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Global Biogas Market: Significant Development of Biogas Infrastructure to Enhance Production, finds TMR

11-03-2016 02:53 PM CET | Energy & Environment

Press release from: TMR-Research Reports

Global Biogas Market: Significant Development of Biogas

The degree of competition in the global biogas market is high due to the presence of numerous companies with similar products and a slight difference in quality, states Transparency Market Research (TMR) in a new research report. Several players operating in the global biogas market are getting into strategic partnerships and have increased merger and acquisition activities to maintain a strong hold on the market. Leading players are carrying out long term contracts with buyers as well as suppliers. The exit barriers in the global biogas market are considerably high due to contract commitments and high initial investments. Some of the key companies operating in the market are Air Liquide Advanced Business and Technologies, Wartsila Corporation, Vanzetti Engineering S.r.l., Cryostar SAS, Gasrec Ltd., and Biofrigas Sweden AB.

In terms of volume, the global biogas market stood at 22,963.21 KTOE in 2015 and is projected to touch 39,845.58 KTOE by the end of 2023. The global biogas market is likely to witness a CAGR of 6.56% from 2015 to 2023. Electricity and heat emerged as the key application segment, in terms of consumption of biogas, with a share of 50.61% in 2014 and is likely to account for 52.05% by 2023. Biogas is used as a fuel in combustion engines, which are used to power electric generators for electricity production. The growing use of electricity produced through combined heat and power technique in electricity grids is further anticipated to boost the consumption of biogas over the forthcoming years.

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Europe to Witness Promising Growth Owing to Favorable Subsidy Schemes

Geographically, Europe emerged dominant in the global biogas market in 2014 and is likely to retain a leading position until 2023. It held a share of 62.65% in 2014 and is projected to account for 64.38% in 2023. According to a TMR analyst, “The biogas market in Europe is likely to grow at a significant rate owing to the favorable subsidization schemes implemented by governments of countries such as the Czech Republic, the U.K., Italy, and the Netherlands.” The simplification of approval procedures for the construction of biogas plants in France is further expected to aid the progress of the biogas market in Europe.

Shift of Consumers towards Renewable Energy Sources to Bolster Demand for Biogas

At present, maximum heat and power generation activities across the globe are carried out using fossil fuels such as coal, oil, and gas. Rising concerns regarding the depletion of crude oil reserves have paved way for the adoption of alternative sources of energy. As a result of this, governments of several countries have reduced the dependence on fossil fuels and are taking initiatives to promote the adoption of clean and renewable energy sources.

As biogas is an organic and renewable source of energy, its adoption assists in addressing environmental concerns to a certain extent. Furthermore, the ongoing infrastructural development for natural gas in several developed nations to meet the high demand for natural gas is projected to augment the growth of the global biogas market. Upgraded biogas with high methane content is equivalent to natural gas and is transported using natural gas pipelines. Biogas is being preferred as the most potential alternative for natural gas.

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High Cost of Installation and Initial Investment to Act as Hindrance for Market Growth

The cost of installation of equipment such as pumps, gas storage, reactors, and digesters in biogas plants can be prohibitively high. Furthermore, as compared to other sources of energy, the cost of power generation from biogas is significantly high. The cost of construction and operation of biogas plants is also not economically feasible and without government support, it is difficult to operate a biogas plant. As a result of this, the growth of the global biogas market is likely to be impeded over the forthcoming years.

This review is based on a Transparency Market Research report, titled, “Biogas Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015-2023.”

The biogas market has been segmented as follows:

Global Biogas Market: Application Analysis

Electricity & Heat
Vehicle Fuel

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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