Overview and Scope
Biogas refers to a form of biofuel that is created spontaneously when organic waste decomposes. Biogas generation is also known as anaerobic digestion since it occurs in the absence of oxygen. Biogas helps mitigate methane emissions while producing cleaner fuel for cooking, lighting, and electricity.
Sizing and Forecast
The biogas market size has grown strongly in recent years. It will grow from $76.05 billion in 2023 to $82.89 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to emerging markets growth, increased demand for clean energy sources, high environmental impact of conventional power generation sources, growing demand from the automotive and transportation sectors, and increasing fuel costs..
The biogas market size is expected to see strong growth in the next few years. It will grow to $110.03 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, the shift to alternative sources of power generation, increasing global awareness to reduce greenhouse gas emissions, and increasing research and development (r&d) activities. Major trends in the forecast period include focusing on liquified biogas, new investments, technological advancements, product innovations, strategic collaborations and partnerships, and facility expansions..
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Segmentation & Regional Insights
The biogas market covered in this report is segmented –
1) By Source: Municipal Waste, Industrial Waste, Agricultural Waste, Other Sources
2) By Application: Residential, Commercial, Industrial
3) By End-User: Power Generation, Heat Generation, Cogeneration, Other End-Users
Europe was the largest region in the biogas market in 2023. Asia-Pacific is expected to record the fastest growth over the forecast period. The regions covered in the biogas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing research and development activities will support the growth of the biogas market. Biofuels are fuels produced from hydrocarbon-rich living organisms (biomass) such as plants or microalgae by thermal, chemical or biochemical conversion processes. As with fuels, biofuels such as biodiesel, biogas and syngas are combusted to generate energy. The research and development activities include manufacturing, processing, testing, and inspecting the materials by using different types of technologies for better products. For example, in January 2023, the US Department of Energy (DOE) announced over $100 million in funding to expand US biofuels production, as the Biden administration works to cut greenhouse gas emissions from transportation and meet climate goals. The department plans to award $118 million to 17 projects designed to accelerate the production of biofuels, which can be made from biomass including agricultural waste, soybean oil and animal fats. The funds add to the more than $500 million the DOE has put into bioenergy and biorefinery research and development over the past two years. Therefore, the increasing research and development activities will drive the biogas market.
Key Industry Players
Major companies operating in the biogas market report are Engie SA, Air Liquide, EnviTec Biogas AG, Hitachi Zosen Corporation, Gasum Oy, Ameresco, Wartsila, Schmack Biogas GmbH, Future Biogas Limited, Weltec Biopower GmbH, Green Elephant India Private Limited, Spectrum Renewable Energy Pvt. Ltd., Atmos BioEnergy, Biogas Engineering India Pvt Ltd, Nikkiso Clean Energy & Industrial Gases Group, Aqua Society Co. Ltd., AAT Biogas Technology, Biogass Renewables Pty Ltd, Aquatec Maxcon, Cyy Bio Power Co. Ltd., K-BioPower Co. Ltd., New Energy Technology Co. Ltd., Mingshuo Environment Technology Group Co. Ltd., Hubei Kexin Environmental Energy Co. Ltd., Asia Biogas, Beijing Shenwu Environment & Energy Technology, TotalEnergies SE, Aerzener Maschinenfabrik GmbH, PlanET Biogas Group GmbH, Zorg Biogas GmbH, Evergaz, Veolia Environnement S.A., BTS Biogas Srl/GmbH, Biogas Systems Nord LLC, RosBio LLC, SIBIO LLC, BD Agro Renewables, Dynamic Biogas Development Sp. z o.o., Polish Biogas Group, DVO Inc., Greenlane Biogas, Nacelle, Paques Environmental Environmental Technologies Inc., Raven, Harp Renewables Limited, GranBio, CIBiogás, Ennox, Biomaster, Ecometano, Itaipu Biogas Plant, Masdar, Abu Dhabi National Oil Company, BEEAH Group, Bahwan Renewable Energy Company, ACWA Power, Neutral Fuels, Saudi Aramco, Bambino Bio Refinery Limited, HomeBiogas, Biogas Solutions, SAR Energy, Avenam Links Int`l Ltd.
The biogas market report table of contents includes:
1. Executive Summary
2. Biogas Market Characteristics
3. Biogas Market Trends And Strategies
4. Biogas Market – Macro Economic Scenario
5. Global Biogas Market Size and Growth
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32. Global Biogas Market Competitive Benchmarking
33. Global Biogas Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Biogas Market
35. Biogas Market Future Outlook and Potential Analysis
36. Appendix
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