Dublin, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The "Biomethane Market by Feedstock (Energy Crops, Agriculture Residues & Animal Manure, Municipal Waste), Production Process (Anaerobic Digestion, Thermal Gasification), End-use (Transportation, Power Generation, Industrial) Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global biomethane market is estimated to grow from USD 10.3 Billion in 2023 to USD 60.2 Billion by 2030; it is expected to record a CAGR of 28.7% during the forecast period. Increase in the energy demand for in-house electricity generation from industrial sector which drives the biomethane market.
Municipal Waste: The largest segment of the biomethane market, by feedstock
Based on feedstock, Municipal waste stands as the predominant feedstock in the biomethane market, representing the largest segment. This is attributed to the increasing recognition of municipal waste as a valuable resource for biomethane production. As municipalities worldwide strive for sustainable waste management practices, anaerobic digestion of organic components in municipal waste emerges as a key method for biomethane generation. Governments and waste management authorities are increasingly investing in facilities that convert organic waste into biomethane, aligning with circular economy principles. The versatility and abundance of municipal waste make it a crucial feedstock, underscoring its pivotal role in driving the growth of the biomethane market.
Transportation segment is expected to emerge as the second-largest segment based on end-use application
By end-use application, The transportation segment is poised to become the second-largest segment in the biomethane market based on end-use applications. This growth is driven by the increasing adoption of biomethane as a sustainable and low-carbon alternative in the transportation sector. As concerns about greenhouse gas emissions and environmental sustainability escalate, biomethane presents itself as a viable solution, particularly for heavy-duty vehicles such as buses, trucks, and even ships. The transportation industry's shift towards cleaner fuel options, coupled with advancements in biomethane production technologies and the establishment of refueling infrastructure, is fostering a significant uptick in biomethane utilization as a vehicle fuel. Government incentives and regulations promoting the use of renewable fuels further contribute to the anticipated expansion of biomethane in transportation, positioning it as a key player in the global effort to reduce carbon emissions in the mobility sector.
By production process, the anaerobic digestion & fermentation segment is expected to be the fastest growing market during the forecast period.
The anaerobic digestion and fermentation segment is poised to be the fastest-growing market within the biomethane sector during the forecast period. This accelerated growth can be attributed to the increasing recognition of anaerobic digestion and fermentation as efficient and sustainable methods for biomethane production. These processes involve the breakdown of organic materials, such as agricultural residues, municipal solid waste, and wastewater, by microorganisms in the absence of oxygen, resulting in the generation of biogas that can be upgraded to biomethane. The appeal of these production methods lies in their ability to convert various organic feedstocks into a renewable energy resource, aligning with circular economy principles and contributing to waste reduction. With governments worldwide promoting sustainable waste management practices and renewable energy initiatives, the anaerobic digestion and fermentation segment is positioned to experience robust growth, driven by its eco-friendly approach and versatility in utilizing diverse organic materials for biomethane production.
Market Dynamics
Drivers
- Strong Focus on Achieving Sustainable Waste Management and Renewable Energy Targets
- Increased Use of Biomethane as Alternative to Conventional Fossil Fuels with Constant Technological Advancements
Restraints
- Requirement for High Initial Investments and Lack of Infrastructure and Standardized Regulatory Policies, Coupled with Intense Competition
- High Production Cost and Inadequate Infrastructure for Long-Distance Transportation of Biomethane
Opportunities
- Increased Focus on Waste-To-Energy Projects to Reduce Environmental Impact
- Incorporation of Diverse Feedstocks in Biomethane Production
Challenges
- Fluctuations in Supply of Feedstock and Time-Consuming Regulatory Approval Process
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 231 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $10.3 Billion |
| Forecasted Market Value (USD) by 2030 | $60.2 Billion |
| Compound Annual Growth Rate | 28.7% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Biomethane Market Snapshot
- Europe Dominated Biomethane Market in 2022
- Power Generation Segment to Account for Largest Market Share in 2030
- Anaerobic Digestion & Fermentation Segment to Dominate Biomethane Market in 2030
- Agricultural Residues & Animal Manure Segment to Lead Biomethane Market in 2030
Premium Insights
- Attractive Opportunities for Players in Biomethane Market - Rising Demand for Renewable Energy Sources and Reduction in Greenhouse Gas Emissions to Drive Biomethane Market During Forecast Period
- Asia-Pacific Biomethane Market, by Feedstock and Country, 2022 - Agricultural Residues & Animal Manure Segment and China Accounted for Largest Shares of Biomethane Market in Asia-Pacific in 2022
- Biomethane Market, by Production Process - Anaerobic Digestion & Fermentation Segment to Account for Largest Market Share in 2030
- Biomethane Market, by Feedstock - Agricultural Residues & Animal Manure Segment to Hold Largest Market Share in 2030
- Biomethane Market, by End Use Application - Power Generation Segment to Dominate Market in 2030
- Biomethane Market, by Region - Asia-Pacific Market to Exhibit Highest CAGR During Forecast Period
Case Study Analysis
- Envirogas RNG Project Transforms Methane Emissions into Renewable Energy for Sustainable Future
- Nature Energy Biogas A/S' Sustainable Practices Contribute to Circular Economy Through Waste Management
- Linde's Strategic Partnerships and R&D Investments Help Overcome Elevated Biomethane Production Costs and Enhance Distribution Infrastructure
Companies Mentioned
- Nature Energy
- Gasum
- Air Liquide
- Archaea Energy
- Opal Fuels
- Envitec Biogas
- Future Biogas
- Verbio Vereinigte Bioenergie
- Totalenergies
- Kinder Morgan
- Terega
- E.On
- Engie
- Chevron
- Waga Energy
- Bright Renewables
- Greenlane Renewables
- Veolia
- Anaergia
- Nexus Bioenergy
For more information about this report visit https://www.researchandmarkets.com/r/rd54vn
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