Biogas Market Size to Hit $37.02 Billion by 2028 | exhibiting a CAGR of 5.4%

The global biogas market size was valued at USD 24.03 billion in 2020 and is projected to reach USD 37.02 billion by 2028. The global market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.4% over the forecast period 2021-2028.

Pune, India, Nov. 30, 2023 (GLOBE NEWSWIRE) — The global biogas market size was valued at USD 24.03 billion in 2020 and is projected to reach USD 37.02 billion by 2028. The global market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.4% over the forecast period 2021-2028. This vital information is presented by Fortune Business Insights™, in its report titled, “Biogas Market, 2021-2028.” The market is set to gain traction from rising global focus on clean energy alternatives, increasing adoption of circular economy principles, and advancements in anaerobic digestion technologies. Government incentives, expanding applications in diverse sectors, and heightened environmental awareness contribute to the market’s momentum and widespread acceptance as a sustainable energy source.

Biogas is a renewable fuel obtained from raw materials such as inexperienced waste, agricultural waste, sewage, municipal waste, manure, and others. It is burnt in the presence of oxygen and is utilized for heating, transportation, cooking, electricity generation, and others. Furthermore, robust investments in renewable energy are expected to boost product demand, thereby fostering industry development. Additionally, the rising demand for eco-friendly fuels is expected to bolster market development. These factors may propel industry growth during the upcoming years.

Industry Developments:

March 2021: FortisBC Energy and Metro Vancouver entered a collaboration to achieve British Columbia’s action goals (BC). The company launched its new facility at a wastewater treatment plant (WWTP) in the region.

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/sample/biogas-market-100910

Market Drivers and Restraints:

Strong Demand for Upgraded Gasses to Fuel Industry Growth

Rising population and increasing vehicle demand lead to the shortage of fossil fuels. Rising waste generation leads to the adoption of effective solutions such as converting waste into fuels. Further, rapid urbanization facilitates the product demand from manufacturers. Also, the rising investments into waste management and disposal are expected to boost natural gas adoption. Moreover, increasing pollution leads to the adoption of eco-friendly gasses. In addition, the rising demand for upgraded gasses may bolster the biogas market growth.

However, strong monetary investment for gas installation and the emergence of the electric vehicle may hinder the market’s progress.

COVID-19 Impact

Declining Bioenergy Projects to Foster Industry Development

This market is expected to be negatively affected during the COVID-19 pandemic because of declining bioenergy projects. The sudden spike in COVID infections leads to stringent emission norms, thereby restricting manufacturing and industrial activities. The shutdown of facilities resulted in the decline of bioenergy projects. Furthermore, the shortage of components, workforce and raw materials impede the market’s progress. However, the adoption of reduced capacities, automated production machinery, and part-time shifts may enable manufacturers to balance costs. This factor may propel the market during the pandemic.

Click here to get the short-term and long-term impact of COVID-19 on this market. Please visit: https://www.fortunebusinessinsights.com/industry-reports/biogas-market-100910

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

Biogas Market Segmentation:

By feedstock, the market is bifurcated into organic residues & wastes. Based on application, it is classified into combined heat & power (CHP), heating, electricity generation, and others. Geographically, it is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Regional Insights:

Opening of Novel Production Facilities to Bolster Market Growth in Europe

Europe is projected to dominate the biogas market share because of the opening of several production facilities. The market in Europe stood at USD 22.29 billion in 2021 and is expected to gain a huge portion of the global market share. Furthermore, the rising production of gas is expected to foster industry growth. For example, as per the information provided by the Europe Biogas Association (EBA), gas production touched 200 TWh in 2021.

In Asia Pacific, strong regulations for lowering carbon emissions are expected to boost market development. As per the Indian ministry, Urban India generates nearly 0.15 million tonnes of municipal solid waste every day. These factors may facilitate market development.

In North America, heat and electricity generation from bio-based sources increases rapidly. In the U.S., more than 2200 operational plants are expected to boost the adoption of the product. These factors may propel market development.

Quick Buy – Biogas Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100910

Competitive Landscape:

Manufacturers Combine Production Facilities to Reinforce Market Position

Prominent companies operating in the market combine production facilities to enhance productivity and reinforce the market position. For example, Ductor constructed three biofertilizer facilities in Northern Poland in April 2020. It will be set up in Zachodniopomorskie, and two new plants that possess an installed capacity of 0.5MW and the third facility shall have over 1MW installation capacity. This development shall allow the company to boost its market position. Furthermore, adopting research and development, mergers, acquisitions, partnerships, and automated production techniques may enable companies to boost their annual revenues and attract consumers.

A List of Key Manufacturers Operating in the Global Market:

• Future Biogas Limited (U.K.)
• Air Liquide (France)
• PlanET Biogas Global GmbH (Germany)
• WELTEC BIOPOWER GmbH (Germany)
• Scandinavian Biogas Fuels International AB (Sweden)
• EnviTec Biogas AG (Germany)
• Ameresco (U.S.)
• Quantum Green (India)
• AB HOLDING SPA (Italy)
• RENERGON International AG (Switzerland)
• StormFisher (Canada)

Biogas Market Segmentation:

By Feedstock:

• Organic Residue & Wastes
• Energy Crops

By Application:

• Electricity Generation
• Heating
• Combine Heat & Power (CHP)
• Others

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/biogas-market-100910

Table of Content:

1.       Introduction

1.1.    Research Scope

1.2.    Market Segmentation

1.3.    Research Methodology

1.4.    Definitions and Assumptions

2.       Executive Summary

3.       Market Dynamics

3.1.    Market Drivers

3.2.    Market Restraints

3.3.    Market Opportunities

4.       Key Insights

4.1.    Key Emerging Trends – For Major Countries

4.2.    Latest Technological Advancement

4.3.    Regulatory Landscape

4.4.    Porters Five Forces Analysis

5.       Qualitative Analysis – Impact of COVID-19

5.1.    Impact of COVID-19 on the Biogas Market

5.2.    Steps Taken by the Government to Overcome the Impact

5.3.    Key Developments in the Industry in Response to COVID-19

5.4.    Potential Opportunities and Challenges due to COVID-19 Outbreak

6.       Global Biogas Market Analysis (USD Billion) (Million Cubic Meter), Insights and Forecast, 2018-2029

6.1.    Key Findings / Summary

6.2.    Market Analysis, Insights and Forecast – By Feedstock

6.2.1. Organic Residue & Wastes

6.2.1.1.              Biowaste, Municipal, Sewage

6.2.1.2.              Agricultural Waste

6.2.1.3.              Others

6.2.2. Energy Crops

6.3.    Market Analysis, Insights and Forecast – By Application

6.3.1. Electricity Generation

6.3.2. Heating

6.3.3. Combine Heat & Power

6.3.4. Others

6.4.    Market Analysis, Insights and Forecast – By Region

6.4.1. North America

6.4.2. Europe

6.4.3. Asia Pacific

6.4.4. Latin America

6.4.5. Middle East & Africa

Continued…

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/biogas-market-100910

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com