Biogas Market size is set to grow by USD 32,723.22 million from 2022 to 2027, Increasing government support to develop biogas as fuel to boost the market - Technavio
NEW YORK, June 6, 2023 /PRNewswire/ -- The global biogas market size is estimated to grow by USD 32,723.22 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 10.18% during the forecast period. North Americais estimated to account for 35% of the global market growth. The regional biogas market is expected to exhibit moderate growth during the forecast period. Furthermore, the US will be the major contributor to the growth of the market. However, countries such as Mexico and Canada will account for significant growth in new biogas installations during the forecast period. Moreover, the regional market growth has been moderate over the past few years due to the increased adoption of alternative renewable energy sources, such as wind and solar, and the declining prices of natural gas. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
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Biogas Market - Segmentation Assessment Segment Overview Technavio has segmented the market based on application (co-generation, power generation, heat in buildings, and upgraded to biomethane), source (agricultural waste, landfill, and sewage sludge and others), and geography (North America, APAC, Europe, Middle East and Africa, and South America).
The market share growth by the co-generation segment will be significant for overall market growth during the forecast period. The segment is also known as combined heat and power (CHP) and these systems utilize biogas as a fuel to generate both electricity and heat, which can be used for various applications, including industrial processes, space heating, and cooling. Furthermore, it can be designed to operate on a range of biogas feedstocks, including agricultural waste, food waste, and sewage sludge, which allows cogeneration capabilities to be integrated into various industrial and agricultural processes. Moreover, these systems can be scaled up or down depending on the energy demands of the end-user's site. Thus, such factors drive segment growth during the forecast period.
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Biogas Market ? Market Dynamics Key factor driving market growth Increasing government support to develop biogas as fuel is a major factor that drives the growth of the global biogas market. The support is offered by implementing favorable policies and giving different subsidies and tax incentives for the development of biogas fuel. Since fossil fuels are depleting gradually, the growing need for renewable energy sources has driven governments to encourage biogas production.
For instance, organizations like the European Biogas Association (EBA) also run several campaigns, such as Biogas for You, to increase the awareness and adoption of biogas. This was developed as EBAs first communications campaign and aimed to improve the perception of biogas among people in Europe. Hence, such programs and incentives by governments across the world will encourage the development of biogas fuel production and drive the growth of the global biogas market during the forecast period.
Leading trends influencing the market
The use of biogas as piped gas is an emerging trend shaping the global biogas market growth. Biogas is a natural byproduct of anaerobic digestion or the bacterial fermentation of organic materials and can be used to produce power and/or heat or can be refined and upgraded to power natural gas vehicles. This process is known as bio-methanation, and this application of biogas is widely adopted across the world.
The use of biogas as a piped gas for other purposes, such as cooking and heating. It is also gaining traction in the market and costs relatively less than traditional cooking gas but offers the same characteristics. Thus, the environmental benefits of using biogas will further propel its use as an alternative to conventional fossil fuels. Hence, such trends fuel the market growth during the forecast period.
Major challenges hindering the market growth
The drawbacks associated with biogas production are major challenges hindering the growth of the global biogas market. Biogas production has been on a continuous rise in recent years. But, this renewable source of energy still faces several hurdles to growth, including the lack of technological advances, the presence of high amounts of impurities in the produced biogas, and its intermittency caused by changes in temperature.
Furthermore, biogas still faces a challenge with large-scale production, which is resulting in its low adoption in utility-level projects. It contains low amounts of methane, resulting in a lower yield of energy when compared with natural gas. Hence, such factors are hampering the growth of the market during the forecast period.
Insights on Market Drivers, trends, & Challenges, historic period (2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Biogas Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the biogas market between 2023 and 2027
Precise estimation of the size of the biogas market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the biogas market across North America, APAC, Europe, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of biogas market vendors
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Biogas Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 10.18%
Market growth 2023-2027
USD 32,723.22 million
YoY growth 2022-2023 (%)
North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution
North America at 35%
US, Canada, China, India, and Germany, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
AEV Energy GmbH, Agrinz Technologies GmbH, Air Liquide SA, Ameresco Inc., Biofrigas Sweden AB, ENGIE SA, EnviTec Biogas AG, Future Biogas Ltd., Hitachi Zosen Corp., MT Energy Service GmbH, PlanET Biogastechnik GmbH, Pressure Technologies Plc, Renergon International AG, Stormfisher Ltd., TotalEnergies SE, Wartsila Corp., WELTEC BIOPOWER GmbH, Xebec Adsorption Inc., AB Holding Spa, and BDI BioEnergy International GmbH
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
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Table of Contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Application
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Source
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global biogas market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on global biogas market 2017 - 2021 ($ million)
Exhibit 158: Renergon International AG - Product / Service
Exhibit 159: Renergon International AG - Key offerings
12.14 Stormfisher Ltd.
Exhibit 160: Stormfisher Ltd. - Overview
Exhibit 161: Stormfisher Ltd. - Product / Service
Exhibit 162: Stormfisher Ltd. - Key offerings
12.15 TotalEnergies SE
Exhibit 163: TotalEnergies SE - Overview
Exhibit 164: TotalEnergies SE - Business segments
Exhibit 165: TotalEnergies SE - Key news
Exhibit 166: TotalEnergies SE - Key offerings
Exhibit 167: TotalEnergies SE - Segment focus
12.16 Wartsila Corp.
Exhibit 168: Wartsila Corp. - Overview
Exhibit 169: Wartsila Corp. - Business segments
Exhibit 170: Wartsila Corp. - Key news
Exhibit 171: Wartsila Corp. - Key offerings
Exhibit 172: Wartsila Corp. - Segment focus
12.17 WELTEC BIOPOWER GmbH
Exhibit 173: WELTEC BIOPOWER GmbH - Overview
Exhibit 174: WELTEC BIOPOWER GmbH - Product / Service
Exhibit 175: WELTEC BIOPOWER GmbH - Key offerings
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 176: Inclusions checklist
Exhibit 177: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 178: Currency conversion rates for US$
13.4 Research methodology
Exhibit 179: Research methodology
Exhibit 180: Validation techniques employed for market sizing
Exhibit 181: Information sources
13.5 List of abbreviations
Exhibit 182: List of abbreviations
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