Wilmington, Delaware, United States, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Demand in fastest growing markets for biogas has thrived on concerted efforts by governments and private players to support high capital investments required in installing biogas generation plants. Additionally, private firms are geared toward lowering the operational costs, particularly where waste-to-energy plants are used for conversion of municipal waste to energy, as recent developments in biogas market indicate. The biogas market is projected to expand at a CAGR of 9% during the forecast period of 2020-2030.
The future market demand for biogas will be driven by the enormous efforts made by governments to promote electricity generation using biogas in power generation plants. Furthermore, increasing trend of adoption for green fuels for automobile is expanding the horizon for firms in the global biogas market. Moreover, many leading players in biogas market are tapping into the vast potential from growing installation of biogas plants that treat agricultural and municipal bio-waste.
The TMR study authors found that safety and emission regulations of waste-to-energy plants have become stricter over the years. The trend has invigorated development and adoption of state-of-the-art biodigester technologies. Of note, the deployment of multi-gas measuring probes is becoming popular to enhance the processes of biomass conversion in terms of cost and efficiency.
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Key Findings
- Growing Private Sector Investment to Spur Prospects: Rise in private investments in setting up biogas plants in developed as well as developing economies is boosting the market. Consistent push by policymakers in several countries toward reducing reliance on fossil fuels has reinforced the growth opportunities for players in the global biogas market.
- Rising Adoption as Vehicle Fuel and Application in Power Generation Creates Massive Opportunities: Growing demand for biogas as a vehicle fuel will generate substantial revenue streams. The application is replete with opportunities on the back of accelerating adoption eco-friendly vehicle fuels, globally. Additionally, substantial demand for biogas for generating heat and electricity for commercial use in cogeneration plants has generated sizable revenues in biogas market.
- Remote Monitoring Systems Gathering Traction for Small Scale Bio-digesters: The demand for systems that optimize the operations of biogas plants has led to the commercialization of remote monitoring systems especially for small-scale biodigesters. This has helped operators to identify faults in machinery in advance.
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Biogas Market: Key Drivers
- Global initiatives to reduce greenhouse gas emissions of the transportation sector is a key driver of the biogas market. Worldwide, the sector is leaning on adopting sustainable practices, thereby accelerating the development of biogas production technologies.
- Stringent implementation of regulations pertaining to proper disposal of waste has broadly pivoted development of waste-to-energy plants for recycling of organic materials. A large part of the biogas product holds high potential for use in power generation.
Biogas Market: Regional Growth Dynamics
Africa and India hold enormous lucrative opportunities for players in the biogas market. Indigenous firms in these regions are leaning on strengthening their value chain, supports largely by venture capitalists. East Africa and South Africa are expected to generate substantial revenue streams to companies in the biogas market.
The expansion of these regional market is fueled by rise in numbers of domestic biodigester installations. Stridently, installation of pay-per-unit metering systems for residential users especially in East Africa is steering lucrative avenues for market players to tap into.
Key Players
The study offers a detailed assessment of the competition landscape including strategies implemented by leading players, their key financials, and recent investment plans.
Some of the key companies in the biogas market are WELTEC BIOPOWER GmbH, Ameresco, Biofrigas Sweden AB, EnviTec Biogas AG, PlanET Biogas Global GmbH, Future Biogas Limited, Wärtsilä, and Air Liquide.
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Biogas Market Segmentation
Source
- Municipal Waste
- Animal Waste
- Agricultural Waste
- Others (including Waste from Food, Wood, Paper, and Cardboard
End Use
- Power Generation
- Cogeneration
- Heat
- Others (including Fuel in Vehicles)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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