Wilmington, Delaware, United States, Transparency Market Research Inc. -, Oct. 23, 2024 (GLOBE NEWSWIRE) -- The Europe biomethane market (유럽 바이오메탄 시장) was valued at over US$ 2.3 billion in 2021. The industry is expected to expand at a CAGR of 7.7% from 2022 to 2031. The Europe biomethane market is expected to reach US$ 4.8 billion by 2031.
Local production of biomethane opens up the possibility of decentralized energy production. This can help promote energy self-sufficiency and lessen the need for long-distance energy transfer, especially in rural areas with abundant organic waste.
Countries worldwide have set high renewable energy targets to address climate change and reduce greenhouse gas emissions. Biomethane, created from organic waste sources, addresses these objectives and is, therefore, a feasible solution to satisfy renewable energy targets.
Biomethane, a domestic renewable energy source, enhances energy security by varying the sources of energy generation. It also improves energy resilience by lowering reliance on imported fossil fuels.
Anaerobic digestion and gasification are two methods of producing more efficient and less expensive biomethane. With the advancement of technology, both methods have become more efficient and less expensive. Technological advancements in transportation and storage also support the expansion of the business.
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Key Findings of the Market Report
- In 2020, renewable energies dominated the EU's primary energy production, with about 40.8% of the total share.
- The agricultural waste sector accounted for 32.6% of the biomethane market in 2021.
- The power generation segment is expected to experience a notable CAGR of 7.4% over the forecast period.
- Germany dominated the biomethane market in Europe with a 39.20% share.
- The United Kingdom was the leading supplier of biomethane in 2021, with 16.1% market share.
Europe Biomethane Market: Growth Drivers
- Laws and policies aimed at lowering carbon emissions and promoting cleaner energy sources encourage the use of biomethane. Governments offer financial aid, subsidies, and regulatory frameworks to encourage biomethane production and use.
- Utilizing organic waste, such as food scraps, wastewater, and agricultural waste, is a common step in generating biomethane. Incorporating biomethane into circular economy projects aids waste management, landfill reduction, and the development of an organic material closed-loop system.
- Introducing biomethane into current natural gas networks without requiring major changes is feasible. Biomethane's versatility makes it easier to incorporate it into the current energy system, making it more accessible and attractive to a wider range of consumers.
- A rising need for sustainable energy alternatives results from growing knowledge of the negative environmental effects of conventional energy sources. Biomethane is being embraced by businesses and sectors more frequently as a component of their corporate social responsibility (CSR) and sustainability programs.
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Europe Biomethane Market: Regional Landscape
- The market for biomethane is predicted to see significant growth in demand from Europe. The European Union (EU) has set high targets for renewable energy to tackle climate change. Under the Renewable Energy Directive and other legislation, biomethane production and use are encouraged as a low-carbon, renewable energy source.
- Green gas certification programs have been established in several European nations to ensure the traceability and sustainability of biomethane. In addition to making the market more transparent, these certification programs foster customer confidence and ensure compliance with environmental regulations.
- European governments encourage the development of biomethane projects using feed-in tariffs, subsidies, and financial incentives. These financial incentives are essential for drawing in capital and encouraging the growth of biomethane-producing facilities.
- The creation of biomethane from organic waste streams is becoming more popular in Europe due to the region's emphasis on waste management and the circular economy. Circular economy concepts are aligned with using food waste, agricultural wastes, and other organic resources for biomethane generation.
Europe Biomethane Market: Competitive Landscape
Manufacturers and suppliers control the majority of the biomethane market share on a small and large scale in Europe. Most companies focus on developing and prioritizing eco-friendly energy sources and adopting new technologies and strategies.
Among the key strategies adopted by major players are product diversification and mergers and acquisitions. Some prominent biomethane market players operating within Europe are as follows:
- EnviTech Biogas AG
- PlanET Biogas Global GmbH
- Gasrec Ltd.
- SGN
- Future Biogas Limited
- VERBIO
- Gazasia Ltd
- Biogas Products Ltd.
- Schmack Carbotech GmbH
- ETW ENERGIETECHNIK GMBH
- ORBITAL
- J V Energen
Key Developments
- In May 2023, German biofuel manufacturer Verbio merged with South Bend Ethanol to create the world's largest ethanol producer from corn. South Bend expanded its ethanol plant for US$ 230 million from the German biofuel company.
- This plant makes 250,000 tonnes of ethanol a year (TPA). The plant is expected to produce 850,000MWh of biomethane by 2026 after the completion of investments. Verbio expects to be eligible to take advantage of the provisions of the 2022 Inflation Reduction Act (IRA).
Europe Biomethane Market: Segmentation
Feedstock
- Organic Household Waste
- Animal Manure
- Energy Crops
- Agricultural Waste
- Sewage Sludge
- Industrial Food Processing Waste
- Others
Application
- Transport
- Power Generation
- Heat Generation
Production Methodology
- Fermentation
- Gasification
Country
- Germany
- U.K.
- France
- Sweden
- Italy
- The Netherlands
- Rest of Europe
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