Global Biogas Market to Grow at 4.7% During 2023-2028, Impelled by Increasing Demand for Renewable Energy Sources

August 23, 2022 | Energy & Mining

According to the latest report by IMARC Group, titled “Biogas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global biogas market is expected to grow at a CAGR of 4.7% during 2023-2028. Biogas is an environment-friendly, renewable energy source produced from decomposing organic matter, such as food, animal waste, crop residue, and sewage. It combines methane, carbon dioxide, and small quantities of nitrogen, hydrogen, oxygen, and hydrogen sulfide. It is produced by anaerobic decomposition and thermochemical conversion of biomass. Biogas is widely used in cooking, drying, cooling, and heating applications and for producing electricity, methanol, and steam. It is a cost-effective and easy-to-produce energy source that reduces atmospheric, soil, and water pollution by lowering methane levels and diverting food waste from landfills.

Global Biogas Market Trends:

The increasing demand for renewable energy due to rising environmental concerns is one of the key factors driving the growth of the market. Biogas is a clean energy source widely used for electricity generation, vehicle fuel, cooking gas, and heating. In addition, the increasing need to reduce fossil fuel dependency and carbon emissions is favoring the market growth. Furthermore, favorable policies by governments across the globe, coupled with rising investments by international organizations, such as the United Nations Development Programme (UNDP) and the Global Environment Facility (GEF) in biogas projects to achieve sustainability goals, are acting as other growth-inducing factors. Furthermore, the introduction of the methanation process that uses renewable hydrogen to increase the calorific value of biogas and convert it to higher fuel standards for the replacement of natural gas is providing an impetus to market growth. Other factors, including increasing utilization of biogas for electricity generation, heightened fuel consumption across the globe, extensive research and development (R&D) activities, and the rising production of biogas through waste treatment facilities, are supporting the market growth.

Market Summary:

On the basis of the feedstock, the market has been divided into livestock manure, sewage, food waste, crop residues, and energy crops.
Based on the application, the market has been categorized into electricity generation, biofuel production, and heat generation.
On the basis of the end use, the market has been classified into residential, commercial, and industrial.
On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others) Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the industry has also been examined, with some of the key players being Air Liquide S.A., Engie SA, EnviTec Biogas AG, Gasum Oy, Hitachi Zosen Inova AG (Hitachi Zosen Corporation), IES BIOGAS srl, PlanET Biogas Group GmbH, Scandinavian Biogas Fuels International AB, TotalEnergies SE, Wärtsilä Oyj Abp, WELTEC BIOPOWER GmbH and Xebec Adsorption Inc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Feedstock, Application, End Use, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Air Liquide S.A., Engie SA, EnviTec Biogas AG, Gasum Oy, Hitachi Zosen Inova AG (Hitachi Zosen Corporation), IES BIOGAS srl, PlanET Biogas Group GmbH, Scandinavian Biogas Fuels International AB, TotalEnergies SE, Wärtsilä Oyj Abp, WELTEC BIOPOWER GmbH and Xebec Adsorption Inc.
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Global Biogas Market to Grow at 4.7% During 2023-2028, Impelled by Increasing Demand for Renewable Energy Sources

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