Biogas Plant Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Biogas Plant Market grew at a CAGR of 8.1% between 2017-2021 and is estimated to be US$ 3,946.7Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 8.8% and is expected to reach a valuation of US$ 9,173.2Mn by 2032 end.
Manure, trash, and other organic feedstock are used in biogas production in a biogas plant. Biogas production is crucial for producing sustainable energy and reducing reliance on fossil fuels. Since biogas is an environmentally beneficial and clean energy source, developed and emerging nations are increasingly adopting it as a renewable energy source.
The majority of the world’s installed biogas power generation capacity—more than 19 GW—is located in Germany, the United States, and the United Kingdom, according to the International Energy Agency (IEA).
INCREASING ADOPTION OF RENEWABLES TO DRIVE MARKET
One of the key drivers propelling construction globally is the increasing use of renewable energy sources in different nations’ overall power mixes. The main goals of governing authorities in countries worldwide have been to reduce greenhouse gas (GHG) emissions and fulfill rising energy demands. The installation of renewable energy sources is anticipated to increase significantly over the next ten years to meet these goals, ultimately resulting in the market’s growth.
HIGH INITIAL INVESTMENTS FOR ESTABLISHING PLANTS MAY HINDER MARKET GROWTH
The amount of money needed to determine construction expenses is very significant. A plant’s construction costs cover labor, land, materials, engineering, and equipment. The building of these plants receives financial support from numerous nations worldwide. The supply chain is also expensive and time-consuming because it involves gathering, sorting, processing, and distributing feedstock, operating and maintaining plants, and selling and distributing the gas produced.
WIDENING ACCEPTANCE OF PARIS CLIMATE AGREEMENT TO BOLSTER BIOGAS PLANT MARKET GROWTH
The number of nations that ratified the Paris Climate Change Agreement has been steadily rising, including the European Union, China, and India. This pact compels nations to use more renewable energy sources overall in their power generation.
Increased use attracts more attention because it helps manage climate change issues and reduce GHG emissions. Emissions from fossil fuels mostly cause global warming in the energy sector. On the other hand, biogas produces significantly fewer greenhouse gas emissions depending on the source and situation. In addition, it is employed in other processes, including heat or electricity generation.
Market Segments Covered in Report
By Digester Type:
By Region and Country:
Why does the bio-municipal waste segment hold a major market share?
Depending on the feedstock, the market is divided into bio-municipal garbage, agricultural residue, energy crops, and others. The largest portion was made up of agricultural waste. Waste produced by agricultural activities is referred to as agricultural waste. According to Global Bioenergy Statistics, energy production from agricultural waste could provide between 3% and 14% of the world’s energy needs.
Energy crops are anticipated to experience significant CAGR growth throughout the predicted period. Rice, wheat, sugarcane, sugar beets, maize, oats, rapeseed, and sorghum are among the crops that can currently be produced anaerobically around the world. Energy production from these crops might range from 3,080 to 3,920 TWh.
During forecasting, the bio-municipal trash category is anticipated to expand significantly. Several nations worldwide are presently concentrating on solid waste management.
Why does the electric generation application hold the dominant share of the market?
Most of the market was occupied by the application category for electric generation. The electricity demand is continuously rising due to rising household incomes, the electrification of transportation, and the rising use of digitally connected devices and air conditioning. Enerdata estimates that global final power consumption increased from 22,315 TWh in 2018 to 23,177 TWh in 2020.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Due to a long list of significant companies, this industry is very fragmented. To maintain their position in the industry, several businesses are becoming more involved in organic and inorganic advancements. Companies that are active in the industry are focusing on increasing their production capacities by adding new facilities or increasing the capacity of existing ones.
The key developments in the Global Biogas Plant Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Feedstock, Digester Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
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In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 8.8%.
Increasing adoption of renewables to drive market
Major global Biogas Plant Market players are Future Biogas Limited, PlanET Biogas Global GmbH, WELTEC BIOPOWER GmbH, Scandinavian Biogas Fuels International AB, EnviTec Biogas AG, Ameresco, Quantum Green, AB HOLDING SPA, RENERGON International AG, StormFisher, Strabag, Thoni, Naskeo Environnement S.A., IES BIOGAS S.r.l, FINN BIOGAS
High initial investments for establishing plants may hinder the market growth
Europe is expected to account for the largest market revenue share in the Global Biogas Plant market.
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