering supply chain and rising focus on improving healthcare infrastructure will further put a limit on the growth of the market.
REPORT SCOPE & SEGMENTATION:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022-2029 CAGR | 6.3% |
| 2029 Value Projection | USD 2.25 billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 1.40 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 86 |
| Market Segmentation | Feedstock, Application |
| Growth Drivers | Increasing Adoption of Renewable Owing to Environmental and Economic Advantages Drives Market Growth |
Waste Utilization for Energy Production Will Accelerate Biogas Market Forecast Growth |
Segments
Based on feedstock, the market can be divided into organic residue & waste and energy crops.
By application, the market can be broken down into heating, electricity generation, and transportation.
Report Coverage
The market report for India Biogas provides a detailed analysis by focusing on critical aspects including leading companies and leading feedstock and applications. Additionally, the report contains the ongoing trends and further highlights the most relevant industry developments. Also, factors that are expected to impact the market in a positive/negative manner are also mentioned in the report and elaborated.
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Drivers & Restraints
Rising Adoption of Renewable Sources & Increasing Waste Energy Utilization for Power Production to Bolster Growth
Factors such as the region being an existing breeding ground for biogas consumption and rising adoption of renewable resources will boost the India biogas market growth during the forecast period. Additionally, the rising installation of energy sources and increasing utilization regarding waste energy production will fuel the growth of the market. Also, rising interest aimed at increasing sustainable alternative solutions will increase the footprint of the market.
However, the high initial investment required for production will limit the growth of the market during the forecast period to a certain extent.
Regional Insights
Untapped Biogas Potential in India to Augment Market Growth During Forecast
India currently possesses a large potential for biogas utilization and application with states including Maharashtra, Gujarat, Karnataka, Uttar Pradesh, and Madhya Pradesh contributing the largest India biogas market share. Rising number of biogas plants in the region and increasing demand for electricity generation from materials including agriculture, agro-industrial, municipal & urban waste, poultry litter, and forestry among others. The government has further taken steps towards issuing certain concessions towards importing specialized machinery that will further extend the boundary of the market in the region.
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Competitive Landscape
Improved Production Capacities & Expanding Capabilities to Augment Players to Capture Larger Market Share
The sector of India biogas is extremely fragmented due to the inclusion of a number of regional & international players present. Prominent players in the market are focused on extending their production capacities by integrating larger plants or expanding their existing capabilities. For example, in July 2021, VERBIO announced singing an MOU with IndianOil for combined interests in biofuel projects and CBG facilities (BioCNG). This collaboration aims to integrate the “proof of concept” that VERBIO aimed by constructing its initial 33 tonnes per day CBG plant in Punjab. Other players are focused on employing strategic tactics including mergers & acquisitions and collaborations in order to capture a widened market share.
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Industry Development
October 2021: Ramky Enviro Engineers announced the completion of India’s largest landfill gas to CBG plant. This plant was located in Hyderabad integrated Municipal Solid Waste in Telangana.
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments - Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
Continued…
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