Biogas
Market: Introduction
Transparency
Market Research delivers key insights on the global biogas market. In terms of revenue, the global
biogas market is estimated to expand at a CAGR of 9% during the
forecast period, owing to numerous factors regarding which TMR offers thorough
insights and forecasts in its report on the global biogas market.
The
global biogas market has been positively impacted by the rise in demand for
biogas in power generation and automobile industries across the globe. Thus,
increase in demand for biogas in power generation and automobile industries is
propelling the global biogas market.
Biogas
Market: Dynamics
The
demand for biogas has been rising in automobile and power generation industries
over the past few years, as it provides green energy and high power density.
This is expected to boost the global biogas market. The number of countries
accepting the Paris Climate Change Agreement has been increasing significantly.
This agreement mandates countries to decrease their carbon footprint and
greenhouse gases by reducing their dependence on fossil fuels, which presents
significant potential for the adoption and implementation of biogas energy.
Europe has enacted stringent regulations to lower carbon and greenhouse gas
emission. This has boosted the consumption of biogas in the region.
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Investments
in the global biogas market have been rising significantly since the past few
years. According to the American Biogas Council, the U.S. offers vast potential
for the biogas industry. More than 14,900 new
sites have the potential to produce biogas in the country. Of these, 8,500 sites
are in the vicinity of dairy, poultry, and swine farms, while 3,878 are near
water resource recovery facilities.
Biogas
Market: Prominent Regions
In
terms of value, Europe dominated the global biogas market in 2019. The region is
expected to remain dominant during the forecast period, due to the presence of
favorable government policies and availability of infrastructure for biogas.
Europe also has the highest number of biogas plants in the world. According to
The European Biogas Association, the number of biogas plants in the region
increased from 483 in 2018 to 729 in 2020. Currently, 18
countries produce biogas in Europe. The number of biogas operational plants
stood at more than 18,000 in
Europe in 2019.
Germany accounted for more than 9,000 operational biogas plants in the year.
Thus, Germany is a leading country in terms of number of biogas plants in the
region as well as in the world.
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North
America is projected to be a lucrative region of the global biogas market
during the forecast period. This can be ascribed to the increase in awareness
about renewable energy in the region. The rise in usage of biogas in the
automobile industry is another key factor that is propelling the demand for
biogas in North America. The U.S. is the leading market for biogas in North
America. The U.S. has more than 2,200 biogas
producing sites. Canada is anticipated to be a lucrative country for biogas
during the forecast period, owing to the increase in awareness as well as high
adoption of green energy in the country.
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Asia
Pacific was a promising region in the global biogas market in 2019. Governments
of countries in the region have been promoting biogas for cooking purposes in
rural areas. For instance, the Government of India is providing subsidies and
free biogas household plants to produce biogas in rural areas. The Government
of China is promoting biogas for households in rural areas. The number of
biogas plants installed stood at more than 70,000 in China in 2019.
According to the International Energy Agency report 2020, there was
notable development in the biogas market in Asia Pacific, primarily in China,
India, and ASEAN countries. Awareness about the environment in countries such as
China, India, and those in ASEAN is expected to drive the biogas market in the
region during the forecast period.
Biogas
Market: Key Players
Major
players operating in the global biogas market are Air Liquide, Wärtsilä, Future
Biogas Limited, PlanET Biogas Global GmbH, WELTEC BIOPOWER GMBH, Scandinavian
Biogas Fuels International AB, EnviTec Biogas AG, Biofrigas Sweden AB,
Ameresco, and Quantum Green.
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