Press release
Major Industry Participants Reinforcing Their Presence in the Biogas Market
Biogas
Projected Biogas Market Size Expansion Through 2029
The biogas market is anticipated to grow substantially, reaching a valuation of $112.09 billion by 2029. This reflects a compound annual growth rate (CAGR) of 6.3% over the forecast period. Several factors are driving this expansion, including supportive government policies, rising global population and urbanization, a shift towards alternative energy sources, growing awareness about reducing greenhouse gas emissions, and intensified research and development efforts. Among the key trends expected to shape this market are the growing focus on liquified biogas, increased investments, technological breakthroughs, innovative products, strategic partnerships, and the expansion of production facilities.
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Primary Companies Leading the Biogas Industry
The biogas market features a range of prominent companies actively shaping its development. These 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, and Avenam Links Int'l Ltd.
Notably, in February 2023, Shell plc, a UK-based oil and gas giant, acquired Denmark's Nature Energy Biogas A/S for an undisclosed sum. This acquisition strengthens Shell's leadership in the renewable natural gas (RNG) sector by enhancing its integrated RNG operations globally. Shell's plan is to grow its portfolio of operating plants, feedstock supplies, and innovative RNG technologies. Nature Energy Biogas A/S specializes in producing biogas from agricultural, industrial, and household waste, providing sustainable alternatives to fossil fuels. This move aligns with Shell's Powering Progress strategy aimed at expanding profitable low-carbon energy solutions across different sectors.
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Technological Advancements Shaping the Biogas Industry
Biogas companies are prioritizing technology development to maintain and improve their market position. For example, in February 2023, Volvo Trucks from Sweden introduced upgraded gas-powered trucks capable of running on liquified biogas. The enhanced Volvo FH and FM truck models now feature 500 horsepower engines, increased from the previous 420 and 460 horsepower variants, respectively. These trucks also benefit from technological improvements that boost fuel efficiency by up to 4%. Additionally, the vehicles now include gas tanks that are 10% larger, extending their operational range significantly.
Market Segmentation and Forecasts in Global Biogas
This report segments the biogas market as follows:
By Source:
- Municipal Waste
- Industrial Waste
- Agricultural Waste
- Other Sources
By Application:
- Residential
- Commercial
- Industrial
By End-User:
- Power Generation
- Heat Generation
- Cogeneration
- Other End-Users
Further subcategories within sources include:
Municipal Waste broken down into food waste, yard waste, sewage sludge, and the organic fraction of municipal solid waste (OFMSW).
Industrial Waste includes food processing waste, dairy waste, brewery waste, and pharmaceutical waste.
Agricultural Waste covers crop residues such as straw and husks, animal manure from cattle, poultry, and swine, as well as agro-industrial by-products.
Other Sources encompass landfill gas, wastewater treatment plant effluent, and energy crops.
This detailed segmentation provides a comprehensive understanding of the biogas market's scope and potential across different sectors and feedstock types.
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