Global Biogas Plants Market to Reach $6.5 Billion by 2026
SAN FRANCISCO, March 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Biogas Plants - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 19; Released: February 2022
Executive Engagements: 999
Companies: 119 - Players covered include 2G Energy AG; AEV Energy GmbH; Agrinz Technologies GmbH; Air Liquide S.A; Ameresco, Inc; Beijing Sanyi Green Energy Development Co., Ltd; Bio-En Power Inc; Biofrigas Sweden AB; CH4 Biogas, LLC; DMT Environmental Technology; EnviTec Biogas AG; Gasum AB; IES BIOGAS srl; PlanET Biogas Global GmbH; Quadrogen Power Systems, Inc; Scandinavian Biogas Fuels AB; Schmach Biogas GmbH; Wärtsilä Oyj Abp; Weltec Biopower GmbH and Others.
Coverage: All major geographies and key segments
Segments: Segment (Biogas Plants)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Biogas Plants Market to Reach $6.5 Billion by 2026
Biogas plants can convert energy crops, organic industrial and municipal solid waste, and manure, into efficient fertilizer and reduce the odors associated with traditional manure management. The most important factor driving the growth of biogas is that it is eco-friendly and produced from a wide variety of organic materials and wastes, such as crop residues, animal manure, sewage sludge, municipal/industrial organic waste, stillage from ethanol production, and specially grown energy crops. Biogas holds immense application scope in the transportation and power generation sectors. Biogas is extensively employed in gas engines for converting the energy into heat and electricity. The market growth is also governed by implementation of environmental and governmental legislations and regulations that favor biogas, especially in developed regions such as the US and Europe. Given the numerous advantages of biogas, venture capital investments are the one on the rise for biogas plants, especially in the agriculture and food industry. Interest in biofuels, on the whole, is escalating with start-ups in this sector cornering some of the largest venture backed funding. Rising cost of energy is encouraging companies to invest in building biogas plants for decentralized generation of renewable energy from organic wastes and residues. These energy recovery plants located at the site of origin of wastes also help companies eliminate waste disposal costs. Developments in the field of anaerobic digestion will also positively impact the market.
Amid the COVID-19 crisis, the global market for Biogas Plants estimated at US$4.9 Billion in the year 2022, is projected to reach a revised size of US$6.5 Billion by 2026, growing at a CAGR of 6.7% over the analysis period. Dwindling oil prices along with subdued economic activity in the wake of COVID-19 pandemic have provided countries with the unique opportunity for rebuilding on low-carbon, sustainability agendas for dealing with rising concerns over climate change. The positive impact of lockdowns and other restrictions on the environment highlights the requirement for investments in green industries to protect the environment and push economic revival. The scenario has prompted regions to shift away from fossil fuels towards green technologies, with Europe leading the pack in these endeavors. The drive is likely to benefit sustainable options including wind, solar and hydrogen along with biogas that offers more than energy and holds potential to cut greenhouse gas emissions by around 12% by the year 2030.
The U.S. Market is Estimated at $499.5 Million in 2022, While China is Forecast to Reach $828.6 Million by 2026
The Biogas Plants market in the U.S. is estimated at US$499.5 Million in the year 2022. The country currently accounts for a 10.27% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$828.6 Million in the year 2026 trailing a CAGR of 8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 5.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR while Rest of European market (as defined in the study) will reach US$881.9 Million by the end of the analysis period. Europe represents a key market with 75% of the total biogas being used for the production of electricity. In terms of both consumption and production of biogas, Europe is ahead of the other nations mainly due to increased government regulation for environment friendly initiatives. The leading biogas producing countries in Europe include Germany, France, Italy and Switzerland. Biogas production in the US is predicted to grow significantly by 2030, leading to massive inflow of the renewable natural gas for vehicle along with non-vehicle applications. Growth in the Asia-Pacific region is being spurred by continuous infrastructure development and business expansion in the region, especially in the emerging markets such as China and India. China and India have been producing biogas at the household level for past several decades. These small plants have been using human and animal excrement as raw materials and subsequent gas generated is mostly used for illumination as well as cooking purposes, and small combustion engines on a few occasions. More
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