The global biogas market size is expected to grow from $64.14 billion in 2021 to $71.20 billion in 2022 at a compound annual growth rate (CAGR) of 11%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biogas market is expected to reach $94.66 billion in 2026 at a CAGR of 7.4%.
What is the Global Biogas Market?
The biogas market consists of sales of biogas by entities (organizations, sole traders, and partnerships) that are engaged in the production of biogas. Biogas is a form of biofuel that is created spontaneously when organic waste decomposes. Biogas generation is also known as anaerobic digestion since it occurs in the absence of oxygen. It can be used for a range of purposes including automotive fuel, cooking, and power generation.
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What drives the Global Biogas Market?
The rising shift towards renewable sources of energy is expected to propel the growth of the biogas market in the coming years. Renewable energy, often known as clean energy, is derived from natural sources or procedures that are renewed regularly. Biogas is also referred to as renewable natural gas produced by the breakdown of organic matter such as animal waste and food scraps. According to International Energy Agency (IEA) global energy review 2020, renewable energy is expected to be the fastest-growing energy source in the future. In comparison to Q1 2019, global renewable energy usage in all industries rose by around 1.5% in Q1 2020 and a 1% increase in the use of renewables in the end of 2020. Therefore, the shift toward renewable sources of energy drives the growth of the biogas market.
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Global Biogas Market Segments
The global biogas market is segmented:
By Source: Municipal Waste, Industrial Waste, Agricultural Waste, Others
By Application: Residential, Commercial, Industrial
By End-User: Power Generation, Heat Generation, Cogeneration, Others
By Geography: The regions covered in the biogas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Biogas Global Market Report 2022provides market size and growth forecasts for the global biogas market, global biogas market share, biogas market segments and geographies, biogas market competitive landscape including leading competitors’ revenues, profiles and market shares. The biogas market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Biogas Industry Playersinclude PlanET Biogas Global GmbH, Scandinavian Biogas, EnviTec Biogas AG, IES BIOGAS srl, Air Liquide, Weltec Biopower GmbH, Biofrigas Sweden AB, Ameresco Inc., Wartsila, Engie SA, Bio-En Power Inc., Swedish Biogas International, CH4 Biogas, SP Renewable Energy Sources Pvt. Ltd, Beijing Sanyi Green Energy Development Co. Ltd, Biofuel USA Corporation, Quadrogen, Viessmann, BTS-biogas, Agraferm, Gasum, Xergi A/S, Zorg Biogas, Future Biogas Limited, and AAT Biogas Technology. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
