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Biogas: Core Growth Enabler in the Rising Research And Development Initiatives Propel Growth In The Biogas Market Market, 2025
Biogas
What Will the Biogas Industry Market Size Be by 2025?
In recent times, the size of the biogas market has seen substantial growth. Its market value is projected to rise from $82.1 billion in 2024 to around $87.66 billion by the year 2025, with a compound annual growth rate (CAGR) of about 6.8%. The increase during the historical period can be accredited to the growth of emerging markets, a surge in demand for energy sources that are eco-friendly, the significant environmental impact of traditional energy generation sources, enhanced demand from sectors like automotive and transportation, as well as increasing costs of fuel.
What's the Long-Term Growth Forecast for the Biogas Market Size Through 2029?
The growth of the biogas market size looks promising in the forthcoming years, reaching $112.09 billion in 2029 with a compound annual growth rate (CAGR) of 6.3%. This projected expansion during the forecast period can be credited to several factors such as governmental backing, the rise in worldwide population and urbanization, the move towards alternate power generation sources, heightened global consciousness towards limiting greenhouse gas emissions, and escalated research and development (R&D) efforts. Key trends that will be prevalent in the forecast period span from a focus on liquefied biogas and fresh investments to technological progress, product renovations, strategic alliances and partnerships, as well as facility enlargements.
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What Are the Key Growth Drivers Fueling the Biogas Market Expansion?
The growth of the biogas market is expected to be bolstered by escalating research and development efforts. Biofuels, energy sources derived from biomass including plants or microalgae through thermal, chemical, or biochemical conversion methods, produce combustible fuels like biogas, syngas, and biodiesel to generate power. These research and development tasks cover manufacturing, processing, inspecting, and testing materials using a variety of technologies, aiming for improved products. For instance, in January 2023, the US Department of Energy (DOE) disclosed that over $100 million would be set aside to enhance US biofuel production, aligning with the Biden administration's strategy to curb greenhouse gas emissions in the transport sector and achieve climate targets. The plan is to allocate $118 million among 17 projects to fast-track the production of biofuels from biomass such as agricultural waste, soybean oil, and animal fats. This funding supplements the DOE's investment exceeding $500 million in bioenergy and biorefinery research and development in the previous two years. Therefore, heightened research and development work is projected to fuel the growth of the biogas market.
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What Are the Key Trends Driving Biogas Market Growth?
Businesses in the biogas sector are prioritizing technological progress in an effort to solidify their market standing. For instance, in February 2023, Volvo Trucks, a truck manufacturer based in Sweden, introduced a more robust gas-powered truck that operates on liquefied biogas. The Volvo FH (Forward control High entry) and FM (Forward control Medium height cab) gas-powered trucks are now equipped with an additional 500 horsepower on top of their existing 420 and 460 horsepower engines. With noteworthy advancements in technology, the fuel efficiency of these gas engines has increased by up to 4%. Accompanied by a new, 10% larger gas tank, this has resulted in an extended driving range.
How Is the Biogas Market Segmented?
The biogasmarket covered in this report is segmented -
1) By Source: Municipal Waste, Industrial Waste, Agricultural Waste, Other Sources
2) By Application: Residential, Commercial, Industrial
3) By End-User: Power Generation, Heat Generation, Cogeneration, Other End-Users
Sebsegments:
1) By Municipal Waste: Food Waste, Yard Waste, Sewage Sludge, Organic Fraction Of Municipal Solid Waste (OFMSW)
2) By Industrial Waste: Food Processing Waste, Dairy Waste, Brewery Waste, Pharmaceutical Waste
3) By Agricultural Waste: Crop Residues (Straw, Husks), Animal Manure (Cattle, Poultry, Swine), Agro-Industrial By-Products
4) By Other Sources: Landfill Gas, Wastewater Treatment Plant Effluent, Energy Crops
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Which Companies Are Leading the Charge in Biogas Market Innovation?
Major companies operating in the biogas market include Engie SA, Air Liquide, EnviTec Biogas AG, Hitachi Zosen Corporation, Gasum Oy, Ameresco, Wartsila, Schmack Biogas GmbH, Future Biogas Limited, Weltec Biopower GmbH, Green Elephant India Private Limited, Spectrum Renewable Energy Pvt. Ltd., Atmos BioEnergy, Biogas Engineering India Pvt Ltd, Nikkiso Clean Energy & Industrial Gases Group, Aqua Society Co. Ltd., AAT Biogas Technology, Biogass Renewables Pty Ltd, Aquatec Maxcon, Cyy Bio Power Co. Ltd., K-BioPower Co. Ltd., New Energy Technology Co. Ltd., Mingshuo Environment Technology Group Co. Ltd., Hubei Kexin Environmental Energy Co. Ltd., Asia Biogas, Beijing Shenwu Environment & Energy Technology, TotalEnergies SE, Aerzener Maschinenfabrik GmbH, PlanET Biogas Group GmbH, Zorg Biogas GmbH, Evergaz, Veolia Environnement S.A., BTS Biogas Srl/GmbH, Biogas Systems Nord LLC, RosBio LLC, SIBIO LLC, BD Agro Renewables, Dynamic Biogas Development Sp. z o.o., Polish Biogas Group, DVO Inc., Greenlane Biogas, Nacelle, Paques Environmental Environmental Technologies Inc., Raven, Harp Renewables Limited, GranBio, CIBiogás, Ennox, Biomaster, Ecometano, Itaipu Biogas Plant, Masdar, Abu Dhabi National Oil Company, BEEAH Group, Bahwan Renewable Energy Company, ACWA Power, Neutral Fuels, Saudi Aramco, Bambino Bio Refinery Limited, HomeBiogas, Biogas Solutions, SAR Energy, Avenam Links Int`l Ltd.
Which Regions Are Leading the Global Biogas Market in Revenue?
Europe was the largest region in the biogas market in 2024. Asia-Pacific is expected to record the fastest growth over the forecast period. The regions covered in the biogas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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