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Biogas Market To Display Noteworthy Growth With Revenue Of USD 87.85 Billion By 2030, Owing To The Rising Product Demand From Various Applications | Grand View Research, Inc.

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Biogas Market To Display Noteworthy Growth With Revenue Of USD 87.85 Billion By 2030, Owing To The Rising Product Demand From Various Applications | Grand View Research, Inc.

May 26
22:12 2022
Biogas Market To Display Noteworthy Growth With Revenue Of USD 87.85 Billion By 2030, Owing To The Rising Product Demand From Various Applications | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting.
According to a new report published by Grand View Research, the growing demand for the product in applications, such as cooking gas, electricity, vehicle fuel, heat, and others, is expected to have a positive impact on the industry growth over the forecast period.

Biogas Industry Overview

The global biogas market size was valued at USD 60.06 billion in 2021 and is expected to reach USD 87.85 billion by 2030, at a CAGR of 4.3% from 2022 to 2030.

The market is expected to witness growth on account of the rising product demand from various applications such as electricity, heat, vehicle fuel, upgraded biogas, and cooking gas. Shifting focus toward the use of renewable energy, particularly in the electric power sector, has significantly driven the demand for biogas in electricity applications. In addition, the increasing need to reduce dependency on fossil fuels is creating lucrative opportunities for biogas in vehicle fuel applications.

Gather more insights about the market drivers, restrains and growth of the Global Biogas market

The U.S. is one of the largest markets for biogas in North America in 2021 and is projected to grow at a significant CAGR in terms of value over the forecast period. The United States government has introduced several regulations to lessen its dependency on conventional fuels and meet the goal of zero carbon emissions. Significant factors that are influencing the biogas market growth such as favorable regulatory & political support, environmental support, customer support, and geopolitical support, agricultural and economic support.

 U.S. biogas market size, by application, 2020 - 2030 (Revenue, USD Billion)

The demand for biogas in North America is primarily driven by the U.S. The growing demand for the product in applications, such as cooking gas, electricity, vehicle fuel, heat, and others, is expected to have a positive impact on the industry growth over the forecast period. Major factors supporting the growth of the market include high demand for green fuels, stringent environmental regulations, and increased investment in the development of refineries.

The abrupt onset of the COVID-19 pandemic caused an industrial lockdown that brought all manufacturing activity to a grinding halt in most industries around the world. Hence, it has also impacted product demand in heat generation applications. Sluggish industrial activities have reduced the demand for heat consumption, thereby negatively affecting the demand for biogas.

Biogas Market Segmentation

Based on the Source Insights, the market is segmented into Municipal, Industrial and Agricultural

  • The municipal source segment led the market and accounted for 41.55% revenue share in 2021. The growing usage of Municipal Solid Waste (MSW) in the production of biogas to reduce landfills and the Greenhouse Gas (GHG) emissions is expected to support the demand in the market over the forecast period.
  • The industrial segment is expected to witness significant growth over the estimated period. The growing interest in finding effective means to obtain bio-products and biofuel from industrial food waste coupled with an increasing need for wastewater treatment in the industrial sector is expected to fuel the demand for biogas over the forecast period.

Based on the Application Insights, the market is segmented into Vehicle Fuel, Electricity, Heat, Upgraded Biogas and Cooking Gas.

  • The electricity application segment led the market and accounted for about 30% revenue share in 2020.
  • Upgrade biogas application is expected to grow significantly over the forecast period owing to the rising demand for biofuel in various end-use industries including automotive is expected to fuel the market demand.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

  • Europe was the dominant regional segment in 2021 and accounted for about 42% of the revenue share.
  • Companies across Europe are investing huge capital in the R&D of biogas production from existing sources and planning to increase the share of feedstock over the next few years, which will fuel the demand for biogas in the region. 

Browse through Grand View Research’s Renewable Energy Industry Related Reports

  • Carbon Dioxide MarketThe global carbon dioxide market size was valued at USD 3.68 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. Increasing utilization of Carbon Dioxide (CO2) for Enhanced Oil Recovery (EOR) and its surging usage in food & beverages and medical industries are anticipated to fuel the growth of the global market during the forecast period.
  • Hydrogen Generation MarketThe global hydrogen generation market size was valued at USD 129.85 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2022 to 2030. The global hydrogen generation market is likely to be driven by the demand for cleaner fuel, coupled with increasing governmental regulations for the desulphurization of petroleum products.

Market Share Insights:

  • March 2021: Eni SpA (BIT: ENI) has agreed to buy an Italian biogas company from FRI-EL Greenpower, a Gostner family holding, through its circular economy subsidiary Ecofuel. The acquisition must be approved by the relevant antitrust authorities before it can be completed.
  • June 2020: Repsol, which is a Spanish fuel company, announced the development of an industrial-scale biogas project.

Key Companies Profile:

The global market is highly competitive due to the presence of major companies across the regions.

Some prominent players in the global biogas market include:

  • Agrinz Technologies GmbH
  • Air Liquide
  • DMT International
  • Gasum Oy
  • HomeBiogas Inc
  • PlanET Biogas
  • Scandinavian Biogas Fuels International AB
  • Schmack Biogas Service
  • Total
  • Xebec Adsorption Inc

Order a free sample PDF of the Biogas Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/biogas-market

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