Biomethane Market

Biomethane Market

Growth Factors of Biomethane Market

The biomethane size was valued at USD 6.32 billion in 2023, and the market is now projected to grow from 6.62 billion in 2024 to USD 9.73 billion by 2032, exhibiting a CAGR of 4.91% during the forecast period of 2024-2032.

The biomethane market experienced some challenges from COVID-19 mainly on the supply side due to disruption in value chain, reduced capabilities and closures due to imposed lockdowns. They include the reduction in the use of renewable energy occasioned by the decline in industrial output, which resulted in reduced investment in biogas plants. However, the crisis also intensified people’s focus on environmental concerns, which after the pandemic, increases the demand for renewable energy sources. Thus governments started realizing their projects for green recovery and promote the biomethane segment. Although the pandemic slow down the markets’ development initially, it has accelerated the transition towards renewable energy as a feasible option.

The current market development in biomethane demonstrates rise in emphasis on environmental concerns and energy self-sufficiency. More systematically, the improvement of the biomethane production efficiency is achieved by means of the rising investments in the modern and innovative technologies of the anaerobic digestion. Furthermore, the government polices and incentives are favoring the adoption of renewable gases to increase the market growth. Since biomethane has to be blended with the existing natural gas system, it makes it easier to adopt the technology; links to agricultural supply industry and energy companies to ensure efficient supplies of feedstock are established. Additionally, there is an increasing trend in the utilization of biomethane in transporting fuels the world over, thus creating a need for more efficient source of energy and clean energy. The above-mentioned factors are driving the biomethane market growth.

The biomethane market is essentially fueled by growing environmental awareness and the search for renewable energy sources. Public incentives and policies towards emission reduction result into investment in clean technologies which are renewable energy sources. Also, biomethane is a viable choice for satisfying the need for energy independency and stability than the fossil fuels. Improvements in technology of techniques of anaerobic digestion and purification increase the production and lessen the cost. In addition, the escalating trends in envelope and waste management that focus on the circular economy brings about actions that encourage the use of organic waste as a feedstock in biomethane production.

Comprehensive Analysis Biomethane Market

The biomethane market comprises feedstocks, such as organic residues and wastes, biowastes, municipal wastes, sewage wastes, and agricultural wastes, and energy crops. These different raw materials enable the generation of biomethane several ways with the two main techniques being digestion and gasification. Anaerobic digestion efficiently breaks the organic matters in an anaerobic environment and yields a gas which is majorly comprised of methane. However, gasification presents the solid biomass, with high temperatures and reduced amounts of oxygen and the ability to produce renewable gas.

Europe continues to lead the biomethane market share due to supportive government policies and measures for the consumption of renewable energy and more so strict climate change goals. Germany, Sweden, and the Netherlands are among the top destination with a high level of investment in biomethane through enterprises such as agriculture waste and biowaste for energy. The increasing emphasis on cutting greenhouse gas emissions along with the incentives and funding opportunities for green projects on the side of the European Union are also a clear indicator of high growth potential. Moreover, biomethane injection into the natural gas grid improves energy security and contributes to a circular economy specifying Europe’s place as a global biomethane leader.

Key players in this sector include EnviTec Biogas AG (Germany), Future Biogas Limited (U.K.), WELTEC BIOPOWER GMBH (Germany), AB Holding SpA (Italy), RENERGON International AG (Switzerland), PlanET Biogas Global GmbH (Germany), StormFisher (Canada), Quantum Green (India)

Thus, in 2023, the development of biomethane in transportation, as an effective source of renewable fuel took place. As the global economies shift to less carbon emission and to have quality air, many nations are embracing vehicles as well as infrastructure that gas from biomethane. Carbonisation of biogas to biomethane has advanced due to the creation of high purity biomethane for use in compressed natural gas (CNG) vehicles contributing to cleaner transport solutions. This trend is complemented by policies put in place by the governments in various countries towards the promotion of use of renewable sources of energy in the transport system with the objectives of making the transport more sustainable.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 4.91% from 2024 to 2032

Unit Volume (GWh) and Value (USD Billion)

Segmentation By Feedstock

• Organic Residue & Wastes
• Biowaste
• Municipal Waste
• Sewage Waste
• Agricultural Waste
• Others
• Energy Crops

By Application

• Automotive
• Power Generation
• Others

By Production Method

• Anaerobic Digestion
• Gasification

By Region

• North America (By Feedstock, By Application, By Production Method By Country)
• U.S. (By Application)
• Canada (By Application)
• Europe (By Feedstock, By Application, By Production Method, By Country)
• U.K. (By Application)
• Germany (By Application)
• France (By Application)
• Italy (By Application)
• Austria (By Application)
• Denmark (By Application)
• Netherlands (By Application)
• Rest of Europe (By Application)
• Asia Pacific (By Feedstock, By Application, By Production Method, By Country)
• China (By Application)
• India (By Application)
• Australia (By Application)
• Southeast Asia (By Application)
• Rest of Asia Pacific (By Application)
• Latin America (By Feedstock, By Application, By Production Method, By Country)
• Brazil (By Application)
• Mexico (By Application)
• Rest of Latin America (By Application)
• Middle East & Africa (By Feedstock, By Application, By Production Method, By Country)
• GCC (By Application)
• South Africa (By Application)
• Rest of Middle East & Africa (By Application)

Please Note: It will take 5-6 business days to complete the report upon order confirmation.