Biogas Market To Reach US$ 90.4 Billion By 2028

How Big is the Biogas Market ? :

IMARC Group's latest report, titled "Biogas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the global biogas market size reached US$ 68.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 90.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.

What is Biogas and Uses ? :

Biogas refers to an environment-friendly, renewable energy source produced from decomposing organic matter, such as animal waste, crop residue, food, and sewage. It combines carbon dioxide, methane, and small quantities of hydrogen, oxygen, nitrogen, and hydrogen sulfide. Biogas is produced by anaerobic decomposition and thermochemical conversion of biomass. It is widely used in drying, cooling, cooking, and heating applications and for manufacturing methanol, electricity, and steam.

In addition to this, biogas is a cost-effective and easy-to-produce energy source that reduces soil, atmospheric, and water pollution by lowering methane levels and diverting food waste from landfills. As a result, this energy source finds widespread applications across the commercial, industrial, and residential sectors across the globe.

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Who are the key Players Operating in the Industry ? :

• 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
• Xebec Adsorption Inc

What are the Growth Prospects and Trends in the Biogas Industry ? :

The rising awareness in individuals toward the harmful impact of air pollution and the depletion of fossil fuel resources are among the primary factors driving the biogas market. Besides this, various technological innovations and advancements, such as dendro liquid energy (DLE) and BioBang, are further augmenting the market growth. Moreover, the launch of several policies by the government bodies to increase the production of biogas to minimize the greenhouse gas emissions and carbon footprints is also catalyzing the global market. Apart from this, the growing popularity of small-scale digesters in rural areas for heating and cooking purposes, owing to their lower investment and infrastructure, is acting as another significant growth-inducing factor.

Additionally, the increasing need for clean energy sources in electricity generation, vehicle fuel, cooking gas, and heating applications is also stimulating the market growth. Furthermore, the introduction of the methanation process that uses renewable hydrogen to improve the calorific value of this source and convert it to higher power standards for the replacement of natural gas is expected to bolster the biogas market in the coming years.

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Key Market Segmentation:

Breakup by Feedstock:

• Livestock Manure
• Sewage
• Food Waste
• Crop Residues
• Energy Crops

Breakup by Application:

• Electricity Generation
• Biofuel Production
• Heat Generation

Breakup by End Use:

• Residential
• Commercial
• Industrial

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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