Stringent government regulations and policies to reduce carbon footprints to propel demand for biogas
- Vikas Kumar
- December 30, 2021
- ENERGY & POWER, NEWS
- Biogas Market Growth, Biogas Market News, Biogas Market share, Biogas Market size, Biogas Market Trend
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Global Biogas Market is anticipated to grow at a CAGR of around 6% during the forecast period (2021-2027). Biogas is produced from waste biomass in the methane fermentation process. Nowadays countries are producing increasing amounts of organic waste that can be used to produce clean sources of energy, with multiple benefits associated to reduce carbon footprints. Further, from the agricultural point of view, agricultural biogas plants are important because they enable the management of all waste biomass and its conversion into useful energy and agricultural fertilizer and solving the problem of methane emissions released from biomass.
Furthermore, from business point of view, by setting up a biogas plant, businesses can generate huge amount of revenue from different sources of wastes like municipal, animal, and agricultural wastes. These plants produce biogas which can be used in electricity generation and transportation among others, thus reduce greenhouse emission particularly from electricity generation, transportation, and industrial sectors as they cover major portion in greenhouse gas emission. For instance, in 2019, transportation sector captured highest share of 29%, electricity generation emitted 25%, and greenhouse emission from industry resulting to 23% in US.
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The COVID-19 pandemic severely impacted several markets across the globe, particularly in India, the U.S., Spain, and other Western European nations. The pandemic also had a significant impact on the market for biogas, majorly attributable to the shutdown of manufacturing facilities in compliance with government regulations, to reduce the spread of disease. This led to reduction in demand for biogas in industries thereby producers have to incure heavy losses.
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Based on source, biogas market is divided into municipal waste, animal waste, agricultural waste, and others. Among all, agricultural waste held lucrative market share owing to large agricultural sector in APAC, North America and Latin America. With rising population is leading to increase in food industry where agricultural sector major share. Therefore, growing food industry would lead to high demand for agricultural crops thereby resulting to more agricultural waste. In addition, animal and municipal waste also caters a significant market share. According to IEA, biogas and biomethane production in 2018 was around 35 million tons of oil equivalent (Mtoe), only a fraction of the estimated overall potential; estimation says, full utilization of resources could the led to production of biogas to ~570 Mtoe which could fulfill around 20% of worldwide gas demand.
Based on end use, market is categorized into power generation, cogeneration, heat, and others. Among all, power generation held prominent market share owing to rising demand of energy from commercial & industrial sectors. Shifting trends due to rising environmental concerns has led to increase in generation of electricity from clean energy sources. For instance, electricity generated from fossil fuel rose to ~15% in 2019 compared to 2010 at the same time electricity generated from biogas rose to nearly ~45% in 2020 compared to 2010. Further, biogas when upgraded to biomethane is used as a transportation fuel. Switching to biogas as vehicle fuel can reduce greenhouse gas emissions in the transport sector between 60% and 80% compared to fossil-based fuels like gasoline and diesel.
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Additionally, the report provides detailed initiatives that are being taken in the field of biogas market. The market is classified into distinct regions including North America, Europe, Asia Pacific, and the Rest of World. Europe is the largest producer of biogas. Countries such as Germany, Denmark, France, Italy and the Netherlands have actively promoted biogas production. As the leading biogas-producing region, Europe has around 20,000 biogas plants, with the majority situated in Germany. Most are built for on-site electricity generation and co-generation, with around 500 plants dedicated to the upgradation of biogas into biomethane.
Global Biogas Market Segmentation
Market Insight, by Source
- Municipal Waste
- Animal Waste
- Agricultural Waste
Market Insight, by End Use
- Power Generation
Market Insight, by Region
- North America
- Asia Pacific
- Rest of World