New York, United States , Aug. 20, 2024 (GLOBE NEWSWIRE) -- The Global Biogas Market Size is to Grow from USD 47.70 Billion in 2023 to USD 81.79 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.54% during the projected period.
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The breakdown of organic materials, such as food scraps and animal dung, yields biogas, an environmentally safe and renewable energy source. It consists mostly of methane (50-70%) and carbon dioxide (30-50%). It also includes trace amounts of hydrogen, hydrogen sulfide, nitrogen, ammonia, and other gases. Biogas is categorized as a renewable energy source since it is composed of organic materials such as agricultural waste, municipal solid waste, sewage, and food waste, all of which are continuously generated by natural processes. Furthermore, biogas production does not deplete limited resources, making it a sustainable and environmentally friendly energy source. The rising emphasis on sustainable and renewable energy sources, as well as the shift toward cleaner alternatives to traditional fossil fuels, would all contribute to the overall growth of the biogas business. The introduction of favorable government legislation, large-scale investments by varied enterprises around the world, and agreements to minimize greenhouse gas emissions would influence the business landscape. However, the high cost of biogas plant establishment can restrict the market growth.
Browse key industry insights spread across 269 pages with 110 Market data tables and figures & charts from the report on the "Global Biogas Market Size, Share, and COVID-19 Impact Analysis, By Feedstock (Organic Residue & Waste, Municipal & Sewage, Agricultural Waste, and Others), By Application (Electricity Generation, Heating, Combined Heat and Power, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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Organic residues and waste are expected to hold the largest market share during the projection period.
Based on feedstock, the biogas market is divided into organic residue & waste, municipal & sewage, agricultural waste, and others. Among these, organic residues and waste are expected to hold the largest market share during the projection period. Organic waste decomposes and produces methane. Methane is a powerful greenhouse gas that traps heat in the atmosphere more effectively than CO2. Organic waste can be collected and processed to generate biogas, a renewable energy source that minimizes greenhouse gas emissions. Organic leftovers, such as biological sludge, municipal solid waste, agricultural residues, animal farm waste, and others, are commonly used in biogas production. Anaerobic digestion of organic waste produces a diverse energy source, such as methane, which can be utilized to generate renewable heat and power while also helping to reduce greenhouse gas emissions and climate change.
The energy generation segment is expected to be the most dominant segment over the forecast period.
Based on application, the biogas market is classified into electricity generation, heating, combined heat and power, and others. Among these, the energy generation segment is expected to be the most dominant segment over the forecast period. Biogas is a significant source of electricity generation in the power sector, contributing to the world's clean energy transition goals. Biogas-powered energy generation is a well-known technology that is widely used around the world. CHP engines are widely used for electricity generation, heat recovery, and usage. Furthermore, developing regions such as Asia-Pacific, South America, and Africa are implementing plans and strategies to increase the use of biogas in their energy generation mix. For example, Ghana's new 400kW plant at Gyankobaa, Atwima Nwabiagya South Municipality, Ashanti, has begun operations. The 400-kilowatt production plant, known as the Hybrid-PV-Biogas-Pyrolysis-Plant, would convert 12 tonnes of waste into bio-fertilizer and energy per day, providing organic manure to local farmers.
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Europe is expected to hold the largest share of the biogas market over the forecast period
The expansion of the biogas sector in Europe is tied to technological breakthroughs and considerable refining industry investments. Furthermore, these companies intend to grow their proportion of feedstock in the next years. Government decarbonization initiatives are driving the growth of Italy's biogas industry. In several major countries, including Germany, Italy, and France, biogas expansion has been largely driven by the agricultural industry, and biogas is primarily used for heat and electricity production, whereas in Sweden, Switzerland, and Finland, the majority of production is based on municipal waste streams such as sewage and organic waste.
Asia-Pacific is predicted to grow at the fastest pace in the solar biogas market during the projected timeframe. This is linked to rapid industrial growth, growing consumer interest in biogas, and high project investment costs. Furthermore, China dominated the biogas market, while India's was the fastest-growing in Asia-Pacific. Developing economies, such as India and China, are enacting tough regulations to reduce their carbon footprint, which is a primary driver of biogas market growth. According to the Indian ministry, 1.45 lakh metric tons of waste are generated daily in India. Only 53% of garbage was managed under the Prime Minister's flagship program, the Swachh Bharat Mission. The center's mission is to achieve 100% scientific solid waste management and eliminate open defecation throughout the country.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the biogas market include Agraferm Technologies AG, BDI - Bioenergy International GmbH, Gasum Oy, PlanET Biogas Global GmbH, Xergi A/S, AB Holding SpA, ENGIE, IES Biogas, CH4 Biogas, Krieg & Fischer Ingenieure GmbH, Zorg Biogas AG, BIO-EN Power Inc., OKOBIT GmbH, Agrivert Ltd., EnviTec Biogas AG, MAKEEN Energy, Anaergia, Scandinavian Biogas Fuels International, Viessmann, Agrinz Technologies GmbH, WELTEC BIOPOWER, BTS-biogas, and Others.
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Recent Developments
- In May 2022, Enertech Fuel Solutions revealed plans to invest INR 600 crore in its compressed biogas (CBG) operations. The CBG industry will receive investment across India next year.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global biogas market based on the below-mentioned segments:
Global Biogas Market, By Feedstock
- Organic Residue & Waste
- Municipal & Sewage
- Agricultural Waste
- Others
Global Biogas Market, By Application
- Electricity Generation
- Heating
- Combined Heat and Power
- Others
Global Biogas Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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